Interventional Radiology Global Market
The Interventional Radiology Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Interventional Radiology Global Market Report 2024, The interventional radiology market size has grown rapidly in recent years. It will grow from $24.08 billion in 2023 to $27.42 billion in 2024 at a compound annual growth rate (CAGR) of 13.9%. The growth in the historic period can be attributed to increased aging population, rise in chronic disease prevalence, adoption of telehealth service, enhanced radiation safety measures, increased minimally invasive procedures.
The interventional radiology market size is expected to see rapid growth in the next few years. It will grow to $44.06 billion in 2028 at a compound annual growth rate (CAGR) of 12.6%. The growth in the forecast period can be attributed to improving healthcare infrastructure, adoption of genomic medicine, increasing use of interventional radiology, supportive regulatory changes, improving patient awareness. Major trends in the forecast period include adoption of focused ultrasound, growing focus on pediatric interventional radiology, adoption of point-of-care imaging, adoption of patient navigation tools, adoption of catheter robotics.
The increase in prevalence of cancer is expected to drive the growth of the interventional radiology market in the coming years. Cancer is a global health problem and is the second leading cause of death in the United States. Interventional radiology uses a variety of techniques such as ablation, embolization, and irreversible electroporation (IRE) to treat cancer and cardiovascular disorders. For instance, in February 2023, according to the House of Commons Library, a UK-based government body, cancer claimed the lives of 134,802 persons in England in 2021. Hence, the increasing prevalence of cancer drives the growth of the interventional radiology market.
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The interventional radiology market covered in this report is segmented –
1) By Product: MRI, Ultrasound Imaging, CT Scanners, Angiography Systems, Fluoroscopy Systems, Biopsy Devices, Other Products
2) By Procedure: Angioplasty, Angiography, Biopsy And Drainage, Embolization, Thrombolysis, Vertebroplasty, Nephrostomy, Other Procedures
3) By Application: Oncology, Cardiology, Urology And Nephrology, Gastroenterology, Other Applications
Artificial Intelligence is a key trend gaining popularity in the interventional radiology market. Companies operating in the interventional radiology sector continuously focus on introducing new technologies to survive in the interventional radiology market. For instance, in June 2022, shimadzu medical systems, a US-based medical equipment company launched Trinias angiography system with an artificial intelligence. It is made to assist many different interventional procedures, such as interventional cardiology, peripheral investigations, interventional neurology, interventional radiology, and cancer. Heart diseases include congenital heart abnormalities, heart valve disease, and coronary artery disease are all diagnosed and treated with the Trinias angiography system.
The interventional radiology market report table of contents includes:
1. Executive Summary
2. Interventional Radiology Market Characteristics
3. Interventional Radiology Market Trends And Strategies
4. Interventional Radiology Market – Macro Economic Scenario
5. Global Interventional Radiology Market Size and Growth
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31. Global Interventional Radiology Market Competitive Benchmarking
32. Global Interventional Radiology Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Interventional Radiology Market
34. Interventional Radiology Market Future Outlook and Potential Analysis
35. Appendix
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