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Oncology Devices Market Forecast: Value Set To Climb From $210.15 Billion To $397.27 Billion
The oncology devices market has seen substantial growth in recent years. It is projected to expand from $177.72 billion in 2025 to $210.15 billion in 2026, achieving a compound annual growth rate (CAGR) of 18.2%. This historical expansion can be attributed to factors such as increasing global cancer incidence rates, the enlargement of hospital oncology departments, a growing need for early diagnosis technologies, the availability of advanced imaging systems, and rising awareness of cancer screening programs.
The oncology devices market is projected to experience substantial expansion in the coming years. This sector is anticipated to reach $397.27 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 17.3%. This projected expansion during the forecast period is driven by several factors, including the increasing embrace of personalized cancer treatment devices, greater financial commitments to oncology infrastructure, the proliferation of outpatient facilities for cancer care, the expanding application of AI-powered diagnostic tools, and a heightened emphasis on solutions for precision oncology. Key developments anticipated during this timeframe involve a greater uptake of sophisticated cancer diagnostic devices, increased deployment of image-guided oncology therapies, broader incorporation of minimally invasive tools for cancer treatment, the widening availability of precision radiation therapy equipment, and a stronger focus on identifying cancer at earlier stages.
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Oncology Devices Market Growth Factors Behind Sustained Expansion
The escalating need for chemotherapy is poised to drive the expansion of the oncology devices market moving forward. Chemotherapy, a cancer therapy, employs potent drugs to obliterate rapidly proliferating cells, thereby slowing or arresting the proliferation and dissemination of tumors. The demand for chemotherapy is on the rise, stemming from the increasing global prevalence of cancer, as a higher number of diagnosed cases necessitates effective, widely available treatments that can address diverse cancer types and stages. Oncology devices enhance chemotherapy by enabling more secure and precise drug delivery and oversight, which consequently improves treatment effectiveness and patient results. For example, in January 2025, the U.S. National Cancer Institute, a U.S.-based federal cancer research agency, projected that new cancer cases in the United States would reach 2.04 million, an increase from 1.96 million in 2023, emphasizing the growing requirement for chemotherapy administration systems. Therefore, the increasing demand for chemotherapy is fueling the growth of the oncology devices market.
Oncology Devices Market Segment Analysis Spotlighting Growth Areas
The oncology devices market covered in this report is segmented –
1) By Device Type: Brachytherapy Devices, Endoscopic Devices
2) By Therapy: Chemotherapy, Hormone Therapy, Biotherapy/Immunotherapy, Radition Therapy
3) By End User: Hospitals, Cancer Research Institutes, Other End Users
Subsegments:
1) By Brachytherapy Devices: Afterloaders (High-Dose Rate (HDR) And Low-Dose Rate (LDR)), Applicators, Seeds, Accessories
2) By Endoscopic Devices: Endoscopes (Flexible, Rigid, Capsule), Endoscopic Ultrasound Systems, Endoscopic Accessories
Oncology Devices Market Industry Trends Fueling Future Revenue Growth
Major companies in the oncology devices market are concentrating on developing sophisticated, precision-focused solutions to elevate treatment accuracy, improve patient safety, and enhance clinical workflow efficiency. These innovations prioritize minimally invasive technologies, superior visualization, and real-time therapy optimization to support improved outcomes for various cancer types. For example, in April 2025, ZEISS, a Germany-based medical technology company, secured FDA 510(k) clearance for its INTRABEAM 700 system, which is a next-generation robotic-assisted intraoperative radiotherapy (IORT) platform engineered for targeted radiation delivery in neuro-oncology and breast cancer procedures. The system provides enhanced precision, optimized ergonomics, and seamless integration into surgical workflows, empowering clinicians to administer localized radiation during surgery while minimizing exposure to surrounding healthy tissue. By incorporating advanced imaging, robotics, and comprehensive treatment-planning capabilities, the INTRABEAM 700 boosts therapeutic accuracy, facilitates quicker clinical decision-making, and aligns with the industry’s progression towards technologically advanced, patient-centric oncology care.
Oncology Devices Market Competitive Landscape: Who Leads The Industry?
Major companies operating in the oncology devices market are Eckert & Ziegler BEBIG GmbH, Oncura Inc., GE Healthcare, Medtronic plc, Varian Medical Systems Inc., Elekta AB, Theragenics Corporation, Accuray Incorporated, Roche Diagnostics, IBA Group, Biogenex Laboratories, Becton Dickinson and Company, Siemens Healthineers, Philips Healthcare, Hologic Inc., IBA AG, ViewRay Inc., Canon Medical Systems Corporation, Brainlab, PerkinElmer, RaySearch Laboratories, Mevion Medical Systems, Vision RT, IsoRay, RefleXion Medical, Alpha Tau Medical, Nanobiotix, Mirada Medical Ltd., Navidea Biopharmaceuticals Inc.
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Oncology Devices Market Geographic Landscape: Which Region Dominates Industry Growth?
North America was the largest region in the oncology devices market in 2025. Asia-Pacific was the second-largest region in the oncology devices market report. The regions covered in the oncology devices market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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