Stratview Research has launched a new report, titled Interventional Radiology Market is Segmented by Product Type (MRI Systems, CT Scanners, Ultrasound Imaging Systems, Angiography Systems, Fluoroscopy Systems, Biopsy Devices, and Others), by Procedure Type (Angiography, Angioplasty, Biopsy, Embolization, Thrombolysis, Vertebroplasty, Nephrostomy, and Others), by Application Type (Cardiology, Oncology, Gastroenterology, Urology & Nephrology, Obstetrics, Gynecology, and Others), by End-Use Type (Hospitals, Clinics, and Ambulatory Surgical Centers), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)

Covid-19 Impact Analysis:

Covid-19 has highly impacted the market dynamics, competition, and supply chain of almost all industries. The revenues have gone down in 2020 and are expected to resume an uptrend gradually from 2021 and continue to grow further. The report covers all the segments that were affected by the pandemic.

According to the report, Interventional Radiology Market is likely to witness a CAGR of 7.0% during the forecast period. The demand for interventional radiology technologies such as CT scans, MRIs, ultrasounds, and others is driven by the shifting consumer preference for minimally invasive procedures. Minimally invasive surgeries have grown in popularity as they are cost-effective and require a shorter hospital stay. These factors, combined with the rising occurrence of various chronic diseases, particularly among the elderly, are expected to boost the technology adoption significantly, thereby contributing to the growth of the market over the forecast period.

Market Segments’ Analysis

Based on the product type, the market is segmented as MRI systems, CT scanners, ultrasound imaging systems, angiography systems, fluoroscopy systems, biopsy devices, and others. CT scanners are expected to account for the lion’s share of the market during the forecast period due to the increasing demand for surgical, medical, or radiation treatment planning, as CT scans combine a number of X-ray images captured from various angles around the body and processes them to build cross-sectional images or slices of blood vessels, tissues, and bones. Furthermore, technological advancements in the healthcare sector are expected to drive the market growth over the forecast period.

Based on the procedure type, the market is segmented as angiography, angioplasty, biopsy, embolization, thrombolysis, vertebroplasty, nephrostomy, and others. Angiography is expected to be the dominant procedure type in the market during the forecast period. The growth of the segment is driven by the increasing demand for minimally invasive procedures and the growing prevalence of cardiovascular diseases.  Angiography also provides real-time imaging for better treatment. This is further expected to drive the market growth during the forecast period.

Based on the application type, the market is segmented as cardiology, oncology, gastroenterology, urology & nephrology, obstetrics, gynecology, and others. The cardiology application type segment is estimated to account for the major share of the market during the forecast period owing to the increasing cardiovascular diseases coupled with aging population. Radiologists use ultrasound, CT scans, MRIs, and other technologies to diagnose heart disease and assess its causes and symptoms.

In terms of regions, North America is estimated to be the leading region in the market due to the growing number of chronic diseases, changing lifestyles, aging population, and the increasing demand for less expensive interventions. In addition, new product developments and technology advancements are further expected to fuel the market growth over the forecast period. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.

Key Players

The following are the key players in the Interventional Radiology Market.

  • Carestream Health
  • Esaote S.P.A.
  • GE Healthcare
  • Hitachi Medical Corporation
  • Hologic Inc.
  • Koninklijke Philips N.V.
  • Samsung Medison Co., Ltd.
  • Shimadzu Corporation
  • Siemens AG
  • Toshiba Medical Systems Corporation

Frequently Asked Questions –

This report provides vital information and valuable insights, enabling the users to identify the strategic growth opportunities in the market. The report aims at answering the following key questions:

  • What is the current and future market size of Interventional Radiology Market?
  • How has the COVID-19 pandemic impacted the market? How fast is it expected to recover?
  • What will be the short and long-term effects of the pandemic?
  • How are other market factors affecting the market dynamics?
  • Which segments offer high-growth opportunities in the long run?
  • How fierce is the Interventional Radiology Market competition?
  • What are the key emerging trends and unmet needs in the present market?
  • What are the strategic growth opportunities and key success factors?

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