The report "Interventional Oncology Market by Product (Radiofrequency, microwave, embolization, guidewires), Procedure (Thermal, Non-Thermal Ablation, TACE, TARE, TAE), Cancer (Liver, Lung, Kidney, Bone Metastasis), Enduser (Hospital, ASC) - Global Forecast to 2026" The global interventional oncology market size is estimated to be USD 1.9 billion in 2020 and is projected to reach USD 2.9 billion by 2026, at a CAGR of 6.8%. Major factors driving the interventional oncology market growth include the rising prevalence of major cancers & tumors, ongoing technological advancements in interventional therapeutic procedures, and increasing public-private investments in innovative cancer therapies.
Browse 183 market data Tables and 33 Figures spread through 215 Pages and in-depth TOC on "Interventional Oncology Market by Product (Radiofrequency, microwave, embolization, guidewires), Procedure (Thermal, Non-Thermal Ablation, TACE, TARE, TAE), Cancer (Liver, Lung, Kidney, Bone Metastasis), Enduser (Hospital, ASC) - Global Forecast to 2026"
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The interventional oncology market includes major Tier I and II suppliers like Medtronic (Ireland), Boston Scientific (US), BD (US), Terumo (Japan), Merit Medical (US), AngioDynamics (US), J&J (US), Teleflex (US), Cook Medical (US), HealthTronics (US). These suppliers have their manufacturing facilities spread across regions such as North America and Europe. COVID-19 has impacted their businesses as well. Demand for interventional oncology from key end-users has declined a bit amidst the global COVID-19 pandemic. Industry experts believe that COVID-19 will have a short-term decline in the growth for the interventional oncology market in 2020, but will experience normal growth as the market gradually steadies by the end of 2020.
Embolization devices to dominate with the highest revenue share of the interventional oncology market in 2022
Embolization devices account for the highest share of the interventional oncology market as of 2022. Major factors attributed to its significant market share include its effective utilization to treat primary cancers (such as hepatocellular carcinoma and liver resection) and greater awareness about embolization as an alternative to ablation & chemotherapy.
Liver cancer to be the dominant interventional oncology application during the study period.
Liver cancer is estimated to account for the largest revenue share of the interventional oncology market in 2022. The application is driven by the strong adoption of interventional procedures for the treatment of metastatic liver cancers & hepatocellular carcinoma, coupled with the rising prevalence of related cancers and continued industry initiatives to improve customer awareness related to the availability of related products.
Asia Pacific likely to emerge as the fastest-growing interventional oncology market, globally
Emerging Asian countries, such as China, India, South Korea, Taiwan, and Singapore, offer high-growth market players opportunities. The Asia Pacific interventional oncology market is projected to grow the fastest from 2020 to 2026. Their lucrative growth potential is driven by factors such as supportive government policies for product manufacturing & cancer therapies, the rapid expansion of healthcare infrastructure in key Asian countries, and robust cancer research infrastructure in Japan.
As of 2022, prominent players in this market included Medtronic (Ireland), Boston Scientific (US), BD (US), Terumo (Japan), Merit Medical (US), Angiodynamics (US), J&J (US), Teleflex (US), Cook Medical (US), HealthTronics (US), MedWaves (US), Sanarus (US), IMBiotechnologies (Canada), Trod Medical (US), IceCure Medical (Israel), Mermaid Medicals (Denmark), Interface Biomaterials BV (Netherlands), Guerbet (France), ABK Biomedical (Canada), Shape Memory Medical (US), Endo Shape (US), Monteris Medical (US), Instylla (US), Trisalus Lifesciences (US), Profound Medical Corp (Canada), Sirtex (US), Accuray (US), Baylis Medical (Canada), and ALPINION MEDICAL SYSTEMS (South Korea), among others.
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