Local firms accelerate in oncology track

According to the data of National Cancer Center, in 2022, there will be 4,824,700 new cases of cancer and 2,574,200 deaths in China. Stimulated by the high population base and aging trend, the demand for cancer treatment remains high, and Chinese doctors and patients are still facing a tough fight against cancer.

Advances in medical technology have provided new solutions for tumor diagnosis and treatment. Among them, minimally invasive interventional therapy, after decades of development, has gradually become another pillar therapy for tumors after medical treatment, surgical treatment and radiotherapy, and has been widely applied to benign and malignant tumors of liver, lung, kidney, thyroid, breast, bone, gynecology, pancreas and other substantial organs.

In recent years, the development of ablation technology in the field of oncology interventional therapy has advanced by leaps and bounds, opening up new possibilities for tumor treatment.According to GrandViewResearch, the global tumor ablation market size was approximately $16.7 billion in 2023, and it is expected to grow at a CAGR of 13.5% from 2024 to 2030.

The growth prospects of China‘s tumor ablation market are equally promising. According to Frost & Sullivan, the market size of China‘s tumor ablation industry (based on the price charged by hospitals) increased from 1.88 billion yuan to 3.92 billion yuan from 2016 to 2021. It is expected to reach 15.58 billion yuan in 2026, with a CAGR of 34.7% from 2022-2026.

However, from an overall perspective, compared with the mature markets in Europe and the United States, there is still a significant gap in the penetration rate of minimally invasive tumor intervention in China, and the regional development is not balanced, there is a relative lack of clinical talent, and there is a long way to go for the promotion of new technologies and market cultivation.2021, the national level launched the action plan for the improvement of the quality of oncology diagnosis and treatment, which called for the strengthening of the construction of the oncology service system and the construction of the human resources, the optimization of the oncology diagnostic and treatment mode, and the improvement of oncology diagnostic capacity..

(Excerpted from:YaoZh.com)