BURLINGTON, Mass., Sept. 9, 2014 /PRNewswire/ -- Decision Resources Group finds that the United States interventional oncology device market will see strong growth, reaching a value of $760 million by 2023. Rising cancer incidence rates combined with the ineffectiveness of chemotherapy and demand for less invasive procedures will support interventional oncology device uptake.
Other key findings from Decision Resources Group's coverage of the U.S. interventional oncology device market:
- Importance of clinical trials: Although many clinical studies have been performed to demonstrate the efficacy of interventional oncology devices, further studies are required for head-to-head device comparisons. There is also demand for studies supporting effectiveness in new indications such as treatment of breast cancer, melanoma and neuroendocrine tumors. Large-scale trials will also be useful for driving adoption of combination treatments that use both ablation and embolization products.
- Rising use of microwave ablation: Microwave ablation will experience the strongest growth of all interventional oncology device segments. This treatment offers the same benefits as radiofrequency ablation but boasts larger ablation zones, faster treatment times and more complete tumor destruction.
- Growth of embolization particle market: Radioembolization spheres and drug-eluting beads (DEBs) are seeing increasing interest, particularly with interventional radiologists for the treatment of liver cancer tumors. Growth may be fueled further if these products demonstrate levels of efficacy in clinical trials that support their use as first-line therapies.
Comments from Decision Resources Group Analyst Naushad Budhwani:
- "Partnerships, mergers, and acquisitions in the interventional oncology device market are prominent as competitors attempt to penetrate untapped markets in the United States. For example, AngioDynamics acquired Microsulis Medical to add microwave ablation to its ablation portfolio, BTG acquired Therasphere to add radioembolization particles to its embolization product line containing DEBs and microspheres, and a distribution agreement was established between HS Medical and HealthTronics, which gives HealthTronics a growing thermal ablation product alongside its cryoablation products."
- "The practice of interventional oncology is certainly growing in the United States. For example, many sessions at the recent Society of Interventional Radiology (SIR) annual meeting were focused on this area, and new conferences like the World Conference on Interventional Oncology (WCIO) are being held to promote awareness and share knowledge in this space. Enthusiasm from the physician community will be essential if this market is to achieve its growth potential."
- Naushad Budhwani has written a Medtech 360 report on this subject entitled US Markets for Interventional Oncology Devices 2015.
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