Global Interventional Oncology Market Projected to Generate a Revenue of $3,791.50 Million and Rise at a CAGR of 6.5% over the Forecast Timeframe from 2022 to 2030 [210-Pages] | Proclaimed by Research Dive
The global interventional oncology market is expected to experience significant growth by 2030 due to the increasing number of cancer cases globally. Regionally, the North America region is projected to have expansive growth opportunities by 2030.
NEW YORK, May 27, 2022 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "Interventional Oncology Market by Product Type (Embolization Devices, Ablation Devices, and Support Devices), Caner Type (Liver Cancer, Lung Cancer, Bone Metastasis, Kidney Cancer, Breast Cancer, Prostate Cancer, and Other Cancers), End-user (Hospitals, Ambulatory Surgery Centers, and Research & Academic Institutes), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022-2030."
According to the report, the global interventional oncology market is anticipated to generate a revenue of $3,791.50 million and grow at a CAGR of 6.5% over the analysis timeframe from 2022 to 2030.
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Dynamics of the Interventional Oncology Market
With the growing incidences of deaths caused due to cancer all across the globe, the interventional oncology market is expected to observe prominent growth during the estimated period. Besides, the inaccessible treatment options and late-stage diagnoses are the main factors expected to fortify the growth of the market over the forecast period. Moreover, the significant expansion of hospitals and healthcare equipment is expected to amplify the growth of the interventional oncology market during the analysis timeframe. However, the lower product penetration in the low-income regions may restrict the growth of the market throughout the forecast period.
Covid-19 Impact on the Interventional Oncology Market
The rise of the Covid-19 pandemic has badly affected the growth of the interventional oncology market. This is mainly because in many nations the clinic centers and hospitals have turned their operating centers into ICUs and the oncologist have been allocated to treating patients infected with the deadly virus. However, the implementation of advanced robotic-assisted technology by some leading players have helped oncologist to perform tumor ablation. This has uplifted the growth of the market post-pandemic period.
Segments of the Interventional Oncology Market
The report has divided the market into different segments based on product type, cancer type, end-user, and region.
- By product type, the embolization devices sub-segment is expected to be the most lucrative and is predicted to generate revenue of $2,522.50 million during the estimated period. The increasing use of embolization devices to treat hepatocellular carcinoma and other forms of cancers is expected to upsurge the growth of the interventional oncology market's sub-segment during the analysis period.
- By cancer type, the liver cancer sub-segment is projected to be the most productive and is expected to garner a revenue of $1,153.80 million over the forecast period. The increasing research and development activities using interventional oncology for liver cancer therapies are expected to foster the growth of the sub-segment during the estimated period.
- By end-user, the hospital sub-segment is predicted to be most beneficial and is expected to generate a revenue of $2,589.70 million during the analysis timeframe. The increasing adoption of innovative interventional oncology devices in the hospitals is expected to bolster the growth of the sub-segment over the forecast period.
- By region, the Asia-Pacific region of the interventional oncology market is expected to hold the largest share of the market and is predicted to generate a revenue of $836.80 million over the estimated timeframe. The increasing government initiatives to develop innovative cancer diagnostics and treatment procedures in this region are expected to drive the regional growth of the market over the analysis period.
Key Players of the Interventional Oncology Market
The major players of the interventional oncology market include
- AngioDynamics
- J&J
- Merit Medical
- Teleflex
- Terumo
- Medtronic
- Cook Medical
- BD
- HealthTronics
- Boston Scientific
These players are broadly working on the development of new business strategies such as collaborations and partnerships, mergers and acquisitions, and product development to attain a leading position in the global industry.
For instance, in July 2021, Terumo Europe, a leading provider of valued products and services in the healthcare sector, announced its collaboration with University Medical Center Utrecht, the main hospital in the city of Utrecht, Netherlands. With this collaboration, both the parties aimed to make development and the advancement of clinical evidence in the field of selective internal radiation therapy (SIRT) for the treatment of unresectable liver tumors.
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In addition, the report also summarizes other crucial aspects including product portfolio, SWOT analysis, the financial performance of the key players, and the latest strategic developments.
More about Interventional Oncology Market:
- Interventional Oncology: The 4th Pillar of Modern Oncology
- Interventional Oncology: A Boon for Patients Dealing with Various Forms of Cancers
- Collaborations Like that of MEDX Xelerator with West Pharmaceutical Services to Drive the Interventional Oncology Market Growth
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About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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