ASEAN and Korea Interventional Oncology Market Size, Share, Growth, Trends, and Global Industry Analysis: By Cancer Type (Lung Cancer, Breast Cancer, Prostate Cancer, Liver Cancer, and Kidney Cancer Other Cancers), By Procedure (Thermal Tumour Ablation, Non-Thermal Tumor Ablation, Transcatheter Arterial Chemoembolization, Transcatheter Arterial Radioembolization and Bland Embolization), By Product (Embolic Agents, Ablation Devices and Support Devices), By End User (Hospitals, Ambulatory Surgical Centres and Research and Academic Centres), and Country

The ASEAN and Korea Interventional Oncology Market was valued at US$ 125.9 million in 2019 and US$ 184.4 million in 2023 with a growth rate of 11.0% during the historic years. In 2024, the market valued at US$ 200.7 million.

Rising medical research and innovation investment is likely to drive the interventional oncology devices market in the approaching years. Pharmaceutical research and development encompass all processes from disease process research through compound testing, pre-clinical, and clinical review, which promotes innovation in interventional cancer devices to make them safer and more effective. The increase in pharmaceutical R&D investment has so aided in the development and enhancement of interventional oncology devices.

Key Players

The ASEAN and Korea Interventional Oncology Market players are Boston Scientific Corporation, Teleflex, Terumo Corporation, Cook Medical, HealthTronics, Inc, IMBIOTECHNOLOGIES LTD., Medtronic, MedWaves, Inc., Merit Medical Systems, Sanarus Technologies LLC, IceCure Medical, ABK Biomedical, Guerbet, Mermaid Medicals, Shape Memory Medical, Monteris Medical, ALPINION MEDICAL SYSTEMS Co., Ltd., Instylla, Profound Medical Corp, SIRTEX and Trisalus Lifesciences.

In ASEAN and Korea Interventional Oncology market, top key players like Boston Scientific is a leading manufacturer of medical devices offering solutions in interventional medical specialties, Electrophysiology, Pain Medicine, Neurological Surgery, etc., in the United States, Latin America, Canada, Europe, the Middle East & Africa, and Asia Pacific region.

Key Takeaways

• The Indonesian market is projected to grow at 8.7% CAGR over 2024 - 2030. The region accounted for US$ 49.6 million in 2023
• In the Cancer Type segment, the Lung Cancer segment accounted for US$ 47.5 Mn (2023) of the global market.
• By Procedure segment, Thermal Tumor Ablation segment accounted for US$ 63.1 Mn (2023) of the global market.
• By Product, Embolic Agents segment accounted for US$ 91.0 Mn (2023) of the global market.
• By End Users, Hospitals segment accounted for US$ 135.1 Mn (2023) of the global market.

Facts & Figures

• In the United States, a shortage of more than 2,300 medical oncologists is projected by 2025.
• According to GLOBOCAN 2018, there were 609,596 new cases of liver cancer in the Asian area in 2018, with a projected increase of 142,982 by 2025.
• China's health budget for 2016 was US$ 0.18 trillion, according to the National Health and Family Planning Commission (NHFPC). Similarly, the Indian government has launched the Ayushman Bharat plan, which would distribute US$ 7,030 (INR 5 lakh) per family per year to a population of over 500 million people. This programme will give complete screening for various illnesses, including cancer, to those over the age of 30.
• In 2021, liver cancer accounted for a 32.9% share of total revenue, valued at US$ 50.5 million.

Key Developments

• In Feb 2022, Sirtex Medical ("Sirtex"), announced that they along with Grand Pharmaceutical Group Limited, have received approval for SIR-Spheres® Y-90 resin microspheres from the National Medical Products Administration (NMPA) for the treatment of patients with colorectal cancer liver metastases.           
• In April 2021, TriSalus Life Sciences® announced data presented at the American Association of Cancer Research displaying that regional delivery of oligodeoxynucleotide 2395 (ODN2395) activated the toll-like receptor 9 (TLR9), resulting in reduced tumor burden of liver metastases in mice.
• In May 2021, Sirtex Medical ("Sirtex") announced that the first patient had been enrolled in DOORwaY-90, a study evaluating the safety and efficacy of selective internal radiation therapy (SIRT) using SIR-Spheres® Y-90 resin microspheres in patients with unresectable hepatocellular carcinoma (HCC).
• In May 2021, May 6, 2021, Profound announced a multi-site imaging center agreement for TULSA-PRO® with Akumin Inc. (NASDAQ/TSX:AKU) (the “Akumin Agreement”), a leading provider of fixed-site, freestanding outpatient diagnostic imaging services in the United States.

ASEAN and Korea Interventional Oncology Market Segmentation

By Cancer Type: In 2023, lung cancer and breast cancer were evaluated at US$ 47.5 million & US$ 37.8 million, respectively. Adenocarcinoma is the most common type of lung cancer that is observed, followed by large cell carcinoma. Precise RF ablation or Microwave ablation is gaining popularity in tackling lung cancer.

By Procedure: By Procedure Share, in 2023, Thermal Tumour Ablation was the most preferred procedure accounting for US$ 63.1 Million. Thermal ablation procedures are derived from already present cardiac ablation procedures, which is the prime reason for this segment’s consistent performance.

By Product: By Product Share, in 2023, embolic agents accounted for US$ 91.0 Million. Embolic agents have the most product variety comprising microspheres, coated beads, microparticles, and others. Each of them has their specific utility and as the embolization technique is a growing field it automatically holds the largest share.

By End Users: By end user, in 2021, Hospitals and medical colleges are the prime customers of IO devices. Among the hospitals, mainly the super specialty hospitals and cancer hospitals, wins the race, followed by medical colleges. Furthermore, Medical Colleges are buying these devices nowadays due to the requirement for training new specialists who can operate the machines.