The Global Interventional Oncology Devices Market size is estimated to reach $1,538.1 Million by 2026, growing at a CAGR of 6.4% over the forecast period of 2021-2026. Interventional oncology is a branch of interventional radiology that focuses on detecting and treating cancer and cancer-related disorders utilizing image-guided minimally invasive techniques.
Interventional oncology is a branch of modern oncology that uses X-ray, ultrasound, computed tomography (CT), or magnetic resonance imaging (MRI) to guide miniaturized instruments (such as biopsy needles, ablation electrodes, and intravascular catheters) to treat solid tumors with pinpoint accuracy. The acceptance of interventional oncology is being driven by a growing demand for less invasive treatment techniques, increased cancer incidence, an increase in hospitals, and technical breakthroughs in radiology in many nations worldwide.
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Impact of COVID-19 on Interventional Oncology Devices Market
The expansion of the interventional oncology devices market was hampered during COVID-19, particularly in 2020. Even though the interventional oncology clinics continued to function, the firms' revenues suffered a setback.
Key Market Players:
Key Players in Global Interventional Oncology Devices Market consist of Boston Scientific Corporation, C. R. Bard, Inc., Medtronic plc, Cook Medical LLC, Merit Medical Systems, Inc., Profound Medical Corp, AngioDynamics, Inc., BTG plc, Terumo Corporation, HealthTronics, Inc., EDAP TMS S.A., Neuwave Medical, Inc., Sirtex Medical Limited, Trod Medical, Teleflex Incorporated, Sanarus Technologies Inc., IMBiotechnologies Ltd., MedWaves, Inc., and IceCure Medical Ltd.
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Market Segmentation:
The market for interventional oncology devices is segmented on the basis of product type, application, end user, and geography. On the basis of product type, the market is divided into embolization devices, ablation systems, vascular access devices, and others. The embolization devices segment accounted for the largest market share in 2018, and is expected to witness significant growth during the forecast period. This growth can be attributed to the increasing demand for these devices, owing to their cost-effectiveness and their ability to provide precise treatment.
On the basis of application, the market is segmented into lung cancer, liver cancer, prostate cancer, and other cancers. The liver cancer segment is expected to witness significant growth during the forecast period. This growth can be attributed to the increasing prevalence of primary and secondary liver cancers and the rising demand for advanced treatments.
On the basis of end user, the market is segmented into hospitals, specialty clinics, and other end users. The hospitals segment is expected to witness the highest growth during the forecast period. This growth can be attributed to the increasing number of cancer cases and the growing preference for advanced treatments.
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Geographically, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America is expected to dominate the market during the forecast period, owing to the availability of advanced healthcare infrastructure, the presence of a well-established healthcare system, and the increasing number of cancer patients in the region.
TOC:
Chapter 1 Interventional Oncology Devices Market Overview
1.1 Product Overview and Scope of Interventional Oncology Devices
1.2 Interventional Oncology Devices Market Segmentation By Product Type
1.2.1 Radio-embolic agents
1.2.2 non-radioactive embolic agents
1.2.3 Tumor ablation
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