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Interventional Radiology Products Market Current Scenario with Future Aspect Analysis
According to the latest research by InsightAce Analytic, the global Interventional Radiology Products Market Size is valued at 20.5 Billion in 2022 and is predicted to reach 36.9 Billion by the year 2031 at a 6.9 % CAGR during the forecast period for 2023-2031.
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Interventional radiology employs minimally invasive, image-guided procedures to diagnose and treat patients, utilizing radiological systems such as X-ray, MRI, CT, and fluoroscopy. This field-often referred to as vascular and interventional radiology (VIR)-relies on advanced imaging to reveal underlying conditions, enabling targeted therapeutic interventions.
The growing prevalence of chronic diseases such as cancer and cardiovascular disorders is a major driver of market growth. As patient demand shifts toward minimally invasive procedures, the need for advanced imaging modalities (e.g., CT scans, MRIs, and ultrasounds) is increasing, further spurring market expansion. Additionally, the rising focus on developing smart, digital inhalers and other innovative drug delivery systems is enhancing the overall portfolio of interventional radiology products.
Other factors contributing to market growth include increased urbanization, evolving lifestyles, and higher disposable incomes in both developing and developed countries, which support greater demand for advanced healthcare technologies. Moreover, a growing elderly population and favorable reimbursement policies are expected to further boost the market for
interventional radiology products.
North America is anticipated to be the major contributor to the interventional radiology products market over the forecast years. 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. In addition, the Asia Pacific interventional radiology products market is expected to grow significantly during the forecast period. The presence of emerging economies like China, India, and South Korea, rising chronic disease prevalence, rising demand for high-quality healthcare, increasing healthcare spending and government initiatives, rising disposable income, expansion of the medical device industries, and improvements in healthcare infrastructure in Southeast Asian nations are the main factors propelling the market's development in the Asia Pacific region.
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Major market players operating in the Interventional Radiology Products market include
Biosensors International Group, Ltd. (Singapore), Teleflex Incorporated (US), vascular S.L.U. (Spain), Penumbra, Inc. (the US), BIOTRONIK SE & Co. KG (Germany), ENDOCOR GmbH (Germany), 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), Meril Life Sciences Pvt. Ltd. (India), Palex Medical (Spain), UreSil, LLC (US), Alvimedica (Turkey), Cardionovum GmbH (Germany), SMT (India), Medinol Ltd. (Israel), Comed B.V. (Netherlands), SCITECH (Brazil), Balton Sp. z o.o. (Poland), Rontis (Switzerland) and other prominent players
Recent collaborations and agreements in the market:
• In 2021, the radial artery access portfolio was purchased by Medtronic (Ireland) from RIST Neurovascular, Inc. (US). The company's product line in the market for interventional radiology goods was widened by this acquisition, which also improved its capacity to assist patients who require interventional neurovascular therapy.
• In 2020, by acquiring Farapulse, Inc. (US), Boston Scientific Corporation (US) will increase its product offerings in the market for interventional radiology devices.
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Market Segments
Global Interventional Radiology Products Market, by Type, 2022-2030 (Value US$ Mn)
• Catheters
• Stents
• Inferior Vena Cava (IVC) Filters
• Hemodynamic Flow Alteration Devices
• Angioplasty Balloons
• Thrombectomy Systems
• Embolization Devices
• Biopsy Needles
• Accessories
• Other Interventional Radiology Products
Global Interventional Radiology Products Market, by Applications, 2022-2030 (Value US$ Mn)
• Cardiology
• Urology & Nephrology
• Oncology
• Gastroenterology
• Neurology
• Orthopedics
• Other Applications
Global Interventional Radiology Products Market, by Region, 2022-2030 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Interventional Radiology Products Market, by Country, 2022-2030 (Value US$ Mn)
• U.S.
• Canada
Europe Interventional Radiology Products Market, by Country, 2022-2030 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Interventional Radiology Products Market, by Country, 2022-2030 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Interventional Radiology Products Market, by Country, 2022-2030 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Interventional Radiology Products Market, by Country, 2022-2030 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa
Why should buy this report:
To receive a comprehensive analysis of the prospects for the global interventional radiology products market
To receive an industry overview and future trends of the interventional radiology products market
To analyze the interventional radiology products market drivers and challenges
To get information on the interventional radiology products market value (US$Mn) forecast to 2030
Significant investments, mergers & acquisitions in the interventional radiology products market industry
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