Asia Pacific Interventional Oncology Market Size, Share & Industry Trends Analysis Report By Cancer Type (Liver Cancer, Lung Cancer, Kidney Cancer, Breast Cancer, Prostate Cancer, Bone Metastasis), By Product Type, By End User, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Asia Pacific Interventional Oncology Market would witness market growth of 6.7% CAGR during the forecast period (2022-2028).
One of the newest and most promising applications of IO is the precise delivery of innovative therapeutic medicines into tumours through catheter or direct intratumoral injection. Guided imaging had also been utilized to deploy cancer-killing viral and bacterial treatments. IO is also employed to guide tumour ablation, especially in patients with liver cancer. The imaging modality cone-beam computed tomography (CBCT) delivers more information than typical 2D imaging. Around the patient, a rotating C-arm including an X-ray source and a flat panel detector is used in CBCT.
As targeted therapy and oncology advance, it's more important than ever to collect frequent tissue so that doctors can learn about each cancer's unique genetic and immunological characteristics. As the present biopsy approach already involves numerous cores, specimens are treated in several ways for different studies, ranging from genomic to protein biomarker to fluorescence in situ hybridization, and specimens are handled in multiple ways for different analyses. Even though most biopsy planning depends on anatomic imaging, IO could utilize molecular imaging to assist lead the practitioner to select high-interest lesions. Oncologists can now examine the molecular data of cancer's most active locations, allowing for more accurately focused treatment.
The National Health and Family Planning Commission (NHFPC) that the health budget for 2016 is 1.24 trillion yuan, with the average annual growth rate of medical input above 20% over the past seven years. The eventual aim of healthcare reform, according to the commission, is to create a national health security system that focuses on providing everyone with equitable access to fundamental public health services. The budget is also utilized to encourage public hospital reform and upgrades at or above the county level. As per the NHFPC, the central government would give each county 3 million yuan per year to achieve the target, while paying a lump-sum of 20 million yuan to each city.
China is likewise working to reduce the financial burden on the poor. As per the NHFPC and the State Council's Leading Group Office of Poverty Alleviation and Development, by 2013, 12.56 million people were living in poverty due to costly medical expenditures, representing for 42.4 percent of the overall poor. Due to this high spending over medical and healthcare infrastructure across this region, the growth of the regional interventional oncology market would surge over the forecast period.
The China market dominated the Asia Pacific Interventional Oncology Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $231 million by 2028. The Japan market is poised to grow at a CAGR of 6% during (2022 - 2028). Additionally, The India market would display a CAGR of 7.3% during (2022 - 2028).
Based on Cancer Type, the market is segmented into Liver Cancer, Lung Cancer, Kidney Cancer, Breast Cancer, Prostate Cancer, Bone Metastasis, and Others. Based on Product Type, the market is segmented into Embolization Devices, Ablation Devices, and Support Devices. Based on End User, the market is segmented into Hospitals, Ambulatory Surgery Centers, and Research & Academic Institutes. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Boston Scientific Corporation, Teleflex, Inc., Cook Medical, Inc. (Cook Group), Medtronic PLC, Terumo Corporation , Johnson & Johnson (Johnson & Johnson Services, Inc.), Becton, Dickinson and Company, AngioDynamics, Inc., Merit Medical Systems, Inc., and HealthTronics, Inc. (Altaris Capital Partners, LLC)
Scope of the Study
Market Segments Covered in the Report:
By Cancer Type
- Liver Cancer
- Lung Cancer
- Kidney Cancer
- Breast Cancer
- Prostate Cancer
- Bone Metastasis
By Product Type
- Embolization Devices
- Ablation Devices
- Support Devices
By End User
- Ambulatory Surgery Centers
- Research & Academic Institutes
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Boston Scientific Corporation
- Teleflex, Inc.
- Cook Medical, Inc. (Cook Group)
- Medtronic PLC
- Terumo Corporation
- Johnson & Johnson (Johnson & Johnson Services, Inc.)
- Becton, Dickinson and Company
- AngioDynamics, Inc.
- Merit Medical Systems, Inc.
- HealthTronics, Inc. (Altaris Capital Partners, LLC)
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