Interventional Oncology Market
Interventional Oncology (IO) is a rapidly growing field in cancer care that uses minimally invasive procedures performed under image guidance to diagnose and treat patients with liver, kidney, lung, and other cancers. Rather than removing tumors through open surgical procedures, these image-guided procedures can be performed in place of or in combination with other cancer treatments to provide truly comprehensive care. The advantage of these methods is that I.O. has much less effect on the body compared to conventional procedures.
An estimated by IQ4I Research, the interventional oncology global market is expected to grow a high single digit CAGR from 2019 to 2026 to reach $2,119.4 million by 2026. Some of the factors driving the market are increasing prevalence of cancer cases, growing adoption of minimally invasive procedures, increasing geriatric population, technological advancements in the field of interventional oncology, and expansion in the emerging markets.
Some of the major players in interventional oncology market include Medtronic Plc (Ireland), Sirtex Medical (Australia), Boston Scientific Corporation (U.S.), Guerbet (France), Merit Medical System (U.S.), Varian Medical System, Inc. (U.S.), Terumo Corporation (Japan), Johnson & Johnson (U.S.), AngioDynamics, Inc. (U.S.), and Monteris Medical (U.S.).
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The interventional oncology market by product is segmented as ablation and embolization. The embolization segment holds the highest revenue in 2019 and it is expected to grow at a high single digit CAGR from 2019 to 2026. The ablation segment is the fastest-growing segment with a high single digit CAGR from 2019 to 2026.
Ablation global market by product type, it is segmented into radiofrequency ablation, microwave ablation, cryoablation and others (irreversible electroporation and MRI-guided laser ablation). Among ablation, microwave ablation holds the highest revenue in 2019 and it is expected to grow at a high single digit CAGR from 2019 to 2026. The other segment is the fastest-growing segment with a high double digit CAGR from 2019 to 2026. Embolization global market by product type, it is segmented into Radio-embolization and non-radioembolization. Among embolization, non-radioembolization holds the highest revenue in 2019 and it is expected to grow at a mid single digit CAGR from 2019 to 2026. The radio-embolization segment is the fastest-growing segment with a high single digit CAGR from 2019 to 2026. The embolization global market by procedure, it is segmented into trans-arterial radioembolization (TARE)/selective internal radiation therapy (SIRT), transcranial chemo-embolization (TACE), drug-eluting beads transcranial chemo-embolization (DEB-TACE) and transcranial embolization (TAE)/bland embolization. Among procedures, TARE/SIRT segment is the fastest-growing segment with a high single digit CAGR from 2019 to 2026.
interventional Oncology (I.O.) global market by application is segmented into liver cancer, kidney cancer, lung cancer, brain & spine cancer, prostate cancer, uterine fibroid and others. Among interventional oncology applications, the liver cancer segment holds the highest revenue in 2019 and it is expected to grow at a high single digit CAGR from 2019 to 2026. The brain & spine cancer segment is the fastest-growing segment with a low double digit CAGR from 2019 to 2026.
Ablation global market by application is segmented into liver cancer, kidney cancer, lung cancer, brain & spine cancer, prostate cancer, and others. Among ablation applications, the liver cancer segment holds the highest revenue in 2019 and it is expected to grow at a high single digit CAGR from 2019 to 2026. The brain & spine cancer segment is the fastest-growing segment with a low double digit CAGR from 2019 to 2026. Embolization global market by application is segmented into liver cancer, lung cancer, prostate cancer, uterine fibroid and other. Among embolization applications, the liver cancer segment holds the highest revenue in 2019 and it is expected to grow at a high single digit CAGR from 2019 to 2026. The uterine fibroid segment is the fastest-growing segment with a high single digit CAGR from 2019 to 2026.
Interventional Oncology global market by end-users is segmented into hospitals, ambulatory surgical centers (ASC), academics & research institutes. Among end-users, the hospital segment holds the highest revenue in 2019 and it is expected to grow at a high single digit CAGR from 2019 to 2026. The ambulatory surgical center segment is the fastest-growing segment with a high single digit CAGR from 2019 to 2026.
Interventional oncology market by region is segmented as North America (U.S. and Rest of North America), Europe (Germany, France, Italy and Rest of Europe), Asia-Pacific (China, Japan, Australia and Rest of APAC) and Rest of the world (Brazil, Rest of LATAM and Middle East & Others). North America holds the highest revenue in 2019 and it is expected to grow at a high single digit CAGR from 2019 to 2026 due to adoption of the technological advancements, increasing incidences of cancer, increased training institutes for interventional oncology, increasing demand for minimally invasive surgeries, favorable reimbursement, product launches, skilled personnel, and strong product pipeline. The Asia-Pacific region is the fastest-growing region with a low double digit CAGR from 2019 to 2026 due to increasing geriatric population, increased healthcare facilities, increasing incidence of cancer, increasing awareness about interventional oncology and low-cost for the surgery are driving the market.
The interventional oncology global market is a consolidated market with top 5 players occupying major share of the market hence all the existing players in this market are involved in developing new and advanced therapeutics to maintain their market shares.
The report provides an in-depth market analysis of the above-mentioned segments across the following regions:
• North America
o U.S.
o Rest of North America
• Europe
o Germany
o France
o Italy
o Rest of Europe
• Asia-Pacific
o Japan
o China
o Australia
o Rest of APAC
• Rest of the World (RoW)
o Brazil
o Rest of LATAM
o Middle East and Others
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