(EMAILWIRE.COM, February 01, 2025 ) The global Interventional Oncology Market, valued at US$2.53 billion in 2023, is forecasted to grow at a robust CAGR of 9.0%, reaching US$2.75 billion in 2024 and an impressive US$4.24 billion by 2029. The growth of the interventional oncology market is driven by several key factors, including the rising global burden of cancer, increasing demand for minimally invasive treatment options, and continuous technological advancements. Advances in the incidence of cancers of the liver, lungs, kidneys, and colon have been developing with many of these holding poor resectability, thereby indicating the increasing number of procedures in interventional oncology like transarterial chemoembolization (TACE), transcatheter arterial radioembolization (TARE), or percutaneous ablation. These methods provide targeted destruction of tumors with less systemic toxicity, faster recovery times, and fewer complications than do conventional surgical and chemotherapeutic modalities. In addition to this, greater preference for out-patient or day-care procedure due to higher cost-effectiveness and convenience will further add in the acceptance.
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Embolization Devices segment is expected to account for the largest share, by devices & consumables in the interventional oncology market during the forecast period.
Embolization devices hold the upper hand in interventional oncology, due to their high impact on treatments being provided within less invasive parameters about cancer; that is why this has proved far more useful for most surgeons comparing them to those surgical processes taken out over such procedures. The popularity of embolization procedures, TACE and radioembolization, or selective internal radiation therapy, is rising due to demonstrated efficacy in cancers that are considered inoperable, and more specifically in cases of liver cancer. Improvements in embolic materials, drug-eluting beads, and radioactive microspheres have made for more precise delivery of the therapy and have allowed for improved clinical outcomes, increasing their usage as well.
Liver cancer segment is expected to account for the largest share, by cancer type in the interventional oncology market during the forecast period.
Liver cancer is the largest segment of the interventional oncology market due to its increasing incidence worldwide, high mortality rate, and growing need for effective, minimally invasive interventions. The most common type of liver cancer, hepatocellular carcinoma, has a strong association with chronic hepatitis B and C infections, excessive alcohol consumption, and the increasing prevalence of non-alcoholic fatty liver disease. The specialty treatments from interventional oncology include TACE, TARE, and percutaneous ablation-all proven successful treatment for unresectable liver cancer. These give the advantages of localized control, fewer systemic side effects, and a better rate of survival when compared to standard chemotherapy.
Transcatheter arterial radioembolization (TARE) or selective internal radiation therapy (SIRT) segment is expected to account for the largest share, by procedure in the interventional oncology market during the forecast period.
TARE, or selective internal radiation therapy, is the leader in the interventional oncology market, given its established efficacy in the treatment of primary and secondary liver cancers, which account for a significant portion of cancer-related deaths worldwide. The procedure consists of the injection of microspheres loaded with radioactive isotopes, usually Yttrium-90, into the hepatic artery supplying the tumor. This targeted approach delivers localized radiation, maximizes tumor destruction, minimizes systemic exposure, and protects healthy tissues. The preference for TARE is increasing because of its better safety profile, better tolerance, and fewer side effects compared with conventional chemotherapy and external beam radiation. TARE is also particularly useful in patients with unresectable HCC and metastatic colorectal cancer to the liver, whom other therapies are less effective or unavailable.
Hospitals segment is expected to account for the largest share, by end user in the interventional oncology market during the forecast period.
Hospitals have the highest market share of interventional oncology, primarily because they possess strong infrastructural setup, superior technology, and multi-disciplinary skills required to carry out the most complex interventions. Specialized treatments such as TACE, TARE, and tumor ablation depend on state-of-the-art imaging technology, catheterization facilities, and the highly skilled expertise of interventional radiologists. Dedicated cancer hospitals and tertiary care centers possess these capabilities particularly well, thereby becoming the number one interventional oncology providers. Additionally, hospitals provide the full continuum of care from diagnosis to treatment to post-procedure management and follow-up for decades, making it the destination for an enormously diverse patient population seeking integrated solutions for cancer.
In 2023, North America accounted for the largest share of the interventional oncologymarket.
North America dominates the interventional oncology market. It has well-advanced healthcare system, high usage of advanced medical technology, and increasing cancer incidence. The largest market in North America is the United States, with a robust, specialized network of cancer centers and hospitals being abreast with current interventional radiology setup. The increasing incidence of liver, lung, and kidney cancersthe most targeted areas in interventional oncologyhave generated increased demand for the use of minimal access techniques like TACE, TARE, and thermal ablation. Further, the fact that such advanced professionals as interventional radiologists and oncologists are present within the country’s health sector accelerates market growth.
Key Market Players:
The key players in the global interventional oncology market are Siemens Healthineers AG (Varian) (US), Medtronic (Ireland), Boston Scientific Corporation (US), Terumo Corporation (Japan), Merit Medical Systems (US), Johnson & Johnson MedTech (Ethicon) (US), Stryker (US), Teleflex Incorporated (US), AngioDynamics (US), Cook (US), Icecure Medical (Israel), Olympus Corporation (Japan), Imbiotechnologies Ltd (Canada), Medwaves Inc (US), Minimax Medical Limited (China), ABK Biomedical Inc (Canada), RF Medical Co., Ltd (South Korea), Profound Medical (Canada), Surgnova (China), STARmed America (US), Sirtex SIR-Spheres Pty Ltd (US), Accuray Incorporated (US), Guerbet (France), Embolx, Inc (Canada) and Sonablate Corp (US)
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Recent Developments of Interventional Oncology Market
-In December 2024, AngioDynamics, Inc, expanding cancer treatment options and improving patient quality of life, announced receiving U.S. Food and Drug Administration (FDA) 510(k) clearance for the NanoKnife System for prostate tissue ablation.
-In December 2024, Siemens Healthineers and AP-HP signed a partnership to innovate healthcare. This agreement strengthens their collaboration in medical imaging, diagnostics, and advanced therapies to improve patient care and adapt to changes in the French healthcare system, aiming to co-develop new.
-In November 2024, Boston announced entering into a definitive agreement to acquire Intera Oncology Inc., a privately held medical device company that provides the Intera 3000 Hepatic Artery Infusion Pump and floxuridine, a chemotherapy drug, both of which are approved by the U.S. Food and Drug Administration.
-In September 2024, Varian, a Siemens Healthineers company, announced a 10-year agreement with Ballad Health, to bring advanced oncology treatment services to serve patients in rural communities across the Appalachian Highlands in Northeast Tennessee, Southwest Virginia, northwestern North Carolina, and southeastern Kentucky.
-In November 2023, ProSense received regulatory approval in India from the Central Drugs Standard Control Organisation (CDSCO) based on updated regulatory requirements.
-In May 2023, Varian, a Siemens Healthineers company, introduced the Isolis cryoprobe, a single use, disposable device designed for use with CryoCare systems to improve procedural efficiency and precision for cryoablation.