Interventional Radiology Products Market Is Anticipated To Grow Further Till USD 19.5 Billion By 2031

Market Definition

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.

Market Outlook

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).

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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Research Objectives

Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
Identify factors influencing market growth and challenges, opportunities, drivers and restraints
Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.

Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives

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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.

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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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Research Scope

Scope - Highlights, Trends, Insights. Attractiveness, Forecast
Market Sizing - Product Type, End User, Offering Type, Technology, Region, Country, Others
Market Dynamics - Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
Business Framework - Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
Competitive Landscape - Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
Company Profiles - Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
Market Size in 2021 - US$ 10.2Billion
Market Size in 2031 - US$ 15.5Billion
CAGR % - 6.7
Historic Period - 2015-2020
Forecast Period - 2022-2031
Base Year - 2021

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