Europe Interventional Oncology Market Size and Growth Rate Analysis:
According to latest market research report, the Europe Interventional Oncology Market is expected to reach USD 816 million by 2025 from an estimated USD 522 million in 2018, at a CAGR of 6% over the forecast period
Growth Opportunities, Challenges and Restraints - Europe Interventional Oncology Market
The growth of this regional market is mainly due to the growing preference for minimally invasive procedures, the increase in the number of selected patients, the increase in public and private funding and public support for cancer research technological advances in the field of interventional oncology, and increased public investment cancer-related research. The growing demand for minimally invasive (MI) procedures will guide the growth prospects of the European interventional oncology market until the end of 2025. Interventional oncology involves MI procedures to treat patients with other associated and inoperable comorbidities.
The oncological intervention procedures include the diagnosis and treatment of cancer using minimally invasive procedures performed under image surveillance. The process uses equipment such as X-rays, ultrasound, computed tomography or magnetic resonance imaging as a guide. The procedures are performed using accessories and guidance instruments, including ablation electrodes, guide wires, biopsy needles and intravascular catheters for the treatment of a tumor located in remote areas of the body.
Interventional oncology is used to treat primary or metastatic cancer, such as liver cancer, kidney cancer, lung cancer, prostate cancer, breast cancer, and pancreatic cancer. Most of these procedures are performed on an outpatient basis or require a one-night hospital stay. Due to its minimally invasive nature, the recovery time required is minimal. Some of the popular procedures are palliation of pain, intraarterial therapies, ablative therapies and neoadjuvant procedures.
The growing demand for minimally invasive therapies is the main driver of market growth in Europe. These procedures could also be used to treat patients with other related comorbidities and inoperable patients. The ability of minimally invasive techniques to treat cancer cells better than other treatments for cancer such as radiotherapy, surgery and routine chemotherapy has allowed this technique to gain popularity.
The growing integration of image-guided solutions in interventional oncology procedures will lead to growth prospects for the interventional oncology market for the next four years. Improving the diagnosis and treatment of cancer-related problems has been one of the main factors contributing to the growing use of image-guided solutions with interventional oncology procedures.
Moreover, healthcare professionals and patients are gradually opting for minimally invasive procedures due to advantages of using these techniques such as shorter hospital stay, minimal risk of infection, minimal risk of complications, less pain, and faster recovery time in comparison to conventional surgeries. These advantages of using minimally invasive procedures will impel the growth of the interventional oncology market in this region.
Geographical Insights of Europe Interventional Oncology Market
On the basis of geography, the Europe Interventional Oncology Market is analysed under regions of UK, Spain, Italy, Germany and France. Some of the major factors responsible for the market’s growth in the region include the growing adoption of MI procedures, growing prevalence of cancer cases, technological advancements such as robotic navigation systems, and the availability of reimbursements by Medicare. Moreover, the increasing support from the government for research and development activities will also contribute to the market’s growth in this region.
Some of the promising companies leading the Europe Interventional Oncology Market:
- BTG plc (UK)
- Boston Scientific
- IceCure Medical
- Mermaid Medicals
- Interface Biomaterials BV
- ABK Biomedical
- Shape Memory Medical
- Endo Shape
- Monteris Medical
- Trisalus Lifesciences
This research report includes following segmentation for the Europe Interventional Oncology Market size and forecast
Europe Interventional Oncology Market - By Product
- Ablation Devices
- Embolization Devices
- Assistive Devices
Europe Interventional Oncology Market - By Procedure
- Thermal Ablation of Tumours
- Non-Thermal Ablation of tumours
- Transcatheter Arterial Chemoembolization (TACE)
- Transcatheter Arterial Radioembolization (TARE)
- Mild Embolization
Europe Interventional Oncology Market - By Cancer Type
- Liver Cancer
- Kidney Cancer
- Lung Cancer
- Bone Cancer
- Other Cancers
Europe Interventional Oncology Market - By Region
- United Kingdom