Global Interventional Oncology Market

Global Interventional Oncology Market Size, Share, Growth Analysis, By Therapy(Radiation Therapy, Ablation Devices), By Cancer Type(Liver Cancer, Kidney Cancer), By End-User(Hospitals, Ambulatory surgical centres), By Procedure([Embolization (TARE, TACE)), By Product Type(Embolization Devices, Ablation Devices) - Industry Forecast 2024-2031


Report ID: SQMIG35G2238 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 147 | Figures: 78

Global Interventional Oncology Market Competitive Landscape

The market's key players are undertaking various strategic initiatives such as the signing of a collaborations, new partnership agreement, mergers and acquisitions, geographic coverage, with the goal of strengthening their product portfolio and manufacturing capacities, thereby providing a competitive advantage. In 2021, Boston Scientific (US) led the worldwide interventional oncology market. To improve its market presence and product offerings, the corporation primarily relies on growth tactics such as acquisitions and expansions. The acquisition of BTG by the firm will help it increase its product portfolio in chemoembolization, radioembolization, and ablation treatments. Boston Scientific works hard to get regulatory and reimbursement approvals. As part of its long-term growth plan, the firm invests in both fast-growing and new areas in order to improve its position in the global healthcare sector.

Interventional Oncology Market Top Player's Company Profiles

  • Medtronic (Ireland)
  • Teleflex (US)
  • Boston Scientific Corporation
  • BTG International Ltd. (acquired by Boston Scientific)
  • Cook Medical Inc.
  • AngioDynamics Inc.
  • Terumo Corporation
  • Merit Medical Systems Inc.
  • Johnson & Johnson Services Inc.
  • MedWaves, Inc.
  • Healthtronics Inc.
  • Trod Medical
  • InSightec Ltd.
  • Sirtex Medical Limited
  • Sanarus Technologies, LLC
  • C.R. Bard, Inc. (acquired by Becton, Dickinson and Company)
  • Guerbet Group
  • Varian Medical Systems, Inc.
  • Nanobiotix SA
  • OncoTherapy Science, Inc.

Interventional Oncology Market Recent Development

  • In September 2022, Philips announces significant development milestones for the world's first spectral detector Angio CT system. Leiden University Medical Centre has joined a global network of partners in the development of the Philips Spectral Angio CT suite and its application in clinical research, bringing spectral CT imaging technology into an integrated hybrid Angio CT suite with the goal of innovating a variety of treatment procedures.
  • In September 2022, Merit Medical Systems, Inc. a global manufacturer and marketer of healthcare equipment, has announced the commercial launch of the Prelude Roadster Guide Sheath in the United States. The Merit Vascular-Peripheral Access portfolio now includes the Prelude Roadster, in addition to introducers and other devices such as access kits, vascular dilators, and accessories.
  • In September 2022, Aster Hospitals Bengaluru, a subsidiary of Aster DM Healthcare, has established the Aster International Institute of Oncology (AIIO). This newly established institute will serve as a centre of excellence for the treatment of all malignancies under one roof.
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Interventional Oncology Market size was valued at USD 1984 million in 2019 and is poised to grow from USD 2134.78 million in 2023 to USD 4127.28 million by 2031, growing at a CAGR of 7.6% in the forecast period (2024-2031).

The market's key players are undertaking various strategic initiatives such as the signing of a collaborations, new partnership agreement, mergers and acquisitions, geographic coverage, with the goal of strengthening their product portfolio and manufacturing capacities, thereby providing a competitive advantage. In 2021, Boston Scientific (US) led the worldwide interventional oncology market. To improve its market presence and product offerings, the corporation primarily relies on growth tactics such as acquisitions and expansions. The acquisition of BTG by the firm will help it increase its product portfolio in chemoembolization, radioembolization, and ablation treatments. Boston Scientific works hard to get regulatory and reimbursement approvals. As part of its long-term growth plan, the firm invests in both fast-growing and new areas in order to improve its position in the global healthcare sector. 'Medtronic (Ireland)', 'Teleflex (US)', 'Boston Scientific Corporation', 'BTG International Ltd. (acquired by Boston Scientific)', 'Cook Medical Inc.', 'AngioDynamics Inc.', 'Terumo Corporation', 'Merit Medical Systems Inc.', 'Johnson & Johnson Services Inc.', 'MedWaves, Inc.', 'Healthtronics Inc.', 'Trod Medical', 'InSightec Ltd.', 'Sirtex Medical Limited', 'Sanarus Technologies, LLC', 'C.R. Bard, Inc. (acquired by Becton, Dickinson and Company)', 'Guerbet Group', 'Varian Medical Systems, Inc.', 'Nanobiotix SA', 'OncoTherapy Science, Inc.'

Patients' Preference for Least Invasive Therapies Is Growing

The organisations are now concentrating on improving performance by incorporating robotics technology into interventional oncology equipment. Robotic systems have improved accuracy and efficiency by combining image-based planning and navigation with the placement of various instruments for the targeted body part. Furthermore, the fast increase in cancer incidence worldwide, along with a growing desire for less invasive therapies, is boosting market growth throughout the projection period. In addition, increased government and private financing for cancer research, particularly for treatment devices that encourage early detection and enhance survival rates, has fuelled market expansion. Interventional Oncology therapies can be quite beneficial to patients.

In 2021, North America held the largest share of the global interventional oncology market, followed by Europe, Asia-Pacific, Latin America, and the Middle East and Africa. However, Asia-Pacific will be the fastest expanding regional market due to the region's faster economic expansion and increased government attention on the healthcare sector. Furthermore, government initiatives to develop healthcare facilities, rising cancer incidence and prevalence, rising awareness of overall health and treatment availability, increasing middle-class population and disposable income, increasing health insurance penetration, and a growing ageing population in the region are key factors driving the growth of the Asia-Pacific interventional oncology market.

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Global Interventional Oncology Market

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