The global interventional oncology market size was US$ 1984 million in 2021. The global interventional oncology market size is estimated to reach US$ 3835.7 million by 2030, growing at a compound annual growth rate (CAGR) of 7.6% during the forecast period from 2022 to 2030.
Interventional oncology procedures involve the diagnosis and treatment of cancer with the help of minimally invasive procedures conducted under image guidance. The procedure uses equipment such as X-rays, ultrasound, computed tomography, or magnetic resonance imaging for guidance purposes. The cancer is targeted and destroyed using image guidance for its procedures, planning, and execution. Such procedures are performed in state-of-the-art oncology cath labs or under CT/USG guidance. Procedures are carried out using guide accessories and equipment, including ablation electrodes, guidewires, biopsy needles, and intravascular catheters that enable the treatment of tumors located in remote parts of the body.

Factors Affecting Marketing Growth

The increasing demand for minimally invasive therapeutics is the primary factor driving the growth of the global market.
The increasing investments by the biopharmaceutical industry players in research are driving the growth of the global market.
The high prevalence and growing incidences of cancer is the key factor driving the growth of the global market.

Impact on COVID-19 Analysis

COVID-19 had a negative impact on the growth of the global market due to the challenges faced by the manufacturers of interventional oncology devices like the disruption of the supply chain for raw materials and the closure of various production facilities due to lockdown. Moreover, a huge number of medical colleges and hospitals across the globe were restructured to increase the hospital capacity for patients diagnosed with COVID-19.

Regional Analysis

North America dominated the market in 2021, due to rising expenditure on various cancer-related treatments and an increase in the number of various state-of-the-art cancer care centers. Thus, driving the growth of the global market in the region.

Asia-Pacific is expected to witness considerable market growth during the forecast period due to its efforts taken up by the government to increase the funding for oncological treatments, commercialization of advanced interventional procedures and products along with the supportive regulations for the development of these products, rising healthcare expenditure, and expansion of the research bases in countries are driving the growth of the global market in the region.

Leading Competitors
The prominent players in the global interventional oncology market are:
Terumo Corporation
Teleflex Incorporated
Siemens Healthineers
Profound Medical
Merit Medical
Medtronic Plc.
Hologic, Inc
Boston Scientific Corporation
AngioDynamics
Alpinion Medical Systems Co. Ltd
Others
Segmentation Analysis
The global interventional oncology market segmentation focuses on Product and Region.
Segmentation on the basis of Product
Ablation
o Radiofrequency Ablation Devices
o Microwave Ablation Devices
o Cryoablation Devices
o Others
Particle Embolization
o Radioembolic agents
o Drug-Eluting Beads
o Others
Support Devices

Segmentation on the basis of Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America