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Interventional Oncology Devices Market : Opportunities and Challenges in a Rapidly Evolving Industry

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The rising government initiatives and the increasing preference for minimally invasive procedures are driving the demand for the market.

Interventional Oncology Devices Market Size – USD 1.92 billion in 2019, Market Growth - CAGR of 6.6 %, Market Trends”
— Emergen Research

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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About Us:

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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Emergen Research
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