The global interventional oncology market size was estimated at USD 4.09 billion in 2023 and is projected to grow at a CAGR of 10.27% from 2024 to 2030. This growth can be attributed to the increasing prevalence of cancer, increasing technological advancements in minimally invasive procedures, growing geriatric population, rising focus on early cancer detection, and increasing public and private investments in the field of interventional oncology. There is a significant rise in the number of cancer cases globally, increasing the need for advanced solutions facilitating better cancer care According to the World Health Organization data published in February 2022, cancer accounted for around 10 million deaths in 2020, causing 1 in every 6 deaths globally. 

The rising global incidence of cancer is largely attributed to increasing tobacco use, unhealthy diets, alcohol consumption, air pollution, and physical inactivity. This surge in cancer cases poses a significant challenge for healthcare systems, spurring the development of advanced solutions that offer better results and outcomes. Interventional oncology, which provides a minimally invasive alternative to traditional cancer treatments such as surgery, radiation, and chemotherapy, has become increasingly popular. Its advantages in terms of reduced patient trauma and quicker recovery times are key factors driving market growth.

Gather more insights about the market drivers, restrains and growth of the Interventional Oncology Market

Key Interventional Oncology Company Insights

Key players operating in the market are undertaking various initiatives to strengthen their market presence and increase the reach of their products and services. Strategies such as expansion activities and partnerships are playing a key role in propelling market growth.

Recent Developments

• In August 2022, Boston Scientific Corporation acquired Obsidio, Inc. This acquisition strengthens the company’s interventional oncology & embolization portfolio with the addition of Gel Embolic Material (GEM) technology, offering a differentiated solution to patients and physicians.

• In July 2021, Terumo Europe announced the signing of a Memorandum of Understanding (MoU) with the University Medical Center Utrecht (UMC Utrecht) to extend their partnership and enhance education and innovations for the development of effective solutions in interventional oncology.

• In July 2020, Terumo Corporation announced the acquisition of Quirem Medical, a Netherlands-based healthcare startup, to enhance the company’s interventional oncology field. With this acquisition, the company adds 3 integrated products, QuiremScout, QuiremSpheres, and Q-Suite, to its portfolio, which allows physicians to offer personalized treatment and care to patients.

Global Interventional Oncology Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global interventional oncology market report based on technique, procedure, application, end use, and region.

Technique Outlook (Revenue, USD Million, 2018 - 2030)

• Ablation Therapies

o Radiofrequency Ablation (RFA)

o Microwave Ablation (MWA)

o Cryoablation

o Laser Ablation

o Irreversible Electroporation (IRE)

• Embolization Therapies

o Transarterial Chemoembolization (TACE)

o Transarterial Radioembolization (TARE)

• Biopsy Techniques

o Core Needle Biopsy

o Fine Needle Aspiration (FNA)

• Targeted Therapy Delivery Systems

o Drug-Eluting Beads

o Radioembolization

o Drug-Eluting Stents

o Injectable Hydrogels and Nanoparticles

o Other Targeted Therapy Systems

• Image-Guided Procedures

o Ultrasound Guidance

o CT Scan Guidance

o MRI Guidance

o Fluoroscopy Guidance

Procedure Outlook (Revenue, USD Million, 2018 - 2030)

• Tumor Ablation

• Tumor Biopsy

• Vascular Interventions

• Palliative Care

Application Outlook (Revenue, USD Million, 2018 - 2030)

• Liver Cancer

• Lung Cancer

• Kidney Cancer

• Prostate Cancer

• Breast Cancer

• Other Cancer

End Use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals

• Specialty Clinics

• Others

Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

o U.S.

o Canada

o Mexico

• Europe

o Germany

o UK

o France

o Italy

o Spain

o Denmark

o Sweden

o Norway

• Asia Pacific

o China

o Japan

o India

o South Korea

o Australia

o Thailand

• Latin America

o Brazil

o Argentina

• MEA

o South Africa

o Saudi Arabia

o UAE

o Kuwait

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