Oncology Devices Market to Surge USD 776.3 Billion at 17.84% CAGR by 2034

Ottawa, Nov. 25, 2025 (GLOBE NEWSWIRE) -- The global oncology devices market size was valued at USD 150.35 billion in 2024 and is predicted to hit around USD 776.3 billion by 2034, rising at a 17.84% CAGR, a study published by Towards Healthcare a sister firm of Precedence Research.

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Key Takeaways

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Phenomenal Digitalization Efforts: What are the Impactful Aspects of the Oncology Devices?

The possession of specialized medical tools and equipment employed for the screening, diagnosis, treatment, and monitoring of cancer is referred to as the oncology devices market. The contribution of significant catalysts, such as a rise in the demand for early detection, the integration of AI and digital health, and accelerated R&D investment, is assisting the overall market expansion.

Novelty, like adaptive radiation therapy (ART), fosters the application of AI integration with imaging for adaptation of the treatment strategies in real-time during each session, attributed to tumor and organ movement to spare healthy tissue. However, the Ethos machine employs AI-assisted image segmentation and surface motion sensors for on-couch adaptive treatment delivery.

What are the Pivotal Drivers in the Oncology Devices Market?

The globally rising geriatric population and the growth of diverse cancer cases are encouraging the adoption and preference for minimally invasive procedures, like interventional oncology techniques, which need specialized devices. Moreover, robust government initiatives and impactful reimbursement scenarios, combined with private funding for cancer treatment, especially in emerging countries, are supporting prospective developments.

What are the Key Trends in the Oncology Devices Market?

What is the Emerging Challenge in the Oncology Devices Market?

The rising need for higher spending on research, development, and production of sophisticated oncology devices is creating a major hurdle to the overall progression. Also, an accelerating use of connected devices, AI, and cloud connectivity are boosting issues regarding data protection, cybersecurity, and the secure storage of huge datasets from various sources.

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Regional Analysis

How did North America Hold a Major Share of the Market in 2024?

In 2024, North America captured the biggest revenue share of the market. Specifically, the US and Canada are facing a huge burden of an ageing population, which is highly prone to cancer. Alongside, the region is bolstering strong and well-developed healthcare systems through wider investments. Whereas, the researchers are promoting the use of focused ultrasound devices to interrupt the blood-brain barrier and nanoparticle delivery systems to engineer encapsulated chemotherapy drugs.

For instance,

Why did the Asia Pacific Expand Notably in the Oncology Devices Market?

In the upcoming era, the Asia Pacific is anticipated to witness rapid growth in the market. A vast growth in instances of different cancers is encouraging a significant enhancement in sequencing speed, accuracy, and data analytics for molecular diagnostic devices, which ultimately promotes tailored medicine solutions. Recently, Chinese researchers established small, developed "nano-robots" to target and tag tumor cells for destruction by the immune system.

For instance,

Segmental Insights

By device & product type analysis

What Made the Radiation Therapy Systems Segment Dominant in the Market in 2024?

In 2024, the radiation therapy systems segment held the biggest share of the oncology devices market. A prominent benefit of these types is that they can be utilized on their own or in combination with surgery, chemotherapy, or immunotherapy for a more comprehensive treatment plan. Besides this, recent developments include Intensity-Modulated Radiation Therapy (IMRT) and Image-Guided Radiation Therapy (IGRT), and Stereotactic Body Radiation Therapy (SBRT) and Stereotactic Radiosurgery (SRS).

Although the diagnostic imaging systems segment is predicted to expand rapidly. Eventual use of MRI and PET scans assists doctors in differentiating between malignant and benign progressions and defining the precise location for biopsies. The emergence of photon-counting CT technology facilitates greater spatial resolution and further enables effective tissue characterization and the probable of lower-dose, high-quality imaging, with enhanced detection of small lesions.

By clinical application/indication analysis

How did the Solid Tumor External Radiation Segment Lead the Market in 2024?

The solid tumor external radiation segment registered dominance with a major share of the oncology devices market in 2024. This primarily emphasizes real-time image guidance, adaptive planning, and new delivery techniques, such as AI integration. Ongoing efforts are shifting towards MRI-LINAC integrating with MRI and linear accelerators for real-time visualization, which enables daily plan adjustments and more accurate targeting while lowering risk to healthy tissue.

Whereas the interventional oncology segment is estimated to register the fastest growth. Prospective expansion will be fueled by the rise in breakthroughs in image-guided systems, novel embolic agents for more targeted therapies, and more precise ablation technologies. Transformation of transarterial radioembolization (TARE), or selective internal radiation therapy (SIRT), involves widely use of radioactive microspheres to target and destroy tumors, specifically in the liver.

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By procedure type/care pathway analysis

How did the Curative/Definitive External Beam Radiation Procedures Segment Dominate the Market in 2024?

The curative/definitive external beam radiation procedures segment was dominant in the oncology devices market in 2024. Usually, patients choose non-surgical, non-invasive treatments, such as EBRT, with minimal physical distress, fewer difficulties, shorter hospital stays, and rapid recovery times. Exploration of carbon ion therapy gives increased biological efficiency than protons for particular radioresistant cancers, like sarcomas, and some head and neck cancers.

However, the oncologic surgeries segment is predicted to expand rapidly. Specifically, the globe is stepping into organ preservation surgery, which further emphasizes the removal of only the cancerous part of an organ, often after pre-operative therapy. To cater for the surgical effectiveness, doctors are employing sentinel lymph node biopsy to determine and remove only the initial lymph nodes draining a tumor to study cancer spread, probably omitting more rigorous lymph node removal.

By end-user/buyer analysis

Which End-User/Buyer Led the Oncology Devices Market in 2024?

In 2024, the hospitals & comprehensive cancer centers segment captured the dominating share of the market. They are widely focusing on the adoption of highly sophisticated radiation therapy systems (MR-Linac, Ethos), robotic surgical systems (Da Vinci X), and newer diagnostic tools (liquid biopsies, AI-assisted imaging platforms). An FDA-approved Hepzato Kit (melphalan for injection/hepatic delivery system) is a device-drug combination used for metastatic uveal melanoma in the liver.

Moreover, the ambulatory surgical centers (ASCs) & outpatient oncology clinics segment will expand rapidly. Along with cost-effectiveness and patient convenience, these end-users are spurring the adoption of innovative techniques, like laparoscopic devices, which are long, thin tubes with a camera and instruments to access cancerous tissues through small incisions. As well as they are leveraging robust infusion pumps for the controlled, continuous, or intermittent delivery of chemotherapy drugs or pain medication.

What are the Recent Developments in the Oncology Devices Market?

Strategic Framework of Elekta, the Leading Oncology Devices Company

Browse More Insights of Towards Healthcare:

The global oncology drugs market size is estimated at US$ 204.39 billion in 2024, is projected to grow to US$ 217.18 billion in 2025, and is expected to reach around US$ 360.79 billion by 2034. The market is projected to expand at a CAGR of 6.29% between 2025 and 2034.

The global oncology API market size is calculated at USD 41.79 billion in 2024, grew to USD 43.95 billion in 2025, and is projected to reach around USD 69.55 billion by 2034. The market is expanding at a CAGR of 5.24% between 2025 and 2034.

The global oncology biomarker market size is calculated at US$ 34.16 billion in 2024, grew to US$ 38.62 billion in 2025, and is projected to reach around US$ 113.54 billion by 2034. The market is expanding at a CAGR of 12.73% between 2025 and 2034.

The oncology drug discovery market is poised for significant expansion from 2024 to 2034, driven by rapid advancements in precision medicine, AI-enabled drug development, and a growing pipeline of targeted therapies.

The global oncology automation market size is calculated at US$ 2.82 billion in 2024, grew to US$ 3.12 billion in 2025, and is projected to reach around US$ 7.77 billion by 2034. The market is expanding at a CAGR of 10.68% between 2025 and 2034.

The global oncology NGS market size was calculated at US$ 508.95 million in 2024, grew to US$ 589.01 million in 2025, and is projected to reach around US$ 2,193.49 million by 2034. The market is expanding at a CAGR of 15.73% between 2024 and 2034.

The global oncology clinical trial market size recorded US$ 13.64 billion in 2024, set to grow to US$ 14.36 billion in 2025 and projected to hit nearly US$ 22.85 billion by 2034, with a CAGR of 5.30% throughout the forecast timeline.

The global oncology molecular diagnostics market size is calculated at USD 3.11 billion in 2024, grew to USD 3.48 billion in 2025, and is projected to reach around USD 9.76 billion by 2034. The market is expanding at a CAGR of 12.13% between 2025 and 2034.

The global oncology companion diagnostic market size is calculated at USD 5.24 in 2024, grew to USD 5.7 billion in 2025, and is projected to reach around USD 12.07 billion by 2034. The market is expanding at a CAGR of 8.73% between 2025 and 2034.

The global oncology biosimilars market size is calculated at US$ 6.7 billion in 2024, grew to US$ 7.94 billion in 2025, and is projected to reach around US$ 36.23 billion by 2034. The market is expanding at a CAGR of 18.47% between 2025 and 2034.

Oncology Devices Market Key Players List

Segments Covered in the Report

By Device & Product Type

By Clinical Application/Indication

By Procedure Type/Care Pathway

By End-User/Buyer

By Region

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Towards Healthcare is a leading global provider of technological solutions, clinical research services, and advanced analytics, with a strong emphasis on life science research. Dedicated to advancing innovation in the life sciences sector, we build strategic partnerships that generate actionable insights and transformative breakthroughs. As a global strategy consulting firm, we empower life science leaders to gain a competitive edge, drive research excellence, and accelerate sustainable growth.

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