Interventional Radiology Market | Wide Application Area of Interventional Radiology Systems Drive the Growth - TMR Study

Increase in the adoption of advanced technologies in the global healthcare industry is expected to drive growth opportunities in the global interventional radiology market

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Wilmington, Delaware, United States, Oct. 20, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc.The global interventional radiology market is prognosticated to grow at a CAGR of 5.2% during the forecast period, from 2019 to 2027. The total value of the market was US$ 16.36 Bn in 2018, state analysts at TMR.

Interventional radiology is being utilized in various areas in the healthcare industry such as the angioplasty & stent placement, angiography, balloon angioplasty, vertebroplasty-kyphoplasty, and cancer. As per the Journal of American College of Cardiology, imaging technologies are being used in 70% of coronary angioplasties carried out globally. Thus, a surge in the technology application globally is driving the growth prospects in the interventional radiology market, note researchers of a TMR review.

Leading companies operating in the global interventional radiology market are focusing on varied strategies such as acquisitions, collaborations, regulatory approvals, and new product launches in order to stay ahead of the competition. Moreover, several players are investing sizable amounts in product innovations. Such initiatives are likely to help in the overall growth of the global interventional radiology market during the forecast period, notes an assessment by TMR.

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The interventional radiology market is prognosticated to gain notable growth prospects in North America during the forecast period. The growth of the North America market is ascribed to many factors including the presence of sturdy healthcare infrastructure and surge in the prevalence of several severe diseases such as cancer in the region.

Interventional Radiology Market: Key Findings

  • Interventional radiology includes the utilization of medical imaging technology in order to study internal parts of the body. It also includes the use of minimally invasive methods for the diagnosis and treatment of several health disorders including cancer. Hence, rise in the number of patients suffering from cancer is expected to help in the expansion of the global interventional radiology market share during the forecast period.
  • The government authorities of several developing and developed nations around the world including Sweden, the U.S., India, and Norway are promoting the use of more effectual interventional radiology methodologies in the cancer diagnosis. Such factors are creating notable business opportunities in the market, states interventional radiology market report by TMR.
  • Over the period of past few years, there has been a surge in the adoption of latest technologies including fractional flow reserve (FFR) and optical coherence tomography (OCT) technology for stenting patients suffering from multi-vessel disease. Such factors are expected to lead to lucrative opportunities, notes a TMR’s global analysis of interventional radiology market.
  • The prevalence of cardiology disorders is being rising globally in the recent years. For instance, the 2018 statistics published by American Heart Association notes that approximately 92.1 million adults in the U.S. were suffering from cardiovascular diseases or after-effects of stroke. Such statistics denote that the market is expected to observe substantial rise in the demand for interventional radiology devices across the globe, states a TMR study.

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Interventional Radiology Market: Growth Boosters

  • Increase in the cases of cardiovascular disorders and cancer globally is expected to drive the interventional radiology market size
  • Rise in the adoption of technological advancements in the healthcare industry is fueling the growth in the market

Interventional Radiology Market: Key Players

Some of the key players profiled in the report are:

  • FUJIFILM Holdings Corporation
  • Agfa-Gevaert Group.
  • Hitachi Medical Corporation
  • GE Healthcare
  • Medtronic, Inc.
  • Hologic, Inc.
  • N.V., Siemens
  • Koninklijke Philips
  • CANON MEDICAL SYSTEMS CORPORATION
  • Teleflex Incorporated

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Interventional Radiology Market Segmentation

Product

  • X-ray
  • Computed Tomography (CT)
  • Magnetic Resonance Imaging (MRI)
  • Ultrasound

Application

  • Angiography
  • Balloon Angioplasty
  • Embolization
  • Biopsy
  • Vertebroplasty-Kyphoplasty
  • RF Ablation
  • Others

End-user

  • Hospitals
  • Catheterization Labs
  • Ambulatory Surgical Centers
  • Others

Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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