Interventional Oncology Devices Market Growth Analysis Till 2030 By The Business Research Company
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The interventional oncology devices market is expected to grow from $2.05 billion in 2021 to $2.82 billion in 2026 at a rate of 6.5%. The global interventional oncology devices market size is then expected to grow at a CAGR of 7.0% from 2026 and reach $3.97 billion in 2031.
The interventional oncology devices market consists of the sale of interventional oncology devices and related services by entities (organizations, sole traders, and partnerships) that manufacture interventional oncology devices.
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Interventional Oncology Devices Market Driver
Rising research and development spending in the medical sector is expected to fuel the interventional oncology devices market in the coming years. Pharmaceutical research and development `include all steps from the initial research of the disease process, to compound testing, pre-clinical, and clinical evaluation, which drives innovation in interventional oncology devices to make them safer and more effective. The surge in pharmaceutical research and development spending has therefore supported development and advancement of interventional oncology devices.
Interventional Oncology Devices Market Trends
Artificial intelligence (AI) is increasingly being used in cancer diagnosis and treatment. In interventional oncology, AI is used to identify imaging biomarkers to aid clinical decision-making capabilities and predict outcomes. AI can also help in standardizing and automating image interpretation and cancer detection.
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Opportunities And Recommendations For The Interventional Oncology Devices Market
Opportunities – The top opportunities in the interventional oncology devices market segmented by product will arise in the embolization devices segment. The top opportunities in the interventional oncology devices market segmented by procedure will arise in the thermal tumor ablation segment. The top opportunities in the interventional oncology devices market segmented by cancer type will arise in the lung cancer segment. The interventional oncology devices market size will gain the most in the USA.
Recommendations – The Business Research Company recommends the interventional oncology devices market companies to focus on new product launches, expand in emerging markets, increase merger and acquisition activity, provide competitively priced offerings, focus on securing long-term supply contracts with healthcare institutions, offer value-based pricing, focus on increasing awareness, target hospitals and clinics and target the aging population
Major Players And Regions Of The Interventional Oncology Devices Market
Major players in the interventional oncology devices market are Boston Scientific Corporation, Terumo Corporation, Siemens Healthineers, Sirtex Medical Limited, Merit Medical Systems, Inc.
North America was the largest region in the interventional oncology devices market and Asia Pacific, and South America are expected to be the fastest-growing region in the forecast period.
The Interventional Oncology Devices Market Report 2022 – Opportunities And Strategies – Global Forecast To 2031 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the interventional oncology devices market.
Interventional Oncology Devices Market Segmentation By The Business Research Company
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
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