Interventional Oncology Market: Increasing Investments in Cancer Research
What This Report Will Provide? This study involved four major activities in estimating the current size of the interventional oncology market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market.
The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the size of segments and subsegments.
Expected Revenue Growth: [180 Pages Report] The global interventional oncology market is projected to reach USD 2.9 billion by 2024 from USD 2.0 billion in 2019, at a CAGR of 6.8%
Major Growth Boosters: The growth of this market is primarily driven by the rising preference for minimally invasive procedures, expansion of the target patient population, increasing public-private funding and government support for cancer research, technological advancements in the field of interventional oncology, and increasing government investments and funding for interventional oncology and related cancer research.
Key Questions Addressed in The Report: 1. Who are the top 10 players operating in the global Interventional Oncology market?
2. What are the drivers, restraints, opportunities, and challenges in the Interventional Oncology Industry?
3. What are the opportunities for stakeholders and provide details of the competitive landscape for key players?
4. What will be growth of Interventional Oncology in North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa?
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Recent Developments: In 2017, Terumo Corporation (Japan) launched the QuiremSpheres Microspheres in Europe.
In 2017, Medtronic PLC (Ireland) launched its OptiSphere embolization spheres designed for hypervascular tumor embolization in the US.
In 2016, Ethicon (Johnson and Johnson, US) acquired NeuWave Medical, Inc. (US), and consequently the NeuWave microwave ablation portfolio with the aim to expand its product portfolio in the interventional oncology market.
Regional Growth Analysis: The Asia Pacific regional market is expected to grow at the highest CAGR during the forecast period. Emerging economies in the region such as India, China, and South Korea, along with developed markets such as Japan and Australia, are offering high-growth opportunities for market players in the field of interventional oncology. This can be attributed to factors such as the increasing adoption of interventional oncology procedures, growing incidence of cancer, and the growing geriatric population.
The embolization devices segment accounted for the largest share of the interventional oncology market in 2018. The large share of this segment can be attributed to the rising prevalence of cancer, product enhancements, and the increasing adoption of Yttrium-90 radioembolic agents in emerging countries.
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Key Players: The major players operating in the interventional oncology market include BTG plc (UK), Medtronic (Ireland), Boston Scientific (US), Terumo (Japan), Merit Medical (US), Sirtex (China), AngioDynamics (US), Ethicon (US), Teleflex (US), Cook Medical (US), HealthTronics (US), MedWaves Medical (US), Sanarus (US), IMBiotechnologies (Canada), Trod Medical (US), IceCure Medical (Israel), Mermaid Medicals (Denmark), Interface Biomaterials BV (Netherlands), Guerbet (France), ABK Biomedical (Canada), Shape Memory Medical (US), Endo Shape (US), Monteris Medical (US), Instylla (US), and Trisalus Lifesciences (US), among others.