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Global Oncology Devices Market

Dec. 1, 2019

Global Oncology Devices Market, By Therapeutic (Chemotherapy, Hormone therapy, Biotherapy, Radiation therapy), By Diagnosis (Biopsy, Imaging, Endoscopy, Blood Tests), By End User (Cancer Research Institutes, Hospitals and Others), By Region (North America, Latin America, Europe, Asia-Pacific, and Middle East and Africa) - Global Forecast, 2020-2025.

Report Code :FMR280      
Industry : Medical Devices
Pages :205 Pages
Format :   PPT Format   PDF Format

The global oncology devices market was valued at US$ xx million in the year 2019. This market is estimated to be valued at US$ xx million in the year 2020, and is expected to reach US$ xx million by the year 2025, with an estimated CAGR of xx% during the forecast period (2020-2025). The global market for oncology devices is expected to grow during the forecast period due to the increasing prevalence of cancer globally and the patients' level of health care expenditure. Additionally, oncology devices used for the diagnosis of increasing number of cancer patients are expected to drive the market growth. For instance, in 2018, according to the WHO, the cancer was responsible for an estimated 9.6 million deaths, globally.

Table 1. Global Oncology Devices Market Synopsis

Parameters

Description

Market Value (US$ Mn) for the Period

2018-2025

Base Year

2019

Forecast Period

2020-2025

Market Segmentation (By Therapeutic)

Chemotherapy, Hormone therapy, Biotherapy, Radiation therapy

Market Segmentation (By Diagnosis)

Biopsy, Imaging, Endoscopy, Blood Tests

Market Segmentation (By End User)

Cancer Research Institutes, Hospitals and Others

Regions Covered

North America, Latin America, Europe, Asia-Pacific, Middle East & Africa

Key Players Coverage

Medtronic Plc, GE Healthcare, Varian Medical Systems, Roche diagnostics, Oncura Inc, Elekta, Theragenics Corporation Accuray Eckert & Ziegler BEBIG, among others.

Key Insights

  • Latest Updates
  • Analyst Views
  • Future Outlook of the Market

Market Dynamics

The global rise in population and healthcare concerns are expected to drive the market for oncology devices. Additionally, in this digital age, the techniques like robotics & minimal invasive surgery, image fusion and augmented reality surgery are further expected to boost the market growth for oncology devices due to their efficiency and enhanced characteristics. For instance, in January 2019, Cleveland Clinic utilized Microsoft HoloLens Augmented Reality technology to enhance liver cancer therapy, aortic aneurysms, ovarian cancer, and even face transplant surgery. However, high capital costs may restrain the market growth.

Figure 1. PORTER’S Analysis

 

Note: Above figure shown for illustrative purpose only, the actual data may vary and will be incorporated in the report.

The global market for oncology devices is expected to be dominated by North America, owing to the increase in cancer incidence. Nearly 1.73 million new cases of cancer were diagnosed in the U.S. in 2017 according to the National Cancer Institute. In addition, an estimated 15,270 children and teens under the age of 19 were diagnosed with cancer in 2017 in the U.S.

Moreover, growth in the cancer population and the availability of favorable cancer diagnostics reimbursement policies are the key factors expected to drive the oncology devices market in Europe.

Furthermore, increasing prevalence of cancer among the tobacco-consuming population and the increasing use of advanced oncology devices in the Asia-Pacific healthcare system are projected to fuel the market during the forecast period. In addition, the rate of adoption of advanced devices in hospitals, government policies and well-developed hospital infrastructure in countries like Japan, India and China is rising. For instance, Kerala government, offers the Cancer Suraksha Scheme, under which children under 18 years of age get free cancer treatment via some designated government hospitals in the state. All the above mentioned factors may support the market growth in this region.

FIgure 2. Regional Analysis

 

Note: Above figure shown for illustrative purpose only, the actual data may vary and will be incorporated in the report.

Competitve Landscape

Key players in global l oncology devices market include Medtronic Plc, GE Healthcare, Varian Medical Systems, Roche diagnostics, Oncura Inc, Elekta, Theragenics Corporation Accuray Eckert & Ziegler BEBIG, among others. Key players in the market are focused on new drug launches, expansions and acquisitions. For instance, in April 2018, Varian declared the launch of their new version of the velocity cancer imaging software. The software includes Rapidsphere, a dosimetry analyzer module for Y90 Selective Internal Radiation Therapy (SIRT). It helps to understand the toxicity of individual patients’ tumors better.

Figure 3. Market Share of Key Players, 2019

 

Note: Above figure shown for illustrative purpose only, the actual data may vary and will be incorporated in the report.

By Therapeutic

  •  Chemotherapy
  • Hormone therapy
  •  Biotherapy
  •  Radiation therapy

By Diagnosis

  • Biopsy
  • Imaging
  • Endoscopy
  • Blood Tests

By End-User

  • Cancer Research Institutes
  •  Hospitals
  • Others

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa
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Note: This report provides in-depth analysis of the global oncology devices market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2020-2025), considering 2019, as the base year.

  • What are the trends adopted by key players in the global oncology devices market?
  • What key factors are expected to increase the demand for global oncology devices market during the forecast period 2020-2025?
  • What are the major challenges inhibiting the growth of the global oncology devices market?
  • What is the total market value (US$ Mn) generated in global oncology devices market by product type in 2019 and what are the forecasts by 2025?
  • Which end user is expected to dominate the global oncology devices market in the coming years?
  • What was the total revenue generated by the global oncology devices market across different regions (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) in 2019, along with CAGR (%) for the period (2020-2025)?
  • Who are the key players contributing the growth of the global oncology devices market, and what are the new strategies adopted by them to retain a market share in the industry?
  • What is the competitive strength of the key players in the global oncology devices market?
  • What are the major outcomes derive from the Porter’s five forces?
  • What new products going to be approved or launched in the coming years which may have huge impact in the market?
  • What insights are derived through the analysis of key players on following parameters: company overview, financial performance, product portfolio, geographical presence, key highlights, and strategies?

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