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How Has the Interventional Oncology Devices Market Size Changed, over the years?

There has been significant growth in the market size of interventional oncology devices in recent years. The market is projected to expand from $2.39 billion in 2024 to $2.52 billion in 2025, with a compound annual growth rate (CAGR) of 5.3%. Factors contributing to this growth during the historic period include an ageing demographic, a rise in cancer cases, an uptick in R&D spending in the pharmaceutical sector, higher healthcare expenses, and an increase in the number of healthcare facilities.

How Much Will the Interventional Oncology Devices Market Be Worth in 2029?

In the coming years, substantial growth is expected in the interventional oncology devices market which is poised to reach $3.34 billion by 2029 with a compounded annual growth rate of 7.3%. Factors predicted to contribute to growth during this forecast period include a rising aged population, heightened preference for minimally invasive procedures, increased spending on research and development, higher healthcare expenses, significant potential in upcoming economies and a surge in cancer and chronic illness cases. Looking towards the future, key trends will focus on the creation of advanced, image-guided oncology devices, leveraging artificial intelligence for innovative development, and introducing new and inventive embolic devices for enhanced oncology treatments. Thriving on technological advancements, the impact of robotics in this market segment is significant, as is the importance of corporate collaboration and research institution alliances to fast-track the development and innovation of products.

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Which is the Largest Company in the Interventional Oncology Devices Market?

Major companies operating in the interventional oncology devices market include Boston Scientific Corporation, Terumo Corporation, Siemens Healthineers, Sirtex Medical Limited, Henlius, Viant Medical, AngioDynamics Inc., Pfizer, Steris Applied Sterilization Technologies, Dr.Reddys, CapeRay, Innovent Biologics, Novartis AG, Consonance, ABLbio, Adimmune, Heraeus Medical, Bioavlee, Mediceena International, Sinapi biomedical, Olympus, Freudenberg Medical, Hisun Pharma, Beijing ShuangLu Pharmaceuticals, Edwards LifeSciences Corp, Gulf Dent Trading, LifeTech Scientific Corporation, Biomerics, Medtronic plc, Dickinson & Company, 3M Company, DISA Vascular, Johnson & Johnson, Eurolab, Koninklijke Philips, Quantum SurgicalKyowa Hakko Kirin, Viatris, Nipro, Zimmer Biomet Holdings, Profound Medical, Gedeon Richter, Baxter, Ti-TaMED, Abbott Laboratories, Cook Medical LLC, Adavium Medical, Autocam Medical, Bio-Thera, Stryker, GE Healthcare, Sonic Healthcare, Medicem, HealthTronics, Bayer AG, Intuitive Surgical Inc, Aster DM Healthcare, Danaher Corporation, Varian Medical Systems Inc., Smileneo, EDAP TMS S.A, Fresenius Medical Care AG, China Regenerative Medicine International

What Are the Main Market Drivers in the Interventional Oncology Devices Industry?

Key players in the interventional oncology devices market, like Argon Medical, are placing a significant emphasis on technological advancements such as tissue volume to boost diagnostic precision and the efficiency of treatment in oncology procedures. The term tissue volume refers to the quantity of biological tissue gathered during the biopsy process. Securing larger tissue volumes can offer more detailed samples which in turn enhances diagnosis accuracy and treatment planning effectiveness. An illustration of this is when Argon Medical, a medical device enterprise based in the US, introduced the SuperCore Advantage semi-automatic biopsy in June 2023. The SuperCore Advantage has the ability to gather up to 35% more samples compared to top competitors, reducing the necessity for extra passes in biopsies. This characteristic is vital for securing sufficient tissue samples to ensure a precise diagnosis.

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How Is the Interventional Oncology Devices Market Segments Structured?

The interventional oncology devices market covered in this report is segmented –

1) By Product: Embolization Devices, Ablation Devices, Support Devices

2) By 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) By Cancer Type: Liver Cancer, Kidney Cancer, Lung Cancer, Bone Cancer, Other Cancer Types

Subsegments:

1) By Embolization Devices: Embolic Agents, Catheters For Embolization, Delivery Systems For Embolic Agents

2) By Ablation Devices: Radiofrequency Ablation Devices, Microwave Ablation Devices, Cryoablation Devices, Laser Ablation Devices

3) By Support Devices: Imaging Guidance Systems, Access Devices, Fluid Management Systems

What Strategic Trends Are Transforming the Interventional Oncology Devices Market?

Top corporations are concentrating their efforts on the incorporation of robotics technology in interventional oncology devices to achieve greater effectiveness. The robotic mechanism enhances image-guided planning and navigation, allowing for more precise and efficient positioning of various tools on the intended body part. As an example, Quantum Surgical’s Epione interventional oncology robotics platform received approval from the U.S. Food and Drug Administration in March 2022.

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Which Global Regions Offer the Highest Growth in the Interventional Oncology Devices Market?

North America was the largest region in the interventional oncology devices market in 2024. Asia-Pacific was the second largest region in the global interventional oncology devices market report. The regions covered in the interventional oncology devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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This Report Delivers Insight On:

1. How big is the interventional oncology devices market, and how is it changing globally?

2. Who are the major companies in the interventional oncology devices market, and how are they performing?

3. What are the key opportunities and risks in the interventional oncology devices market right now?

4. Which products or customer segments are growing the most in the interventional oncology devices market?

5. What factors are helping or slowing down the growth of the interventional oncology devices market?

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