Interventional radiology products play a pivotal role in minimally invasive medical procedures. They are employed in various applications, including angioplasty, embolization, and stent placement. The key features of interventional radiology products include precise imaging capabilities, real-time visualization, and the use of catheters for accessing internal areas without surgery. These products enable treatments for vascular conditions, such as blocked arteries, as well as tumor ablations and biopsies. Interventional radiology products offer less risk, reduced pain, shorter recovery times, and enhanced patient outcomes, making them indispensable in modern medical practice.
According to Data Bridge Market Research, the Global Interventional Radiology Products Market is expected to grow with a CAGR of 6.60% in the forecast period of 2022 to 2029.
“Increasing prevalence of chronic diseases boosts the market’s growth”
The interventional radiology products market is experiencing substantial growth due to the increasing prevalence of chronic diseases. These diseases often require minimally invasive procedures, such as angioplasty or embolization, for diagnosis and treatment. Interventional radiology techniques, which offer precision and reduced recovery times, are in high demand for managing conditions such as cardiovascular diseases and cancer. As the global burden of chronic diseases continues to rise, the demand for interventional radiology products is growing, propelling market expansion in the healthcare sector.
What restraints the growth of the global interventional radiology products market?
“Elevated costs linked with digital radiology devices restraints the market’s growth”
The expansion of the interventional radiology products market encounters a significant obstacle due to the elevated costs linked with digital radiology devices. These devices are indispensable in interventional radiology procedures but come with substantial expenses, including equipment acquisition and software integration, as well as ongoing maintenance. Such financial outlays can create challenges, especially in healthcare settings with limited resources.
Segmentation: Global Interventional Radiology Products Market
The global interventional radiology products market is segmented on the basis of type, application, and end user.
- On the basis of type, the interventional radiology products market is segmented into stents, catheters, inferior vena cava (IVC) filters, embolization devices, thrombectomy systems, angioplasty balloons, biopsy needles, hemodynamic flow alteration devices, accessories, and other.
- On the basis of application, the interventional radiology products market is segmented into cardiology, oncology, gastroenterology, neurology, orthopedics, urology nephrology and, others.
- On the basis of end user, the interventional radiology products market is segmented into hospitals, clinics, and home care settings.
Regional Insights: North America dominates the Global Interventional Radiology Products Market
North America dominates the interventional radiology products market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029 due to growth in the interventional radiology products market in this region is attributed to the strong presence of major key players and a well-established healthcare infrastructure. These factors contribute to advanced medical technologies and easier market access, fostering market growth and innovation in interventional radiology products.
Asia-Pacific on the other hand is projected to exhibit the highest growth rate during the forecast period due to the growing elderly population and a surge in chronic illnesses. With an aging demographic and higher instances of long-term health conditions, there's an increased need for interventional radiology procedures, driving market growth to meet healthcare demands effectively.
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The Prominent Key Players Operating in the Global Interventional Radiology Products Market Include:
- Boston Scientific Corporation (U.S.)
- Abbott (U.S.)
- Cardinal Health (U.S.)
- Cook (U.S.)
- Stryker (U.S.)
- B. Braun Melsungen AG (Germany)
- Terumo Corporation (Japan)
- 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 (U.S.)
- Agfa-Gevaert Group (Belgium)
- Teleflex Incorporated (U.S.)
- Analogic Corporation (U.S.)
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China)
- Trivitron Healthcare (India)
- Toshiba International Corporation (Japan)
- FUJIFILM Holdings Corporation (Japan)
Above are the key players covered in the report, to know about more and exhaustive list of global interventional radiology products market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Interventional Radiology Products 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.
