The increasing prevalence of cancer is expected to drive the growth of the global interventional oncology devices market in the forecast period, 2024-2028F.
According to TechSci Research report, “Interventional Oncology Devices Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F”, Global interventional oncology devices market is anticipated to grow at an impressive rate in the forecast period, 2024-2028. This can be ascribed to the increasing demand for minimally invasive procedures for the treatment of different types of cancer advantages of using this device for a shorter hospital stay, minimal risk of infection, cause less pain, and faster recovery time in comparison to other surgeries across the globe is expected to create lucrative opportunities for the market growth in coming years. Besides, the availability of private and government funding for research and development activities in cancer disease is further expected to support the market growth. Similarly, the availability of skilled professionals for helping patients as well as using the devices is expected to boost the market growth during the forecast period. Additionally, government and private organizations are taking initiative and investing in the medical sector for the development of better healthcare infrastructure in the underdeveloped regions along with favorable reimbursement procedures will boost the market growth during the forecast period. However, the scarcity of skilled lab professionals to run the diagnostics tests tend to slow down the growth of the global interventional oncology devices market in the forecast period. Similarly, inadequate distribution of funds for the research purpose in academic and research institutes along with limited operations in most of the industries, because of temporary lockdown of academic institutes, and manufacturers, can further restrict the growth of the global interventional oncology devices market. Additionally, lack of awareness about new technology for the treatment of cancer in the developing region along with rising product recall is also hampering the market growth during the forecast period.
Browse over XX market data Figures spread through 110 Pages and an in-depth TOC on “Global Interventional Oncology Devices Market“
The global interventional oncology devices market can be segmented by product, procedure, cancer type, and by region.
Based on product, the global interventional oncology devices market can be segmented into Embolization Devices, Ablation Devices, and Support Devices. The embolization devices segment dominated the market in 2022 and is expected to continue maintaining its dominance throughout the forecast period. This can be ascribed to the increasing preference of patients and healthcare professionals towards minimally invasive treatment because it provides immediate relief, less blood loss, less risk and is cost-effective.
Based on cancer type, the market can be segmented into Liver, Kidney, Lung, Bone, and Others. The lung cancer segment is expected to dominate during the forecast period on account of increasing number of patients suffering from lung cancer and growing habit of smoking among the young generation across the globe.
Major companies operating in the global interventional oncology devices market are:
- Medtronic plc.
- Terumo Corporation.
- Merit Medical Systems, Inc.
- Philips Volcano.
- Johnson & Johnson
- Teleflex Inc.
- Angiodynamics Inc.
- Becton, Dickinson and Company.
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“North America is expected to dominate in the global interventional oncology devices market due to the increasing prevalence of cancer, growing geriatric population, increasing development of better healthcare, and rising adoption of advanced treatments across the region. Furthermore, the increasing developments in new technology along with rising government investments in healthcare, and rapid adoption of new technology among patients and healthcare providers, are expected to create lucrative growth during the forecast period. Besides, the availability of skilled professionals and increasing demand for minimally invasive procedures in hospitals and clinics in the region are further expected to create lucrative opportunities for the market growth” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Interventional Oncology Devices Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F, Segmented By Product (Embolization Devices, Ablation Devices, Support Devices), By Procedure (Thermal Tumor Ablation, Non-thermal Tumor Ablation, Transcatheter Arterial Chemoembolization (TACE), Transcatheter Arterial Radioembolization (TARE), Transcatheter Arterial Embolization (TAE)), By Cancer Type (Liver, Kidney, Lung, Bone, Others) and By Region”, has evaluated the future growth potential of global interventional oncology devices market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global interventional oncology devices market.
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