U.S. Interventional Oncology Market Size, Share & COVID-19 Impact Analysis, By Type (Radiation Therapy, Ablation Devices {Microwave Ablation, Radiofrequency Ablation, Cryoablation, and Others}, and Particle Embolization Devices {Microcatheters and Guidewires}), By Cancer Type (Lung Cancer, Liver Cancer, Kidney Cancer, and Others), By End-user (Hospitals, Specialty Clinics, and Others), and Country Forecast, 2023-2030

The U.S. interventional oncology market size was worth USD 750.2 million in 2022 and is projected to grow at a CAGR of 7.8% during the forecast period. 

Interventional oncology utilizes minimally invasive techniques, such as tumor ablation and embolization, guided by imaging, to diagnose and treat cancer. It offers patients less invasive options with shorter recovery times and fewer side effects than traditional surgery. The U.S. has observed a significant rise in the prevalence of several forms of cancers, which has led to the increasing population seeking diagnosis and treatment. For instance, according to a research article published by the American Society of Clinical Oncology (ASCO), in the U.S., it was estimated that 288,300 men will be diagnosed with prostate cancer in 2023.

The rise in minimally-invasive procedures is due to the association of various benefits with these procedures, such as a minimal risk of infections, shorter hospital stays, and fewer complications, as compared to invasive surgeries, which are the major factors driving the demand for interventional oncology products.

The COVID-19 pandemic resulted in lower demand for ablation devices and particle embolization devices in 2020. This was due to the decrease in the number of visits of cancer patients to hospitals and lower oncology services during the pandemic. However, after the relaxation of the lockdown in the country, the resumption of interventional oncology treatments in healthcare facilities with the image guidance normalized the market in 2021 and 2022.

U.S. Interventional Oncology Market Trends

Growing Adoption of Radioembolization for the Oncology Treatment

In recent years, the market has witnessed a gradual increase in the adoption of radioembolization in minimally invasive procedures for the treatment of cancers. These interventional oncology procedures maximize the radiation to cancer cells while minimizing the damage to healthy tissues, leading to reduced side effects. In addition, this is effective for liver cancers, offering improved tumor control and potentially extending patient survival with fewer adverse effects compared to other treatments.

Furthermore, the market players are focusing on developing devices to attract a wider customer base by providing improved treatment facilities to oncologists. In addition, as the market players continue to embrace digital technologies, it is anticipated that the market for embolization devices will continue to foster the U.S. interventional oncology market growth.

U.S. Interventional Oncology Market Growth Factors

Growing Cancer Population to Boost the Demand for Minimally Invasive Procedures, Driving Market Growth

The growing cancer population has increased the demand for minimally invasive procedures, such as radiofrequency ablation, chemoembolization, and radioembolization. These techniques offer targeted treatment options, reducing the need for invasive surgery and the associated recovery times. Hence, these products’ effectiveness in treating cancers is expected to drive the demand for interventional oncology products.

• For instance, according to the American Cancer Society, in 2022, the estimated number of kidney & renal pelvis cancer was 79,000 in the U.S.

Furthermore, cancer patients and healthcare providers increasingly favor interventional oncology for their effectiveness in treating various types of cancers, including liver, lung, and kidney cancers. This factor is increasing the adoption of minimally invasive procedures, thereby expected to boost the market growth during the forecast timeframe.

In the U.S., the estimated cases of lung & bronchus cancer and liver & intrahepatic bile duct cancer were 236,740 and 41,260 in 2022.

RESTRAINING FACTORS

High Cost of Procedures May Hinder Market Growth

Despite the increased adoption of minimally invasive cancer treatments in the country, the high costs associated with this cancer treatment may hamper the adoption of products in the U.S. interventional oncology market. Moreover, the cost of these procedures varies depending on their features and type, with certain advanced products costing several thousand dollars. These factors act as significant barriers to their adoption in hospitals and specialty clinics in the country.

For instance, according to the study published by the Journal of the American College of Radiology in August 2021, the costs of ablation increased from USD 3,288 to USD 4,461 for tumor treatment.

U.S. Interventional Oncology Market Segmentation Analysis

By Type Analysis

Based on type, the market is segmented into radiation therapy, ablation devices, and particle embolization devices.

The radiation therapy segment dominated the market in 2022. The segmental growth is attributed to the various benefits associated with the device, such as its ability to provide targeted and precise tumor control, including minimizing damage to the surrounding healthy tissues. Furthermore, the growing preference for minimally invasive procedures is expected to boost the adoption of these products in the U.S. market for interventional oncology.

The particle embolization devices segment is expected to grow at the highest CAGR during the forecast period. The growth is attributed to the introduction of products and the growing demand for advanced products for the treatment of cancer in the country.

• For instance, in November 2023, Fluidx Medical Technology, Inc. announced the development of the Ultra peripheral embolic platform for addressing hemorrhage, tumor treatment, and other proximal embolization applications.

By Cancer Type Analysis

Based on cancer type, the market is segmented into lung cancer, liver cancer, kidney cancer, and others.

The liver cancer segment accounted for the largest U.S. interventional oncology market share in 2022 due to the increasing number of patients suffering from liver cancer in the country. This is expected to drive the demand for minimally invasive treatments, thereby propelling the segment growth during the forecast period.

• For instance, according to the data published by the American Cancer Society in the U.S., the new cases of liver & intrahepatic bile duct cancer were estimated to be 42,230 in 2021. Some of the most common types of liver cancers include hepatocellular carcinoma and intrahepatic bile duct cancers. Such a high burden of cancer is expected to boost the market growth during the forecast period.

By End-user Analysis

Based on end-user, the market is segmented into specialty clinics, hospitals, and others.

The hospitals segment is expected to grow at a notable CAGR during the forecast period and accounts for the largest share. The segment’s growth is owed to the increasing number of patient visits for cancer treatment to the hospitals and increasing demand for comprehensive cancer care services, which are poised to boost the segmental growth during the forecast period. Furthermore, the increasing focus of hospitals on cancer care is expected to boost the segmental growth.

List of Key Companies in U.S. Interventional Oncology Market

The U.S. interventional oncology market depicts the presence of established and emerging companies. Leading players in the market, such as Boston Scientific Corporation, Terumo Corporation, and Siemens Healthineers hold a significant share of the market. These market players are focusing on the establishment of new strategies, such as product launches, new subsidiaries, mergers, and acquisitions, in order to grow their footprints in the market.

Some other companies with a considerable presence in the U.S. market include Merit Medical Systems, BD, and other small & mid-sized players. These companies are focusing on the introduction of novel products, which is expected to boost their share in the U.S. market for interventional oncology.

LIST OF KEY COMPANIES PROFILED:

• Boston Scientific Corporation (U.S.)


• BD (U.S.)


• AngioDynamics (U.S.)


• Merit Medical Systems (U.S.)


• Hologic, Inc. (U.S.)


• Siemens Healthcare GmbH (Germany)


• Teleflex Incorporated (U.S.)


• Terumo Corporation (Japan)

KEY INDUSTRY DEVELOPMENTS:

• August 2023: Boston Scientific Corporation received approval from the U.S. FDA for a cryoablation system known as POLARx.


• September 2022: Fluidx Medical Technology, Inc. completed trial registration for its GPX embolization device. In multicenter studies, GPX has been used to treat multiple adrenal tumors, primary and metastatic tumors, and tumors in the arteries and veins.


• September 2022: Stryker announced that its OptaBlate bone tumor ablation system (OptaBlate) received 510(k) clearance from the U.S. FDA.

REPORT COVERAGE

The U.S. interventional oncology market research report provides a detailed analysis of the market. It also provides information related to key industry developments such as mergers and acquisitions and market dynamics, including drivers, restraints, and growth opportunities. In addition, it includes an overview of the technological advancements in the market and the prevalence of key cancer in the country. Moreover, the impact of COVID-19 and the industry overview during the pandemic and post-pandemic are covered in the report.

Report Scope & Segmentation