Latest News- Interventional Oncology Market: Hospitals and diagnostic centers is expected to lead the End-user segment during 2024-2028

The Interventional Oncology Market is being driven by Increase prevalence of cancer

The Interventional Oncology Market is expected to grow at a CAGR of 7.7% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1.04 billion. The Interventional Oncology Market is witnessing significant growth due to the increasing adoption of Microwave Ablation (MWA) technology. This advanced procedure offers numerous benefits over conventional methods, including a flexible approach to treating various cancers, such as Hepatocellular Carcinoma (HCC). Key drivers fueling the adoption rates include the procedure's minimal duration of 5-10 minutes, enhanced efficacy with fewer complications, and decreased hospital stays. Notably, the demand for MWA devices is expected to be particularly high for the treatment of liver and lung cancers, given the pressing need for effective treatment options. Companies, such as MedWaves Inc., are dedicated to innovating and developing cutting-edge MWA devices to meet the escalating market demand. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Hospitals and diagnostic centers
  • Ambulatory surgery centers
  • Research and academic institutes
• Product
  • Particle embolization
  • Ablation
  • Support devices
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
  • Asia
    • China
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increase prevalence of cancer
• Growing demand for minimally-invasive surgical procedures
• Growing focus on R and D activities in interventional oncology

However, the market also witnesses some limitations, which are as follows:

• High cost of interventional oncology procedures
• Presence of alternatives to interventional oncology solutions
• Risks associated with interventional oncology procedures

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Market Scope in Interventional Oncology Market Research Report

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Research Analysis Overview

In the realm of healthcare, Interventional Oncology offers innovative therapeutic options for patients battling cancerous tumors. Hospitals and specialty clinics employ various diagnostic treatments and procedural interventions, such as Ablation Procedures using C2 Therapeutics, Cardiofocus, and Cook Medical's Embolization and Ablation Devices. Support Devices aid in minimally invasive procedures. Hepatocellular Carcinoma, Renal Cancer, Lung Cancer, and Osteosarcoma patients benefit from these advanced Therapeutic Procedures, reducing Carbon Emissions compared to traditional Radiotherapy Procedures.

Market Research Overview

The Interventional Oncology market is a significant segment of the global Life Sciences Tools and Services market, which encompasses companies and products involved in the research and development (R&D) of various tools and services for therapeutic and diagnostic cancer treatments. This market includes capital equipment, instruments, accessories, and consumables used in R&D for pharmaceuticals and biotechnology products, as well as laboratory diagnosis of cancer and other diseases. The global Life Sciences Tools and Services market, valued at USD132.53 billion in 2023, is projected to grow moderately, with services such as contract research, manufacturing, and sales also contributing to its expansion.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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