Oncology Devices Market Forecast and Insights: Exploring Growth Trends, Market Size, and Emerging Opportunities
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
What External and Internal Drivers Are Contributing to the Growth of theOncology Devices Market?
A rising number of cancer cases worldwide is expected to boost the oncology devices market. Cancer remains a leading cause of death globally, and its increasing prevalence is driving demand for devices that aid in the diagnosis and treatment of cancer. For example, Macmillan Cancer Support estimates that by 2040, the number of people living with cancer in the UK will reach 5.3 million. This growing incidence is expected to stimulate the demand for oncology devices.
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#What is the Growth Potential of the Oncology Devices Market, and How Will It Perform by 2034?
The oncology devices market size has grown rapidly in recent years. It will grow from $150.3 billion in 2024 to $178.95 billion in 2025 at a compound annual growth rate (CAGR) of 19.1%. This growth is attributed to the rising prevalence of cancer, the aging population, increasing demand for personalized cancer treatments, and advancements in genomic profiling.
The oncology devices market is expected to undergo significant acceleration, growing to $346.48 billion by 2029 at a CAGR of 18.0%. Driving factors include the adoption of minimally invasive surgeries, biodegradable implants, healthcare globalization, and value-based care. Notable trends will include advancements in radiation equipment, early detection technologies, innovative oncology device development, liquid biopsies, and AI-based clinical decision-making tools.
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What Key Market Trends and Innovations Are Shaping the Future of theOncology Devices Industry?
Companies in the oncology devices market are focusing on innovative products, such as the Benchmark Ultra Plus System, to drive market growth. The Benchmark Ultra Plus System is a fully automated and integrated platform used in pathology and diagnostic laboratories for tasks such as preparation, staining, and imaging of tissue samples. For example, in June 2022, F. Hoffmann-La Roche AG, a Switzerland-based healthcare company, launched the Benchmark Ultra Plus System. The system features updated software, remote monitoring capabilities, an integrated touchscreen, and an environmentally friendly waste system, offering high-quality, urgent results with optimized workflow and improved user experience.
Who Are the Dominant Market Players Pushing the Boundaries of theOncology Devices Market?
Major companies operating in the oncology devices market include 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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What Are the Core Segments of the Oncology Devices Market, and How Do They Contribute to Growth?
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
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What Regions Are Dominating the Oncology Devices Market Growth?
North America was the largest region in the oncology devices market in 2023. 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, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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