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Global Interventional Radiology Products Market Size was valued at USD 25.6 Billion in 2022. The Interventional Radiology Products market industry is projected to grow from USD 26.9 Billion in 2023 to USD 42.3 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.90% during the forecast period (2023 - 2032). Because chronic illnesses like cancer and cardiovascular disorders are becoming more commonplace around the world, customers are changing their preferences to less invasive procedures are the key market drivers enhancing the market growth.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
The rising prevalence of chronic diseases, such as cancer and cardiovascular issues, in the world's population will be a major driver of the market for interventional radiology products. As consumer tastes for minimally invasive procedures change, there will be a greater need for interventional radiology technologies like CT scans, MRIs, and ultrasounds, which will spur market expansion. Another significant factor fostering the expansion of the market is the increasing focus on the development of intelligent/digital inhalers. A increasing need for painless drug administration and rising healthcare costs are other factors driving market expansion. The number of applications will rise, which will accelerate the market's expansion. Because of the increased urbanization, shifting lifestyles, and rising disposable income levels in both developing and developed countries, the market for interventional radiology products will grow more slowly. The market for interventional radiology products would grow in response to an increase in the senior population and a favorable reimbursement environment.
The advancement of imaging technologies and increased research and development activities in this area will also help the market for interventional radiology goods grow. Future market growth for interventional radiology goods will be driven by increased demand from developing regions and the release of cutting-edge devices. Thus, driving the Interventional Radiology Products market revenue.
The global Interventional Radiology Products market segmentation, based on Application, includes cardiology, oncology, gastroenterology, neurology, orthopedics, and urology and nephrology, others. The cardiology industry dominated the market in 2022. Adults and seniors are increasingly more likely to experience cardiovascular problems. As patients get older, it becomes more important to provide appropriate care to treat this ailment. As a result, many countries are working to make interventional radiology care more widely available.
The global Interventional Radiology Products market segmentation, based on Type includes stents, catheters, inferior vena cava (IVC) filters, embolization devices, thrombectomy systems, angioplasty balloons, biopsy needles, hemodynamic flow alteration devices, accessories, and other. In 2022, the majority of sales of interventional radiology products were stents. The significant portion of this market can be attributed to the global increase in angioplasty procedures as well as the rising incidence of cancer and cardiac conditions.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
By Region, Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. In the market for interventional radiology goods, North America led with a 45.8% market share and a USD 11.6 billion market revenue advantage, and it will keep this advantage throughout the forecast period. The region has a well-established healthcare infrastructure and a lot of significant essential stakeholders, which is why. Further, In the North American area, the U.S. Interventional Radiology Products market had the biggest market share, while the Canada Interventional Radiology Products market had the quickest rate of expansion.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
In Europe, a steady growth in the market for interventional radiology is predicted. This is explained by the rising number of cardiovascular disease patients in the area. In Germany, cardiovascular and chronic diseases account for about 40% of deaths among adult and geriatric patients. Further, In the European region, the German Interventional Radiology Products market had the biggest market share, and the U.K. Interventional Radiology Products market had the quickest rate of growth.
On the other hand, A rising senior population and a rise in the incidence of chronic diseases in the region are expected to drive Asia-Pacific to grow at the quickest rate during the forecast period. The aging population, growing healthcare infrastructure, rising healthcare expenses, and greater adoption of image-based therapeutic interventions are the main drivers of the market's growth. Moreover, In the Asia-Pacific region, the Indian Interventional Radiology Products market had the quickest rate of growth while China's Interventional Radiology Products market had the greatest market share.
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the Interventional Radiology Products market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The Interventional Radiology Products sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide Aerospace Foam industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the Interventional Radiology Products sector. Major players in the Interventional Radiology Products market, including Boston Scientific Corporation, Abbott, Cardinal Health, Cook, Stryker, B. Braun Melsungen AG, Terumo Corporation, General Electric, Koninklijke Philips N.V., Carestream Health, ESAOTE SPA, Hitachi, Ltd., Hologic, Inc., Shimadzu Corporation, Siemens Healthcare GmbH, CANON MEDICAL SYSTEMS CORPORATION, Samsung Medison Co., Ltd., Medtronic, Agfa-Gevaert Group, Teleflex Incorporated, Analogic Corporation, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Trivitron Healthcare, Toshiba International Corporation, and FUJIFILM Holdings Corporation, are attempting to increase market demand by investing in research and development operations.
under the name Konica Minolta Inc., develops, produces, and sells printing systems and solutions. The company's product line includes multifunctional peripherals (MFPs), hardware for graphic arts and production print systems, hardware for healthcare systems, and measurement tools for industrial and medical applications. For both industrial and commercial usage, it also produces optical goods, useful films, lighting source panels, and electronic materials. The company provides networking opportunities, services, and medical digitizing solutions. Konica Minolta also offers hardware for IoT, visual, and imaging applications. The company operates through both consolidated and unconsolidated subsidiaries and affiliates in the Americas, Asia-Pacific, Europe and the Middle East, and Africa. Konica Minolta's headquarters are in Chiyoda-ku in Tokyo, Japan. In November 2022, Konica Minolta Healthcare Americas released the Sonimage MX1 Platinum point-of-care ultrasound system.
Development, production, and sales of imaging systems, material solutions, healthcare solutions, and document solutions are all done by Fujifilm Holdings Corp. (Fujifilm). The company offers document solutions, such as office supplies, workstation printers, related production services, and global services. Color films, color papers and chemicals, photofinishing tools, electronic imaging and optical equipment, TV cameras, security lenses, healthcare products, graphic systems, flat panel display components, recording media, and industrial goods are the company's primary products. Fujifilm also offers equipment and supplies for pharmaceuticals, cosmetics, dietary supplements, cell culture medium and reagents, and medical systems. The corporation provides services to both private individuals and business organizations. The company has operations in the Americas, Europe, and the Asia-Pacific. Fujifilm's corporate headquarters are located in Minato-Ku, Tokyo, Japan. According to a press statement from Fujifilm Healthcare Americas Corporation, the Scenaria View Focus Edition Computed Tomography (CT) system, a high-end scanner featuring a sophisticated Cardiac Motion Correction feature called Cardio StillShot, will go on sale in the United States in November 2022.
· Boston Scientific Corporation
· Abbott
· Cardinal Health
· Cook
· Stryker
· B. Braun Melsungen AG
· Terumo Corporation
· General Electric
· Koninklijke Philips N.V.
· Carestream Health
· ESAOTE SPA
· Hitachi, Ltd.
· Hologic, Inc.
· Shimadzu Corporation
· Siemens Healthcare GmbH
· CANON MEDICAL SYSTEMS CORPORATION
· Samsung Medison Co., Ltd.
· Medtronic
· Agfa-Gevaert Group
· Teleflex Incorporated
· Analogic Corporation
· Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
· Trivitron Healthcare
· Toshiba International Corporation
· FUJIFILM Holdings Corporation
October 2022: To increase operational effectiveness, GE Healthcare released the new Omni Legend all-digital PET/CT platform.
February 2021: Medtronic (Ireland) acquired the radial artery access portfolio from RIST Neurovascular, Inc. This acquisition broadened the company's product offering in the interventional radiology sector and increased its ability to help patients who require interventional neurovascular therapy.
· Stents
· Catheters
· Inferior Vena Cava (IVC) Filters
· Embolization Devices
· Thrombectomy Systems
· Angioplasty Balloons
· Biopsy Needles
· Hemodynamic Flow Alteration Devices
· Accessories
· Other
· Cardiology
· Oncology
· Gastroenterology
· Neurology
· Orthopedics
· Urology and Nephrology
· Others
· Hospitals
· Clinics
· Home Care Settings
· North America
- U.S.
- Canada
· Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
· Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
· Rest of the World
- Middle East
- Africa
- Latin America
Report Scope
|
Report Attribute/Metric |
Details |
|
Market Size 2022 |
USD 25.6 Billion |
|
Market Size 2023 |
USD 26.9 Billion |
|
Market Size 2032 |
USD 42.3 Billion |
|
Compound Annual Growth Rate (CAGR) |
5.90% (2023-2032) |
|
Base Year |
2022 |
|
Market Forecast Period |
2023-2032 |
|
Historical Data |
2018- 2022 |
|
Market Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
Type, Application, End User, and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
|
Countries Covered |
The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
|
Key Companies Profiled |
Boston Scientific Corporation, Abbott, Cardinal Health, Cook, Stryker, B. Braun Melsungen AG, Terumo Corporation, General Electric, Koninklijke Philips N.V., Carestream Health, ESAOTE SPA, Hitachi, Ltd., Hologic, Inc., Shimadzu Corporation, Siemens Healthcare GmbH, CANON MEDICAL SYSTEMS CORPORATION, Samsung Medison Co., Ltd., Medtronic, Agfa-Gevaert Group, Teleflex Incorporated, Analogic Corporation, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Trivitron Healthcare, Toshiba International Corporation, and FUJIFILM Holdings Corporation |
|
Key Market Opportunities |
Increasing demand for painless drug administration |
|
Key Market Dynamics |
The rise in prevalence of chronic diseases such as cardiovascular disorders and cancer among global population and the shifting preference of consumer towards minimally invasive procedures |
The global Interventional Radiology Products Market was valued at USD 25.6 billion in 2022, and it is estimated to reach USD 42.3 billion by 2032.
The global market is projected to grow at a CAGR of 5.90% during the forecast period, 2023-2032.
North America had the largest share in the global market.
The key players in the market are Boston Scientific Corporation, Abbott, Cardinal Health, Cook, Stryker, B. Braun Melsungen AG, Terumo Corporation, General Electric, Koninklijke Philips N.V., Carestream Health, ESAOTE SPA, Hitachi, Ltd., Hologic, Inc., Shimadzu Corporation, Siemens Healthcare GmbH, CANON MEDICAL SYSTEMS CORPORATION, Samsung Medison Co., Ltd., Medtronic, Agfa-Gevaert Group, Teleflex Incorporated, Analogic Corporation, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Trivitron Healthcare, Toshiba International Corporation, and FUJIFILM Holdings Corporation.
The Stents Type Interventional Radiology Products dominated the market in 2022.
The Cardiology Application had the largest share in the global market.
Report Code :
RL6576
Published on :
Aug 2023
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