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Interventional Radiology Products Market Analysis Highlights North America and Asia Pacific as Key Growth Regions Through 2031
Interventional Radiology Products Market
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According to the latest research by InsightAce Analytic, the global interventional radiology products market is valued at 20.5 Billion in 2022, and it is expected to reach 36.9 Billion by the year 2031, with a CAGR of 6.9% during a forecast period of 2023-2031.
Interventional radiology is a medical specialty that utilizes minimally invasive, image-guided procedures to diagnose and treat various conditions. This discipline employs advanced radiological imaging technologies such as X-ray, magnetic resonance imaging (MRI), computed tomography (CT), and fluoroscopy to facilitate precise diagnostic and therapeutic interventions. These procedures are instrumental in identifying underlying medical conditions through real-time visualization, enabling targeted and effective treatment. The field is also commonly referred to as vascular and interventional radiology (VIR).
The global market for interventional radiology products is expected to experience significant growth, driven primarily by the increasing prevalence of chronic diseases such as cancer and cardiovascular disorders. Rising patient preference for minimally invasive treatment options is further fueling demand for imaging technologies including CT scans, MRIs, and ultrasounds. Additionally, advancements in smart medical technologies-such as digital inhalers-are contributing to the expansion of the market.
Key factors supporting this growth include the rising need for pain-free drug delivery methods and the overall increase in healthcare expenditures. Broader applications of interventional radiology techniques across various clinical settings are also expected to accelerate market development. Moreover, increasing urbanization, evolving lifestyles, and higher disposable incomes in both emerging and developed economies are contributing to the growing adoption of interventional radiology solutions.
The expanding elderly population and favorable reimbursement frameworks further enhance market potential by supporting greater accessibility and utilization of interventional radiology services.
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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.
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
Read Overview Report- https://www.insightaceanalytic.com/report/global-interventional-radiology-products-market/1269
About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
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