On the back of growing adoption of minimally invasive procedures, the market for interventional oncology is poised for a prosperous future, according to a recent business intelligence study by TMR Research.
On the back of growing adoption of minimally invasive (MI) procedures, the market for interventional oncology is poised for a prosperous future, according to a recent business intelligence study by TMR Research. The report, titled “Interventional Oncology Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025,” has detected that interventional oncology involves MI procedures in order to treat inoperable patients. The report, compiled by a group of professional market research analysts, aspires to serve as a decision-making document for the stockholders of this market such as healthcare providers, hospitals, diagnostic centers, research and consulting firms, venture capitalists, and regulatory bodies. The report is a summation of in-depth analysis all factors that may define the demand in the market for interventional oncology during the forecast period of 2017 to 2025, divides it into smaller segments of various aspects, and explores the competitive landscape in order to represent the possibilities of entrance of new players.
Some of the key factors expected to drive the demand in the global interventional oncology market are: growing cancer population, increased research and development activities, advancements in the technology, and growing demand for minimally invasive procedures. The ability of MI procedures to act against cancerous cells in a much more proficient way than conventional surgeries, systematic chemotherapy, and radiation therapy is providing a major boost to the market. On the other hand, risks associated with the interventional oncology procedures, limited skilled practitioners, presence of alternatives, and high cost of the procedures are obstructing the market from attaining its true potential. That being said, the vendors operating in this market are expected to gain new opportunities from growing integration of image-guided solutions with interventional oncology procedures, growing focus on the adoption of MWA, increasing inorganic growth strategies by vendors, growing adoption of HIFU and SIRT, and intense competitive between the players.
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Based on procedure, the global interventional oncology market can be segmented into ablation, radiation therapy, and embolization. Currently, the latter provides for the majority of the demand in this market and is expected to remain dominant throughout the forecast period. Increasing need for MI procedures for the treatment of cancer and growing adoptability among hospital organizations are a few factors driving the demand for the segment of embolization.
Geographically, North America is the region that is providing for the major chunk of demand in the global interventional oncology market and is expected to remain so throughout the forecast period of this report. This prosperity of the North America interventional oncology market is a result of growing adoption of MI procedures, prevalence of cancer, advancements in technology by the vendors operating in this market including robotic navigation systems, and the improved reimbursement by Medicare. The government in the developed countries of the U.S. and Canada are also favoring the research and development activities and driving this regional market.
Medtronic, Boston Scientific, BTG, TERUMO, and Merit Medical are a few key companies currently ahead of the curve in the global interventional oncology market. In addition to that, Smith & Nephew, ALPINION MEDICAL SYSTEMS, Cook Medical, Accuray, AngioDynamics, C2 Therapeutics, BOVIE MEDICAL, Brainlab, BSD Medical, Mermaid Medical, AtriCure, Baylis Medical, C. R. Bard, CardioFocus, Eckert and Ziegler BEBIG, Profound Medical, Elekta, EDAP TMS, Galil Medical, HealthTronics, MedWaves, INSIGHTEC, Microsulis Medical, NeuWave Medical, Monteris Medical, Perseon, Sirtex, Varian Medical, and SonaCare Medical are some of the other notable players. For each of these players that have been profiled in the report, analysts have showcased their business overview.
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