Interventional Oncology Devices Market By Product Type (Embolization Devices; Ablation Devices; Support Devices); By Cancer Type (Liver Cancer, Lung Cancer, Kidney Cancer, Bone Cancer, Breast Cancer, Prostate Cancer, Others); By End User (Hospitals, Specialty Clinics, Ambulatory Surgical Centers); By Geography, Segment Revenue Estimation, Forecast, 2024–2032.

Introduction and Interventional Oncology Devices Market Size

The Interventional Oncology Devices Market is expected to reach a valuation of approximately $2.8 billion in 2024 and is projected to grow at a compound annual growth rate (CAGR) of around 8.2% from 2024 to 2030, reaching nearly $4.5 billion by 2030. The market's growth is primarily driven by the increasing global cancer burden, advancements in minimally invasive treatment technologies, and rising preference for image-guided therapies.

 

Interventional oncology procedures such as embolization, ablation & support devices are witnessing higher adoption due to their ability to provide targeted tumor destruction with minimal side effects compared to traditional surgical methods. Emerging markets in Asia-Pacific & Latin America are expected to present lucrative opportunities due to improving healthcare infrastructure & rising awareness about minimally invasive oncology treatments. However, high procedure costs & limited reimbursement policies in several regions may pose challenges to market expansion. Technological innovations, including AI-powered imaging & robotic-assisted interventions, are anticipated to further enhance treatment efficacy, fueling long-term market growth.

 

Interventional Oncology Devices Market Dynamics

Interventional Oncology Devices Market Drivers

Rising Cancer Incidence Rates: In the 21st century, cancer has emerged as a significant issue, impacting society, public health, and the economy. It accounts for nearly one in six deaths (16.8%) globally and one in four deaths (22.8%) from noncommunicable diseases (NCDs) worldwide. In 2022, there were approximately 20 million new cancer cases and 9.7 million cancer-related deaths. An estimated 53.5 million individuals were alive within five years of their cancer diagnosis. According to the World Health Organization (WHO), cancer cases are projected to rise by 77% by 2050, reaching nearly 35 million new cases annually. The increasing burden of cancer is driving demand for minimally invasive treatment solutions like interventional oncology devices. The growing incidence of liver cancer has led to higher adoption of transarterial chemoembolization (TACE) procedures using embolization devices.

Advancements in Image-Guided Therapy: The integration of AI, robotic assistance & real-time imaging has enhanced the precision and effectiveness of interventional oncology treatments. The global AI in medical imaging market is expected to surpass $10 billion by 2032, improving procedural outcomes. Developments in MRI-guided radiotherapy have enabled more accurate targeting of tumors, reducing damage to surrounding healthy tissues. AI-powered imaging assists in radiofrequency ablation (RFA) & microwave ablation (MWA) for liver and lung tumors, ensuring targeted treatment.

 

Market Opportunities

Expanding Applications in Combination Therapies: The increasing use of interventional oncology devices in combination with immunotherapy and targeted drug delivery presents significant growth potential. Studies suggest that combining ablation techniques with immunotherapy can enhance patient survival rates by up to 40%. Cryoablation combined with checkpoint inhibitors has shown promising results in treating metastatic lung cancer.

Growing Adoption in Emerging Markets: The interventional oncology market is witnessing strong growth in Asia-Pacific and Latin America due to improving healthcare infrastructure. The Asia-Pacific oncology devices market is projected to grow at over 12% CAGR through 2030. Increased government investments in cancer care in countries like China and India are fostering the adoption of radioembolization and ablation therapies.

 

Market Challenges

High Cost of Procedures and Devices: The cost of interventional oncology procedures can range from $10,000 to $50,000 per session, limiting accessibility in low- and middle-income countries. Microwave ablation (MWA) devices, while effective, remain costly, restricting their adoption in cost-sensitive healthcare markets.

Limited Reimbursement Policies: Despite growing adoption, many countries still lack adequate reimbursement for interventional oncology procedures, leading to financial burdens on patients. In the U.S., only 50-60% of interventional oncology treatments receive full insurance coverage. Many insurance providers do not cover certain radioembolization therapies, making them less accessible to patients.

 

Interventional Oncology Devices Market Segmentation:

By Product Type

• Embolization Devices

• Ablation Devices

• Support Devices

 

By Cancer Type

• Liver Cancer

• Lung Cancer

• Kidney Cancer

• Bone Cancer

• Breast Cancer

• Prostate Cancer

• Others

 

By End User

• Hospitals

• Specialty Clinics

• Ambulatory Surgical Centers

 

By Region

• North America

• Europe

• Asia-Pacific

• Latin America

• Middle East & Africa

 

Interventional Oncology Devices Market Segment Analysis

By Product Type:

Leading Segment: Embolization Devices

Embolization devices hold the largest market share in the interventional oncology devices market. These devices are used to block or reduce blood flow to tumors, often in the treatment of liver and kidney cancers. Embolization therapies are preferred for their ability to treat tumors that are not amenable to traditional surgery. The growing prevalence of cancer worldwide, particularly in regions with a high burden of liver and kidney cancers, is driving the dominance of this segment. For example, the use of embolization devices is common in hepatocellular carcinoma (HCC) treatments. This segment is expected to grow at a CAGR of around 8% due to increasing cancer cases and the development of advanced embolic materials.

Fastest-Growing Segment: Ablation Devices

Ablation devices are the fastest-growing segment in the interventional oncology devices market, with a rapid adoption rate due to their minimally invasive nature. These devices, including radiofrequency ablation (RFA), microwave ablation (MWA) & cryoablation, are gaining popularity as they offer less trauma and quicker recovery times compared to traditional surgical methods. Ablation is particularly effective for treating tumors in liver, lung & kidney cancers. As more healthcare facilities adopt these technologies, the segment is expected to grow at a CAGR of over 9%. Additionally, the rise of image-guided techniques is accelerating the adoption of ablation therapies.

 

By Cancer Type:

Leading Segment: Liver Cancer

Liver cancer remains the leading cancer type treated with interventional oncology devices, primarily due to the high prevalence of hepatocellular carcinoma (HCC) in regions such as Asia-Pacific and North America. Embolization and ablation therapies are widely used for liver cancer because of the tumor's vascular nature, which makes them responsive to these minimally invasive procedures. The liver cancer segment is expected to account for around 35-40% of the market share in the interventional oncology devices market, with a projected CAGR of 8% due to increasing diagnosis and improved treatments.

Fastest-Growing Segment: Lung Cancer

Lung cancer is the fastest-growing segment in the interventional oncology devices market. The increasing incidence of lung cancer worldwide, especially in developed countries with high smoking rates, is a key factor driving growth in this area. Ablation devices are particularly effective for treating small lung tumors & advancements in imaging technologies such as CT & MRI are enhancing the precision of these procedures. The lung cancer segment is anticipated to grow at a CAGR of 9%, reflecting the increasing adoption of minimally invasive treatments.

 

By End-User:

Leading Segment: Hospitals

Hospitals continue to be the largest end-user of interventional oncology devices, contributing significantly to the market share. Hospitals have the necessary infrastructure, expertise & access to imaging technologies that are required for complex interventional procedures. The market share of hospitals is expected to exceed 50%, driven by their ability to offer comprehensive care, from diagnosis to treatment, for cancer patients. Additionally, hospitals are the primary centers for adopting new, advanced interventional oncology technologies, fueling their dominance in the market.

Fastest-Growing Segment: Ambulatory Surgical Centers

Ambulatory surgical centers (ASCs) are the fastest-growing end-user segment, with a high adoption rate of interventional oncology devices due to their focus on minimally invasive, outpatient procedures. These centers are increasingly using ablation devices & embolization therapies for cancer treatments because of their cost-effectiveness and quicker recovery times compared to hospital-based procedures. The ASC segment is expected to grow at a CAGR of 10%, driven by advancements in outpatient care and the increasing preference for non-invasive procedures.

 

By Region:

Leading Region: North America

North America holds the largest market share in the interventional oncology devices market, accounting for more than 40% of the global market. This is primarily driven by the high prevalence of cancer, advanced healthcare infrastructure, and high adoption rates of interventional oncology technologies. The U.S., in particular, is a key market, with a high demand for both embolization & ablation devices. The ongoing healthcare reforms & increasing focus on minimally invasive treatments are expected to contribute to continued growth in this region.

Fastest-Growing Region: Asia-Pacific

Asia-Pacific is the fastest-growing region for interventional oncology devices, with a projected CAGR of over 9% during the forecast period. Countries such as China, Japan, and India are seeing rapid growth in the adoption of interventional oncology devices, driven by increasing healthcare investments, improving healthcare infrastructure, and rising cancer incidences. The Asia-Pacific region is witnessing increased government and private sector investments in healthcare, particularly for cancer treatments, contributing to the expansion of the interventional oncology market.

 

Interventional Oncology Devices Market Key Players:

• Boston Scientific Corporation

• Medtronic plc

• AngioDynamics

• BTG International Ltd.

• Merit Medical Systems, Inc.

• Cook Medical

• Sirtex Medical Limited

• Siemens Healthineers

• Terumo Corporation

• Ethicon (Johnson & Johnson)

 

Interventional Oncology Devices Market Report Coverage

Report Attribute	Details
Forecast Period	2024 – 2030
Market Size Value in 2024	USD 2.8 Billion
Revenue Forecast in 2030	USD 4.5 Billion
Overall Growth Rate	CAGR of 8.2% (2024 – 2030)
Base Year for Estimation	2024
Historical Data	2017 – 2021
Unit	USD Million, CAGR (2024 – 2030)
Segmentation	By Product Type, By Cancer Type, By End User, By Geography
By Product Type	Embolization Devices; Ablation Devices; Support Devices
By Cancer Type	Liver Cancer, Lung Cancer, Kidney Cancer, Bone Cancer, Breast Cancer, Prostate Cancer, Others
By End User	Hospitals, Specialty Clinics, Ambulatory Surgical Centers
By Region	North America, Europe, Asia-Pacific, Latin America, Middle East & Africa
Country Scope	US, Canada, Germany, China, India, etc.
Market Drivers	Increasing prevalence of cancer, rising adoption of minimally invasive treatments, technological advancements in interventional oncology
Pricing and Purchase Options	Customized options available

 

Key Strategies:

• In March 2024, Boston Scientific Corporation announced the launch of its next-generation AI-enhanced radiofrequency ablation system, designed to improve precision in tumor targeting and ultimately enhance outcomes in liver cancer treatments.

• In February 2024, Medtronic plc unveiled an upgraded microwave ablation device that integrates advanced imaging guidance & navigation features, expanding its use in minimally invasive procedures for lung and kidney cancers.

• In January 2024, Siemens Healthineers secured FDA clearance for an innovative interventional imaging platform that combines real-time 3D visualization with machine learning algorithms to optimize procedural planning and execution in oncology.

• In December 2023, Terumo Corporation introduced a cutting-edge embolization device utilizing holmium-based microspheres, aimed at providing more effective radioembolization for patients with hepatocellular carcinoma.

 

Future Outlook

The future outlook for the interventional oncology devices market is highly promising, driven by continuous technological advancements & a growing global cancer burden. The market is expected to expand as companies invest heavily in research & development, leading to more sophisticated, AI-enabled systems that improve precision and patient outcomes. Increased adoption of minimally invasive procedures, coupled with favorable regulatory reforms and expanding healthcare infrastructure especially in emerging markets will further accelerate growth. Strategic collaborations & partnerships among key players are anticipated to drive innovation & streamline the integration of advanced imaging & robotic-assisted technologies, paving the way for more personalized cancer treatments.