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Interventional Radiology Products Market Exclusive Report on the Latest Revenue and Future Scope
According to the latest research by InsightAce Analytic, the global interventional radiology products market is valued at US$ 21.42 Billion in 2021, and it is expected to reach US$ 40.76 Billion by 2030, with a CAGR of 7.6% during a forecast period of 2023-2031.
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To diagnose and treat patients, interventional radiology uses minimally invasive image-guided procedures. This field of medicine uses radiological guidance systems and apparatus, including x-ray, MRI, CT, fluoroscopy, and other modalities. The main interventional radiological procedures performed with these techniques are for diagnosing any underlying disorders the patient may have, which can be identified by visualization through photographs. Vascular and interventional radiology are other names for interventional radiology (VIR).
The prevalence of chronic diseases, such as cancer and cardiovascular issues, among the world's population will be a significant driver of the market for interventional radiology products. As consumer preferences for minimally invasive procedures change, the need for interventional radiology technologies, such as CT scans, MRIs, and ultrasounds, will increase, spurring market expansion. Another significant factor boosting the market's expansion is the increasing emphasis on developing smart, digital inhalers.
A growing need of painless drug administration and rising healthcare costs drive market expansion. The number of applications will rise, accelerating the market's expansion. Because of the increased urbanization, shifting lifestyles, and rising disposable income levels in both developing and developed countries, the market for interventional radiology products will grow more slowly. The demand for interventional radiology products would benefit from a rise in the senior population and an environment with favourable reimbursement policies.
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North America is anticipated to be the major contributor to the interventional radiology products market over the forecast years. The high prevalence of chronic diseases, expanding geriatric population, rising use of minimally invasive procedures, and the presence of major players in the region can all be linked to the big proportion of the North American market. In addition, the Asia Pacific interventional radiology products market is expected to grow significantly during the forecast period. The presence of emerging economies like China, India, and South Korea, rising chronic disease prevalence, rising demand for high-quality healthcare, increasing healthcare spending and government initiatives, rising disposable income, expansion of the medical device industries, and improvements in healthcare infrastructure in Southeast Asian nations are the main factors propelling the market's development in the Asia Pacific region.
Major market players operating in the Interventional Radiology Products market include
Biosensors International Group, Ltd. (Singapore), Teleflex Incorporated (US), vascular S.L.U. (Spain), Penumbra, Inc. (the US), BIOTRONIK SE & Co. KG (Germany), ENDOCOR GmbH (Germany), Medtronic (Ireland), Boston Scientific Corporation (US), Becton, Dickinson and Company (US), Abbott (US), Cardinal Health (US), B. Braun Melsungen AG (Germany), Stryker (US), Terumo Medical Corporation (Japan), Cook Medical (US), Meril Life Sciences Pvt. Ltd. (India), Palex Medical (Spain), UreSil, LLC (US), Alvimedica (Turkey), Cardionovum GmbH (Germany), SMT (India), Medinol Ltd. (Israel), Comed B.V. (Netherlands), SCITECH (Brazil), Balton Sp. z o.o. (Poland), Rontis (Switzerland) and other prominent players
Recent collaborations and agreements in the market:
• In 2021, the radial artery access portfolio was purchased by Medtronic (Ireland) from RIST Neurovascular, Inc. (US). The company's product line in the market for interventional radiology goods was widened by this acquisition, which also improved its capacity to assist patients who require interventional neurovascular therapy.
• In 2020, by acquiring Farapulse, Inc. (US), Boston Scientific Corporation (US) will increase its product offerings in the market for interventional radiology devices.
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Market Segments
Global Interventional Radiology Products Market, by Type, 2022-2030 (Value US$ Mn)
• Catheters
• Stents
• Inferior Vena Cava (IVC) Filters
• Hemodynamic Flow Alteration Devices
• Angioplasty Balloons
• Thrombectomy Systems
• Embolization Devices
• Biopsy Needles
• Accessories
• Other Interventional Radiology Products
Global Interventional Radiology Products Market, by Applications, 2022-2030 (Value US$ Mn)
• Cardiology
• Urology & Nephrology
• Oncology
• Gastroenterology
• Neurology
• Orthopedics
• Other Applications
Global Interventional Radiology Products Market, by Region, 2022-2030 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Interventional Radiology Products Market, by Country, 2022-2030 (Value US$ Mn)
• U.S.
• Canada
Europe Interventional Radiology Products Market, by Country, 2022-2030 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Interventional Radiology Products Market, by Country, 2022-2030 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Interventional Radiology Products Market, by Country, 2022-2030 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Interventional Radiology Products Market, by Country, 2022-2030 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa
Why should buy this report:
To receive a comprehensive analysis of the prospects for the global interventional radiology products market
To receive an industry overview and future trends of the interventional radiology products market
To analyze the interventional radiology products market drivers and challenges
To get information on the interventional radiology products market value (US$Mn) forecast to 2030
Significant investments, mergers & acquisitions in the interventional radiology products market industry
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