Oncology Devices Market Analysis Market Size, Application Analysis, Regional Outlook, Competitive Strategies and Forecasts, 2014 To 2020
Growing prevalence of metastasis cancer such as lung cancer, leukemia and breast cancer coupled with increasing demand for early prognosis and diagnosis of cancer is the high impact rendering driver for the growth of oncology devices market. As, per the W.H.O estimates, in 2013, around 8.2 million people globally died due to cancer. In addition, presence of stringent rules and regulations related to medical devices and increasing healthcare expenditure in the emerging countries such as India and China are expected to propel the growth of oncology devices market.
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The therapeutic market is segmented into chemotherapy, hormone therapy, biotherapy and radiation therapy. Diagnosis market is classified into imaging, biopsy, endoscopy and blood tests. Biotherapy or biotech drugs market is expected to show a significant CAGR during the forecast period owing to its gaining popularity and advantages associated with it such as effectiveness and lesser side effects. Radiation therapy was considered as a high revenue generating segment owing to its high usage rates.
North America, Europe, Asia Pacific and RoW are the regions considered for this study. North America dominated the overall market in terms of revenue due to increasing prevalence of cancer along with advanced healthcare infrastructure. Asia pacific oncology devices market is expected to show lucrative growth rate during the forecast period. High market penetration rates, presence of high untapped opportunity, growing healthcare awareness levels and rapidly improving healthcare infrastructure are the factors expected to drive the market growth in Asia Pacific region.
Major players for this market include C.R Bard Inc., Accuray, GE healthcare, Eckert and Ziegler Bebig, Oncura Inc, PLC, Biogenex Laboratories, IBA group, Roche diagnostics, Elekta AB, Varian Medical Systems, and Theragenics Corporation.
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