The global interventional oncology market size was estimated at USD 4.09 billion in 2023 and is projected to grow at a CAGR of 10.27% from 2024 to 2030. This growth can be attributed to the increasing prevalence of cancer, increasing technological advancements in minimally invasive procedures, growing geriatric population, rising focus on early cancer detection, and increasing public and private investments in the field of interventional oncology. There is a significant rise in the number of cancer cases globally, increasing the need for advanced solutions facilitating better cancer care According to the World Health Organization data published in February 2022, cancer accounted for around 10 million deaths in 2020, causing 1 in every 6 deaths globally.
The rising global incidence of cancer is largely attributed to increasing tobacco use, unhealthy diets, alcohol consumption, air pollution, and physical inactivity. This surge in cancer cases poses a significant challenge for healthcare systems, spurring the development of advanced solutions that offer better results and outcomes. Interventional oncology, which provides a minimally invasive alternative to traditional cancer treatments such as surgery, radiation, and chemotherapy, has become increasingly popular. Its advantages in terms of reduced patient trauma and quicker recovery times are key factors driving market growth.
These staggering statistics highlight the urgent need for effective cancer treatments. Interventional oncology, with its array of minimally invasive techniques such as radiofrequency ablation (RFA), transarterial chemoembolization (TACE), and cryoablation, offers significant advantages over traditional surgery, including reduced recovery times and lower complication rates. As the global cancer burden continues to rise, the adoption of these advanced interventional techniques is expected to accelerate, driven by their ability to improve patient outcomes and quality of life.
Companies in the interventional oncology market are actively pursuing various strategies to develop advanced solutions aimed at improving patient treatment and care. For example, in April 2021, Terumo launched its global therapeutic interventional oncology team to achieve excellence in interventional oncology solutions, with the goal of enhancing patient quality of life and survival rates. Such initiatives are expected to spur the development of innovative solutions, increasing the adoption of interventional oncology and driving market growth.
Moreover, increased efforts to develop advanced solutions have led to significant investments from both government and private organizations. In June 2023, Royal Philips announced that the Philips-coordinated IMAGIO consortium of clinical partners received a grant of approximately $25.97 million. This funding is intended to support research on minimally invasive cancer treatments, with a focus on liver cancer, lung cancer, and soft tissue sarcomas. Such investments are crucial for advancing interventional oncology technologies and improving patient outcomes.
The embolization therapies segment is anticipated to witness a significant CAGR over the forecast period. Embolization therapies, which involve the selective occlusion of blood vessels to cut off the blood supply to tumors, are increasingly recognized for their efficacy in treating various types of cancer, particularly liver cancer. These minimally invasive procedures offer significant advantages over traditional surgical approaches, including reduced recovery times, decreased complications, and the ability to target tumors that are otherwise inoperable. The growing preference for minimally invasive procedures among patients and healthcare providers is also contributing to the market's expansion. Embolization therapies are typically performed on an outpatient basis, resulting in shorter hospital stays, lower healthcare costs, and quicker recovery times compared to traditional surgery. This preference aligns with the broader trend towards cost-effective and patient-centric healthcare solutions, making embolization an attractive option for cancer treatment.
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The rising global incidence of cancer is largely attributed to increasing tobacco use, unhealthy diets, alcohol consumption, air pollution, and physical inactivity. This surge in cancer cases poses a significant challenge for healthcare systems, spurring the development of advanced solutions that offer better results and outcomes. Interventional oncology, which provides a minimally invasive alternative to traditional cancer treatments such as surgery, radiation, and chemotherapy, has become increasingly popular. Its advantages in terms of reduced patient trauma and quicker recovery times are key factors driving market growth.
These staggering statistics highlight the urgent need for effective cancer treatments. Interventional oncology, with its array of minimally invasive techniques such as radiofrequency ablation (RFA), transarterial chemoembolization (TACE), and cryoablation, offers significant advantages over traditional surgery, including reduced recovery times and lower complication rates. As the global cancer burden continues to rise, the adoption of these advanced interventional techniques is expected to accelerate, driven by their ability to improve patient outcomes and quality of life.
Companies in the interventional oncology market are actively pursuing various strategies to develop advanced solutions aimed at improving patient treatment and care. For example, in April 2021, Terumo launched its global therapeutic interventional oncology team to achieve excellence in interventional oncology solutions, with the goal of enhancing patient quality of life and survival rates. Such initiatives are expected to spur the development of innovative solutions, increasing the adoption of interventional oncology and driving market growth.
Moreover, increased efforts to develop advanced solutions have led to significant investments from both government and private organizations. In June 2023, Royal Philips announced that the Philips-coordinated IMAGIO consortium of clinical partners received a grant of approximately $25.97 million. This funding is intended to support research on minimally invasive cancer treatments, with a focus on liver cancer, lung cancer, and soft tissue sarcomas. Such investments are crucial for advancing interventional oncology technologies and improving patient outcomes.
Technique Insights
The ablation therapies segment held the largest market share in 2023. Ablation therapies, including radiofrequency, microwave, cryoablation, and laser ablation, are gaining popularity due to their minimally invasive nature and their effectiveness in targeting tumours with minimal damage to surrounding tissues. These therapies offer a promising alternative to traditional cancer treatments such as surgery and radiation, providing patients with shorter recovery times, reduced pain, and fewer complications. With an increasing number of cancer cases each year, there is a growing demand for effective and less invasive treatment options. According to the World Health Organization, cancer is one of the leading causes of death worldwide, and the number of new cases is expected to rise significantly in the coming decades. This escalating burden of cancer is propelling the adoption of innovative treatment modalities like ablation therapies.The embolization therapies segment is anticipated to witness a significant CAGR over the forecast period. Embolization therapies, which involve the selective occlusion of blood vessels to cut off the blood supply to tumors, are increasingly recognized for their efficacy in treating various types of cancer, particularly liver cancer. These minimally invasive procedures offer significant advantages over traditional surgical approaches, including reduced recovery times, decreased complications, and the ability to target tumors that are otherwise inoperable. The growing preference for minimally invasive procedures among patients and healthcare providers is also contributing to the market's expansion. Embolization therapies are typically performed on an outpatient basis, resulting in shorter hospital stays, lower healthcare costs, and quicker recovery times compared to traditional surgery. This preference aligns with the broader trend towards cost-effective and patient-centric healthcare solutions, making embolization an attractive option for cancer treatment.
Global Interventional Oncology Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, the publisher has segmented the global interventional oncology market report based on technique, procedure, application, end use, and region.- Technique Outlook (Revenue, USD Million, 2018 - 2030)
- Ablation Therapies
- Radiofrequency Ablation (RFA)
- Microwave Ablation (MWA)
- Cryoablation
- Laser Ablation
- Irreversible Electroporation (IRE)
- Embolization Therapies
- Transarterial Chemoembolization (TACE)
- Transarterial Radioembolization (TARE)
- Biopsy Techniques
- Core Needle Biopsy
- Fine Needle Aspiration (FNA)
- Targeted Therapy Delivery Systems
- Drug-Eluting Beads
- Radioembolization
- Drug-Eluting Stents
- Injectable Hydrogels and Nanoparticles
- Other Targeted Therapy Systems
- Image-Guided Procedures
- Ultrasound Guidance
- CT Scan Guidance
- MRI Guidance
- Fluoroscopy Guidance
- Procedure Outlook (Revenue, USD Million, 2018 - 2030)
- Tumor Ablation
- Tumor Biopsy
- Vascular Interventions
- Palliative Care
- Application Outlook (Revenue, USD Million, 2018 - 2030)
- Liver Cancer
- Lung Cancer
- Kidney Cancer
- Prostate Cancer
- Breast Cancer
- Other Cancer
- End Use Outlook (Revenue, USD Million, 2018 - 2030)
- Hospitals
- Specialty Clinics
- Others
- Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Denmark
- Sweden
- Norway
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Thailand
- Latin America
- Brazil
- Argentina
- MEA
- South Africa
- Saudi Arabia
- UAE
- Kuwait
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Interventional Oncology Market Variables, Trends & Scope
Chapter 4. Interventional Oncology Market: Technique Estimates & Trend Analysis
Chapter 5. Interventional Oncology Market: Procedure Estimates & Trend Analysis
Chapter 6. Interventional Oncology Materials Market: Application Estimates & Trend Analysis
Chapter 7. Interventional Oncology Market: End Use Estimates & Trend Analysis
Chapter 8. Interventional Oncology Market: Regional Estimates & Trend Analysis
Chapter 9. Competitive Landscape
List of Tables
List of Figures
Companies Mentioned
- Medtronic plc
- Boston Scientific Corporation
- Johnson & Johnson (Ethicon)
- Baxter International Inc.
- Cook Medical
- C.R. Bard Inc. (Acquired by BD)
- AngioDynamics Inc.
- Stryker Corporation
- B. Braun Melsungen AG
- Terumo Corporation
- Siemens Healthineers
- GE Healthcare
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 210 |
| Published | July 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 4.09 Billion |
| Forecasted Market Value ( USD | $ 8.06 Billion |
| Compound Annual Growth Rate | 10.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
