Global Interventional Oncology Market to Reach $6.862 Billion by 2032, Growing at a 9.07% CAGR

With rising cancer diagnoses and advancements in minimally invasive treatments, the interventional oncology sector is positioned for substantial growth.

AUSTIN, TX, UNITED STATES, January 27, 2025 /EINPresswire.com/ -- According to Research by SNS Insider, The Interventional Oncology Market was valued at USD 3.145 billion in 2023 and is projected to grow at a CAGR of 9.07%, reaching USD 6.862 billion by 2032. Factors such as increasing cancer prevalence, advancements in medical technologies, and a shift towards minimally invasive procedures are propelling market growth.

Market Overview
Interventional oncology represents a rapidly expanding field within cancer care, focusing on minimally invasive treatments like ablation and embolization. These methods are effective for targeting tumors while minimizing harm to surrounding healthy tissues. Demand for interventional oncology procedures is rising due to their cost-effectiveness, shorter recovery periods, and reduced complications compared to traditional cancer treatments.

The increasing prevalence of liver, lung, and kidney cancers is significantly driving the demand for interventional oncology solutions. According to the World Health Organization (WHO), cancer cases are expected to rise by 47% globally by 2040, necessitating more effective and accessible treatment options. Technological advancements, such as image-guided devices and precision ablation techniques, are further enhancing treatment efficacy. In addition, the growing geriatric population is contributing to a surge in demand for interventional oncology devices, as age is a significant risk factor for cancer development.

Leading companies in this market, including Boston Scientific, Medtronic, and Terumo Corporation, are investing heavily in research and development to introduce innovative products. With increasing healthcare expenditure and favorable reimbursement policies in developed regions, the interventional oncology market is poised for substantial growth over the forecast period.

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Key Players in Interventional Oncology Market
• Medtronic plc
• Boston Scientific Corporation
• Johnson & Johnson (Ethicon)
• Baxter International Inc.
• Cook Medical
• C.R. Bard Inc. (Acquired by BD)
• AngioDynamics Inc.
• Stryker Corporation
• B. Braun Melsungen AG
• Terumo Corporation
• Siemens Healthineers
• GE Healthcare

Segment Analysis

By Type
Ablation Devices dominated the market, accounting for 47% of the share in 2023. This segment encompasses subcategories like microwave ablation, radiofrequency ablation, cryoablation, and other methods. Ablation devices are widely adopted due to their ability to target tumors effectively with minimal invasiveness. Compared to traditional surgical methods, these devices offer faster recovery times and reduced post-operative complications, making them a preferred choice among patients and healthcare providers alike.

Key players like Boston Scientific and Medtronic are driving innovation in this segment, focusing on advanced technologies such as precision-targeting systems. The increasing prevalence of cancer and growing awareness of minimally invasive treatment options are expected to further boost the adoption of ablation devices.

By Cancer Type
Liver Cancer emerged as the leading segment, capturing 34% of the market share in 2023. The rising incidence of liver cancer, particularly in regions with high rates of hepatitis and alcohol-related diseases, is driving demand for interventional oncology solutions. Advancements in embolization devices, along with increasing preference for minimally invasive procedures, are significant factors contributing to this growth.

Major companies are focusing on developing innovative treatments for liver cancer using interventional devices, further fueling the segment's expansion. The liver cancer segment is projected to maintain its dominance over the forecast period, with a substantial CAGR.

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Interventional Oncology Market Segmentation

By Type
• Radiation Therapy Devices
• Ablation Devices
- Microwave ablation
- Radiofrequency ablation
- Cryoablation
- Others
• Embolization Devices
- Micro catheters
- Guide wires

By Cancer Type
• Lung Cancer
• Liver Cancer
• Kidney Cancer
• Others

By End-User
• Hospitals
• Specialty Clinics
• Others

Regional Analysis
North America held a dominant revenue share of 43.6% in 2023, driven by advanced healthcare infrastructure, favorable reimbursement policies, and a high prevalence of cancer. Increased adoption of innovative technologies and significant investments in research and development by major players further strengthen the region's position.

Asia-Pacific is anticipated to exhibit the highest growth during the forecast period. The growing elderly population, rising cancer prevalence, and increasing adoption of digital healthcare solutions are driving market growth in this region. According to Globocan, 9.7 million out of 19 million global cancer cases in 2020 were reported in Asia-Pacific, underscoring the region's significant demand for interventional oncology solutions.

Europe continues to be a significant contributor to the global market, with increasing government support for cancer treatment and rising public awareness of minimally invasive options. Countries like Germany, France, and the UK are leading in terms of advanced healthcare facilities and the adoption of interventional oncology procedures.

Recent Developments
• January 2024: Delcath Systems, Inc. launched the commercial application of HEPZATO KIT for metastatic uveal melanoma (mUM) treatment.
• May 2023: IceCure Medical installed the ProSense System in India, introducing cryoablation technology to the region.
• September 2022: Fluidx Medical concluded participant enrollment for its GPX embolic device trial targeting renal adenoma tumors.
• March 2022: Merit Medical Systems received FDA approval for Embosphere Microspheres for Genicular Artery Embolization (GAE).
• July 2024: Boston Scientific announced enhancements to its radiofrequency ablation portfolio for treating various cancers.
• November 2023: Medtronic introduced a next-generation cryoablation system designed for enhanced tumor targeting and patient outcomes.

Statistical Insights
• Approximately 20 million new cancer cases were reported globally, with liver, lung, and kidney cancers showing significant increases.
• Minimally invasive procedures accounted for 68% of oncology treatments, reflecting growing adoption due to quicker recovery times.
• North America leads with USD 1.2 trillion in cancer-related healthcare spending, followed by Europe and Asia-Pacific.
• Interventional oncology solutions have penetrated 56% of cancer treatment facilities globally, showcasing significant potential for further adoption.

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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Interventional Oncology Market by Type
8. Interventional Oncology Market by Cancer Type
9. Interventional Oncology Market by End-User
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion

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