Next-Generation Oncology Devices and Solutions Market - A Global and Regional Analysis: Focus on Clinical Application, End User, Type, and Region - Analysis and Forecast, 2022-2031

Jun 2022| BIS647A| BIS Research

Report Highlights

Global Next-Generation Oncology Devices and Solutions Market to Reach $5,971.3 Million by 2031

Market Segmentation:

Segmentation 1: by Clinical Application

  • Lung Cancer
  • Prostate Cancer
  • Breast Cancer
  • Others

The global next-generation oncology devices and solutions market in the clinical application segment is expected to be dominated by the breast cancer and the others segment.

Segmentation 2: by Type

  • Devices
    • By Technology
      • High-Intensity Focused Ultrasound
      • Advanced Forms of Radiation Therapy
      • Others
    • By Application
      • Diagnosis
      • Treatment and Monitoring
  • Software
    • By Application
      • Diagnosis
      • Treatment and Monitoring

Segmentation 3: by End User

  • Hospitals
  • Diagnostic Imaging Centers
  • Others

The global next-generation oncology devices and solutions in the end user segment is dominated by the hospital segment.

Segmentation 4: by Region

  • North America - U.S., Canada
  • Europe - Germany, France, U.K., Italy, Spain, Rest-of-Europe
  • Asia-Pacific - Japan, China, India, Australia, South Korea, Rest-of-Asia-Pacific
  • Rest-of-the-World - Kingdom of Saudi Arabia (K.S.A.), Brazil, U.A.E., Mexico, and Rest-of-Rest-of-the-World

Recent Developments in the Global Next-Generation Oncology Devices and Solutions Market

  • In May 2022, Varian Medical Systems and HP partnered with Adaptiiv for supporting cancer treatment.
  • In April 2022, Brainlab's patient monitoring and positioning system secured CE Mark.
  • In April 2022, GE Healthcare and Elekta entered into partnership to expand the access of precision radiation therapy solutions.
  • In March 2022, Paige AI Inc. launched its latest product, Paige Breast Lymph Node.
  • In March 2022, Paige AI Inc. launched its pathology AI for detecting breast cancer metastases in lymph nodes.
  • In February 2022, Paige and Mindpeak announced partnership to expand the access of industry – leading AI software for breast cancer.
  • In January 2022, Oulu University Hospital partnered with Varian and Siemens Healthcare to build a comprehensive ecosystem addressing cancer treatment pathway.
  • In December 2021, UofL Health entered into collaboration with Paige AI Inc. to deploy cancer detection software suite of Paige AI Inc.
  • In November 2021, Hologic received CE mark for Genius cervical cancer software.

Demand – Drivers and Limitations

Following are the drivers for the next-generation oncology devices and solutions market:

  • Increasing Prevalence of Oncology and a Growing Geriatric Population
  • Increase in Demand for Software Solutions in Oncology
  • Emerging Technologies in Oncology Testing and Treatment
  • Rising Preference for Minimally Invasive Techniques of Diagnosis and Treatment

The market is expected to face some limitations too due to the following challenges:

  • Side Effects and Risks Associated with Cancer Treatment
  • Dearth of Well-Trained and Skilled Professionals in Oncology

How Can This Report Add Value to an Organization?

  • Type: The ‘type’ segment helps the reader understand the different types of next-generation oncology devices and solutions available in the market. Moreover, the study provides the reader a detailed understanding of the different devices and solutions by clinical application (lung cancer, prostate cancer, breast cancer, and others). Furthermore, the study also covers different segments of type ((Device (Technology (High-Intensity Focused Ultrasound, Advanced Forms of Radiation Therapy, and Others), Application (Diagnosis and Treatment and Monitoring)), Software (Application (Diagnosis and Treatment and Monitoring))).
  • Growth/Marketing Strategy: The global next-generation oncology devices and solutions market has seen major development by key players operating in the market, such as business expansion, partnership, collaboration, and joint venture. The favored strategy for the companies has been regulatory and legal activities, partnerships, alliances, and business expansions to strengthen their position in the market. For instance, In April 2022, Brainlab's patient monitoring and positioning system secured CE mark. In May 2022, Varian Medical Systems (a subsidiary of Siemens AG) and HP entered into a partnership with Adaptiiv to support cancer treatment.

Impact of COVID-19

The pandemic led to the deferral of cancer diagnosis by patients owing to factors such as the risk of virus transmission and higher priority given to the management of COVID-19 cases. Before the COVID-19 pandemic, cancer screening and treatment were majorly undertaken in hospitals and clinical facilities. The emphasis on home-based oncology care was still in its nascent stage. The pandemic led to a deferral of screening and treatment for various types of cancers. Owing to factors such as travel restrictions and risk of transmission of the virus, there was an increased demand for home-based care during the pandemic. While teleconsultations witnessed a drastic increase throughout the healthcare industry, there was also increased demand for home-based tests for screening and monitoring cancerous disorders. Software solutions for oncology also witnessed higher demand as a result of the pandemic.

As the recovery phase of the COVID-19 pandemic begins, cancer diagnosis and treatment procedures are expected to normalize. The shift in preference to home-based care is expected to continue even after the pandemic subsides.

Global Next-Generation Oncology Devices and Solutions Market Industry Overview

The global next-generation oncology devices and solutions market report highlights that the market was valued at $3,268.2 million in 2021 and is expected to reach $5,971.3 million by the end of 2031. The market is expected to grow at a CAGR of 6.41% during the forecast period from 2022 to 2031. The market is driven by factors such as the increasing prevalence of oncology, increasing demand for software solutions in oncology, emerging technologies in oncology testing and treatment, and rising preference for minimally invasive techniques of diagnosis and treatment.

Market Lifecycle Stage

The next-generation oncology devices and solutions market is still in the development phase. Increased research and development activities are underway to develop more products.

The opportunity for growth of the next-generation oncology devices and solutions market lies in the increasing demand for home-based cancer testing and the growing demand for targeted therapy.

BIS Research is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.

With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.

Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.

BIS Research
Price: $5250

Become a Member

Already a member? Login to access this report free.

Have a Question? Ask Us.

Why BCC Research?

Every purchase provides access to:

  • Thousands of recently published reports from select publishers
  • Member Discounts of up to 50% on over 20,000 additional reports from all publishers
  • Our analysts and research concierge for all inquiries
CUSTOM RESEARCH

Need a custom data table, graph or complete report? Tell us more.

RELATED REPORTS
Share This Report