Product ID: SQMIG35G2238
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 Insights
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).
Interventional oncology (IO) is a branch of interventional radiology focused with the treatment and diagnosis of cancer and cancer-related diseases utilising image-guided minimally invasive techniques. Interventional oncologists work with patients in the infirmary, admit them to hospitals, participate on the tumour review board and multidisciplinary treatment team, all while actively working on cancer diagnosis and administration. With medical, surgical, and radiation oncology, the rapidly developing field of interventional oncology has evolved into a foundation of cancer care. The global Interventional Oncology Market is growing mostly as a result of firms resuming to operations and adjusting to the new normal while recuperating from the effects of COVID-19. Furthermore, the increased use of interventional oncology approaches to detect and treat cancer with minimally invasive techniques and improved imaging technologies is propelling the devices market, which is predicted to expand significantly during the forecasted period. Furthermore, with increasing market rivalry, the fast adoption of modern technology to enhance healthcare has favourably altered market growth.
Interventional oncology provides patients with additional therapeutic options. Furthermore, while surgical removal of tumours is generally recognised to be the best effective long-term therapy, it is sometimes unachievable due to tumour size, quantity, or location. Interventional oncology (IO) therapies are often used to reduce tumours, allowing for surgery or interventional therapy. Interventional oncology approaches are essentially divided between diagnostic treatments that aid in the tissue diagnosis of suspected neoplasms and therapeutic procedures that try to cure or lessen the tumour. The benefit of these procedures is that they have a far lower influence on the rest of the body and the organ being treated. It also provides a shorter recovery period than typical open procedures. Interventional Oncology therapies can be quite beneficial to patients. Because the therapies are less invasive, they are less painful, have fewer side effects, and need less time to recover from. Many IO treatments may be performed as outpatient procedures, freeing up hospital beds and lowering expenses. Funding from the public and commercial sectors assists in the development of new technologies and equipment, driving the Interventional Oncology Market ahead. The increased incidence of product recalls, on the other hand, is anticipated to dampen demand for interventional oncology equipment. Furthermore, the absence of scientific proof for limited area therapy and rigorous regulation will hinder market expansion.
Furthermore, the paucity of well-trained and qualified oncologists, as well as a dearth of clinical evidence to support treatment efficacy, may represent a danger to market expansion. Furthermore, emerging economies provide the industry with significant development potential. Rapid economic development and rising healthcare spending in some emerging nations are projected to improve access to high-quality treatment.
US Interventional Oncology Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Interventional Oncology Market Report Snapshots
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