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.
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 Segmentation
- Inferior Vena Cava (IVC) Filters
- Hemodynamic Flow Alteration Devices
- Angioplasty Balloons
- Thrombectomy Systems
- Embolization Devices
- Biopsy Needles
- Biopsy & Drainage
- Urology & Nephrology
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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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