Interventional radiology finds versatile applications in modern medicine. It enables minimally invasive procedures for various conditions, such as vascular diseases, tumors, and pain management. Utilizing imaging guidance, interventional radiology offers precise and targeted treatments, reducing patient discomfort and recovery time. Its applications span oncology, cardiology, neurology, and more. The technique's fusion of imaging and therapy underscores its pivotal role in delivering effective and efficient medical interventions, advancing patient care across a wide spectrum of medical disciplines.
According to Data Bridge Market Research, the Global Interventional Radiology Market accounted for USD 24,979.80 million in 2021 and is expected to see a growth of USD 43,338.89 million by 2029. The market is expected to grow with a CAGR of 7.13% in the forecast period of 2022 to 2029.
“Increasing adoption of minimally invasive treatments boosts the market’s growth”
The growth of the interventional radiology market is propelled by the increasing adoption of minimally invasive treatments. These procedures offer less patient discomfort, shorter recovery times, and reduced hospital stays compared to traditional surgical methods. The demand for less invasive alternatives, especially for conditions such as cardiovascular diseases and cancer, has driven technological advancements in interventional radiology. As medical practices prioritize patient comfort and efficiency, the market is witnessing expansion due to the growing recognition and inclusion of minimally invasive interventions.
What restraints the growth of the global interventional radiology market?
“Elevated costs associated with radiological devices restraints the market’s growth”
The expansion of the interventional radiology market is hindered by the elevated costs associated with radiological devices. Cutting-edge technology and specialized equipment required for interventional procedures often come at a significant expense. This impacts healthcare providers' ability to invest in and adopt these technologies. Additionally, patients might face higher healthcare costs due to the use of advanced devices. The cost factor poses a challenge to market growth, necessitating strategies to balance innovation and affordability within the healthcare landscape.
Segmentation: Global Interventional Radiology Market
The global Interventional radiology market is segmented on the basis of technology, procedure, product, applications, and end-user.
- On the basis of technology, the Interventional radiology market is segmented into catheters, stents, inferior vena cava (IVC) filters, hemodynamic flow alteration (HFA) devices, angioplasty balloons, thrombectomy systems, embolization devices, biopsy needles, accessories, others.
- On the basis of product, the market is segmented into magnetic resonance imaging (MRI), ultrasound imaging, computed tomography (CT) scanners, angiography systems, fluoroscopy systems, biopsy devices, and others.
- On the basis of procedure, the interventional radiology market is segmented into angioplasty, angiography, biopsy and drainage, embolization, thrombolysis, vertebroplasty, nephrostomy, and others.
- On the basis of applications, the Interventional radiology market is segmented into cardiology, urology and nephrology, oncology, gastroenterology, others.
- On the basis of end- user, the market is segmented into hospitals, clinics, and home care settings.
Regional Insights: North America dominates the Global Interventional Radiology Market
North America dominates the interventional radiology market in terms of market share due to market's profitability and anticipated growth are attributed to its strong foothold in the region, supported by a well-developed healthcare infrastructure. This established foundation enables the efficient integration of advanced medical technologies and treatments, driving the market's continued dominance and expansion over the projected timeframe.
Asia Pacific region is expected to experience the highest growth rate during the forecast period of 2022 to 2029 due to the prevalence of prominent companies and government entities dedicated to embracing regional therapeutic and diagnostic advancements contributes significantly. Their commitment to adopting cutting-edge technologies fuels the growth of the sector. This concerted effort drives the successful integration and widespread implementation of innovative medical solutions within the region.
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The Prominent Key Players Operating in the Global Interventional Radiology Market Include:
- General Electric (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- Carestream Health (U.S.)
- ESAOTE SPA (Italy)
- Hitachi, Ltd. (Japan)
- Hologic, Inc. (U.S.)
- Shimadzu Corporation (Japan)
- Siemens Healthcare GmbH (Germany)
- CANON MEDICAL SYSTEMS CORPORATION (Japan)
- Samsung Medison Co., Ltd. (South Korea)
- Medtronic (Ireland)
- Agfa-Gevaert Group (Belgium)
- Teleflex Incorporated (U.S.)
- Cook (U.S.)
- Analogic Corporation (U.S.)
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China)
- Trivitron Healthcare (India)
Above are the key players covered in the report, to know about more and exhaustive list of global interventional radiology market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Interventional Radiology Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
