The 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.
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.
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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.
Market Restraints and Challenges
Many emerging and underdeveloped nations, like Afghanistan, Bhutan, South Africa, India, and Nepal, lack centralized insurance systems and have greater out-of-pocket expenses. This affects the use of expensive therapeutic methods. For instance, a drug-eluting stent might cost anywhere from USD 600 to USD 2,791 in India, according to the Journal of the American Heart Association. The adoption of cutting-edge medical techniques is predicted to be hampered by the high cost of goods and the absence of a clear health insurance system in emerging nations.
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Global Interventional Radiology Products Market Segmentation
By Type
- Catheters
- Stents
- Inferior Vena Cava (IVC) Filters
- Hemodynamic Flow Alteration Devices
- Angioplasty Balloons
- Thrombectomy Systems
- Embolization Devices
By Procedure
- Angioplasty
- Angiography
- Embolization
- Thrombolysis
- Biopsy & Drainage
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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