The Global interventional radiology market size was USD 25.10 Billion in 2021 and is expected to register a revenue CAGR of 5.1% over the forecast period, according to the latest report by Reports and Data. Market revenue growth is primarily driven by growing technological innovation in radiology services by major players along with rising demand for Magnetic Resonance Imaging (MRI) and Computed Tomography (CT) scans.
The inclination of consumers is evolving away from surgical treatments and toward less intrusive therapeutic approaches. Bowel blockage, band slippage, nausea and vomiting, and gallstones are a few of the possible dangers associated with surgery. Another aspect influencing revenue growth is the investment made by businesses in Research and Development (RD) projects, product developments, new product launches, collaborations, and mergers and acquisitions along with the use of various technologies, such as artificial intelligence in interventional radiology is also driving market revenue growth. However, factors such as high costs of availing these services and a shortage of skilled healthcare personnel limit revenue growth of the interventional radiology market during the forecast period.
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Some Key Highlights From the Report
Inferior Vena Cava (IVC) filters segment accounted for the largest revenue share in 2021. IVC filters are increasingly being used to avoid pulmonary embolism as the incidence of Deep Vein Thrombosis (DVT) rises as a result of variables such as obesity, cancer therapy, recent surgery, and pregnancy among others. The Centers for Disease Control and Prevention estimate that every year, about 900,000 Americans could be affected by DVT. Rising consciousness regarding DVT has eventually increased the revenue growth of the segment.
The Computed Tomography (CT) scan segment is expected to experience a significant revenue growth rate over the forecast period. A Computed Tomography (CT) scan is a painless, non-invasive procedure that is typically used to evaluate virtually every part of the body and find any abnormalities (if any). The first choice of doctors to find any disease in the body is a CT scan as it is less expensive and produces accurate scan results quickly.
The cardiology segment is expected to experience a major revenue share over the forecast period. Medical professionals utilize cardiovascular imaging to diagnose heart issues, assess whether a heart attack happened and the extent of the damage, pinpoint the cause of symptoms such as chest discomfort and shortness of breath, and evaluate the heart to see if therapies are having the desired results. With the aid of cardiac imaging, heart disorders such as arrhythmia, heart attacks, heart failure, heart valve dysfunction, pericardial disease, or disorder of the heart lining, as well as pediatric and congenital heart conditions, can be easily identified and treated with cardiology. Increasing number of patients suffering from heart diseases globally has resulted in significant revenue growth in this segment.
North America is expected to register a significant revenue share in the global market over the forecast period. The rising prevalence of various diseases ultimately increases the need for early detection and effective treatment. It is frequently employed in early diagnosis of several cancers. According to data from the American Cancer Society, there might be 1.9 million new cancer diagnoses and 609,360 cancer-related deaths in the U.S. in 2022, translating to an average of 1,670 fatalities each day.
Statistical Analysis:
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Key Players covered in this report are
Koninklijke Philips N.V., General Electric Company, Hitachi, Ltd., Fujifilm Corporation, Toshiba International Corporation, Esaote spa, Siemens Healthcare GmbH, Samsung Medison Co., Ltd., Canon Medical Systems Corporation, and Medtronic.
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Technology Outlook (Revenue, USD Billion; 2019-2030)
Catheters
Inferior Vena Cava (IVC) Filters
Angioplasty Balloons
Embolization Devices
Others
End-Use Outlook (Revenue, USD Billion; 2019-2030)
Hospitals
Clinics
Outpatient surgery centers
Others
Procedure Outlook (Revenue, USD Billion; 2019-2030)
Angiography
Thrombolysis
Embolization
Angioplasty
Others
Product Outlook (Revenue, USD Billion; 2019-2030)
Magnetic Resonance Imaging (MRI)
Angiography Systems
Ultrasound Imaging
Others
Application Outlook (Revenue, USD Billion; 2019-2030)
Cardiology
Oncology
Urology and Nephrology
Gastroenterology
Others
Geographic Segment Covered in the Report:
The Interventional Radiology report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.
North America (USA and Canada)
Europe (UK, Germany, France and the rest of Europe)
Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
Latin America (Brazil, Mexico, and the rest of Latin America)
Middle East and Africa (GCC and rest of the Middle East and Africa)
Major Points covered in this report are as below:
• The Interventional Radiology industry development trends and marketing channels are analyzed. The feasibility of new investment projects are assessed and overall research conclusions offered.
• With the tables and figures, the report provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.
• Development policies and plans, manufacturing processes and cost structures are also analyzed. This report also states import/export consumption, supply and demand figures, cost, price, revenue and gross margins.
• The Interventional Radiology Market report provides key statistics on the market status of the Interventional Radiology manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
We can also provide the customized data for separate regions like North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Singapore, Rest of Asia-Pacific, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Central South America, Brazil, Argentina, Rest of South America, Middle East Africa, Saudi Arabia, Turkey, Rest of Middle East Africa
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