The market for interventional oncology devices comprises the sale of interventional oncology devices and related services by the entities that manufacture them. Interventional oncology devices are used to detect and treat cancer using minimally invasive procedures and advanced imaging technologies.
The global interventional oncology device market is expected to decline from $2.13 billion in 2019 to $2.01 billion in 2020 at a compound annual growth rate (CAGR) of -5.39%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $2.75 billion in 2023 at a CAGR of 10.99%.