Interventional Radiology Market Size, Industry Analysis Report, By Product (MRI, CT, Ultrasound, Angiography), By Procedure (Angioplasty, Biopsy, Embolization, Thrombolysis, Vertebroplasty, Nephrostomy), By Application (Cardiology, Oncology, Urology, Gastroenterology, Obstetrics, Gynecology), By End-use (Hospitals, Ambulatory Surgical Centers), Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3576
Intervention Radiology Market size is projected to experience significant growth from 2019 to 2025.
Increasing prevalence of chronic diseases, rising adoption of minimally invasive procedures, and technological advancements in healthcare sector will drive the interventional radiology market over the forecast period. Rising cases of cancer has a major impact on the market growth. Abovementioned factors are propelling the demand for interventional radiology.
Many countries including the U.S. provide reimbursement cover for medical treatment and diagnosis under various health insurance policies in order to help patients with their healthcare expenditure. Increasing number of government initiatives pertaining to reimbursement policies across the globe will subsequently increase the demand for interventional radiology during the coming years.
Moreover, technological developments pertaining to advancement in interventional radiology is a major factor that will drive the market growth. However, health risks from exposure to radiation and global shortage of helium gas used in manufacturing of MRI scanners could hamper the industry growth.
The angioplasty segment is expected to grow at the fastest growth rate by procedure throughout the forecast period owing to rising cases of traumatic injuries. Oncology segment is expected to have the largest share by application due to rising prevalence of cancer.
Ambulatory surgical centers segment is expected to experience the highest growth rate by end-use throughout the forecast period. This growth is attributed to growing patient preference toward ambulatory surgical centers and rising number of ambulatory surgical centers.
U.S. dominated the global interventional radiology market in 2018 owing to the presence of well-developed healthcare infrastructure, skilled professionals, technological advancements, increasing adoption of interventional radiology as well as presence of dominant market players in the region. Furthermore, high healthcare expenditure and good healthcare reimbursement policies will fuel the market growth.
Japan is expected to witness a significant growth in the interventional radiology market during the analysis period owing to the increasing prevalence of chronic diseases and growing geriatric population. Moreover, technological advancements, rising disposable income and increasing developments in healthcare system are key factors that will boost the interventional radiology market over the forecast period.
Some of the key industry players operating in interventional radiology market include Siemens, GE Healthcare, Koninklijke Philips, Hitachi Medical Corporation, Toshiba Medical Systems, Carestream Health, Esaote, Hologic Inc., Shimadzu Corporation, Samsung Medison. Key strategies adopted by the industry players include strategic collaboration, new product launches, technological advancements, mergers and innovative product launches to expand their business product portfolio.
Interventional Radiology Market by Product, 2014-2025 (USD Million)
Interventional Radiology Market by Procedure, 2014-2025 (USD Million)
Interventional Radiology Market by Application, 2014-2025 (USD Million)
Interventional Radiology Market by End-use, 2014-2025 (USD Million)
- Ambulatory surgical centers
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- GE Healthcare
- Koninklijke Philips
- Toshiba Medical Systems
- Hitachi Medical Corporation
- Carestream Health
- Esaote, Hologic Inc.
- Shimadzu Corporation
- Samsung Medison
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