Originally published on Technavio:Interventional Oncology (IO) Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Canada, UK, Germany, China - Size and Forecast 2024-2028
Interventional Oncology Market Forecast 2022-2026
The interventional oncology market share is expected to increase by USD 1.03 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 7.49%.

The market report also offers information on several market players, including AngioDynamics Inc., Boston Scientific Corp., Cook Medical LLC, EDAP TMS SA, Elekta AB, HealthTronics Inc., IceCure Medical, ILJIN Group, INSIGHTEC Ltd., Johnson and Johnson, Medtronic Plc, MedWaves Inc., Merit Medical Systems Inc., Mermaid Medical Group, Profound Medical Corp., Siemens AG, Sirtex Medical Pty Ltd., Sonablate Corp., Teleflex Inc., and Terumo Corp. among others.

Market: Key Drivers, Trends, and Challenges

The growth in R&D activities is notably driving the market growth, although factors such as risks associated with interventional oncology procedures may impede the market growth.  The holistic analysis of the drivers will help deduce end goals and refine marketing strategies to gain a competitive edge.

Key Market Driver

Growth in R&D activities is one of the major drivers impacting the market growth. The growing R&D and clinical trials by vendors and research organizations are expected to improve the adoption rates as well as expand the scope of interventional oncology into newer applications. Many clinical studies have been performed to determine the efficacy of interventional oncology devices. Also, research institutes are conducting new studies to support the effectiveness of interventional oncology in new indications, such as breast cancer, lung, melanoma, and neuroendocrine tumors.

Major Market Trend

Growing focus on the adoption of MWA is one of the major trends influencing the market growth. There has been a growing focus on the adoption of MWA, owing to its increased advantages over conventional procedures. The MWA allows a flexible approach to treating various cancers, such as HCC. Minimum procedure time (5-10 minutes), enhanced efficacy with reduced complications, and reduced hospital stay are the major factors that are fueling the adoption rates.

Significant Market Challenge

Risks associated with interventional oncology procedures are one of the major challenges impeding the market growth. Although the popularity of interventional oncology procedures is growing steadily, many patients, especially in developing countries, are reluctant to adopt these treatments because of the fear of complications related to these procedures. Risks involved in interventional oncology procedures include infection, thermal damage, and bleeding; in some cases, it can even be fatal. The use of energy-based procedures involves risks and complications not only for patients but also for physicians and operators. These devices emit hazardous radiation that can have serious effects and sometimes be the cause of death. High-power energy HIFU and radioisotopes used in SIRT procedures can damage the sensitive part of the eye and the skin.

 market companies, including:

This statistical study of the market encompasses successful business strategies deployed by the key companies. The market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market.

The market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the leading companies' production, sustainability, and prospects.

Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

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Interventional Oncology Market Share

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The market share growth in the ablation segment will be significant during the forecast period. The market for ablation procedures is expected to grow in response to the increasing incidence of cancer cases.

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