Product Code: BHM1212SA
“Global Next-Generation Oncology Devices and Solutions Market to Reach $5,971.3 Million by 2031.”
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.
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.
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
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.
Table of Contents
1 Markets
- 1.1 Global Market Outlook
- 1.1.1 Product Definition
- 1.1.2 Inclusion and Exclusion Criteria
- 1.1.3 Key Findings
- 1.1.4 Assumptions and Limitations
- 1.1.5 Global Market Scenario
- 1.1.5.1 Realistic Growth Scenario
- 1.1.5.2 Optimistic Growth Scenario
- 1.1.5.3 Pessimistic/Conservative Growth Scenario
- 1.2 Industry Outlook
- 1.2.1 Key Trends
- 1.2.1.1 Emerging Use of Wearables
- 1.2.1.2 Growing Demand for Point-of-Care Testing (POCT) in Oncology
- 1.2.1.3 Growing Popularity of Smartphone-Based Diagnostics
- 1.2.1.4 Growing Demand for Minimally Invasive Methods of Cancer Diagnosis
- 1.2.1.5 Rising Number of Partnerships and Regulatory Milestones
- 1.2.2 Opportunity Assessment
- 1.2.2.1 Short-Term Potential
- 1.2.2.2 Long-Term Potential
- 1.2.3 Patent Analysis
- 1.2.3.1 Awaited Technological Developments
- 1.2.3.2 Patent Filing Trend (by Country)
- 1.2.3.3 Patent Filing Trend (by Year)
- 1.2.4 Product Benchmarking
- 1.2.5 End-User Perceptions
- 1.2.6 Case Studies
- 1.2.6.1 Stereotactic Body Radiation Therapy (SBRT) using TrueBeam for Inoperable Early-Stage Non-Small Cell Lung Cancer (NSCLC)
- 1.2.6.2 Breast Cancer Treatment Using Halcyon
- 1.3 Impact of COVID-19 on the Next-Generation Oncology Devices and Solutions Market
- 1.3.1 Impact on Adoption of Oncology Solutions
- 1.3.2 Impact on Market Size
- 1.3.2.1 Pre-COVID-19 Phase
- 1.3.2.2 During COVID-19 Phase
- 1.3.2.3 Post-COVID-19 Phase
- 1.3.3 Market Entry Barriers and Opportunities
- 1.4 Business Dynamics
- 1.4.1 Impact Analysis
- 1.4.2 Business Drivers
- 1.4.2.1 Increasing Prevalence of Oncology and a Growing Geriatric Population
- 1.4.2.2 Increase in Demand for Software Solutions in Oncology
- 1.4.2.3 Emerging Technologies in Oncology Testing and Treatment
- 1.4.2.4 Rising Preference for Minimally Invasive Techniques of Diagnosis and Treatment
- 1.4.3 Business Restraints
- 1.4.3.1 Side Effects and Risks Associated with Cancer Treatment
- 1.4.3.2 Dearth of Well-Trained and Skilled Professionals in Oncology
- 1.4.4 Business Opportunities
- 1.4.4.1 Increasing Demand for Home-Based Cancer Testing
- 1.4.4.2 Growing Demand for Targeted Therapy
2 Global Next-Generation Oncology Devices and Solutions Market, (by Clinical Application)
- 2.1 Opportunity Assessment
- 2.2 Growth-Share Matrix
- 2.3 Lung Cancer
- 2.4 Prostate Cancer
- 2.5 Breast Cancer
- 2.6 Others
3 Global Next-Generation Oncology Devices and Solutions Market (by End User)
- 3.1 Opportunity Assessment
- 3.2 Growth-Share Matrix
- 3.3 Hospitals
- 3.4 Diagnostic Imaging Centers
- 3.5 Others (Ambulatory Surgical Centers, Cancer Care Centers, and Government Institutions)
4 Global Next-Generation Oncology Devices and Solutions Market (by Type)
- 4.1 Opportunity Assessment
- 4.2 Growth-Share Matrix
- 4.3 Devices
- 4.3.1 By Technology
- 4.3.1.1 High-Intensity Focused Ultrasound
- 4.3.1.2 Advanced Forms of Radiation Therapy
- 4.3.1.3 Others
- 4.3.2 By Application
- 4.3.2.1 Diagnosis
- 4.3.2.2 Treatment and Monitoring
- 4.4 Software
- 4.4.1 By Application
- 4.4.1.1 Diagnosis
- 4.4.1.2 Treatment and Monitoring
5 Region
- 5.1 North America Next-Generation Oncology Devices and Solutions Market
- 5.1.1 Key Findings and Opportunity Assessment
- 5.1.2 Regulatory Framework
- 5.1.3 Key Players in North America
- 5.1.4 Market Dynamics
- 5.1.5 Sizing and Forecast Analysis
- 5.1.5.1 North America Next-Generation Oncology Devices and Solutions Market (by Clinical Application)
- 5.1.5.2 North America Next-Generation Oncology Devices and Solutions Market (by End User)
- 5.1.5.3 North America Next-Generation Oncology Devices and Solutions Market (by Type)
- 5.1.5.3.1 North America Next-Generation Oncology Devices and Solutions Market, Devices (by Technology)
- 5.1.5.3.2 North America Next-Generation Oncology Devices and Solutions Market, Device (by Application)
- 5.1.5.3.3 North America Next-Generation Oncology Devices and Solutions Market, Software (by Application)
- 5.1.5.4 North America Next-Generation Oncology Devices and Solutions Market (by Country)
- 5.1.5.4.1 U.S.
- 5.1.5.4.1.1 Market Dynamics
- 5.1.5.4.1.2 Sizing and Forecast Analysis
- 5.1.5.4.1.3 U.S. Next-Generation Oncology Devices and Solutions Market (by Clinical Application)
- 5.1.5.4.1.4 U.S. Next-Generation Oncology Devices and Solutions Market (by End User)
- 5.1.5.4.2 Canada
- 5.1.5.4.2.1 Market Dynamics
- 5.1.5.4.2.2 Sizing and Forecast Analysis
- 5.1.5.4.2.3 Canada Next-Generation Oncology Devices and Solutions Market (by Clinical Application)
- 5.1.5.4.2.4 Canada Next-Generation Oncology Devices and Solutions Market (by End User)
- 5.2 Europe Next-Generation Oncology Devices and Solutions Market
- 5.2.1 Key Findings and Opportunity Assessment
- 5.2.2 Regulatory Framework
- 5.2.3 Key Players in Europe
- 5.2.4 Market Dynamics
- 5.2.5 Sizing and Forecast Analysis
- 5.2.5.1 Europe Next-Generation Oncology Devices and Solutions Market (by Clinical Application)
- 5.2.5.2 Europe Next-Generation Oncology Devices and Solutions Market (by End User)
- 5.2.5.3 Europe Next-Generation Oncology Devices and Solutions Market (by Type)
- 5.2.5.3.1 Europe Next-Generation Oncology Devices and Solutions Market, Devices (by Technology)
- 5.2.5.3.2 Europe Next-Generation Oncology Devices and Solutions Market, Device (by Application)
- 5.2.5.3.3 Europe Next-Generation Oncology Devices and Solutions Market, Software (by Application)
- 5.2.5.4 Europe Next-Generation Oncology Devices and Solutions Market (by Country)
- 5.2.5.4.1 Germany
- 5.2.5.4.1.1 Market Dynamics
- 5.2.5.4.1.2 Sizing and Forecast Analysis
- 5.2.5.4.1.2.1 Germany Next-Generation Oncology Devices and Solutions Market (by Clinical Application)
- 5.2.5.4.1.2.2 Germany Next-Generation Oncology Devices and Solutions Market (by End User)
- 5.2.5.4.2 U.K.
- 5.2.5.4.2.1 Market Dynamics
- 5.2.5.4.2.2 Sizing and Forecast Analysis
- 5.2.5.4.2.2.1 U.K. Next-Generation Oncology Devices and Solutions Market (by Clinical Application)
- 5.2.5.4.2.2.2 U.K. Next-Generation Oncology Devices and Solutions Market (by End User)
- 5.2.5.4.3 France
- 5.2.5.4.3.1 Market Dynamics
- 5.2.5.4.3.2 Sizing and Forecast Analysis
- 5.2.5.4.3.2.1 France Next-Generation Oncology Devices and Solutions Market (by Clinical Application)
- 5.2.5.4.3.2.2 France Next-Generation Oncology Devices and Solutions Market (by End User)
- 5.2.5.4.4 Italy
- 5.2.5.4.4.1 Market Dynamics
- 5.2.5.4.4.2 Sizing and Forecast Analysis
- 5.2.5.4.4.2.1 Italy Next-Generation Oncology Devices and Solutions Market (by Clinical Application)
- 5.2.5.4.4.2.2 Italy Next-Generation Oncology Devices and Solutions Market (by End User)
- 5.2.5.4.5 Spain
- 5.2.5.4.5.1 Market Dynamics
- 5.2.5.4.5.2 Sizing and Forecast Analysis
- 5.2.5.4.5.2.1 Spain Next-Generation Oncology Devices and Solutions Market (by Clinical Application)
- 5.2.5.4.5.2.2 Spain Next-Generation Oncology Devices and Solutions Market (by End User)
- 5.2.5.4.6 Rest-of-Europe
- 5.2.5.4.6.1 Market Dynamics
- 5.2.5.4.6.2 Sizing and Forecast Analysis
- 5.2.5.4.6.2.1 Rest-of-Europe Next-Generation Oncology Devices and Solutions Market (by Clinical Application)
- 5.2.5.4.6.2.2 Rest-of-Europe Next-Generation Oncology Devices and Solutions Market (by End User)
- 5.3 Asia-Pacific Next-Generation Oncology Devices and Solutions Market
- 5.3.1 Key Findings and Opportunity Assessment
- 5.3.2 Regulatory Framework
- 5.3.3 Key Players in Asia-Pacific
- 5.3.4 Market Dynamics
- 5.3.5 Sizing and Forecast Analysis
- 5.3.5.1 Asia-Pacific Next-Generation Oncology Devices and Solutions Market (by Clinical Application)
- 5.3.5.2 Asia-Pacific Next-Generation Oncology Devices and Solutions Market (by End User)
- 5.3.5.3 Asia-Pacific Next-Generation Oncology Devices and Solutions Market (by Type)
- 5.3.5.3.1 Asia-Pacific Next-Generation Oncology Devices and Solutions Market, Devices (by Technology)
- 5.3.5.3.2 Asia-Pacific Next-Generation Oncology Devices and Solutions Market, Device (by Application)
- 5.3.5.3.3 Asia-Pacific Next-Generation Oncology Devices and Solutions Market, Software (by Application)
- 5.3.5.4 Asia-Pacific Next-Generation Oncology Devices and Solutions Market (by Country)
- 5.3.5.4.1 Japan
- 5.3.5.4.1.1 Market Dynamics
- 5.3.5.4.1.2 Sizing and Forecast Analysis
- 5.3.5.4.1.2.1 Japan Next-Generation Oncology Devices and Solutions Market (by Clinical Application)
- 5.3.5.4.1.2.2 Japan Next-Generation Oncology Devices and Solutions Market (by End User)
- 5.3.5.4.2 China
- 5.3.5.4.2.1 Market Dynamics
- 5.3.5.4.2.2 Sizing and Forecast Analysis
- 5.3.5.4.2.2.1 China Next-Generation Oncology Devices and Solutions Market (by Clinical Application)
- 5.3.5.4.2.2.2 China Next-Generation Oncology Devices and Solutions Market (by End User)
- 5.3.5.4.3 Australia
- 5.3.5.4.3.1 Market Dynamics
- 5.3.5.4.3.2 Sizing and Forecast Analysis
- 5.3.5.4.3.2.1 Australia Next-Generation Oncology Devices and Solutions Market (by Clinical Application)
- 5.3.5.4.3.2.2 Australia Next-Generation Oncology Devices and Solutions Market (by End User)
- 5.3.5.4.4 India
- 5.3.5.4.4.1 Market Dynamics
- 5.3.5.4.4.2 Sizing and Forecast Analysis
- 5.3.5.4.4.2.1 India Next-Generation Oncology Devices and Solutions Market (by Clinical Application)
- 5.3.5.4.4.2.2 India Next-Generation Oncology Devices and Solutions Market (by End User)
- 5.3.5.4.5 South Korea
- 5.3.5.4.5.1 Market Dynamics
- 5.3.5.4.5.2 Sizing and Forecast Analysis
- 5.3.5.4.5.2.1 South Korea Next-Generation Oncology Devices and Solutions Market (by Clinical Application)
- 5.3.5.4.5.2.2 South Korea Next-Generation Oncology Devices and Solutions Market (by End User)
- 5.3.5.4.6 Rest-of-Asia-Pacific
- 5.3.5.4.6.1 Market Dynamics
- 5.3.5.4.6.2 Sizing and Forecast Analysis
- 5.3.5.4.6.2.1 Rest-of-Asia-Pacific Next-Generation Oncology Devices and Solutions Market (by Clinical Application)
- 5.3.5.4.6.2.2 Rest-of-Asia-Pacific Next-Generation Oncology Devices and Solutions Market (by End User)
- 5.4 Rest-of-the-World Next-Generation Oncology Devices and Solutions Market
- 5.4.1 Key Findings and Opportunity Assessment
- 5.4.2 Regulatory Framework
- 5.4.3 Key Players in Rest-of-the-World
- 5.4.4 Market Dynamics
- 5.4.5 Sizing and Forecast Analysis
- 5.4.5.1 Rest-of-the-World Next-Generation Oncology Devices and Solutions Market (by Clinical Application)
- 5.4.5.2 Rest-of-the-World Next-Generation Oncology Devices and Solutions Market (by End User)
- 5.4.5.3 Rest-of-the-World Next-Generation Oncology Devices and Solutions Market (by Type)
- 5.4.5.3.1 Rest-of-the-World Next-Generation Oncology Devices and Solutions Market, Devices (by Technology)
- 5.4.5.3.2 Rest-of-the-World Next-Generation Oncology Devices and Solutions Market, Device (by Application)
- 5.4.5.3.3 Rest-of-the-World Next-Generation Oncology Devices and Solutions Market, Software (by Application)
- 5.4.5.4 Rest-of-the-World Next-Generation Oncology Devices and Solutions Market (by Country)
- 5.4.5.4.1 Kingdom of Saudi Arabia (K.S.A.)
- 5.4.5.4.1.1 Market Dynamics
- 5.4.5.4.1.2 Sizing and Forecast Analysis
- 5.4.5.4.1.2.1 K.S.A. Next-Generation Oncology Devices and Solutions Market (by Clinical Application)
- 5.4.5.4.1.2.2 K.S.A. Next-Generation Oncology Devices and Solutions Market (by End User)
- 5.4.5.4.2 Brazil
- 5.4.5.4.2.1 Market Dynamics
- 5.4.5.4.2.2 Sizing and Forecast Analysis
- 5.4.5.4.2.2.1 Brazil Next-Generation Oncology Devices and Solutions Market (by Clinical Application)
- 5.4.5.4.2.2.2 Brazil Next-Generation Oncology Devices and Solutions Market (by End User)
- 5.4.5.4.3 U.A.E.
- 5.4.5.4.3.1 Market Dynamics
- 5.4.5.4.3.2 Sizing and Forecast Analysis
- 5.4.5.4.3.2.1 U.A.E. Next-Generation Oncology Devices and Solutions Market (by Clinical Application)
- 5.4.5.4.3.2.2 U.A.E. Next-Generation Oncology Devices and Solutions Market (by End User)
- 5.4.5.4.4 Mexico
- 5.4.5.4.4.1 Market Dynamics
- 5.4.5.4.4.2 Sizing and Forecast Analysis
- 5.4.5.4.4.2.1 Mexico Next-Generation Oncology Devices and Solutions Market (by Clinical Application)
- 5.4.5.4.4.2.2 Mexico Next-Generation Oncology Devices and Solutions Market (by End User)
- 5.4.5.4.5 Rest-of-Rest-of-the-World
- 5.4.5.4.5.1 Market Dynamics
- 5.4.5.4.5.2 Sizing and Forecast Analysis
- 5.4.5.4.5.2.1 Rest-of-Rest-of-the-World Next-Generation Oncology Devices and Solutions Market (by Clinical Application)
- 5.4.5.4.5.2.2 Rest-of-Rest-of-the-World Next-Generation Oncology Devices and Solutions Market (by End User)
6 Markets - Competitive Benchmarking
- 6.1 Competitive Landscape
- 6.1.1 Key Strategies and Developments
- 6.1.1.1 Regulatory and Legal Activities
- 6.1.1.2 Partnerships, Alliances, and Business Expansions
- 6.1.1.3 New Offerings
- 6.1.1.4 Mergers and Acquisitions
- 6.1.1.5 Funding Activities
- 6.2 Market Share Analysis