PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1649593
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1649593
The interventional oncology market is projected to reach USD 4.24 billion by 2029 from USD 2.75 billion in 2024, at a CAGR of 9.0% during the forecast period. Interventional oncology, has seen significant growth over the past decade. Progress in minimally invasive techniques and an increase in cancer prevalence rates have contributed significantly to this boom. Initially, the market for interventional oncology was underdeveloped owing to the long-standing use of traditional surgical approaches for cancer; however, growing evidence of safety and efficacy from interventional treatments like TACE, TARE, and thermal ablation sparked interest in using these treatments. These techniques have many advantages, such as shorter recovery times, fewer complications, and better overall patient outcomes compared to conventional surgery. The increasing demand for effective treatments for inoperable tumors, especially liver, lung, and kidney cancers, has driven the growth of the market.
Scope of the Report | |
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Years Considered for the Study | 2024-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD) |
Segments | Devices & Consumables, Cancer Type, Procedure, End User and Region |
Regions covered | North America, Europe, APAC, LATAM, and MEA (GCC Countries, RoMEA) |
"By devices & consumables, embolization devices segment is expected to have the largest market share in the interventional oncology market."
Based on devices & consumables, the market share of embolization devices in the interventional oncology sector is highest, as these are crucial tools in minimally invasive cancer treatments that provide an overwhelming advantage over conventional surgical methods. These devices act by reducing or cutting off the blood flow to the tumor, thus starving the tumor of the oxygen and nutrients needed for growth. The growing trend of embolization procedures, TACE, and radioembolization, which is also called selective internal radiation therapy, can be attributed to their proven success in the treatment of inoperable cancers, especially liver cancer, which remains a significant concern in interventional oncology. Improvements in embolic agents, including drug-eluting beads and radioactive microspheres, have improved accuracy and therapeutic outcomes and are therefore becoming more popular. Such factors as the increased global incidence of cancer, increased awareness of non-invasive treatment options, and shift towards outpatient care models further contribute to the growing use of such devices.
"By cancer type, liver cancer segment is expected to have the largest market share in the interventional oncology market."
Based on cancer type, liver cancer is the biggest market share in the interventional oncology segment, primarily due to its increasing global incidence, high mortality rate, and the urgent need for effective, minimally invasive treatment solutions. Hepatocellular carcinoma, the most common form of liver cancer, is closely associated with risk factors such as chronic hepatitis B and C infections, excessive alcohol use, and the growing prevalence of non-alcoholic fatty liver disease. Targeted treatments such as TACE, TARE, and percutaneous ablation in interventional oncology have been very effective in the treatment of unresectable liver cancers. These interventions provide localized tumor control, reduced systemic toxicity, and improved survival outcomes compared to traditional chemotherapy.
"By procedure, transcatheter arterial radioembolization (TARE) or selective internal radiation therapy (SIRT) segment is expected to have the largest market share in the interventional oncology market."
Based on procedure, transcatheter arterial radioembolization (TARE), also referred to as selective internal radiation therapy (SIRT), holds the largest market share in the interventional oncology sector due to its demonstrated efficacy in managing both primary and secondary liver cancers, which account for a significant portion of cancer-related mortalities worldwide. This procedure involves injecting microspheres that are infused with radioactive isotopes, most commonly Yttrium-90, directly into the hepatic artery that feeds the tumor. TARE is effective in killing tumor cells with minimal systemic exposure and reduced damage to healthy surrounding tissues by delivering localized radiation. It is becoming increasingly popular because of a superior safety profile, enhanced tolerability, and fewer adverse effects than conventional chemotherapy and external beam radiation therapy. In addition, TARE is particularly useful in patients with unresectable hepatocellular carcinoma and liver metastases from colorectal cancer, in whom alternative treatments are less effective or unavailable.
"By end user, hospitals segment is expected to have the largest market share in the interventional oncology market."
Based on end user, transcatheter arterial radioembolization (TARE), also referred to as selective internal radiation therapy (SIRT), holds the largest market share in the interventional oncology sector due to its demonstrated efficacy in managing both primary and secondary liver cancers, which account for a significant portion of cancer-related mortalities worldwide. This procedure involves injecting microspheres that are infused with radioactive isotopes, most commonly Yttrium-90, directly into the hepatic artery that feeds the tumor. TARE is effective in killing tumor cells with minimal systemic exposure and reduced damage to healthy surrounding tissues by delivering localized radiation. It is becoming increasingly popular because of a superior safety profile, enhanced tolerability, and fewer adverse effects than conventional chemotherapy and external beam radiation therapy. In addition, TARE is particularly useful in patients with unresectable hepatocellular carcinoma and liver metastases from colorectal cancer, in whom alternative treatments are less effective or unavailable.
"By region, North America region is expected to have the largest market share in the interventional oncology market."
The market share of interventional oncology is dominated by hospitals because of their wide infrastructure, latest technology, and multidisciplinary expertise necessary to perform advanced interventional procedures. Techniques such as TACE, TARE, and tumor ablation are highly specialized and minimally invasive and require access to sophisticated imaging systems, catheterization laboratories, and experienced interventional radiologists. Tertiary care centers and dedicated cancer hospitals have more of such facilities, so these are ideally placed as the first option for interventional oncology treatment. Additionally, a hospital would offer complete treatment; it offers diagnosis, treatment, post-treatment care, and follow-up. This helps in attracting the wide patient spectrum looking for one-stop solutions to treat cancer.
Prominent players in the interventional oncology market are are Siemens Healthineers AG (Varian) (US), Medtronic (Ireland), Boston Scientific Corporation (US), Terumo Corporation (Japan), Merit Medical Systems (US), Johnson & Johnson MedTech (Ethicon) (US), Stryker (US), Teleflex Incorporated (US), AngioDynamics (US), Cook (US), Icecure Medical (Israel), Olympus Corporation (Japan), Imbiotechnologies Ltd (Canada), Medwaves Inc (US), Minimax Medical Limited (China), ABK Biomedical Inc (Canada), RF Medical Co., Ltd (South Korea), Profound Medical (Canada), Surgnova (China), STARmed America (US), Sirtex SIR-Spheres Pty Ltd (US), Accuray Incorporated (US), Guerbet (France), Embolx, Inc (Canada) and Sonablate Corp (US).
The report analyzes the interventional oncology market and aims at estimating the market size and future growth potential of this market based on various segments such as devices & consumables, cancer type, procedure, end user and region. The report also includes a competitive analysis of the key players in this market along with their company profiles, service offerings, recent developments, and key market strategies.
Reasons to Buy the Report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall interventional oncology market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.