The global interventional radiology market will be driven by increasing technological advancements and increasing aging population during the forecast period 2021-2026

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Expert Market Research’s new report titled “Global Interventional Radiology Market Report and Forecast 2021-2026′, gives an in-depth analysis of the global Interventional Radiology market, assessing the market based on its segments such as procedure, product, application, and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.

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Key highlights of the report include:

Market Overview (2016-2026):

  • Historical market size (2020): 20 billion USD
  • Forecast CAGR (2021-2026): 6.5%
  • Forecasted market size (2026): 29.5 billion USD

The major factors driving the growth of the market are the increasing technological advancements that result in the availability of advanced diagnostic and imaging techniques along with the numerous benefits associated with this medical field such as cost effectiveness and a time to recuperate faster, which are extremely important for global geriatrics. population. The increasing levels of patient concern about radiation exposure associated with the use of these devices, combined with the high costs associated with this equipment, are significant constraints for the interventional radiology industry.

Industry definition and major segments

Interventional radiology is a medical discipline that focuses on the diagnosis and treatment of patients using minimally invasive image-guided techniques. In this medical specialty, radiological guidance systems and instruments such as X-rays, MRIs, CT scans, fluoroscopy, and other modalities are used. The most common interventional radiological procedures performed using these techniques are for the evaluation of any underlying conditions the patient might have that can be visualized through photographs.

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According to the procedure, the interventional radiology market can be divided into:

  • Angioplasty
  • Angiography
  • Biopsy and drainage
  • Embolization
  • Thrombolysis
  • Vertebroplasty
  • Nephrostomy
  • Others

Based on product, the interventional radiology market can be divided into:

  • MRI systems
  • Ultrasound Imaging Systems
  • CT scanners
  • Angiography systems
  • Fluoroscopy systems
  • Biopsy devices
  • Others

The interventional radiology market can be broadly classified based on its applications into:

  • Cardiology
  • Urology and Nephrology
  • Oncology
  • Gastroenterology
  • Others

Based on regional markets, the industry is divided into:

1 North America
1.1 United States of America
1.2 Canada
2Europe
2.1 Germany
2.2 United Kingdom
2.3France
2.4 Italy
2.5 Others
3 Asia-Pacific
3.1 China
3.2 Japan
3.3 India
3.4 ASEAN
3.5 Others
4 Latin America
4.1 Brazil
4.2 Argentina
4.3 Mexico
4.4 Others
5 Middle East and Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.3 Nigeria
5.4 South Africa
5.5 Others

Market trends

The demand is driven by the growing trend of minimally invasive procedures, which are more cost effective and require less hospitalization. Patients are treated quickly using minimally invasive procedures and are normally discharged from the hospital the same day. The majority of these procedures require the use of imaging equipment. The interventional radiology market is driven by advances in imaging technology, which provide surgeons with real-time images to show a detailed view of internal organs during diagnosis. Augmented reality and artificial intelligence are two major areas of progress. Unlike virtual reality, which allows doctors to see no real image in their field of vision, augmented reality allows them to move objects (scopes and devices) around the body and communicate with its environment. Image-driven approaches will benefit from this complex growth in several ways. Artificial intelligence detects flaws and irregularities in medical images such as CT scans and X-rays using complex algorithms. Due to the existing large-scale healthcare infrastructure in North America, as well as numerous market players and authorities focused on implementing advanced therapeutic and diagnostic technologies in their regions, the Asia-Pacific region will hold the largest market share for interventional radiology.

Main market players

Major market players include Carestream Health, Esaote SPA, GE Healthcare, Hitachi Medical Corporation, Hologic Inc. (NASDAQ: HOLX), Koninklijke Philips NV, Shimadzu Corporation, Siemens AG, Toshiba Medical Systems Corporation, Samsung Medison, among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.

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