New York, Global Interventional Radiology Products Market was valued at USD 10.2 billion in 2021 and it is anticipated to grow further till USD 19.5 billion by 2031, at a CAGR of 6.7% during the forecast period.
The global interventional radiology products market report from Global Insight Services is the single authoritative source of intelligence on Interventional Radiology Products Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
In order to diagnose and treat patients, interventional radiology focuses on using minimally invasive image-guided procedures. This field of medicine makes use of radiological guidance systems and apparatus, including x-ray, MRI, CT, fluoroscopy, and other modalities. The main interventional radiological procedures performed with these techniques are for the diagnosis of any underlying disorders the patient may have, which can be identified by visualization through photographs. Vascular and interventional radiology are other names for interventional radiology (VIR).
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Market Trends and Drivers
The benefits of minimally invasive procedures over traditional open surgery techniques have led to an increase in their demand. The advantages of minimally invasive operations over traditional open surgery methods, according to the American Institute of Minimally Invasive Surgery (AIMS), include enhanced safety, lower scarring, quicker recovery, and shorter hospital stays. Due to the expanding usage of technologically sophisticated goods and methods, particularly for the treatment of peripheral artery disease, cancer, and cardiovascular disease, the application fields for minimally invasive procedures are expanding as well (PAD). This is anticipated to have a beneficial impact on the market for interventional radiology products.
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Global Interventional Radiology Products Market Segmental Overview
The report analyses the global interventional radiology products market based on the type, procedure, application, and region.
Global Interventional Radiology Products Market by Type
Based on the type, it is segmented into catheters, stents, inferior vena cava (IVC) filters, hemodynamic flow alteration devices, angioplasty balloons, thrombectomy systems, embolization devices, biopsy needles, accessories, and others. The stents segment dominated the interventional radiology products market during the forecast period. The substantial proportion of this market can be attributable to the rising incidence of cancer and heart disorders as well as the rising frequency of angioplasty surgeries worldwide.
Global Interventional Radiology Products Market by Procedure
Based on the procedure, it is segmented into angioplasty, angiography, embolization, thrombolysis, biopsy & drainage, vertebroplasty, nephrostomy, and others. The angiography segment is anticipated to dominate the market during the forecast period. The key factors such as rising prevalence of chronic diseases coupled with growing geriatric population and increasing demand for minimally invasive procedures is propelling the growth of the market.
Global Interventional Radiology Products Market by Application
Based on the application, it is segmented into cardiology, urology & nephrology, oncology, gastroenterology, neurology, orthopedics, and others. The cardiology segment to witness the highest share during the forecast period. The growing elderly population and the rising incidence of CVD around the world might be blamed for the high share of this market.
Geographical Analysis of the Global Interventional Radiology Products Market
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America is the largest regional market for interventional radiology products market. The high prevalence of chronic diseases, expanding geriatric population, rising use of minimally invasive procedures, and the presence of major players in the region can all be linked to the big proportion of the North American market.
Major Players in the Global Interventional Radiology Products Market
The key players studied in the report are Medtronic (Ireland), Boston Scientific Corporation (US), Becton, Dickinson and Company (US), Abbott (US), Cardinal Health (US), B. Braun Melsungen AG (Germany), Stryker (US), Terumo Medical Corporation (Japan), Cook Medical (US), Biosensors International Group, Ltd. (Singapore), Teleflex Incorporated (US), iVascular S.L.U. (Spain), Penumbra, Inc. (US), BIOTRONIK SE & Co. KG (Germany), and ENDOCOR GmbH (Germany) among others.
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