Different cancer treatments such as radiation, surgery, and chemotherapy have numerous side effects. On the flip side, interventional oncology is a minimally invasive treatment with comparatively fewer side effects. This factor has increased its prominence among patients with liver, colorectal, lung, bone/soft tissue, kidney, and metastatic cancers. In addition to this, it is also considered a highly precise treatment for symptomatic relief, tumour control, and effective remission. This, coupled with shorter hospital stays, lesser pain, smaller and more cosmetic incisions, minimal risk of infection, and a speedy recovery, are amplifying the global demand for interventional oncology treatment. Moreover, a significant surge in the incidence of cancer among individuals is boosting the need for development of interventional oncology products and treatments. Anticipating these possibilities, the global interventional oncology market is set to experience sound expansion over the forecast period.
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Growing Preference for Minimally Invasive Procedures to Unfurl Favourable Growth Prospects for Interventional Oncology Market
The minimally invasive procedure characteristic of interventional oncology has contributed immensely to the interventional oncology market growth. Minimally invasive procedures efficiently remove cancerous lymph nodes and tumours without leaving any scars. It also enables the hassle-free collection of tissues for biopsies and precise staging tests. Hence, this facilitates surgeons with detailed insights to develop a clear and appropriate cancer treatment strategy. Key industry players are capitalising on these opportunities to by ramping up their research development endeavours to come up cutting-edge products. These actions aim to enhance the capability of interventional oncology systems and expand its applications domains. Consequently, such a scenario is poised to unravel new growth opportunities in the market.
Burgeoning Liver Cancer Cases to Stimulate Interventional Oncology Market Growth
Post-surgeries in liver cancer treatment, the surrounding tissue is often left unhealthy that results in improper functioning of liver. To this end, being minimally invasive, the interventional oncology has demonstrated significant efficiency in treatment of liver cancer. This type of oncology has been found to be highly effective and precise in treating primary liver tumours, and ones that are caused by metastatic cancers. Such a scenario has also accelerated the RD efforts to develop advanced interventional oncology-based cancer therapies. According to WHO, liver cancer accounts for the most cancer cases in the world. Consequently, with the rising prevalence of liver cancer, the interventional oncology market is expected to reach sound maturity.
Asia Pacific Key Region in Interventional Oncology Market Owing to Rapid Development in Healthcare Industry
Asia Pacific is predicted to maintain its lead in the global interventional oncology market. Various key factors such as rising healthcare expenditure and commercialisation of cutting-edge interventional procedures and products are providing impetus to the regional market growth. Additionally, top interventional oncology device firms are heavily investing in research processes across economies such as China, Japan, and India. That said, the favourable government programs coupled with rising per capita income, are also contributing to the Asia Pacific’s dominance in market.
Leading Market Players
Some of the global players in the interventional oncology market include Accuray (US), Merit Medical (US), Instylla (US), Boston Scientific (US), Medtronic (Ireland), Trisalus Lifesciences (US), Terumo (Japan), AngioDynamics (US), BD (US), Trod Medical (US), JJ (US), Cook Medical (US), Teleflex (US), MedWaves (US), HealthTronics (US), Sanarus (US), ABK Biomedical (Canada), Profound Medical Corp (Canada), IMBiotechnologies (Canada), Interface Biomaterials BV (Netherlands), IceCure Medical (Israel), Mermaid Medicals (Denmark), Shape Memory Medical (US), Guerbet (France), Baylis Medical (Canada), Sirtex (US), Monteris Medical (US), Endo Shape (US), and ALPINION MEDICAL SYSTEMS (South Korea).
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