According to Emergen Research’s current report, the global Interventional Oncology Devices Market is expected to be worth USD 3.11 billion by 2027. The global interventional oncology devices market is expected to proliferate due to the growing preference for minimally invasive treatments. The rise in government initiatives to support interventional oncology is expected to further fuel market growth. In addition, growing technical developments in devices are also expected to accelerate the growth of the industry.
A lack of professional oncologists and radiologists is expected to hinder market growth in the projected timeframe.
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Key Highlights From The Report
- In September 2020, Sirtex Medical Limited announced its strategic investment in Nanospectra Biosciences, Inc. The investment will provide funding to further develop AuroLase, Nanospectra’s leading prostate cancer tissue ablation technology, the first and only ultra-focal ablation procedure aimed at enhancing treatment quality, minimising anesthesia-related adverse effects, chemotherapy, and alternative focal therapies. This procedure uses the company’s proprietary AuroShells nanoparticle technique to minimise the harm of adjacent healthy tissue in order to kill solid cancer tumours.
- The embolization segment accounted for the largest market with a CAGR of 6.7 percent over the projected timeframe, as it is a minimally invasive therapy that provides benefits such as rapid recovery, can be practised and cost-effective by local anaesthesia.
- Bland embolization or transcatheter arterial embolization market share is expected to increase dramatically. This procedure is used for the treatment of liver tumours or for adjunctive treatment after surgery.
- During the projected period, the lung cancer segment would dominate the market because smoking practises have increased the incidences of lung cancer.
- North America is projected to dominate the market due to the growing prevalence of cancer, the easy availability of interventional oncology, and the rapid acceptance of technological advances due to substantial government spending on medical care.
- Key participants include Teleflex Incorporated, Sirtex Medical Limited, IMBiotechnologies Ltd., Boston Scientific Corporation, Merit Medical Systems, Inc., Interface Biomaterials B.V., BTG International Limited, IceCure Medical Ltd, HealthTronics, Inc., and Cook Medical Inc., among others.
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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)
- 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
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- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
- North America
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