The North America Interventional Oncology Market would witness market growth of 5.7% CAGR during the forecast period (2022-2028).
With advancements in technology, hybrid MRI and X-ray fluoroscopy systems (XMRI) might be employed to give precise needle placement for intervention as well as quick feedback on the tumor's reaction with sophisticated analysis. Early investigations have revealed that artificial intelligence and robotic technology have the potential to improve needle placement precision and reduce overall operation time. Improved 3D imaging & contrast agents, and also therapeutic ultrasound development, could lead to new breakthroughs in this imaging modality for IO.
Surgery, radiation, and chemotherapy are all cancer treatments with numerous adverse effects. Using interventional oncology, a catheter-based technique that provides treatment directly to the tumour, this is less of a concern. Patients with liver, colon, lung, kidney, bone/soft tissue, and metastatic tumours can benefit from interventional oncology, which is a minimally invasive treatment option. These image-guided methods could be used in place of or in tandem with other cancer treatments to give genuinely comprehensive care, instead of eliminating tumours via open surgical procedures.
In 2019, the total healthcare expenditure of the North America was 16.32 of the GDP. The market is growing due to reasons such as technological improvements and the affordability of minimally invasive techniques for the successful management of cancer in developed countries. One in every 16 people in the United States would be treated with lung cancer during their lifetime, as per the National Cancer Institute of the US Department of Health and Human Services. Lung cancer affects more than 228,000 people in the United States in 2018, with a positive diagnosis occurring every 2.3 minutes. As a result of this reason, the interventional oncology devices market in this region is growing.
Breast cancer would be detected in 26,900 Canadian women this year, with 5,000 deaths expected. Breast cancer is responsible for around 25% of new cancer diagnoses and 13% of all cancer deaths among Canadian women. Breast cancer would affect 1 in every 8 women at some point in their lives, and 1 in every 33 will die from it. Owing to this rise in number of cases, the demand for numerous treatments used for cancer would expand across the region in the coming years.
The US market dominated the North America Interventional Oncology Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $805.6 million by 2028. The Canada market is anticipated to grow at a CAGR of 4.6% during (2022 - 2028). Additionally, The Mexico market would showcase a CAGR of 7.4% during (2022 - 2028).
Based on Cancer Type, the market is segmented into Liver Cancer, Lung Cancer, Kidney Cancer, Breast Cancer, Prostate Cancer, Bone Metastasis, and Others. Based on Product Type, the market is segmented into Embolization Devices, Ablation Devices, and Support Devices. Based on End User, the market is segmented into Hospitals, Ambulatory Surgery Centers, and Research & Academic Institutes. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Interventional Oncology Market is Estimated to reach $2.9 Billion by 2028, at a CAGR of 6.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Boston Scientific Corporation, Teleflex, Inc., Cook Medical, Inc. (Cook Group), Medtronic PLC, Terumo Corporation , Johnson & Johnson (Johnson & Johnson Services, Inc.), Becton, Dickinson and Company, AngioDynamics, Inc., Merit Medical Systems, Inc., and HealthTronics, Inc. (Altaris Capital Partners, LLC)
By Cancer Type
By Product Type
By End User
By Country
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