Oncology Devices Market Size, Share, Revenue, Trends And Drivers For 2024-2033

The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033

LONDON, GREATER LONDON , UK, September 3, 2024 /EINPresswire.com/ -- The oncology devices market has experienced robust growth in recent years, expanding from $128.46 billion in 2023 to $153.93 billion in 2024 at a compound annual growth rate (CAGR) of 19.8%. The growth in the historic period can be attributed to rising prevalence of cancer, growing aging population, increasing demand for personalized cancer treatments, genomic profiling.

Strong Future Growth Anticipated
The oncology devices market is projected to continue its strong growth, reaching $298.31 billion in 2028 at a compound annual growth rate (CAGR) of 18.0%. The growth in the forecast period can be attributed to minimally invasive surgical techniques, biodegradable implants, global expansion of healthcare, value-based care models, digital health integration.

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Growth Driver Of The Oncology Devices Market
The increasing demand for chemotherapy is expected to propel the growth of the oncology devices market going forward. Chemotherapy is a systemic treatment that works by targeting and destroying rapidly dividing cells, which includes cancer cells. Oncology devices are used in chemotherapy for precise drug delivery of drugs, to reduce systemic toxicity and side effects, and to enhance efficiency. For instance, in February 2022, according to Healthcare IT News, a US-based recognized source of news and information in the field of healthcare information technology (IT), by 2040, the demand for cancer chemotherapy will increase from 10 million to 15 million. Therefore, the increasing demand for chemotherapy is driving the growth of the oncology devices market .

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Oncology Devices Market Major Players And Market Trends
Key players in the oncology devices market include Eckert & Ziegler BEBIG GmbH, Oncura Inc., GE Healthcare, Medtronic PLC, Varian Medical Systems Inc., Elekta AB, Theragenics Corporation.

Major companies operating in the oncology devices market are focusing on innovative products such as benchmark ultra plus system to drive revenues in their market. The benchmark ultra plus system is a fully automated and integrated platform used in pathology and diagnostic laboratories for various laboratory processes, including the preparation, staining, and imaging of tissue samples and slides.

Oncology Devices Market Segments:
1) By Device Type: Brachytherapy Devices, Endoscopic Devices
2) By Therapy: Chemotherapy, Hormone Therapy, Biotherapy/Immunotherapy, Radition Therapy
3) By End User: Hospitals, Cancer Research Institutes, Other End Users

Geographical Insights: North America Leading The Market
North America was the largest region in the oncology devices market in 2023. Asia-Pacific was the second-largest region in the oncology devices market report. The regions covered in the oncology devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Oncology Devices Market Definition
Oncology devices are medical devices used in the diagnosis, management, and treatment of cancer.
The main device types of oncology devices are brachytherapy devices and endoscopic devices. Endoscopic devices are medical devices used in the diagnosis, management, and treatment of cancer. It is used to look internally at a body cavity or organ. These are used in various therapies such as chemotherapy, hormone therapy, biotherapy/immunotherapy, and radiation therapy that are used by various end-users such as hospitals, cancer research institutes, and others.

Oncology Devices Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Oncology Devices Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on oncology devices market size, oncology devices market drivers and trends, oncology devices market major players, oncology devices competitors' revenues, oncology devices market positioning, and oncology devices market growth across geographies. The oncology devices market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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