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LI20101567 |
Pages: 210 |
May 2022 |
Increasing rate of cancer cases worldwide to upsurge the global interventional oncology market growth. Cancer is one of the fastest growing medical conditions across the world. For instance, according to latest data collected by World Health Organization (WHO), in 2022, nearly 10 million cancer patients died in 2020, out of which breast cancer patients were maximum. Also, same report mentions that every year, approximately 2.26 million children, worldwide, suffer from cancer. Thus, the rising demand for a proper line of care program or a technique to manage cancer cases, worldwide, is expected to have an accelerating interventional oncology market share growth in the forecast time period.
However, lower product penetration of interventional oncology in the middle or low-income countries, may restrict the market growth. Apart from this, in many rural parts of developing countries, most people have low disposable income due to which they are unable to afford high healthcare expenses. Such factors are also responsible for hindering the interventional oncology market size growth rate in the coming years.
According to the regional analysis of the interventional oncology market, the Asia- Pacific market is expected to surge at a CAGR of 7.9%, by registering a revenue of $836.80 million, throughout the analysis period.
Interventional oncology (IO) is the emerging subspecialty that mainly utilizes image-guided procedures (diagnostics/surgeries) in order to improve cancer care. Along with surgical, medical, and radiation, now IO can be considered the 4th pillar of modern oncology care. IO is primarily emphasized on 3 prominent areas of cancer intervention namely therapy, diagnosis, and symptom palliation. Advances in cross-sectional imaging modalities like ultrasound, magnetic resonance (MR), computed tomography (CT), and positron emission tomography (PET) have enabled progress in IO (PET).
The corona virus pandemic has had significantly disrupted the growth of the industries worldwide, creating a mass disturbance for sellers as well as buyers. Moreover, the pandemic of COVID-19 has deeply impacted the activity of IO in cancer centers and hospitals. In majority of the nations, clinic centers and hospitals have turned their operating theater to intensive care units (ICU) and mobilized oncologist to fight against coronavirus. Such elements have negatively affected the global interventional oncology market.
However, in November 2021, Quantum Surgical, France based innovative healthcare company, announced to exhibit an advanced robotic-assisted technology, Epione, at the Radiological Society of North America’s (RSNA) 2021. Epione is a new category of interventional oncology robotics that allows surgeons to plan, target, deliver, and confirm tumor ablation. Such inventions are further projected to create enormous opportunities, in the global interventional oncology market, post coronavirus outbreak.
Cancer is the 2nd leading cause of death worldwide and was responsible for almost 9.6 million deaths in 2018. Around 70% of deaths were reported from cancer in low- and middle-income economies. As per data published by the International Agency for Research on Cancer, intergovernmental agency forming part of the World Health Organization of the United Nations, in 2018, there were 17.0 million new cancer cases worldwide. By 2040, the global burden is predicted to increase to 27.5 million new cancer cases and 16.3 million cancer deaths mainly owing to the aging population across the globe. Inaccessible treatment options and late-stage diagnosis are the main elements responsible for growing mortality from cancerous diseases globally. All these facts and figures showcase that the demand for effective cancer care options is expected to rise, which may ultimately surge the global interventional oncology market.
To know more about global interventional oncology market drivers, get in touch with our analysts here.
However, lack of information regarding the interventional oncology across the middle or low-income countries may restrain the market growth of global interventional oncology market, throughout the projected period. Further, high cost of interventional oncology devices may also negatively impact the interventional oncology market, in the coming years. Apart from this, lack of reimbursements policies in many countries is also likely to impede market share growth in the
Asian countries such as India, Japan, China, and Singapore have experienced notable expansion of hospitals & healthcare equipment manufacturers in the recent several years. Furthermore, the extensively increasing awareness among the Asian consumers regarding enhancing the cancer care has also increased. In addition to this, burden of various chronic cancerous conditions along with geriatric population is increasing in the APAC region. Thereby, the adoption and constant growth of interventional oncology in this region have increased, which can create the market opportunities for global interventional oncology industry, in the forecast period. Also, IO has also advanced with integration of latest technology. Artificial intelligence and robotic technology have the potential to improve needle placement precision and reduce overall operation time. New 3D imaging and contrast agents, as well as therapeutic ultrasound development, could lead to new breakthroughs in this imaging modality for IO. Biopsies of aggressive tumor regions can be guided using specific ultrasonic agents. Another growing field is high-intensity targeted ultrasound ablation.
To know more about global interventional oncology market opportunities, get in touch with our analysts here.
Based on product type, the market has been divided into embolization devices, ablation devices, and support devices sub-segments of which the embolization devices sub-segment is anticipated to garner the dominant market share, throughout the analysis period.
Source: Research Dive Analysis
The embolization devices sub-segment is expected to have the dominating share in the global market and register a revenue of $2,522.50 million by 2030.
Embolization devices mainly comprised of radio embolic agents and non-radioactive embolic agents. These devices play crucial role in the treatment of hepatocellular carcinoma, and various other forms of cancer in which the tumor size is large. Moreover, embolization devices are also utilized in palliative procedures in order to enhance the outcome of liver resection. All these factors are expected to augment the growth of embolization sub-segment, in the analysis period.
Based on cancer type, the market has been divided into liver cancer, lung cancer, bone metastasis, kidney cancer, breast cancer, prostate cancer, and other cancers sub-segments of which the liver cancer sub-segment is anticipated to have maximum share, throughout the analysis period.
Source: Research Dive Analysis
The liver cancer sub-segment is expected to have the dominating share in the global market and register a revenue of $1,153.80 million by 2030.
Interventional oncology has important part in treating liver tumor with keeping healthy liver for effective functioning. Thus, primary liver tumors caused by metastatic cancer can be successfully treated by advanced interventional oncology surgeries. In addition to this, growing cases of liver cancer worldwide along with rising research/development activities utilizing interventional oncology in order to enhance liver cancer therapies are some of the elements bolstering the liver cancer sub-segment’s growth.
Based on end-user, the market has been categorized into hospitals, ambulatory surgery centers, and research & academic institutes. Out of these, the hospitals sub-segment is anticipated to garner the maximum revenue in the global market, throughout the analysis period.
Source: Research Dive Analysis
The hospitals sub-segment of the global interventional oncology market holds prominent share and is estimated to surpass $2,589.70 million by 2030, with a rise from $1,463.70 million in 2021.Massive increase in the prevalence of cancer worldwide, increase in awareness about advanced oncological therapies in developing region, and noticeable R&D funding are some of the driving elements fueling the sub-segment’s growth. Along with this, enhancement of healthcare infrastructure and surged adoption of innovative interventional oncology devices such as embolization and ablation devices in the hospitals may create enormous opportunities for the hospitals sub-segment, in the coming years.
The interventional oncology market was investigated across North America, Europe, Asia-Pacific, and LAMEA.
Source: Research Dive Analysis
Asia-Pacific interventional oncology market accounted $417.90 million in 2021 and is projected to generate a revenue of $836.80 million by 2030.
The massive support from the government authorities to fortify effective innovative cancer diagnostics and treatment in Asian countries, is one of the major reasons driving interventional oncology market, in the APAC region. Also, Asia-Pacific region is backed by huge population base in countries, namely China and India, where enormous improvements in healthcare infrastructure are taking place. Moreover, the increasing awareness programs initiated by government as well as non-governmental bodies are contributing to the growth of the interventional oncology market in Asia-pacific region.
Interventional oncology market in North America region is highly competitive and leading companies in the market are adopting multiple strategies to garner maximum North America interventional oncology market share. North America interventional oncology market accounted $912.60 million in 2021 and is expected to register a revenue of $1,544.30 million by 2030.
Furthermore, increase in the geriatric population along with growing cancer prevalence & incidence is creating positive impact on the North America interventional oncology market. In addition to this, key elements like rising cancer related healthcare expenditure and growing need for state-of-the-art cancer care options are surging the adoption of interventional oncology in the US and Canada.
Source: Research Dive Analysis
Some of the leading interventional oncology market players are Medtronic, Boston Scientific, BD, Terumo, Merit Medical, AngioDynamics, J&J, Teleflex, Cook Medical, and HealthTronics.
| Aspect | Particulars |
| Historical Market Estimations | 2020-2021 |
| Base Year for Market Estimation | 2021 |
| Forecast timeline for Market Projection | 2022-2030 |
| Geographical Scope | North America, Europe, Asia-Pacific, LAMEA |
| Segmentation by Product Type |
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| Segmentation by Cancer Type |
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| Segmentation by End-user |
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| Key Countries Covered | U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, China, Japan, India, Australia, South Korea, Rest of Asia-Pacific, Brazil, Saudi Arabia, United Arab Emirates, Rest of LAMEA |
| Key Companies Profiled |
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1.Research Methodology
1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters
1.5.Market size estimation
1.5.1.Top-down approach
1.5.2.Bottom-up approach
2.Report Scope
2.1.Market definition
2.2.Key objectives of the study
2.3.Report overview
2.4.Market segmentation
2.5.Overview of the impact of COVID-19 on Global interventional oncology market
3.Executive Summar
4.Market Overview
4.1.Introduction
4.2.Growth impact forces
4.2.1.Drivers
4.2.2.Restraints
4.2.3.Opportunities
4.3.Market value chain analysis
4.3.1.List of raw material suppliers
4.3.2.List of manufacturers
4.3.3.List of distributors
4.4.Innovation & sustainability matrices
4.4.1.Cancer Type matrix
4.4.2.Regulatory matrix
4.5.Porter’s five forces analysis
4.5.1.Bargaining power of suppliers
4.5.2.Bargaining power of consumers
4.5.3.Threat of substitutes
4.5.4.Threat of new entrants
4.5.5.Competitive rivalry intensity
4.6.PESTLE analysis
4.6.1.Political
4.6.2.Economical
4.6.3.Social
4.6.4.Technological
4.6.5.Environmental
4.7.Impact of COVID-19 on interventional oncology market
4.7.1.Pre-covid market scenario
4.7.2.Post-covid market scenario
5.Interventional Oncology Market, by Product type
5.1.Overview
5.1.1.Market size and forecast, by Product type
5.2.Embolization Devices
5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by region, 2022-2030
5.2.3.Market share analysis, by country 2022 & 2030
5.3.Ablation Devices
5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, by region, 2022-2030
5.3.3.Market share analysis, by country 2022 & 2030
5.4.Support Devices
5.4.1.Key market trends, growth factors, and opportunities
5.4.2.Market size and forecast, by region, 2022-2030
5.4.3.Market share analysis, by country 2022 & 2030
5.5.Research Dive Exclusive Insights
5.5.1.Market attractiveness
5.5.2.Competition heatmap
6.Interventional Oncology Market, by Cancer Type
6.1.Overview
6.1.1.Market size and forecast, by Cancer Type
6.2.Liver Cancer
6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast, by region, 2022-2030
6.2.3.Market share analysis, by country 2022 & 2030
6.3.Lung Cancer
6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast, by region, 2022-2030
6.3.3.Market share analysis, by country 2022 & 2030
6.4.Bone Metastasis
6.4.1.Key market trends, growth factors, and opportunities
6.4.2.Market size and forecast, by region, 2022-2030
6.4.3.Market share analysis, by country 2022 & 2030
6.5.Kidney Cancer
6.5.1.Key market trends, growth factors, and opportunities
6.5.2.Market size and forecast, by region, 2022-2030
6.5.3.Market share analysis, by country 2022 & 2030
6.6.Breast Cancer
6.6.1.Key market trends, growth factors, and opportunities
6.6.2.Market size and forecast, by region, 2022-2030
6.6.3.Market share analysis, by country 2022 & 2030
6.7.Prostate Cancer
6.7.1.Key market trends, growth factors, and opportunities
6.7.2.Market size and forecast, by region, 2022-2030
6.7.3.Market share analysis, by country 2022 & 2030
6.8.Others
6.8.1.Key market trends, growth factors, and opportunities
6.8.2.Market size and forecast, by region, 2022-2030
6.8.3.Market share analysis, by country 2022 & 2030
6.9.Research Dive Exclusive Insights
6.9.1.Market attractiveness
6.9.2.Competition heatmap
7.Interventional Oncology Market, by End-User
7.1.Overview
7.1.1.Market size and forecast, by End-User
7.2.Hospitals
7.2.1.Key market trends, growth factors, and opportunities
7.2.2.Market size and forecast, by region, 2022-2030
7.2.3.Market share analysis, by country 2022 & 2030
7.3.Ambulatory Surgery Centers
7.3.1.Key market trends, growth factors, and opportunities
7.3.2.Market size and forecast, by region, 2022-2030
7.3.3.Market share analysis, by country 2022 & 2030
7.4.Research & Academic Institutes
7.4.1.Key market trends, growth factors, and opportunities
7.4.2.Market size and forecast, by region, 2022-2030
7.4.3.Market share analysis, by country 2022 & 2030
7.5.Research Dive Exclusive Insights
7.5.1.Market attractiveness
7.5.2.Competition heatmap
8.Interventional Oncology Market, by Region
8.1.North America
8.1.1.U.S.
8.1.1.1.Market size analysis, by Product type
8.1.1.2.Market size analysis, by Cancer Type
8.1.1.3.Market size analysis, by End-User
8.1.2.Canada
8.1.2.1.Market size analysis, by Product type
8.1.2.2.Market size analysis, by Cancer Type
8.1.2.3.Market size analysis, by End-User
8.1.3.Mexico
8.1.3.1.Market size analysis, by Product type
8.1.3.2.Market size analysis, by Cancer Type
8.1.3.3.Market size analysis, by End-User
8.1.4.Research Dive Exclusive Insights
8.1.4.1.Market attractiveness
8.1.4.2.Competition heatmap
8.2.Europe
8.2.1.Germany
8.2.1.1.Market size analysis, by Product type
8.2.1.2.Market size analysis, by Cancer Type
8.2.1.3.Market size analysis, by End-User
8.2.2.UK
8.2.2.1.Market size analysis, by Product type
8.2.2.2.Market size analysis, by Cancer Type
8.2.2.3.Market size analysis, by End-User
8.2.3.France
8.2.3.1.Market size analysis, by Product type
8.2.3.2.Market size analysis, by Cancer Type
8.2.3.3.Market size analysis, by End-User
8.2.4.Spain
8.2.4.1.Market size analysis, by Product type
8.2.4.2.Market size analysis, by Cancer Type
8.2.4.3.Market size analysis, by End-User
8.2.5.Italy
8.2.5.1.Market size analysis, by Product type
8.2.5.2.Market size analysis, by Cancer Type
8.2.5.3.Market size analysis, by End-User
8.2.6.Rest of Europe
8.2.6.1.Market size analysis, by Product type
8.2.6.2.Market size analysis, by Cancer Type
8.2.6.3.Market size analysis, by End-User
8.2.7.Research Dive Exclusive Insights
8.2.7.1.Market attractiveness
8.2.7.2.Competition heatmap
8.3.Asia Pacific
8.3.1.China
8.3.1.1.Market size analysis, by Product type
8.3.1.2.Market size analysis, by Cancer Type
8.3.1.3.Market size analysis, by End-User
8.3.2.Japan
8.3.2.1.Market size analysis, by Product type
8.3.2.2.Market size analysis, by Cancer Type
8.3.2.3.Market size analysis, by End-User
8.3.3.India
8.3.3.1.Market size analysis, by Product type
8.3.3.2.Market size analysis, by Cancer Type
8.3.3.3.Market size analysis, by End-User
8.3.4.Australia
8.3.4.1.Market size analysis, by Product type
8.3.4.2.Market size analysis, by Cancer Type
8.3.4.3.Market size analysis, by End-User
8.3.5.South Korea
8.3.5.1.Market size analysis, by Product type
8.3.5.2.Market size analysis, by Cancer Type
8.3.5.3.Market size analysis, by End-User
8.3.6.Rest of Asia Pacific
8.3.6.1.Market size analysis, by Product type
8.3.6.2.Market size analysis, by Cancer Type
8.3.6.3.Market size analysis, by End-User
8.3.7.Research Dive Exclusive Insights
8.3.7.1.Market attractiveness
8.3.7.2.Competition heatmap
8.4.LAMEA
8.4.1.Brazil
8.4.1.1.Market size analysis, by Product type
8.4.1.2.Market size analysis, by Cancer Type
8.4.1.3.Market size analysis, by End-User
8.4.2.Saudi Arabia
8.4.2.1.Market size analysis, by Product type
8.4.2.2.Market size analysis, by Cancer Type
8.4.2.3.Market size analysis, by End-User
8.4.3.UAE
8.4.3.1.Market size analysis, by Product type
8.4.3.2.Market size analysis, by Cancer Type
8.4.3.3.Market size analysis, by End-User
8.4.4.South Africa
8.4.4.1.Market size analysis, by Product type
8.4.4.2.Market size analysis, by Cancer Type
8.4.4.3.Market size analysis, by End-User
8.4.5.Rest of LAMEA
8.4.5.1.Market size analysis, by Product type
8.4.5.2.Market size analysis, by Cancer Type
8.4.5.3.Market size analysis, by End-User
8.4.6.Research Dive Exclusive Insights
8.4.6.1.Market attractiveness
8.4.6.2.Competition heatmap
9.Competitive Landscape
9.1.Top winning strategies, 2021
9.1.1.By strategy
9.1.2.By year
9.2.Strategic overview
9.3.Market share analysis, 2021
10.Company Profiles
10.1.Medtronic
10.1.1.Overview
10.1.2.Business segments
10.1.3.Product portfolio
10.1.4.Financial performance
10.1.5.Recent developments
10.1.6.SWOT analysis
10.2.Boston Scientific
10.2.1.Overview
10.2.2.Business segments
10.2.3.Product portfolio
10.2.4.Financial performance
10.2.5.Recent developments
10.2.6.SWOT analysis
10.3.BD
10.3.1.Overview
10.3.2.Business segments
10.3.3.Product portfolio
10.3.4.Financial performance
10.3.5.Recent developments
10.3.6.SWOT analysis
10.4.Terumo
10.4.1.Overview
10.4.2.Business segments
10.4.3.Product portfolio
10.4.4.Financial performance
10.4.5.Recent developments
10.4.6.SWOT analysis
10.5.Merit Medical
10.5.1.Overview
10.5.2.Business segments
10.5.3.Product portfolio
10.5.4.Financial performance
10.5.5.Recent developments
10.5.6.SWOT analysis
10.6.AngioDynamics
10.6.1.Overview
10.6.2.Business segments
10.6.3.Product portfolio
10.6.4.Financial performance
10.6.5.Recent developments
10.6.6.SWOT analysis
10.7.J&J
10.7.1.Overview
10.7.2.Business segments
10.7.3.Product portfolio
10.7.4.Financial performance
10.7.5.Recent developments
10.7.6.SWOT analysis
10.8.Teleflex
10.8.1.Overview
10.8.2.Business segments
10.8.3.Product portfolio
10.8.4.Financial performance
10.8.5.Recent developments
10.8.6.SWOT analysis
10.9.Cook Medical
10.9.1.Overview
10.9.2.Business segments
10.9.3.Product portfolio
10.9.4.Financial performance
10.9.5.Recent developments
10.9.6.SWOT analysis
10.10.HealthTronics
10.10.1.Overview
10.10.2.Business segments
10.10.3.Product portfolio
10.10.4.Financial performance
10.10.5.Recent developments
10.10.6.SWOT analysis
11.Appendix
11.1.Parent & peer market analysis
11.2.Premium insights from industry experts
11.3.Related reports
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