Interventional Oncology: Introduction

  • Interventional oncology is a branch of medical science that deals with minimally invasive medical procedures carried out under image guidance by interventional radiologists for the diagnosis, treatment, and palliation of different types of cancer
  • In interventional oncology procedures, different image guided techniques such as computed tomography, fluoroscopy, and ultrasound are used to diagnose and treat the specific site affected with pain or cancer
  • The interventional oncology procedure is most commonly performed with other cancer treatments such as surgery, chemotherapy, and radiation therapy. These procedures offer several advantages such as quicker recover, shorter hospital stays, minimal side-effects, and more precise and accurate treatment as compared to other therapeutic procedures.

Key Drivers of Global Interventional Oncology Market

  • The global interventional oncology market is primarily driven by high prevalence and increase in incidence rates of cancer worldwide. Cancer is a leading cause of death globally, after cardiovascular diseases.
  • According to the World Health Organization (WHO), cancer accounts for 8.3 million deaths each year, with 70% new cancer cases expected to be reported over the next 20 years. Rise in cancer afflicted population is anticipated to be a key driver of the market.
  • According to a Centers for Disease Control and Prevention (CDC) report, in 2014, the number of cancer patients diagnosed in the U.S. reached approximately 21 million. This number is expected to reach 25.4 million by the end of 2024. Moreover, advantages of minimally invasive surgical procedures, technological advancements in interventional oncology, increased government funding for oncology procedures, etc., are estimated to fuel the interventional oncology market during the forecast period.

Embolization Procedure to be Highly Attractive Segment

  • In terms of procedure, the global interventional oncology market can be classified into ablation procedure, embolization procedure, and radiotherapy procedure
  • Embolization procedure is highly preferred across the globe due to benefits associated with the procedure, followed by the ablation procedure. Embolization is a process involving lodging of embolus within the bloodstream in order to block the blood supply to the tumor. The process involves chemical or irradiation technique for selective occlusion of blood vessels by introducing emboli. Radiotherapy is a treatment for cancer and other less common diseases such as thyroid, blood disorders, and even to restrict noncancerous cell growth. Radiotherapy is an extensively utilized technique in interventional oncology. Radiotherapy procedure involves radiation through light or heat energy. The embolization segment is projected to hold a significant market share and expand at a rapid CAGR during the forecast period.

Laser Therapy to be Highly Attractive Segment

  • Based on indication, the global interventional oncology market can be categorized into lung cancer, renal cancer, osteosarcoma, hepatocellular carcinoma, splenomegaly, intrahepatic cholangiocarcinoma, neuroendocrine tumor, glioblastoma multiforme, metastatic colorectal cancer, and others
  • The lung cancer segment is estimated to account for a prominent share of the market during the forecast period owing to the high prevalence of lung cancer

Hospitals to be Highly Lucrative Segment

  • Based on end-user, the global interventional oncology market can be categorized into hospitals, clinics, and ambulatory surgical centers
  • The hospitals segment is likely to account for a major share of the global Interventional Oncology market by 2031 due to an increase in consultation of patients in hospitals

North America to Offer Significant Opportunities in Interventional Oncology Market

  • In terms of region, the global Interventional Oncology market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • North America accounted for a major share of the global market in 2020. North America and Europe are projected to account for notable shares of the global interventional oncology market due to a large population base afflicted with chronic cancer such as hepatocellular carcinoma, lung cancer, renal cancer, and metastatic colorectal cancer, in these regions. Moreover, significant adoption of minimally invasive surgeries for the effective management of cancer, well-established healthcare infrastructure, and early adoption of technologically advanced interventional oncology products are key factors that are likely to fuel the interventional oncology market during the forecast period.
  • The interventional oncology market in Asia Pacific is anticipated to expand at a high CAGR during the forecast period due to high prevalence of cancer in the highly populous countries of India and China, rapidly changing healthcare systems, various government initiatives to improve overall healthcare, and increased per capita healthcare expenditure. Moreover, increase in investments by leading global interventional oncology devices companies in the region is also likely to further boost the market in Asia Pacific during the forecast period.

Key Players Operating in Global Interventional Oncology Market

The global interventional oncology market is semi-consolidated, with the presence of international and local players. Key players operating in the global interventional oncology market are:

  • Boston Scientific Corporation, Medtronic plc
  • Terumo Corporation
  • BTG plc.
  • AngioDynamics, Inc.
  • Ethicon, Inc. (Johnson & Johnson)
  • Merit Medical Systems, Inc.
  • Sirtex Medical Limited
  • Siemens Healthineers
  • Eckert & Ziegler BEBIG
  • Varian Medical Systems, Inc.
  • HealthTronics, Inc.

Global Interventional Oncology Market: Research Scope

Global Interventional Oncology Market, by Procedure

  • Ablation Procedure
  • Embolization Procedure
  • Radiotherapy Procedure

Global Interventional Oncology Market, by Indication

  • Lung Cancer
  • Renal Cancer
  • Osteosarcoma
  • Hepatocellular Carcinoma
  • Splenomegaly
  • Intrahepatic Cholangiocarcinoma
  • Neuroendocrine Tumor
  • Glioblastoma Multiforme
  • Metastatic Colorectal Cancer
  • Others

Global Interventional Oncology Market, by End-user

  • Hospitals
  • Clinics
  • Ambulatory Surgical Centers

Global Interventional Oncology Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

This upcoming business intelligence report is intended to be a one-stop market research solution to guide organizations in taking timely and effective decisions for their business growth. The ongoing study is the culmination of our deep expertise on data science methods, combined with an unparalleled understanding of the external environment and analysis of the industries. Each of the reports by TMR aims at offering a detailed scrutiny of the value chain of our current and prospective customers, takes them from identifying value propositions, and subsequently assist their business executives to implement right strategies to create customer value. We believe that creating and sustaining the customer value is the key pivot on which business executives can create profits for their organizations and increase the market shares, continuously and with sustainability.

Each of our touchpoints through which we engage with the organization/enterprise during the primary research enables us to understand the internal environment it operates in and the ways in which the external environment influences its growth.

Always Evolving with Competition

Excellence is built into the DNA of TMR, and all our teams work collaboratively and committedly toward achieving that in whatever they do. From the very first interaction our teams of research analysts have with any interested market participant to the final preparation processes in each of our reports reflects a rigorous understanding of the dynamic industry environment that businesses operate in.

We relentlessly work to be a differentiator in whatever we do in the current era of hypercompetitive global environment. The result of our unceasing focus on excellence is reflected clearly in the insights and guidance we offer to our customers in order to empower them to create brand equity. Our simple yet very powerful underpinning for navigating the competition is to always keep evolving with changing business environments. Our close-kinit team of research analysts not only believe in this simple philosophy but also implement the same.

Constantly Innovating Our Research Methodologies and Models

We do not limit with any specific market research tool or one standard approach for obtaining or analyzing data. Undoubtedly, our report making process is ever-evolving to meet the customer needs and demands supported broadly by a vast knowledge of data science methods that we combine with business acumen our teams have built upon for several years. Evidently, our primary and secondary research data about customers and consumers have shown that we can go to any lengths to obtain them. This is followed by applying next-gen automation tools integrated with human judgement to clear the clutter, ascertain the most relevant and recent qualitative and quantitative insights, and package them in digestible chunks in our reports for our customers.

We Take Pride in No-One-Size-Fits-All Approach

Over the past several years, we have been conducting market intelligence studies across all industries for all types of organizations — big and small, profit and not-for-profit, and Fortune 500 and Unicorns, as we believe that a sound decision making must be based on no-one-size-fits-all approach. Without doubt, each of the organizations regardless of the industry they are in are affected differently by changes in political, economic, socio-culture, legal, ecological, and legal environments. The research models and the value chain analysis process that our analysts employ for conducting the study uphold this approach.

We look at myriad components of internal and external business environment affecting the growth strategies of organizations. Some of the broader aspects that we focus on are:

  • Our team of Analysts and Support Teams always strive to see the bigger picture in life cycle stages of any industry
  • The Teams focus on obtaining valuable insights into different models of competitive advantage while making an internal environment analysis
  • They keep on modifying the value chain analysis processes of organizations to understand on how customer value is created

Some areas of assessing market dynamics that are used in the research models and methodologies adopted by our analysts can be summarized as:

  • Corporate and business strategies underlying new brand positioning strategies
  • Mapping for strategic planning for business units
  • Various metrics for business portfolio analysis, including BCG matrix
  • Value chain analysis

These will help create and sustain competitive advantage for our prospects and current customers.

Key focus areas and agenda that underpin and catalyze our primary and secondary research initiatives and endeavors are:

  • What are some of the core competencies and distinctive competencies of new entrants and established players in the industry we are analyzing?
  • What are some of the branding opportunities that are emerging at a rapid pace?
  • What are the major competitive forces and elements of external environment shaping the industry life cycle stages of most organizations?
  • Why some competitive strategies are popular than others among leaders in a certain market?
  • What customer-based brand equity strategies companies have leveraged in a certain industry or set of related industries in a sector?
  • What are some of the key pricing strategies that companies in an industry are implementing for marketing their products internationally?
  • Identifying whether market-push or market-pull strategies are more relevant to a certain product or a service?

Disclaimer: This ongoing market research study is a meticulously planned activity where a broad array of factors and aspects that shape the marketing environment and industry are taken into account. However, keeping in mind the constantly changing nature of business dynamics and changing strategic intents, we are always actively making iterations and modifications in our approaches. As always, we are ready to tailor our insights and guidance to suit your requirements. Engage with us to know what more is there for your CXOs.

Enquiry Before Buying

TMR offers Enquiry Before Buying that help clients to get information on their business scenario required where syndicated solutions are not enough.

Enquiry Before Buying

Interventional Oncology Market