Future Outlook of the Interventional Oncology Devices Market: Growth, Trends, and Emerging Opportunities Explored
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What key factors are powering the surge in the interventional oncology devices market right now?
Recent years have seen significant growth in the market size of interventional oncology devices. This market is forecasted to expand from $2.39 billion in 2024 to $2.52 billion in 2025, reflecting a compound annual growth rate (CAGR) of 5.3%. The surge experienced in the historic timeframe can be credited to several factors, including an aging population, rising prevalence of cancer, amplified R&D spending in the pharmaceutical arena, escalated healthcare expenditure, and growth in the total count of healthcare facilities.
How fast Is the interventional oncology devices market expected to grow, and what’s its future value?
Predictions indicate a robust growth in the size of the hydraulic cylinder market in the upcoming years, reaching a value of $25.6 billion in 2029 at a compounded annual growth rate (CAGR) of 5.9%. This growth during the forecast period is expected to be propelled by factors such as enhanced automation, the surge in renewable energy, increased urbanization and a boost in construction activities, along with a focus on sustainability and a resilient mining industry. The period is also anticipated to witness several key trends including the adoption of cutting-edge materials, the use of intelligent hydraulic systems, emphasis on environmental sustainability, tailored solutions for different sectors, implementing energy-efficient measures, and the amalgamation of robotics and automation.
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What are the leading drivers of growth in the interventional oncology devices market?
Leading corporations in the interventional oncology devices market are concentrating on technology advancement, such as tissue volume, in a bid to boost diagnostic precision and the success of oncology treatment methods. Tissue volume refers to the quantity of biological tissue gathered during a biopsy process. More comprehensive samples can be obtained from larger tissue volumes, enhancing the diagnosis accuracy and treatment planning effectiveness. For example, in June 2023, SuperCore Advantage, a semi-automatic biopsy was introduced by Argon Medical, a medical device company based in the US. The SuperCore Advantage has the capacity to gather up to 35% more samples than its prime competitors, minimizing the need for multiple passes during biopsies. This aspect is essential for obtaining sufficient tissue samples for precise diagnosis.
What are the key segments defining the interventional oncology devices market?
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
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Who are the key players steering the development of 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 emerging trends are influencing the growth of the interventional oncology devices market?
Leading businesses are prioritizing the implementation of robotic technology in interventional oncology devices to achieve greater efficacy. The robotic system combines image-oriented planning and direction with the precise placement of various instruments to the target body area, thereby enhancing accuracy and efficiency. To illustrate, the Quantum Surgical’s Epione interventional oncology robotic platform received approval from the U.S. Food and Drug Administration in March 2022.
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Which regions are most influential in expanding 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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