Global Interventional Oncology Devices Market Forecast To 2023

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%. The funding from government and private organizations help in the development of new technologies and devices, thereby driving the interventional oncology devices market. However, rising product recalls are likely to hinder the demand for interventional oncology devices.

Interventional oncology devices are used to detect and treat cancer using minimally invasive procedures and advanced imaging technologies.

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The global interventional oncology devices market is further segmented based on type and geography.
By Product: Embolization Devices, Ablation Devices, Support Devices
By Procedure: Thermal Tumor Ablation, Non-thermal Tumor Ablation, Transcatheter Arterial Chemoembolization (TACE), Transcatheter Arterial Radioembolization (TARE) or Selective Internal Radiation Therapy (SIRT), Transcatheter Arterial Embolization (TAE) or Bland Embolization
By Cancer Type: Liver Cancer, Kidney Cancer, Lung Cancer, Bone Cancer, Others.
By Geography: The global interventional oncology devices market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American interventional oncology devices market accounts for the largest share in the global interventional oncology devices market.

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Trends In The Interventional Oncology Devices Market
Companies are focusing on deploying robotics technology in interventional oncology devices for higher efficiency. Robotic systems integrate image-based planning and navigation with the installation of different instruments to the desired body part with better accuracy and efficiency.
Interventional Oncology Devices Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides interventional oncology devices market overviews, analyzes and forecasts interventional oncology devices market size and growth for the global interventional oncology devices market, interventional oncology devices market share, interventional oncology devices market players, interventional oncology devices market size, interventional oncology devices market segments and geographies, interventional oncology devices market trends, interventional oncology devices market drivers and interventional oncology devices market restraints, interventional oncology devices market’s leading competitors’ revenues, profiles and market shares. The interventional oncology devices market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.