Global Interventional Radiology Market
Global interventional radiology market was valued at US $ XX Mn and expected to grow at 6.35% Compound Annual Growth Rate (CAGR) over 2020 to 2026.
Interventional radiology is a range of techniques that rely on the use of the radiological image guidance using X-ray fluoroscopy, ultrasound, computed tomography [CT] or magnetic resonance imaging [MRI] to precisely target therapy. The interventional radiology treatments are minimally invasive alternatives to surgeries. It is also called as pinhole surgery as the procedures start with passing a needle through the skin to the target.
The major factor attributing the growth of the interventional radiology market are the technological advancements. The keen of the patients towards the adoption of the minimal invasive techniques is adding fuel for the growth of the market. Rising incidence of the chronic diseases boosting the growth of the market. Increase in the use of the interventional radiology (IR) in the treatment of chronic diseases is enhancing the growth of the interventional radiology market. However, the high cost of the equipment is hampering the growth of the market. The lack of skilled professionals for efficient handling of the equipment is hindering the growth of the market.
Interventional Radiology market is segmented based on the product type, procedures, application, and end user
Based on the product type, the market is segmented into the following:
- Ultrasound imaging
- CT scan
Based on the technology, the market is segmented into the following:
Based on the application, the market is segmented into the following:
- Urology & Nephrology
Based on the distribution channel, the market is segmented into the following:
- Hospital Pharmacies
- Ambulatory Surgical Centers
Geographically, global interventional radiology market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America market is the leading market in the global market. The adoption of the technological advancements is majorly attributing the growth of the market in this region. The presence of larger number of the market players is another factor boosting the growth of the market in this region. The rising adoption of the minimal invasive techniques by the patient pool is attributing the growth of the market. Europe market follows North America region. The Asia Pacific interventional radiology market is considered as the emerging market owing to the presence of emerging economies which has keen on the development of the healthcare infrastructure.
Some of the players in the global interventional radiology market include:
- Hologic, Inc. (U.S.)
- Fujifilm Corporation (Japan)
- Samsung Medison (South Korea)
- Shimadzu Corporation (Japan)
- Carestream Health, Inc. (U.S.)
- Esaote S.p.A (Italy)
- GE Healthcare (General Electric Company) (U.K.)
- Siemens Healthcare GmBH (Siemens AG) (Germany)
- Koninklijke Philips N.V. (The Netherlands)
Notable Market Developments:
- In September 2017, Hitachi has announced that Supria® True64 CT compact design has received FDA clearance