The global interventional oncology market size was estimated to be USD 3.48 billion in 2023 and is expected to reach at USD 8.06 billion by 2034 with a CAGR of 7.94% during the forecast period 2024-2034. Surge in prevalence of cancer, rising preference for minimally invasive procedures, increasing funding from the government, growing focus on development of innovative products by key market players, surge in technological advancements, rising focus on development of technologically advanced products, and rising launch of new treatments products for cancer are some of the key factors boosting the market growth.
Rising launch of new treatments products for cancer is predicted to boost the market growth during the forecast period. Interventional oncology procedures involve the diagnosis and treatment of cancer through minimally invasive techniques performed under the guidance of medical imaging. This process relies on tools such as X-ray, ultrasound, computed tomography (CT), or magnetic resonance imaging (MRI) for precise guidance. During interventional oncology procedures, cancerous tissue is specifically targeted and eliminated with the aid of image-guided planning and execution. These procedures are typically conducted in a state-of-the-art oncology Cath Lab or with the assistance of CT/USG (ultrasound) guidance. The treatments involve the use of specialized accessories and instruments like ablation electrodes, guidewires, biopsy needles, and intravascular catheters, enabling the treatment of tumors located in distant parts of the body. For instance, in March 2022, Guerbet has introduced a series of guidewires and expanded its product portfolio to include microcatheters, thereby offering a comprehensive selection of interventional imaging and embolization solutions.
By product, radiation therapy was the highest revenue-grossing segment in the global interventional oncology market in 2023 owing to increasing technological advancements in radiation therapy, growing prevalence of common cancer including breast cancer, skin cancers, prostate cancer, rectal cancer, & esophageal cancer, and rising approvals by regulatory bodies. For instance, For instance, in May 2022, Gland Pharma has unveiled the release of Bortezomib for Injection, a cancer treatment medication, in the United States. The company revealed that it has introduced this product to the U.S. market through a partner who has obtained approval from the US Food and Drug Administration (USFDA). Bortezomib for Injection is utilized in the treatment of cancer types such as multiple myeloma and mantle cell lymphoma. Additionally, ablation is predicted to grow at fastest CAGR during the forecast period owing to the growing adoption of minimally invasive procedures for treating tumors & other aberrant bodily parts.
By cancer type, breast cancer was the highest revenue-grossing segment in the global interventional oncology market in 2023 owing to increasing prevalence of breast cancer and surge in product launches. Additionally, lung cancer is predicted to grow at fastest CAGR during the forecast period owing to the growing prevalence of lung cancer, and rising partnership & collaborations within market players. For instance, in September 2022, Philips has revealed significant milestones in the development of the world's first spectral detector Angio CT system. Leiden University Medical Centre has joined a global network of partners collaborating on the advancement of the Philips Spectral Angio CT suite and its use in clinical research. This initiative aims to integrate spectral CT imaging technology into a hybrid Angio CT suite, with the ultimate goal of innovating various treatment procedures.
By end-user, hospitals was the highest revenue-grossing segment in the global interventional oncology market in 2023 owing to surge in number of patient admissions, increasing adoption of specialized equipment such as laser devices & Light-Emitting Diodes (LEDs), to deliver treatments in a controlled & safe manner, enhanced availability of modern and digitally advanced equipment, along with a growing number of hospitals establishing dedicated mammography testing departments, and rising research & development activities. For instance, In September 2022, Fluidx Medical has successfully completed enrollment in a trial for its GPX embolic device. This multicenter trial utilized GPX for the treatment of various primary and metastatic tumors, renal adenoma tumors, and a variety of other arterial and venous applications. It's important to note that the GPX embolic device is still in the developmental phase. Additionally, ASCs is predicted to grow at fastest CAGR during the forecast period as it serves as a cost-effective and efficient alternative to a hospital operating room, the reduction in costs & decreased out-of-pocket expenses for patients, outpatient surgery centers are usually more accessible or convenient for patients to reach.
North America region is anticipated for the highest revenue share during the forecast period owing to the growing prevalence of cancer, rising adoption of minimally invasive procedures, surge in product launches, increasing investment by private & government bodies, growing technological advancements in medical imaging, and rising mergers & acquisitions within market players. For instance, in August 2022, Boston Scientific Corporation has confirmed its acquisition of Obsidio, Inc., a privately-held company known for developing Gel Embolic Material (GEM) technology used for embolizing blood vessels in the peripheral vasculature. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising awareness regarding the cancer, growing prevalence of cancer, surge in research & development activities, and increasing launch of new products. For instance, in January 2023, BDR Pharmaceutical has introduced its generic version of Apalutamide, a medication used in the treatment of prostate cancer, in India. The drug is being marketed in India under the brand name APATIDE and is indicated for the treatment of both metastatic castration-sensitive and non-metastatic castration-resistant prostate cancer.
Rising launch of new treatments products for cancer is predicted to boost the market growth during the forecast period. Interventional oncology procedures involve the diagnosis and treatment of cancer through minimally invasive techniques performed under the guidance of medical imaging. This process relies on tools such as X-ray, ultrasound, computed tomography (CT), or magnetic resonance imaging (MRI) for precise guidance. During interventional oncology procedures, cancerous tissue is specifically targeted and eliminated with the aid of image-guided planning and execution. These procedures are typically conducted in a state-of-the-art oncology Cath Lab or with the assistance of CT/USG (ultrasound) guidance. The treatments involve the use of specialized accessories and instruments like ablation electrodes, guidewires, biopsy needles, and intravascular catheters, enabling the treatment of tumors located in distant parts of the body. For instance, in March 2022, Guerbet has introduced a series of guidewires and expanded its product portfolio to include microcatheters, thereby offering a comprehensive selection of interventional imaging and embolization solutions.
By product, radiation therapy was the highest revenue-grossing segment in the global interventional oncology market in 2023 owing to increasing technological advancements in radiation therapy, growing prevalence of common cancer including breast cancer, skin cancers, prostate cancer, rectal cancer, & esophageal cancer, and rising approvals by regulatory bodies. For instance, For instance, in May 2022, Gland Pharma has unveiled the release of Bortezomib for Injection, a cancer treatment medication, in the United States. The company revealed that it has introduced this product to the U.S. market through a partner who has obtained approval from the US Food and Drug Administration (USFDA). Bortezomib for Injection is utilized in the treatment of cancer types such as multiple myeloma and mantle cell lymphoma. Additionally, ablation is predicted to grow at fastest CAGR during the forecast period owing to the growing adoption of minimally invasive procedures for treating tumors & other aberrant bodily parts.
By cancer type, breast cancer was the highest revenue-grossing segment in the global interventional oncology market in 2023 owing to increasing prevalence of breast cancer and surge in product launches. Additionally, lung cancer is predicted to grow at fastest CAGR during the forecast period owing to the growing prevalence of lung cancer, and rising partnership & collaborations within market players. For instance, in September 2022, Philips has revealed significant milestones in the development of the world's first spectral detector Angio CT system. Leiden University Medical Centre has joined a global network of partners collaborating on the advancement of the Philips Spectral Angio CT suite and its use in clinical research. This initiative aims to integrate spectral CT imaging technology into a hybrid Angio CT suite, with the ultimate goal of innovating various treatment procedures.
By end-user, hospitals was the highest revenue-grossing segment in the global interventional oncology market in 2023 owing to surge in number of patient admissions, increasing adoption of specialized equipment such as laser devices & Light-Emitting Diodes (LEDs), to deliver treatments in a controlled & safe manner, enhanced availability of modern and digitally advanced equipment, along with a growing number of hospitals establishing dedicated mammography testing departments, and rising research & development activities. For instance, In September 2022, Fluidx Medical has successfully completed enrollment in a trial for its GPX embolic device. This multicenter trial utilized GPX for the treatment of various primary and metastatic tumors, renal adenoma tumors, and a variety of other arterial and venous applications. It's important to note that the GPX embolic device is still in the developmental phase. Additionally, ASCs is predicted to grow at fastest CAGR during the forecast period as it serves as a cost-effective and efficient alternative to a hospital operating room, the reduction in costs & decreased out-of-pocket expenses for patients, outpatient surgery centers are usually more accessible or convenient for patients to reach.
North America region is anticipated for the highest revenue share during the forecast period owing to the growing prevalence of cancer, rising adoption of minimally invasive procedures, surge in product launches, increasing investment by private & government bodies, growing technological advancements in medical imaging, and rising mergers & acquisitions within market players. For instance, in August 2022, Boston Scientific Corporation has confirmed its acquisition of Obsidio, Inc., a privately-held company known for developing Gel Embolic Material (GEM) technology used for embolizing blood vessels in the peripheral vasculature. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising awareness regarding the cancer, growing prevalence of cancer, surge in research & development activities, and increasing launch of new products. For instance, in January 2023, BDR Pharmaceutical has introduced its generic version of Apalutamide, a medication used in the treatment of prostate cancer, in India. The drug is being marketed in India under the brand name APATIDE and is indicated for the treatment of both metastatic castration-sensitive and non-metastatic castration-resistant prostate cancer.
Segmentation: Interventional Oncology Market Report 2023 - 2034
Interventional Oncology Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)
- Ablation
- Radiation Therapy
- Particle Embolization
Interventional Oncology Market Analysis & Forecast by Cancer Type 2023 - 2034 (Revenue USD Bn)
- Breast Cancer
- Liver Cancer
- Kidney Cancer
- Lung cancer
- Prostate Cancer
- Other
Interventional Oncology Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Ambulatory Surgical Centers (ASCs)
- Hospitals
Interventional Oncology Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Interventional Oncology Market: Product Estimates & Trend Analysis
8. Interventional Oncology Market: Cancer Type Estimates & Trend Analysis
9. Interventional Oncology Market: End-user Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Interventional Oncology Market
12. Europe Global Interventional Oncology Market
13. Asia Pacific Global Interventional Oncology Market
14. Latin America Global Interventional Oncology Market
15. MEA Global Interventional Oncology Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Teleflex Incorporated
- Siemens Healthineers
- Boston Scientific Corporation
- Terumo Corporation
- Hologic Inc.
- AngioDynamics
- Profound Medical
- Merit Medical
- Medtronic Plc.
- Alpinion Medical Systems Co. Ltd.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | January 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 3.48 Billion |
| Forecasted Market Value ( USD | $ 8.06 Billion |
| Compound Annual Growth Rate | 7.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
