Interventional Oncology Devices Market 2022: Market Size, Trends, And Forecast To 2026

The Business Research Company’s Interventional Oncology Devices Market 2022: Market Size, Trends, And Forecast To 2026

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Artificial intelligence (AI) is increasingly being used in cancer diagnosis and treatment. In interventional oncology, AI is used to identify imaging biomarkers to aid clinical decision-making capabilities and predict outcomes. AI can also help in standardizing and automating image interpretation and cancer detection. According to the Lancet, a medical journal, the number of approved AI/ML-based medical devices has increased globally, with 129 AI/ML-based medical devices being approved for radiology in the USA between 2015 and 2019, supporting this trend.

Rising research and development spending in the medical sector is expected to fuel the interventional oncology devices market in the coming years. Pharmaceutical research and development include all steps from the initial research of the disease process, to compound testing, pre-clinical, and clinical evaluation, which drives innovation in interventional oncology devices to make them safer and more effective. The surge in pharmaceutical research and development spending has therefore supported the development and advancement of interventional oncology devices. For instance, global spending on pharmaceutical research and development is expected to increase from $188 billion in 2020 to $227 billion by the end of 2025.

Read more on the Global Interventional Oncology Devices Market Report
https://www.thebusinessresearchcompany.com/report/interventional-oncology-devices-market

The global interventional oncology devices market size is expected to grow from $2.06 billion in 2021 to $2.82 billion in 2026 at a rate of 6.5%. The global interventional oncology devices market share is then expected to grow at a CAGR of 7.0% from 2026 and reach $3.97 billion in 2031.

Major players covered in the global interventional oncology devices industry are Boston Scientific Corporation, Terumo Corporation, Siemens Healthineers, Sirtex Medical Limited, Merit Medical Systems, Inc.

North America was the largest region in the interventional oncology devices market, accounting for 35.6% of the total in 2021. It was followed by Western Europe, and then the other regions. Going forward, the fastest-growing regions in the interventional oncology devices market will be Asia Pacific, and, South America where growth will be at CAGRs of 8.1% and 7.2% respectively. These will be followed by North America, and Western Europe, where the markets are expected to grow at CAGRs of 6.3% and 6.0% respectively.

TBRC’s interventional oncology devices market report is segmented by product into embolization devices, ablation devices, support devices, by procedure into thermal tumor ablation, non-thermal tumor ablation, transcatheter arterial chemoembolization (TACE), transcatheter arterial radioembolization (TARE), selective internal radiation therapy (SIRT), transcatheter arterial embolization (TAE), bland embolization, by end-user into liver cancer, kidney cancer, lung cancer, bone cancer, other cancer types.

Interventional Oncology Devices Market 2022 – 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), Selective Internal Radiation Therapy (SIRT), Transcatheter Arterial Embolization (TAE), Bland Embolization), By Cancer Type (Liver Cancer, Kidney Cancer, Lung Cancer, Bone Cancer, Other Cancer Types), And By Region, Opportunities And Strategies – Global Forecast To 2031 is one of a series of new reports from The Business Research Company that provides a interventional oncology devices market overview, forecast interventional oncology devices market size and growth for the whole market, interventional oncology devices market segments, geographies, interventional oncology devices market trends, interventional oncology devices market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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