The Asia Pacific regional market is expected to grow at the highest CAGR during the forecast period. Emerging economies in the region such as India, China, and South Korea, along with developed markets such as Japan and Australia, are offering high-growth opportunities for market players in the field of interventional oncology. This can be attributed to factors such as the increasing adoption of interventional oncology procedures, growing incidence of cancer, and the growing geriatric population.

interventional-oncology-market1

Key Market Players and Strategies Adopted by Them Globally:

The major players operating in the interventional oncology market include BTG plc (UK), Medtronic (Ireland), Boston Scientific (US), Terumo (Japan), Merit Medical (US), Sirtex (China), AngioDynamics (US), Ethicon (US), Teleflex (US), Cook Medical (US), HealthTronics (US), MedWaves Medical (US), Sanarus (US), IMBiotechnologies (Canada), Trod Medical (US), IceCure Medical (Israel), Mermaid Medicals (Denmark), Interface Biomaterials BV (Netherlands), Guerbet (France), ABK Biomedical (Canada), Shape Memory Medical (US), Endo Shape (US), Monteris Medical (US), Instylla (US), and Trisalus Lifesciences (US), among others.

An analysis of the market developments between 2015 and 2019 revealed that several growth strategies such as product launches and enhancements, partnerships, agreements, and strategic acquisitions were adopted by market players to strengthen their product portfolios and maintain a competitive position in the interventional oncology market. Among these business strategies, partnerships and agreements were the most widely adopted growth strategies by market players.

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Medtronic (Ireland) dominated the global interventional oncology market. The company focuses on adopting various organic growth strategies like product launches & approvals and inorganic growth strategies, such as acquisitions and collaborations, to expand its presence and share in the interventional oncology market.

Recent Developments In Global Interventional Oncology Market:

  • In 2017, Terumo Corporation (Japan) launched the QuiremSpheres Microspheres in Europe.
  • In 2017, Medtronic PLC (Ireland) launched its OptiSphere embolization spheres designed for hypervascular tumor embolization in the US.
  • In 2016, Ethicon (Johnson and Johnson, US) acquired NeuWave Medical, Inc. (US), and consequently the NeuWave microwave ablation portfolio with the aim to expand its product portfolio in the interventional oncology market.

The global interventional oncology market is projected to reach USD 2.9 billion by 2024 from USD 2.0 billion in 2019, at a CAGR of 6.8% from 2019 to 2024. The growth of this market is primarily driven by the rising preference for minimally invasive procedures, expansion of the target patient population, increasing public-private funding and government support for cancer research, technological advancements in the field of interventional oncology, and increasing government investments and funding for interventional oncology and related cancer research.

Know the Top Trends in Interventional Oncology Market that will have a significant impact on companies operating in the Global Industry.

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