Middle East and Africa Interventional Oncology Market Overview:
The Middle East and Africa (MEA) interventional oncology market was valued at USD 88.4 million in 2018 and is predicted to grow at a CAGR of around 6.60% over the next few years to reach USD 136.1 million by the end of 2025.
Interventional oncology is a branch of medical science that deals with minimally invasive medical procedures performed by interventional radiologists for the diagnosis, treatment and palliation of different types of cancer. In interventional oncology procedures, various image-guided techniques, such as computed tomography, fluoroscopy, and ultrasound, are used to diagnose and treat the specific site affected by pain or cancer. They offer advantages like faster recovery, shorter hospital stays, minimal side effects, and more accurate and precise treatment compared to other conventional procedures.
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Drivers and Restraints:
The Middle East and Africa market for interventional oncology 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 in the world after cardiovascular disease. 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 this procedure like minimally invasive surgical procedures, technological advances in interventional oncology, increased public funds allocated to oncological procedures, etc., will spur the demand in the MEA region.
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 rapidly during the forecast period.
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Geographical Analysis:
It is expected that the interventional oncology market in the MEA region will experience a moderate CAGR during the prognosis period due to the high prevalence of cancer in highly populated countries, the rapid evolution of health systems, various government initiatives aimed at improving general medical care and improve per capita spending on medical care. In addition, it is expected that the increased investment of the leading companies in the region will contribute to the growth of the MEA market during the forecast period.
Key players operating in Middle East and Africa 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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