Latin
America Interventional oncology market Overview:
Latin America interventional oncology market
was valued at USD 135.4 million in 2018 and is predicted to grow at a CAGR of
around 8.16% over the next few years to reach USD 232.6 million by the end of
2025.
The interventional oncology procedure is
performed more frequently with other treatments for cancer such as surgery,
chemotherapy and radiation therapy. These procedures offer several benefits,
such as faster recovery, shorter hospital stays, minimal side effects, and more
accurate and precise treatment compared to other therapeutic procedures.
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Interventional Oncology Market Research
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Latin
America Interventional oncology market Drivers
and Restraints:
The market for
interventional oncology in Latin America is growing mainly due to the high
prevalence and the increase in cancer incidence rates throughout the region. Cancer
is one of the leading causes of death after cardiovascular diseases. According
to the World Health Organization (WHO), cancer is responsible for 8.3 million
deaths each year and it is expected that 70% of new cases of cancer will be
reported in the next 20 years. It is expected that the growing cancer
population will be one of the main drivers of the market. In addition, it is
estimated that the benefits of minimally invasive surgical procedures,
technological advances in interventional oncology, increased public funds
allocated to oncological procedures, etc., will stimulate the demand within
this regional market.
The embolization procedure is the most
recommended worldwide due to the benefits associated with the procedure,
followed by the ablation procedure. Radiotherapy is a technique widely used in
interventional oncology. The embolization segment is expected to be a
significant market share by the end of 2025 and is expected to grow during the
forecast period.
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Geographical Insights of Latin
America Interventional oncology market:
Latin America is expected to be an important
part of the global interventional oncology market due to a large population
with chronic cancers such as hepatocellular carcinoma, lung cancer, kidney
cancer and metastatic colorectal cancer. In addition, the significant adoption
of minimally invasive surgeries for the effective management of cancer, the
establishment of well-established medical care infrastructures and the early
adoption of state-of-the-art interventional oncology products, also support
this market. It is further expected that the increase in investment of the
leading interventional oncology device companies in this region will contribute
to the growth of the market during the foreseen period.
Key players operating in the Latin America
Interventional oncology market include Boston
Scientific Corporation, Medtronic plc, Terumo Corporation, BTG plc,
AngioDynamics, Inc., Ethicon, Inc., Johnson & Johnson, Merit Medical
Systems, Inc., Sirtex Medical Limited, Siemens Healthineers, Eckert &
Ziegler BEBIG, Varian Medical Systems, Inc., and HealthTronics, Inc.
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