The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s interventional oncology devices market report forecasts the interventional oncology devices market size to grow to $3.03 Billion by 2027, with a CAGR (compound annual growth rate) of more than 6%.

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Interventional Oncology Devices Market Size Forecast

The global interventional oncology devices market is expected to grow from $2.21 billion in 2022 to $2.35 billion in 2023 at a compound annual growth rate (CAGR) of 6.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The interventional oncology devices market size is expected to grow from $3.03 billion in 2027 at a CAGR of 6.5%.

North America held the largest interventional oncology devices market share.

Key Interventional Oncology Devices Market Driver ­– Increase In Funding From Government And Private Organizations

The American Cancer Society, the largest non-government, not-for-profit cancer research funder, has awarded 630 projects with a grant amount of $384,262,652 in 2021. BioProtect Ltd., an Israeli company that develops novel bioabsorbable polymer spacer balloons, received a funding of $13 million of its Series D equity financing from a leading global syndicate of venture investors that finances the ongoing multicenter FDA clinical trial of BioProtect’s lead product, the ProSpace balloon spacer, which protects prostate cancer patients undergoing radiation therapy. Endosight, the first augmented-reality-guided ablative system, has received 20% of its funding from private organizations. The funding from government and private organizations helps in the development of new technologies and devices, thereby driving the interventional oncology devices market.

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Key Interventional Oncology Devices Market Trend – Deploying Robotics Technology

Companies are focusing on deploying robotics technology in interventional oncology devices, for higher efficiency. The robotic system integrates image-based planning and navigation with the installation of different instruments to the desired body part with better accuracy and efficiency. For instance, in March 2022, the U.S. Food and Drug Administration approved Quantum Surgical’s Epione interventional oncology robotics platform.

Interventional Oncology Devices Market Segment

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) or Selective Internal Radiation Therapy (SIRT), Transcatheter Arterial Embolization (TAE) or Bland Embolization

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

Interventional Oncology Devices Market Major Players and Strategies

Major players in the interventional oncology devices market are Boston Scientific Corporation, Medtronic PLC., Terumo Corporation, Merit Medical Systems Inc., Philips Volcano, AngioDynamics Inc., GE Healthcare, Siemens Healthineers, Sirtex Medical, and Cook Medical Incorporated.

In July 2020, Terumo Corporation, a Japanese medical device company, acquired Quirem Medical for $45 million. Through this acquisition, Terumo intends to launch the Holmium platform globally as a part of the ongoing expansion of its interventional oncology (IO) portfolio. It further strengthens the brand and extends manufacturing and clinical development activities. Quirem Medical is a Netherlands-based medical device company that develops and markets Holmium-166-based radioactive microspheres for Selective Internal Radiation Therapy (SIRT).

The Interventional Oncology Devices Global Market Report 2023 covers regional data on interventional oncology devices market size, interventional oncology devices market trends and drivers, opportunities, strategies, and interventional oncology devices market competitor analysis. The countries covered in the interventional oncology devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Interventional oncology devices are used in the diagnosis and treatment of cancer using minimally invasive techniques and advanced imaging technology.

View More Reports Related To The Interventional Oncology Devices Market –

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