[email protected] +44 20 8123 2220 (UK) +1 732 587 5005 (US) Contact Us | FAQ |

Interventional Oncology Devices Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Product (Embolization Devices, Ablation Devices, Support Devices), By Procedure (Thermal Tumour Ablation, Non-thermal Tumour Ablation, Transcatheter Arterial Chemoembolization (TACE), Transcatheter Arterial Radioembolization (TARE), Transcatheter Arterial Embolization (TAE)), By Cancer Type (Liver, Kidney, Lung, Bone, Others), By Region and Competition, 2019-2029F

April 2024 | 185 pages | ID: I4D96C916811EN
TechSci Research

US$ 4,500.00

E-mail Delivery (PDF)

Download PDF Leaflet

Accepted cards
Wire Transfer
Checkout Later
Need Help? Ask a Question
Global Interventional Oncology Devices Market was valued at USD 2.54 Billion in 2023 and is anticipated to project impressive growth in the forecast period with a CAGR of 7.86% through 2029. The escalating prevalence of various cancer types and evolving lifestyles are key contributors to the growth of the interventional oncology device market. These devices facilitate the diagnosis and treatment of cancer through minimally invasive procedures conducted under image guidance. Additionally, advancements in oncology technology, aimed at treating diverse cancer types, coupled with the demand for shorter hospital stays, reduced pain, lower infection risks, minimal post-operative care, and accelerated recovery, further propel market expansion. Moreover, increased research and development activities in the healthcare sector, alongside the adoption of government regulations, fuel market growth.

Key Market Drivers

Rising Cancer Prevalence and Incidence Rates

The escalating prevalence and incidence rates of cancer on a global scale are driving forces propelling the growth trajectory of the interventional oncology devices market. With cancer continuing to pose a significant health challenge worldwide, the number of individuals diagnosed with the disease is steadily increasing each year. This rise in cancer cases has created a pressing demand for sophisticated interventional oncology devices capable of facilitating the diagnosis, treatment, and management of diverse cancer types.

As the burden of cancer intensifies, there is a critical need for innovative medical solutions that can effectively address the complexities associated with the disease. Consequently, the market for interventional oncology devices is experiencing notable expansion, driven by the imperative to develop advanced technologies capable of meeting the evolving needs of healthcare providers and patients alike.

The growing prevalence of cancer underscores the urgency for the development and adoption of cutting-edge interventional oncology devices that can enhance diagnostic accuracy, improve treatment outcomes, and optimize disease management strategies. Against this backdrop, the interventional oncology devices market is poised for significant growth as stakeholders strive to meet the escalating demand for innovative solutions that can effectively combat the global cancer burden.

Advancements in Minimally Invasive Technologies

Technological advancements in minimally invasive techniques have sparked a revolution in cancer treatment paradigms, significantly transforming the landscape of oncological care. With the advent of interventional oncology devices, clinicians now possess powerful tools that allow for the execution of precise procedures with minimal disruption to surrounding tissues. This represents a notable departure from conventional surgical interventions, offering patients access to less invasive treatment options that promise reduced trauma and enhanced recovery.

Central to these advancements are the development and refinement of novel imaging modalities, which afford clinicians unprecedented insights into the intricate anatomical structures affected by cancer. These cutting-edge imaging techniques enable healthcare professionals to navigate complex treatment scenarios with unparalleled precision, enhancing treatment efficacy while minimizing collateral damage.

In addition to imaging innovations, the evolution of catheter-based devices has played a pivotal role in shaping the landscape of interventional oncology. These sophisticated devices empower clinicians to deliver targeted therapies directly to tumour sites, precisely modulating treatment delivery and maximizing therapeutic efficacy. By harnessing the capabilities of catheter-based interventions, clinicians can effectively combat cancer with unparalleled precision, offering patients tailored treatment regimens tailored to their unique disease profiles.

Driven by these transformative technological advancements, the adoption of interventional oncology devices is rapidly gaining momentum across the globe. As healthcare providers increasingly recognize the benefits of minimally invasive approaches in cancer treatment, the demand for these innovative devices continues to soar. With their unparalleled precision, enhanced therapeutic efficacy, and reduced patient morbidity, interventional oncology devices are poised to shape the future of cancer care, offering patients access to safer, more effective treatment options that promise to revolutionize the fight against cancer.

Increasing Demand for Image-Guided Therapies

Image-guided therapies have emerged as indispensable tools in the battle against cancer, offering clinicians the ability to precisely target tumours while sparing healthy tissues from harm. At the forefront of this innovative approach are interventional oncology devices, which leverage advanced imaging technologies to guide therapeutic interventions with unparalleled precision and accuracy. Techniques such as radiofrequency ablation (RFA), microwave ablation (MWA), and transarterial chemoembolization (TACE) rely on real-time imaging feedback to deliver targeted treatments directly to tumour sites, minimizing collateral damage and optimizing therapeutic outcomes.

The surging demand for image-guided therapies reflects their exceptional efficacy and safety profile, driving robust growth in the market for interventional oncology devices. As clinicians increasingly recognize the benefits of these minimally invasive techniques in the diagnosis and treatment of cancer, the adoption of interventional oncology devices continues to accelerate worldwide.

Preference for Minimally Invasive Procedures

The preference for minimally invasive procedures in cancer treatment is on the rise among patients and healthcare providers alike, driven by a multitude of compelling benefits. These include shorter hospital stays, diminished pain levels, lower risk of complications, and expedited recovery times, all of which significantly enhance patient outcomes and satisfaction. Interventional oncology devices play a pivotal role in meeting this demand by offering minimally invasive treatment alternatives that are particularly well-suited for patients ineligible for surgery or those seeking to circumvent more invasive interventions. As the trend towards minimally invasive approaches continues to gain traction, the global adoption of interventional oncology devices is poised for considerable growth.

Key Market Challenges

Reimbursement Limitations

Limited reimbursement coverage for interventional oncology procedures and devices represents a significant challenge in the Global Interventional Oncology Devices Market. Reimbursement policies vary across healthcare systems and regions, resulting in inconsistent coverage levels for interventional oncology treatments. The lack of adequate reimbursement can deter healthcare providers from adopting these technologies, limit patient access to innovative therapies, and hinder market growth. Addressing reimbursement limitations requires collaboration among stakeholders to advocate for favorable reimbursement policies and demonstrate the clinical and economic value of interventional oncology devices.

High Cost of Technology

The high cost associated with interventional oncology devices poses a significant barrier for market stakeholders across the globe. Developing and manufacturing these advanced medical devices requires substantial investments in research, technology, and production infrastructure. Companies invest significant financial resources and manpower in designing, testing, and refining interventional oncology devices to ensure they meet stringent quality standards and regulatory requirements.

Moreover, the implementation of interventional oncology technologies necessitates specialized training and infrastructure, further contributing to the overall cost of adoption. Healthcare providers require comprehensive training programs to acquire the necessary skills and expertise to effectively utilize these devices in clinical settings. Additionally, healthcare facilities need to invest in specialized equipment and infrastructure to support the safe and efficient use of interventional oncology devices during procedures.

The high upfront costs associated with acquiring interventional oncology devices may deter healthcare facilities, particularly those operating in resource-constrained settings, from making investments in these technologies. Limited financial resources and budgetary constraints may hinder healthcare organizations' ability to procure expensive medical equipment, limiting their access to advanced interventional oncology solutions.

Key Market Trends

Expanding Healthcare Infrastructure

The expansion of healthcare infrastructure, particularly in emerging markets, marks a pivotal development fostering greater accessibility to advanced medical technologies, including interventional oncology devices. Governments and healthcare organizations worldwide are actively investing in the establishment and enhancement of healthcare facilities equipped with state-of-the-art diagnostic and treatment modalities, geared towards addressing the escalating burden of cancer. By bolstering the availability of these cutting-edge resources, the expansion of healthcare infrastructure serves to facilitate broader utilization of interventional oncology devices, consequently propelling market growth within these regions and beyond.

Strategic Collaborations Partnerships

Collaboration among industry players, healthcare institutions, and research organizations plays a pivotal role in driving innovation and fostering market expansion within the interventional oncology devices sector. Through strategic partnerships, these stakeholders synergize their resources, expertise, and insights to spearhead the development of cutting-edge technologies, conduct robust clinical trials, and devise effective market access strategies. By harnessing synergies and complementary strengths across diverse entities, collaborative endeavors accelerate the pace of advancement and adoption of interventional oncology devices across global markets. These partnerships serve as catalysts for accelerating innovation, enhancing patient care, and ultimately shaping the trajectory of the interventional oncology devices industry.

Segmental Insights

Product Insights

Based on the product, ablation devices stand out as a dominant force in the global market. Ablation devices play a crucial role in the treatment of cancer by precisely targeting and destroying tumours using thermal or non-thermal energy sources. These devices offer minimally invasive alternatives to surgery and traditional cancer treatments, making them increasingly preferred by patients and healthcare providers alike.

The dominance of ablation devices in the global interventional oncology devices market is attributed to several factors. Ablation techniques, such as radiofrequency ablation (RFA), microwave ablation (MWA), and cryoablation, have demonstrated efficacy in treating a wide range of solid tumours, including liver, lung, kidney, and bone tumours. These devices are versatile and can be used to treat tumours of varying sizes and locations within the body.

Ablation devices offer several advantages over traditional treatment modalities, such as surgical resection and chemotherapy. They allow for targeted tumour destruction while minimizing damage to surrounding healthy tissues, resulting in fewer complications and faster recovery times for patients. Moreover, ablation procedures can often be performed on an outpatient basis, reducing hospitalization costs and improving patient comfort and convenience.

Procedure Insights

Based on the Procedure segment, thermal tumour ablation emerges as a dominant force in the global market for interventional oncology devices. Thermal tumour ablation involves the destruction of tumours through the application of heat generated by various energy sources, such as radiofrequency, microwave, or laser energy. This technique is highly effective in treating solid tumours located in different organs of the body, including the liver, kidney, lung, and bone.

The dominance of thermal tumour ablation in the global interventional oncology devices market can be attributed to several factors. Thermal ablation techniques have demonstrated high efficacy in achieving complete tumour destruction while minimizing damage to surrounding healthy tissues. This makes them a preferred choice for patients who are not suitable candidates for surgery or who prefer less invasive treatment options.

Thermal ablation procedures offer several advantages over traditional cancer treatments, such as surgical resection and chemotherapy. They are associated with shorter hospital stays, reduced post-procedural pain, and faster recovery times, leading to improved patient outcomes and satisfaction. Moreover, thermal ablation can often be performed on an outpatient basis, resulting in lower healthcare costs and greater convenience for patients.

Regional Insights

The dominance of the Global Interventional Oncology Devices Market is notably led by North America. Several factors contribute to North America's prominent position in this market. The region benefits from a highly developed healthcare infrastructure, equipped with state-of-the-art medical facilities and advanced diagnostic and therapeutic technologies. North America boasts a strong emphasis on research and development, with significant investments in innovative medical technologies and treatments.

Favourable reimbursement policies and regulations in North America support the adoption and utilization of interventional oncology devices, facilitating access to these advanced medical interventions for patients. Moreover, a large patient population diagnosed with various types of cancers drives the demand for interventional oncology devices in North America. Strategic collaborations between industry players, healthcare providers, and research institutions in North America foster innovation and drive market growth. These partnerships enable the development of cutting-edge technologies and the conduct of clinical trials, ultimately contributing to the advancement of interventional oncology devices.

Key Market Players

Medtronic PLC

Terumo Corporation

Boston Scientific Corporation

Merit Medical Systems, Inc.

HealthTronics, Inc.

Johnson Johnson

Teleflex Inc.

Angiodynamics Inc.

MedWaves, Inc.

Becton, Dickinson, and Company

Report Scope:

In this report, the Global Interventional Oncology Devices Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Interventional Oncology Devices Market,By Product:

oEmbolization Devices

oAblation Devices

oSupport Devices

Interventional Oncology Devices Market,By Procedure:

oThermal Tumor Ablation

oNon-thermal Tumor Ablation

oTranscatheter Arterial Chemoembolization (TACE)

oTranscatheter Arterial Radioembolization (TARE)

oTranscatheter Arterial Embolization (TAE)

Interventional Oncology Devices Market,By Cancer Type:

oLiver

oKidney

oLung

oBone

oOthers

Interventional Oncology Devices Market, By Region:

oNorth America
  • United States
  • Canada
  • Mexico
oEurope
  • France
  • United Kingdom
  • Italy
  • Germany
  • Spain
oAsia-Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
oSouth America
  • Brazil
  • Argentina
  • Colombia
oMiddle East Africa
  • South Africa
  • Saudi Arabia
  • UAE
Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Interventional Oncology Devices Market.

Available Customizations:

Global Interventional Oncology Devices market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).
1.PRODUCT OVERVIEW

1.1.Market Definition
1.2.Scope of the Market
  1.2.1.Markets Covered
  1.2.2.Years Considered for Study
  1.2.3.Key Market Segmentations

2.RESEARCH METHODOLOGY

2.1.Objective of the Study
2.2.Baseline Methodology
2.3.Key Industry Partners
2.4.Major Association and Secondary Sources
2.5.Forecasting Methodology
2.6.Data Triangulation Validation
2.7.Assumptions and Limitations

3.EXECUTIVE SUMMARY

3.1.Overview of the Market
3.2.Overview of Key Market Segmentations
3.3.Overview of Key Market Players
3.4.Overview of Key Regions/Countries
3.5.Overview of Market Drivers, Challenges, and Trends

4.VOICE OF CUSTOMER

5.GLOBAL INTERVENTIONAL ONCOLOGY DEVICES MARKET OUTLOOK

5.1.Market Size Forecast
  5.1.1.By Value
5.2.Market Share Forecast
  5.2.1.By Product (Embolization Devices, Ablation Devices, Support Devices)
  5.2.2.By Procedure (Thermal Tumor Ablation, Non-thermal Tumor Ablation, Transcatheter Arterial Chemoembolization (TACE), Transcatheter Arterial Radioembolization (TARE), Transcatheter Arterial Embolization (TAE))
  5.2.3.By Cancer Type (Liver, Kidney, Lung, Bone, Others)
  5.2.4.By Company (2023)
  5.2.5.By Region
5.3.Market Map

6.NORTH AMERICA INTERVENTIONAL ONCOLOGY DEVICES MARKET OUTLOOK

6.1.Market Size Forecast
  6.1.1.By Value
6.2.Market Share Forecast
  6.2.1.By Product
  6.2.2.By Procedure
  6.2.3.By Cancer Type
  6.2.4.By Country
6.3.North America: Country Analysis
  6.3.1.United States Interventional Oncology Devices Market Outlook
    6.3.1.1.Market Size Forecast
      6.3.1.1.1.By Value
    6.3.1.2.Market Share Forecast
      6.3.1.2.1.By Product
      6.3.1.2.2.By Procedure
      6.3.1.2.3.By Cancer Type
  6.3.2.Mexico Interventional Oncology Devices Market Outlook
    6.3.2.1.Market Size Forecast
      6.3.2.1.1.By Value
    6.3.2.2.Market Share Forecast
      6.3.2.2.1.By Product
      6.3.2.2.2.By Procedure
      6.3.2.2.3.By Cancer Type
  6.3.3.Canada Interventional Oncology Devices Market Outlook
    6.3.3.1.Market Size Forecast
      6.3.3.1.1.By Value
    6.3.3.2.Market Share Forecast
      6.3.3.2.1.By Product
      6.3.3.2.2.By Procedure
      6.3.3.2.3.By Cancer Type

7.EUROPE INTERVENTIONAL ONCOLOGY DEVICES MARKET OUTLOOK

7.1.Market Size Forecast
  7.1.1.By Value
7.2.Market Share Forecast
  7.2.1.By Product
  7.2.2.By Procedure
  7.2.3.By Cancer Type
  7.2.4.By Country
7.3.Europe: Country Analysis
  7.3.1.France Interventional Oncology Devices Market Outlook
    7.3.1.1.Market Size Forecast
      7.3.1.1.1.By Value
    7.3.1.2.Market Share Forecast
      7.3.1.2.1.By Product
      7.3.1.2.2.By Procedure
      7.3.1.2.3.By Cancer Type
  7.3.2.Germany Interventional Oncology Devices Market Outlook
    7.3.2.1.Market Size Forecast
      7.3.2.1.1.By Value
    7.3.2.2.Market Share Forecast
      7.3.2.2.1.By Product
      7.3.2.2.2.By Procedure
      7.3.2.2.3.By Cancer Type
  7.3.3.United KingdomMarket Outlook
    7.3.3.1.Market Size Forecast
      7.3.3.1.1.By Value
    7.3.3.2.Market Share Forecast
      7.3.3.2.1.By Product
      7.3.3.2.2.By Procedure
      7.3.3.2.3.By Cancer Type
  7.3.4.Italy Interventional Oncology Devices Market Outlook
    7.3.4.1.Market Size Forecast
      7.3.4.1.1.By Value
    7.3.4.2.Market Share Forecast
      7.3.4.2.1.By Product
      7.3.4.2.2.By Procedure
      7.3.4.2.3.By Cancer Type
  7.3.5.Spain Interventional Oncology Devices Market Outlook
    7.3.5.1.Market Size Forecast
      7.3.5.1.1.By Value
    7.3.5.2.Market Share Forecast
      7.3.5.2.1.By Product
      7.3.5.2.2.By Procedure
      7.3.5.2.3.By Cancer Type

8.ASIA-PACIFIC INTERVENTIONAL ONCOLOGY DEVICES MARKET OUTLOOK

8.1.Market Size Forecast
  8.1.1.By Value
8.2.Market Share Forecast
  8.2.1.By Product
  8.2.2.By Procedure
  8.2.3.By Cancer Type
  8.2.4.By Country
8.3.Asia-Pacific: Country Analysis
  8.3.1.China Interventional Oncology Devices Market Outlook
    8.3.1.1.Market Size Forecast
      8.3.1.1.1.By Value
    8.3.1.2.Market Share Forecast
      8.3.1.2.1.By Product
      8.3.1.2.2.By Procedure
      8.3.1.2.3.By Cancer Type
  8.3.2.India Interventional Oncology Devices Market Outlook
    8.3.2.1.Market Size Forecast
      8.3.2.1.1.By Value
    8.3.2.2.Market Share Forecast
      8.3.2.2.1.By Product
      8.3.2.2.2.By Procedure
      8.3.2.2.3.By Cancer Type
  8.3.3.South Korea Interventional Oncology Devices Market Outlook
    8.3.3.1.Market Size Forecast
      8.3.3.1.1.By Value
    8.3.3.2.Market Share Forecast
      8.3.3.2.1.By Product
      8.3.3.2.2.By Procedure
      8.3.3.2.3.By Cancer Type
  8.3.4.Japan Interventional Oncology Devices Market Outlook
    8.3.4.1.Market Size Forecast
      8.3.4.1.1.By Value
    8.3.4.2.Market Share Forecast
      8.3.4.2.1.By Product
      8.3.4.2.2.By Procedure
      8.3.4.2.3.By Cancer Type
  8.3.5.Australia Interventional Oncology Devices Market Outlook
    8.3.5.1.Market Size Forecast
      8.3.5.1.1.By Value
    8.3.5.2.Market Share Forecast
      8.3.5.2.1.By Product
      8.3.5.2.2.By Procedure
      8.3.5.2.3.By Cancer Type

9.SOUTH AMERICA INTERVENTIONAL ONCOLOGY DEVICES MARKET OUTLOOK

9.1.Market Size Forecast
  9.1.1.By Value
9.2.Market Share Forecast
  9.2.1.By Product
  9.2.2.By Procedure
  9.2.3.By Cancer Type
  9.2.4.By Country
9.3.South America: Country Analysis
  9.3.1.Brazil Interventional Oncology Devices Market Outlook
    9.3.1.1.Market Size Forecast
      9.3.1.1.1.By Value
    9.3.1.2.Market Share Forecast
      9.3.1.2.1.By Product
      9.3.1.2.2.By Procedure
      9.3.1.2.3.By Cancer Type
  9.3.2.Argentina Interventional Oncology Devices Market Outlook
    9.3.2.1.Market Size Forecast
      9.3.2.1.1.By Value
    9.3.2.2.Market Share Forecast
      9.3.2.2.1.By Product
      9.3.2.2.2.By Procedure
      9.3.2.2.3.By Cancer Type
  9.3.3.Colombia Interventional Oncology Devices Market Outlook
    9.3.3.1.Market Size Forecast
      9.3.3.1.1.By Value
    9.3.3.2.Market Share Forecast
      9.3.3.2.1.By Product
      9.3.3.2.2.By Procedure
      9.3.3.2.3.By Cancer Type

10.MIDDLE EAST AND AFRICA INTERVENTIONAL ONCOLOGY DEVICES MARKET OUTLOOK

10.1.Market Size Forecast
  10.1.1.By Value
10.2.Market Share Forecast
  10.2.1.By Product
  10.2.2.By Procedure
  10.2.3.By Cancer Type
  10.2.4.By Country
10.3.MEA: Country Analysis
  10.3.1.South Africa Interventional Oncology Devices Market Outlook
    10.3.1.1.Market Size Forecast
      10.3.1.1.1.By Value
    10.3.1.2.Market Share Forecast
      10.3.1.2.1.By Product
      10.3.1.2.2.By Procedure
      10.3.1.2.3.By Cancer Type
  10.3.2.Saudi Arabia Interventional Oncology Devices Market Outlook
    10.3.2.1.Market Size Forecast
      10.3.2.1.1.By Value
    10.3.2.2.Market Share Forecast
      10.3.2.2.1.By Product
      10.3.2.2.2.By Procedure
      10.3.2.2.3.By Cancer Type
  10.3.3.UAE Interventional Oncology Devices Market Outlook
    10.3.3.1.Market Size Forecast
      10.3.3.1.1.By Value
    10.3.3.2.Market Share Forecast
      10.3.3.2.1.By Product
      10.3.3.2.2.By Procedure
      10.3.3.2.3.By Cancer Type

11.MARKET DYNAMICS

11.1.Drivers
11.2.Challenges

12.MARKET TRENDS DEVELOPMENTS

12.1.Merger Acquisition (If Any)
12.2.Product Launches (If Any)
12.3.Recent Developments

13.PORTERS FIVE FORCES ANALYSIS

13.1.Competition in the Industry
13.2.Potential of New Entrants
13.3.Power of Suppliers
13.4.Power of Customers
13.5.Threat of Substitute Products

14.COMPETITIVE LANDSCAPE

14.1.Medtronic PLC
  14.1.1.Business Overview
  14.1.2.Company Snapshot
  14.1.3.Products Services
  14.1.4.Financials (As Reported)
  14.1.5.Recent Developments
  14.1.6.Key Personnel Details
  14.1.7.SWOT Analysis
14.2.Terumo Corporation
14.3.Boston Scientific Corporation
14.4.Merit Medical Systems, Inc.
14.5.HealthTronics, Inc.
14.6.Johnson Johnson
14.7.Teleflex Inc.
14.8.Angiodynamics Inc.
14.9.MedWaves, Inc.
14.10.Becton, Dickinson, and Company

15.STRATEGIC RECOMMENDATIONS

16.ABOUT US DISCLAIMER



More Publications