Vancouver, Nov. 16, 2023 (GLOBE NEWSWIRE) -- The global Interventional Oncology Devices Market is forecasted to be worth USD 4.28 Billion by 2032, according to a current analysis by Emergen Research. Over the forecasted period, the global market of Interventional Oncology Devices is anticipated to expand significantly, owing to the rising funding for cancer research by several private companies. Besides, the rising prevalence of fo cancer is expected to drive the market growing rapidly over the forecasted period.
The number of deaths of men and women is projected to rise by 15.2% by 2020. Cancer accounted for 9.6 million deaths till now, according to the World Health Organization (WHO), with 70.0 % of new cases of cancer anticipated to be recorded within the next two decades. Furthermore, the rising advantageous repayment for interventional oncology treatment is anticipated to augment the market growth shortly.
However, during the forecast period, stringent regulatory changes are expected to restrain market development.
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Segments Covered in the report
| Report Details | Outcome |
| The market size value in 2019 | USD 1.92 Billion |
| CAGR (2023 - 2032) | 6.6% |
| The revenue forecast in 2032 | USD 4.28 Billion |
| The base year for estimation | 2022 |
| Historical data | 2019 - 2021 |
| Forecast period | 2023 - 2032 |
| Quantitative units | Volume in Tons, Revenue in USD Thousand, and CAGR from 2023 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Product Type, Process, Cancer Type, and Region |
| Regional scope | North America; Europe; Asia Pacific; Central & South America; MEA |
| Country scope | U.S.; Canada; Mexico; U.K.; Germany; France; BENELUX; Italy; Spain; China; India; Japan; South Korea; Brazil; Saudi Arabia; South Africa; Turkey |
| Key companies profiled | Sirtex Medical Limited, Teleflex Incorporated, Boston Scientific Corporation, INterface BIOmaterials B.V., Merit Medical Systems, Inc., BTG International Limited, IMBiotechnologies Ltd., IceCube Medical Ltd, HealthTronics, Inc., and Cook Medical Inc., among others |
| Customization scope | 10 hrs of free customization and expert consultation |
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MAJOR COMPANIES and Market Share Analysis
The market for Interventional Oncology Devices is consolidated, with a few numbers of medium and small-sized players. Some of the top players in the Interventional Oncology Devices Market comprise:
-
- Sirtex Medical Limited
- Teleflex Incorporated
- Boston Scientific Corporation
- INterface BIOmaterials B.V.
- Merit Medical Systems, Inc.
- BTG International Limited
- IMBiotechnologies Ltd.
- IceCure Medical Ltd
- HealthTronics, Inc.
- Cook Medical Inc.
Strategic Development
- In October 2020, Teleflex Incorporated announced the acquisition of Z-Medica, LLC. The acquisition will enhance the hemostatic product offerings of Teleflex and strengthen its position in the United States.
- In September 2020, Farapulse, Inc. was acquired by Boston Scientific Corporation. This acquisition will help Boston Scientific to develop a pulsed-field ablation system used for atrial fibrillation and other cardiac arrhythmias.
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Key Highlights from The Report
- In May 2019, Boston Scientific Corporation acquired Vertiflex, Inc. The incorporation will enhance the pain management portfolio and its leadership plan for the pain category, whereas simultaneously offering doctors with effective non-opioid pain management solutions.
- During the forecast period, the ablation segment will experience significant growth. Ablation kills cancer cells with the use of electrical heat generation. The doctor uses imaging tests to guide a tiny needle through the skin into the cancer tissue.
- Over the forecasted timeframe, the Transcatheter Arterial Radioembolization is forecasted to dominate the market since this process helps better liver functioning and ensure no extrahepatic spreading.
- Due to the rising incidence of breast cancer among women at the current time, the breast cancer segment is anticipated to witness substantial growth with a CAGR of 6.7%.
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Emergen Research has segmented the global Interventional Oncology Devices Market on the basis of product type, process, cancer type, and region:
- Product Type Outlook (Revenue, USD Billion; 2019-2032)
- Support
- Embolization
- Ablation
- Process Outlook (Revenue, USD Billion; 2019-2032)
- Non-Thermal Tumor Ablation
- Thermal Tumor Ablation
- Transcatheter Arterial Radioembolization
- Transcatheter Arterial Chemoembolization
- Bland Embolization or Transcatheter Arterial Embolization
- Cancer Type Outlook (Revenue, USD Billion; 2019-2032)
- Lung Cancer
- Liver Cancer
- Bone Cancer
- Breast Cancer
- Prostate Cancer
- Kidney Cancer
- Others
- Regional Outlook (Revenue, USD Billion; 2019-2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
- North America
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