Global Interventional Radiology Market - Segmented by product Type, Procedures, Application and Geography - Growth, Trends and Forecast (2022 - 2030)

The global Interventional Radiology market is projected to grow at a CAGR of approximately 5.9% during the forecast period (2018-2023). The global Interventional Radiology market is experiencing considerable growth due to factors like increasing preference for minimally invasive procedures and increasing technological advancements in interventional radiology devices

Increasing Preference for Minimally Invasive Procedures
Chronic diseases are ongoing, generally incurable illnesses or conditions, such as heart disease, asthma, cancer, and diabetes. Cardiovascular diseases are the major cause of death globally. Until recent years, treating heart disease meant opening the patient’s chest to directly access the heart through surgery which is expensive and often the patient is exposed to high risk of infection. There is a rising trend for minimally invasive procedures owing to cost effective solution and less hospital stays. Using minimally invasive techniques, patients are quickly treated and are often discharged from the hospital the same day. Most of the minimally invasive procedures requires imaging technologies. Innovation in the imaging technologies which provides real time images to the surgeons to show a comprehensive view of internal organs while diagnosing is driving the interventional radiology market. The increasing preference for minimally invasive procedures and increasing prevalence of chronic diseases are driving the interventional radiology market. Other factors contributing to the growth of this market include technological advancements in interventional radiology devices.

RISK OF HIGH RADIATION EXPOSURE
Interventional radiologic procedures use diagnostic-type imaging equipment to assist a physician in the treatment of a patient's condition. Interventional radiology procedures rely on the use of images generated by diagnostic radiology equipment such as fluoroscopy, ultrasound, CT scan, or MRI imaging etc. These imaging guiding procedures might require harmful level of exposure to radiation. According to the National Council on Radiation Protection and Measurements, diagnostic imaging tests have increased Americans’ average radiation exposure seven times since 1980, and increased exposure has been shown to increase cancer risk. Research also suggest that interventional radiologists have at least three times the risk of left side brain tumors than the general public. However, advances in image acquisition technology and radiation safety protocols have significantly reduced the radiation exposure for a variety of interventional radiology procedures. One such advancement is radiation exposure to be monitored in real-time while physicians and technical staff treat their patients. The risk of interventional radiology procedures depends on the type of procedure because some use very little radiation, while complex procedures use higher radiation. The high risk of radiation exposure is restraining the growth of Interventional radiology market. Other factors which are hindering market growth high cost of equipment.

North America has the Largest Share in Global Interventional Radiology Market
The global interventional radiology market has been segmented into five major regions, viz. North America, Europe, Asia Pacific, Middle East & Africa, and South America. Driven by the developed country of the U.S., North America dominated the global Interventional Radiology market in 2017, due to factors such as increasing preference for minimally invasive procedures, and increasing prevalence of chronic diseases owing to changing lifestyles. Furthermore, technological advancements in interventional radiology devices and increasing expenditure by major key players & small key players for interventional radiology devices are also boosting the growth of the interventional radiology market in North America.

Key Developments in Interventional Radiology Market
Jan 2018: Guerbet announces its acquisition of Accurate Medical Therapeutics, an innovative company that develops microcatheters for interventional radiology

Interventional Radiology Market Major Players: Carestream Health, Esaote S.P.A., GE Healthcare, Hitachi Medical Corporation, Hologic Inc., Koninklijke Philips N.V., Shimadzu Corporation, Siemens AG, and Toshiba Medical Systems Corporation among others.

Reasons to Purchase Interventional Radiology Market Report
Current and future global interventional radiology market outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
The segment that is expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
Identify the latest developments, market shares and strategies employed by the major market players.
3-month analyst support along with the Market Estimate sheet in excel.

Customization of Interventional Radiology Market Report
This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.