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Description
Interventional Radiology Market size was valued at USD 26,254.3 million in 2021 and is expected to grow at a significant CAGR of 5.3% during the forecast period 2022 to 2028. The global market provides a detailed overview of the market and that can be segmented by product type, technology, application, end user, and region. By product type, The Interventional radiology market has been segmented into ultrasound imaging, CT scan, angiography, and MRI. The MRI segment is likely to be the largest and fastest-growing segment due to various factors such as technological advancements and new product launches. Based on technology, the Interventional radiology market is segmented into angiography, angioplasty, biopsy, and others. Among these, the angiography segment is expected to have the fastest-growing market over the forecast period 2022-2028, due to the increasing prevalence of cardiovascular diseases and the rising demand for minimally complex procedures. Based on application, the Interventional radiology market is segmented into cardiology, gastroenterology, oncology, urology, & nephrology. The oncology segment is anticipated to witness the highest CAGR during the forecast period due to the rising incidence of cancer and increasing demand for minimally invasive procedures. Based on the end user, the segment has been segregated into hospitals, ambulatory surgical centers, and others. The hospital segment is expected to dominate due to rising patient populations worldwide, and rising various clinical trials over various diseases.
Key Development:
In December 2020, Samsung Electronics Co. Ltd launched its premium diagnostic imaging solutions in ultrasound, digital radiography, and mobile computed tomography at the Radiological Society of North America (RSNA) 2020. This strategic initiative assisted the company in expanding its product portfolio in the interventional radiology industry.
In April 2022, GE Healthcare and Medtronic announced a collaboration to meet the growing need for outpatient care and focused on the unique needs and demand for care at Ambulatory Surgery Centers (ASCs) and Office Based Labs (OBLs).
