The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The interventional oncology devices market has exhibited robust expansion, with the market size witnessing significant growth. From $2.35 billion in 2023, it is projected to reach $2.5 billion in 2024, reflecting a compound annual growth rate (CAGR) of 6.4%. Key factors fueling this growth in the historic period include:

• Aging population pool
• Increase in cancer prevalence
• Rise in pharmaceutical R&D expenditure
• Expanded healthcare expenditure
• Growth in healthcare facilities

Anticipating Future Growth
The outlook for the interventional oncology devices market remains promising, with strong growth projected in the coming years. By 2028, the market is expected to surge to $3.25 billion, at a CAGR of 6.7%. The forecasted growth drivers include:

• Increasing older population
• Preference for minimally invasive surgeries (MIS)
• Growth in research and development spending
• Rise in healthcare expenditure
• High potential in emerging economies
• Increasing prevalence of cancer and chronic diseases

Emerging Trends in the Forecast Period
The forecasted period is marked by several notable trends shaping the landscape of interventional oncology devices:

• Development of advanced image-guided oncology devices
• Utilization of AI for innovative device development
• Innovation in embolic devices for improved oncology procedures
• Integration of robotics technology
• Collaborative efforts for accelerated product development and innovation

View More On The Interventional Oncology Devices Market Report 2024 – https://www.thebusinessresearchcompany.com/report/interventional-oncology-devices-global-market-report

Funding Initiatives Boost Interventional Oncology Devices Market For Enhanced Cancer Treatments
Driving Growth Through Funding
Funding initiatives play a pivotal role in propelling the interventional oncology devices market forward. Both private and government funding avenues have contributed significantly to market expansion. Key highlights include:

• The American Cancer Society allocated substantial grants totaling $384,262,652 in 2021, supporting 630 projects.
• BioProtect Ltd. secured $13 million in Series D equity financing for the development of ProSpace balloon spacer, enhancing prostate cancer treatment.
• Endosight, an augmented-reality-guided ablative system, received substantial funding from private organizations.

Major Players and Market Dynamics
Several prominent companies operate within the interventional oncology devices market, including:

• Boston Scientific Corporation
• Terumo Corporation
• Siemens Healthineers
• Sirtex Medical Limited
• Merit Medical Systems, Inc.
• Merck & Co. Inc.
• And many more

Innovative Ai-Powered Solution Revolutionizes Breast Cancer Diagnosis In Interventional Oncology Devices Market
Advancements in Breast Cancer Diagnosis
Major players in the market are innovating with AI-powered solutions to enhance breast cancer diagnosis accuracy. Noteworthy developments include:

• Paige AI Inc. launched Paige Breast Lymph Node, an AI-powered digital pathology solution, to detect breast cancer metastases in lymph node tissue with high accuracy and efficiency.
• This innovative technology offers AI-driven detection capabilities, convenient visualization features, and seamless integration into existing pathology workflows.

Boston Scientific Enhances Interventional Oncology Portfolio With Acquisition Of Obsidio Inc.
Expanding Portfolio Through Strategic Acquisition
In August 2022, Boston Scientific Corporation acquired Obsidio Inc., bolstering its position in the interventional oncology market:

• Obsidio Inc. specializes in developing minimally invasive interventional oncology devices for liver cancer and other solid tumors.
• The acquisition aims to strengthen Boston Scientific’s interventional oncology portfolio and tap into the growing market demand.

Segmentation and Regional Insights
Understanding Market Dynamics
The interventional oncology devices market is segmented based on various parameters:

1. Product: Embolization Devices, Ablation Devices, Support Devices
2. Procedure: Thermal Tumor Ablation, Non-Thermal Tumor Ablation, Transcatheter Arterial Chemoembolization (TACE), Transcatheter Arterial Radioembolization (TARE), Selective Internal Radiation Therapy (SIRT), Transcatheter Arterial Embolization (TAE), Bland Embolization
3. Cancer Type: Liver Cancer, Kidney Cancer, Lung Cancer, Bone Cancer, Other Cancer Types

Regional Outlook

• North America emerged as the largest region in the interventional oncology devices market in 2023, indicating significant market dominance in this region.

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