Global Interventional Oncology Market is Estimated to Value Over USD 2 Billion by 2026 End

  • 13 Aug 2019

Global Interventional Oncology Market is estimated to value over USD 2 billion by 2026 end and register a CAGR of over 5.9% during the forecast period 2019-2026.   

Interventional oncology is a minimally-invasive procedure, expanding demand for such therapies is one key factor for the market to grow. Added advantages like the minimal risk of infection, shorter hospital stay, minimal risk of complications, less painful and fast recovery times which strengthens the market.

Increase in the number of cancer cases worldwide is one major reason for the market to thrive. Cancer is second to cardiovascular diseases in terms of the leading causes of death around the world. According to the data from World Health Organisation (WHO), cancer has caused over 8.3 million deaths each year and it is predicted that over 70% new cancer cases will be registered in the next 20 years. Rise in cancer affected population is the key driving factor of the market. According to a report published by Centre for Disease Control and Prevention (CDC) in 2014, over 20 million patients in the United States were diagnosed with cancer and this number is projected to reach over 25 million by 2024 end.

Ablation Devices Segment is Anticipated to Witness Significant Growth During the Forecast Period

 The embolization devices held the largest market share in 2018, however, it is anticipated that the ablation devices segment will exhibit significant market growth during the forecast period. An increase in the prevalence of cancer, rise in the adoption of Yttrium-90 radio embolic agents and product enhancements has resulted in the growth of the market.

Procedure-wise, the transcatheter arterial radioembolization (TARE) segment is anticipated to showcase growth trends similar to 2018. It was primarily due to increasing demand for minimally invasive procedures, rising prevalence of cancer, growing adoption of embolization procedures and clinical effectiveness of Yttrium-90 radioembolic agents.

The liver cancer segment is expected to showcase significant market growth during the forecast period. The factors mainly responsible for such growth are rising liver cancer cases due to an overall increase in the consumption of alcohol worldwide or patients suffering from hemochromatosis, hepatitis B and C.

The Asia Pacific region is anticipated to register the highest CAGR during the forecast period. This growth can be credited to the emerging economies like India, South Korea and China, who have commenced to offer high-growth opportunities for key market players in interventional oncology. Growing geriatric population, increasing incidences of cancer are some of the factors responsible for gaining such opportunities in the region.

The key players operating in the market include Medtronic, Boston Scientific, BTG Plc., Terumo, Merit Medical, Sirtex, Ethicon, Cook Medical, Teleflex, HealthTronics, MedWaves Medical, IceCure Medical, Interface Biomaterial BV, Mermaid Medicals, ABK Biomedical, Guerbet, Endo Shape, Instylla, Shape Memory Medical, Monteris Medical and Trisalus Lifesciences.

Competitive Landscape:

·     Tier 1 players- established companies in the market with a major market share 

·     Tier 2 players 

·     Emerging players which are growing rapidly 

·     New Entrants

Medtronic launched multiple tumour management products like OsteoCool RF Ablation Systems and OptiSphere Embolization. These products received US FDA clearance in 2017 and 2018 for cancer palliation and treatment thus assisting the market in strengthening its market position.

In 2017, Terumo Corporation (Japan) announced the QuiremSpheres Microspheres in Europe. In 2016, Ethicon (Johnson and Johnson, US) acquired NeuWave Medical, Inc. (US), and the NeuWave microwave ablation portfolio simultaneously with the aim to expand its product portfolio in the interventional oncology market. 

Global Interventional Oncology Market Segmentation:

By Product

·     Embolization Devices

·     Non-Radioactive Embolic Agents

·     Ablation Devices

o  Radiofrequency Ablation Devices

o  Microwave Ablation Devices

o  Cryoablation Devices

·     Support Devices

·     Guidewires

By Procedure

·     Thermal Tumour Ablation

·     Non-thermal Tumour Ablation

·     Transcatheter Arterial Chemoembolization

·     Transcatheter Arterial Radioembolization/Selective Internal Radiation Therapy

·     Transcatheter Arterial Embolization/Bland Embolization

By Cancer Type

·     Liver Cancer

·     Lung Cancer

·     Bone Cancer

·     Kidney Cancer

·     Other Cancers

By Region

·     North America

·     Europe

·     Asia Pacific

·     Latin America

·     Middle East & Africa

FutureWise Key Takeaways:

·     Growth prospects for interventional oncology market

·     SWOT analysis 

·     Key trends

·     Key data-points affecting market growth 

Objectives of the Study:

·     To provide with an exhaustive analysis on the interventional oncology market by product, by procedure, by cancer type and by region

·     To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)

·     To evaluate and forecast micro-markets and the overall market

·     To predict the market size, in key regions (along with countries)— North America, Asia Pacific, Europe, Latin America and Middle East & Africa

·     To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions

·     Profiling of companies to evaluate their market shares, strategies, financials and core competencies


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