Interventional Oncology (IO) is a branch of interventional radiology dedicated to diagnosing, treating, and alleviating cancer and cancer-related problems using minimally invasive procedures performed under image guidance. It’s the newest and fastest growing segment. IO treatment is performed by an interventional radiologist. IO has effectively established itself as an important therapeutic specialty in multidisciplinary oncology care, alongside medical, surgical, and radiation oncology. IO is now considered the fourth pillar of modern cancer therapy. Surgical resection of the tumor is generally considered the best long-term solution,
Allied Market Research has just completed and published a study report with the title Interventional Oncology Market Size was Valued at USD 1.98 billion in 2021, and is Projected to Garner USD 4.12 billion by 2031, registering a CAGR of 7.6% from 2022 to 2031.
The increase in the prevalence of chronic diseases, growing demand for minimally invasive therapeutics, a surge in awareness regarding cancer and acceptance of interventional oncology procedures for detecting and treating cancer and rise in investments in research and development by biopharmaceutical industry players drive the growth of the global interventional oncology market. Based on product, the particle embolization segment contributed to the highest share in 2021 and would dominate through the forecast period.
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Covid-19 scenario-
The Covid-19 outbreak impacted the global interventional oncology market negatively. Lockdowns imposed by the government led manufacturers of interventional oncology devices to face many challenges such as disruption of supply chain for the raw materials and the closure of various production facilities.
In addition, the pandemic led to unavailability of skilled lab professionals to run diagnostic tests, inadequate distribution of funds for research in academic and research institutes, limited operations in most industries due to temporary lockdown of manufactures and academic institutes, are leading to a scarcity in the supply of the interventional oncology products to end users.
Many number of medical colleges and hospitals around the world were restructured to increase accommodation of more patients diagnosed with COVID-19. This is another reason for which the market suffered losses.
However, innovative initiatives by key players to develop a new category of interventional oncology robotics to perform surgery of tumors boost the market growth post-pandemic.
๐๐ก๐ ๐ค๐๐ฒ ๐ฆ๐๐ซ๐ค๐๐ญ ๐ฉ๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐๐ง๐๐ฅ๐ฒ๐ณ๐๐ ๐ข๐ง ๐ญ๐ก๐ ๐ ๐ฅ๐จ๐๐๐ฅ ๐ข๐ง๐ญ๐๐ซ๐ฏ๐๐ง๐ญ๐ข๐จ๐ง๐๐ฅ ๐จ๐ง๐๐จ๐ฅ๐จ๐ ๐ฒ ๐ฆ๐๐ซ๐ค๐๐ญ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ข๐ง๐๐ฅ๐ฎ๐๐ ๐๐ฅ๐ฉ๐ข๐ง๐ข๐จ๐ง ๐๐๐๐ข๐๐๐ฅ ๐๐ฒ๐ฌ๐ญ๐๐ฆ๐ฌ ๐๐จ. ๐๐ญ๐., ๐๐ง๐ ๐ข๐จ๐๐ฒ๐ง๐๐ฆ๐ข๐๐ฌ, ๐๐จ๐ฌ๐ญ๐จ๐ง ๐๐๐ข๐๐ง๐ญ๐ข๐๐ข๐ ๐๐จ๐ซ๐ฉ๐จ๐ซ๐๐ญ๐ข๐จ๐ง, ๐๐จ๐ฅ๐จ๐ ๐ข๐, ๐๐ง๐., ๐๐๐๐ญ๐ซ๐จ๐ง๐ข๐ ๐๐ฅ๐., ๐๐ก๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐๐ง๐๐ฅ๐ฒ๐ณ๐๐ฌ ๐ญ๐ก๐๐ฌ๐ ๐ค๐๐ฒ ๐ฉ๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐จ๐ ๐ญ๐ก๐ ๐ ๐ฅ๐จ๐๐๐ฅ ๐ข๐ง๐ญ๐๐ซ๐ฏ๐๐ง๐ญ๐ข๐จ๐ง๐๐ฅ ๐จ๐ง๐๐จ๐ฅ๐จ๐ ๐ฒ ๐ฆ๐๐ซ๐ค๐๐ญ.
๐๐ง๐ญ๐๐ซ๐ฏ๐๐ง๐ญ๐ข๐จ๐ง๐๐ฅ ๐๐ง๐๐จ๐ฅ๐จ๐ ๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐ข๐ณ๐ ๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง: –
The report offers detailed segmentation of the global interventional oncology market based on product and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on product, the particle embolization segment accounted for nearly two-fifths of the total market share in 2021, and is projected to rule the roost by the end of 2031. The support devices segment, however, would cite the fastest CAGR of 8.8% throughout the forecast period. The other product discussed in the report is ablation.
Based on region, the market across North America contributed to nearly half of the total market revenue in 2021, and is expected to lead the trail by 2031. The Asia-Pacific market, on the other hand, would grow at the fastest CAGR of 9.8% from 2022 to 2031. The other two provinces discussed in the report include Europe and LAMEA.
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Our Market Research Solution Provides You Answer to Below Mentioned Question:
- Which are the driving factors responsible for the growth of market?
- Which are the roadblock factors of this market?
- What are the new opportunities, by which market will grow in coming years?
- What are the trends of this market?
- Which are main factors responsible for new product launch?
- How big is the global & regional market in terms of revenue, sales and production?
- How far will the market grow in forecast period in terms of revenue, sales and production?
- Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
- How will each segment grow over the forecast period and how much revenue will these segments account for in 2030?
- Which region has more opportunities?
By Region Outlook
- North America
(U.S., Canada, Mexico)
- Europe
(Germany, France, UK, Italy, Spain, Rest of Europe)
- Asia-Pacific
(Japan, China, India, Rest of Asia-Pacific)
- LAMEA
(Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
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