Interventional Oncology Devices Market : Opportunities and Challenges in a Rapidly Evolving Industry
The rising government initiatives and the increasing preference for minimally invasive procedures are driving the demand for the market.
VANCOUVER, BRITISH COLUMBIA, CANADA, February 7, 2023 /EINPresswire.com/ -- The global Interventional Oncology Devices Market is forecasted to be worth USD 3.11 Billion by 2027, according to a current analysis by Emergen Research. Due to the increasing preference for minimally invasive treatments, the global Interventional Oncology Devices market is expected to proliferate. It is anticipated that increasing government initiatives to encourage Interventional Oncology will further boost the market growth. Besides, the rising technological advancements in the devices are also expected to augment the market growth.
The market growth in the forecast timeline is expected to be impeded by a lack of skilled oncologists and radiologists.
Interventional Oncology Devices Market By Product Type (Support, Embolization, Ablation), By Process, By Cancer Type (Lung Cancer, Liver Cancer, Bone Cancer, Breast Cancer, Prostate Cancer, Kidney Cancer, Others), By Region Forecasts to 2027
The segment of lung cancer will dominate the market during the forecasted period since smoking habits have increased the incidence of lung cancer.
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Key participants include 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., and Cook Medical Inc., among others.
Key Highlights from the Report
In September 2020, The strategic investment in Nanospectra Biosciences, Inc. was announced by Sirtex Medical Limited. The investment will offer funding to improve further Nanospectra 's leading prostate cancer tissue ablation device AuroLase, the first and only ultra-focal ablation treatment intended to enhance the efficiency of treatment, reducing adverse effects related to anesthesia, chemotherapy, and alternate focal therapies. In order to destroy solid cancer tumors, this treatment uses the company's patented AuroShells nanoparticle technique to minimize the damage of neighboring healthy tissue.
Over the forecasted timeline, the Embolization segment accounted for the largest market with a CAGR of 6.7%, since it is a minimally invasive therapy that offers advantages such as quick recovery, can be practiced through local anesthesia, and cost-effective.
It is anticipated that Bland Embolization or Transcatheter Arterial Embolization will expand significantly. This method is being used for the treatment of liver tumors or for postsurgical adjunctive treatment.
Due to the rising prevalence of cancer, easy availability of interventional oncology, and the fast adoption of technological advancement owing to significant government spending on medical treatment, the North American region is expected to dominate the market.
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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; 2017-2027)
Support
Embolization
Ablation
Process Outlook (Revenue, USD Billion; 2017-2027)
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; 2017-2027)
Lung Cancer
Liver Cancer
Bone Cancer
Breast Cancer
Prostate Cancer
Kidney Cancer
Others
Regional Outlook (Revenue, USD Billion; 2017-2027)
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
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Look Over transcripts provided by Emergen Research
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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