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The Worldwide Interventional Oncology Industry is Expected to Reach $2.9 Billion by 2028
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Dublin, Nov. 24, 2022 (GLOBE NEWSWIRE) -- The "Global Interventional Oncology Market Size, Share & Industry Trends Analysis Report By Cancer Type (Liver Cancer, Lung Cancer, Kidney Cancer, Breast Cancer, Prostate Cancer, Bone Metastasis), By Product Type, By End User, By Regional Outlook and Forecast, 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The Global Interventional Oncology Market size is expected to reach $2.9 billion by 2028, rising at a market growth of 6.2% CAGR during the forecast period.
Interventional oncology (IO) is an emerging subspecialty that emphasizes on using image-guided processes (diagnostics/surgeries) to improve cancer therapy. Along with surgery, medication, and radiation, IO is currently the fourth pillar of modern oncology care.
The three key areas of cancer intervention that IO focuses on are diagnosis, therapy,and symptom relief. Improvements in cross-sectional imaging techniques such as ultrasound, computed tomography (CT),magnetic resonance (MR), and positron emission tomography (PET) have enabled progress in IO (PET).
Because of the rising number of cancer cases among individuals around the world, the interventional oncology market is expected to rise faster in the coming years. Cancer is one of the most rapidly developing health problems, impacting individuals of different ages. Breast cancer & throat cancer are two of the most common types of cancer in individuals. The need for technologically improved cancer management therapy has expanded in tandem with the rise in the number of cancer patients.
Patients with cancer, both adults and children, have benefited from the innovative interventional oncology therapy line. In the coming years, such advancements are expected to have a positive influence on interventional oncology marketgrowth. IO, along with Medical, Surgical, and Radiation Oncology, has successfully established itself as a significant treatment specialism within multidisciplinary oncologic care. In today's cancer care, IO is currently regarded the fourth pillar.
Though surgical removal of tumours is typically thought to be the greatest therapy, it is not always achievable owing to the tumor's size, quantity, or location. IO treatments can be used to reduce a tumour, allowing for surgery or interventional treatment. A few patients may be unable to endure open surgery due to their health.
COVID-19 Impact Analysis
Patients have constrained themselves from going to visit hospitals and clinics for diagnosis of medical problems other than coronavirus symptoms owing to the increase incidence of coronaviral transmission. As a result, fewer cancer patients have reported to hospitals for treatment.
The market is confronted with production and supply chain problems, such as providing items to end users on time and catering to an inconsistent demand for the sector's products and services.
Furthermore, a scarcity of talented lab experts to perform diagnostic tests, restricted operations in most businesses, insufficient financing for research & academic institutes, the temporary closure of main academic institutes, a disrupted supply chain, and obstacles in offering a service owingto lockdowns have all contributed to a decrease in the supply of interventional oncology products to end users. As a result, the pandemic is unlikely to have long-term consequences for the basic growth drivers or end consumers in the economy.
Market Growth Factors
More efficiency and quick recovery offered by interventional oncology
While utilizing medical imaging technologies during vascular therapies, radiologists & technologists have a lot of sight. Professionals can accurately identify and treat diseases throughout the operation, which can take less than an hour in some cases.
These procedures are also regarded a more effective usage medical resources than major surgery because they are relatively rapid. Because most outpatient processes, particularly interventional radiology, are less costly than inpatient hospital stays, patients often find interventional radiology to be a more cost-effective therapy.
Shifting preference of people towards minimally invasive procedure
Because of the benefits given by these techniques over traditional treatment processes, the demand for minimally invasive procedures has increased significantly in recent years. Fewer operating complications, shorter hospitalization, reduced pain, smaller & more cosmetic incisions, reduced risk of infection, less post-surgical care, and faster recovery are all benefits of minimally invasive procedures.
Sophisticated technology is used in minimally invasive treatments to detect and cure a variety of disorders, including cancer. These treatments are intended to remove malignant tumours and lymph nodes from the body without leaving scars.
Market Restraining Factors
Restricted clinical data to maintain therapeutic efficacy
A medication must have comprehensive safety data from Phase I studies, established effectiveness from Phase II trials, and analysis of clinical results better than current therapies from randomized, controlled Phase III trials before it can be introduced as a standard of care. In addition, performing well-controlled clinical trials in interventional oncology procedures, on the other hand, is challenging owing to a dearth of recognized methodology
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Global Interventional Oncology Market by Cancer Type
3.1 Global Liver Cancer Market by Region
3.2 Global Lung Cancer Market by Region
3.3 Global Kidney Cancer Market by Region
3.4 Global Breast Cancer Market by Region
3.5 Global Prostate Cancer Market by Region
3.6 Global Bone Metastasis Market by Region
3.7 Global Others Market by Region
Chapter 4. Global Interventional Oncology Market by Product Type
4.1 Global Embolization Devices Market by Region
4.2 Global Ablation Devices Market by Region
4.3 Global Support Devices Market by Region
Chapter 5. Global Interventional Oncology Market by End User
5.1 Global Hospitals Market by Region
5.2 Global Ambulatory Surgery Centers Market by Region
5.3 Global Research & Academic Institutes Market by Region
Chapter 6. Global Interventional Oncology Market by Region
Chapter 7. Company Profiles
7.1 Boston Scientific Corporation
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.1.4 Research & Development Expense
7.1.5 SWOT Analysis
7.2 Teleflex, Inc.
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.4 Research & Development Expense
7.3 Cook Medical, Inc. (Cook Group)
7.3.1 Company Overview
7.4 Medtronic PLC
7.4.1 Company overview
7.4.2 Financial Analysis
7.4.3 Segmental and Regional Analysis
7.4.4 Research & Development Expenses
7.4.5 Recent Strategies and Developments
7.4.5.1 Product Launches and Product Expansions
7.4.6 SWOT Analysis
7.5 Terumo Corporation
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Segmental and Regional Analysis
7.5.4 Regional Analysis
7.5.5 Recent Strategies and Developments
7.5.5.1 Partnerships, Collaborations and Agreements
7.5.5.2 Acquisitions and Mergers
7.6 Johnson & Johnson (Johnson & Johnson Services, Inc.)
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segmental &Regional Analysis
7.6.4 Research & Development Expenses
7.6.5 SWOT Analysis
7.7 Becton, Dickinson and Company
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Segmental and Regional Analysis
7.7.4 Research & Development Expense
7.7.5 SWOT Analysis
7.8 AngioDynamics, Inc.
7.8.1 Company Overview
7.8.2 Financial Analysis
7.8.3 Regional Analysis
7.8.4 Research & Development Expenses
7.9 Merit Medical Systems, Inc.
7.9.1 Company Overview
7.9.2 Financial Analysis
7.9.3 Segmental and Regional Analysis
7.9.4 Research & Development Expenses
7.10. HealthTronics, Inc. (Altaris Capital Partners, LLC)
7.10.1 Company Overview
For more information about this report visit https://www.researchandmarkets.com/r/3jvnmi
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