Interventional Oncology Market worth $4.24 billion by 2029
Interventional Oncology Market by Devices & Consumables (RF, microwave, cryoablation. embolization), Procedures (Thermal Ablation, Non-Thermal Ablation, TACE, TARE, TAE), Cancer (Liver, Lung), End User (Hospital, Specialty Clinic) - Global Forecast to 2029", is projected to reach USD 4.24 billion by 2029 from USD 2.75 billion in 2024, at a CAGR of 9.0% between 2024 and 2029.
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 cancers—the most targeted areas in interventional oncology—have 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)