Interventional Oncology Market Growth Will Be Driven by an Increasing Prevalence of Cancer | Technavio

The global interventional oncology market size is poised to grow by USD 781.89 million during 2020-2024, progressing at a CAGR of almost 7% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

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Technavio has announced its latest market research report titled Global Interventional Oncology Market 2020-2024 (Graphic: Business Wire)

The increasing cancer population is expected to drive the market growth. Cancer is one of the leading causes of death worldwide. Lung, liver, stomach, colorectal, breast, and esophageal cancers are prevalent among the population worldwide. Changes in lifestyle, unhealthy diet, smoking, fewer pregnancies, and longtime UV exposure are expected to increase the prevalence of cancers, such as breast cancer, lung cancer, and colorectal cancer, associated with these factors. The majority of cancers at chronic stages cannot be treated with conventional drugs. This is expected to increase the demand for interventional oncology procedures, such as tissue ablation and embolization, thereby driving the market growth.

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Report Highlights:

• The major interventional oncology market growth came from the ablation segment in 2019, and the segment is expected to witness significant growth during the forecast period.
• North America was the largest interventional oncology market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period.
• The global interventional oncology market is fragmented. AngioDynamics Inc., Boston Scientific Corp., Cook Medical LLC, HealthTronics Inc., Johnson & Johnson, Medtronic Plc, Merit Medical Systems Inc., Profound Medical Corp., Terumo Corp., and Varian Medical Systems Inc. are some of the major market participants. To help clients improve their market position, this interventional oncology market forecast report provides a detailed analysis of the market leaders.
• As the business impact of COVID-19 spreads, the global interventional oncology market 2020-2024 is expected to have neutral growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.

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Growing Demand for Minimally-Invasive Surgical Procedures will be a Key Market Trend

Globally, surgeons and patients are increasingly opting for minimally-invasive surgeries. Minimally-invasive techniques are used to treat patients with other associated comorbidities and in inoperable patients. Also, these minimally-invasive and non-invasive techniques are increasingly used to manage diseases, such as cancerous tumors, and most commonly in treating solid selected tumors, which include tumors in the kidneys, lungs, and the liver. Interventional oncology procedure uses HIFU beam light, microsphere, delivery of electricity, and microspheres filled with radioisotopes to destroy or kill the affected tumors cells. Minimally-invasive surgeries reduce the risk of infection, cause minimal complications, lead to a shorter hospital stay, cause less pain, and have a faster recovery time compared to traditional open surgeries.

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Interventional Oncology Market 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist interventional oncology market growth during the next five years
• Estimation of the interventional oncology market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the interventional oncology market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of interventional oncology market vendors

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Executive Summary

Market Landscape

• Market ecosystem
• Market characteristics
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019-2024

Five Forces Analysis

• Five force summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Procedure

• Market segments
• Comparison by Procedure
• Ablation - Market size and forecast 2019-2024
• Embolization - Market size and forecast 2019-2024
• Market opportunity by Procedure

Customer landscape

• Customer landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• North America - Market size and forecast 2019-2024
• Europe - Market size and forecast 2019-2024
• Asia - Market size and forecast 2019-2024
• ROW - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Vendor landscape
• Landscape disruption
• Competitive scenario

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• AngioDynamics Inc.
• Boston Scientific Corp.
• Cook Medical LLC
• HealthTronics Inc.
• Johnson & Johnson
• Medtronic Plc
• Merit Medical Systems Inc.
• Profound Medical Corp.
• Terumo Corp.
• Varian Medical Systems Inc.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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