The interventional oncology market is on a promising growth trajectory, set to experience substantial expansion in the short term. A recently released report provides key insights into the factors shaping the markets growth in the coming years.
Mounting Preference for Minimally Invasive Procedures
Interventional oncology, a catheter-based approach that delivers treatment directly to tumors, is gaining prominence as an effective minimally invasive treatment for various types of cancer. Unlike traditional therapies such as surgery, radiation, and chemotherapy, interventional oncology minimizes side effects and maximizes patient comfort and quality of life. It is emerging as a precise treatment option for symptomatic relief, tumor control, remission, and even complete cure, especially for liver, colorectal, lung, bone/soft tissue, kidney, and metastatic cancers. These image-guided procedures can be performed alone or in combination with other treatments, providing comprehensive care.
The key advantages of minimally invasive procedures include fewer postoperative complications, shorter hospital stays, less pain, smaller incisions, lower infection risk, reduced post-operative care, and faster recovery times. As cancer incidence continues to rise globally, the demand for interventional oncology products and treatments is increasing.
Higher Prevalence of Liver Cancer
Liver cancer dominates the interventional oncology market due to the difficulty of surgically removing tumors without harming healthy surrounding tissue. Interventional oncology is essential for treating both primary and metastatic liver tumors. The rising incidence of liver cancer worldwide and increased research and development efforts in interventional oncology-based liver cancer therapies contribute to the significant share of this segment in the market. According to the World Health Organization (WHO), liver cancer accounts for 2.09 million cancer cases globally, and this number is expected to rise with the growing population.
Asia Pacific as a Growth Driver
The Asia Pacific region leads in interventional oncology utilization and is projected to experience the fastest growth during the forecast period. Factors contributing to this growth include the commercialization of advanced interventional procedures and products, supportive regulations, increased healthcare expenditure, and expanded research efforts in countries such as Japan, China, and India. The high cancer incidence in densely populated nations like China and India, coupled with evolving healthcare systems and government initiatives to improve healthcare, are driving market growth. In addition, top international interventional oncology device companies are investing in the region, further fueling market expansion.
Competitive Landscape
Key players in the interventional oncology market include Instylla, Merit Medical, Medtronic, Boston Scientific, Terumo, Trisalus Lifesciences, BD, AngioDynamics, J&J, Trod Medical, Teleflex, Cook Medical, HealthTronics, MedWaves, Profound Medical Corp, Sanarus, ABK Biomedical, Interface Biomaterials BV, IMBiotechnologies, Mermaid Medicals, IceCure Medical, Guerbet, Shape Memory Medical, Sirtex, Baylis Medical, Endo Shape, Monteris Medical, Accuray, and ALPINION MEDICAL SYSTEMS.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/interventional-oncology-market
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COMTEX_442320029/2840/2023-10-23T08:21:13