The report provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the interventional radiology products market along with the estimates and forecasts of the revenue and market share analysis.
Key Factors Driving Market Growth:
The major factors driving the growth of interventional radiology market are rising incidence of chronic diseases, rising geriatric population, and increasing demand for minimally invasive surgeries.
Expected Revenue Growth Analysis:
The global interventional radiology market is expected to reach USD 8.02 Billion by 2021 from USD 6.35 Billion in 2016, at a CAGR of 4.8% from 2016 to 2021.
Browse 79 market data Tables and 37 Figures spread through 144 Pages and in-depth TOC on “Interventional Radiology Products Market”
Based on type, the interventional radiology products market is segmented into stents, catheters, IVC filters, hemodynamic flow alteration devices, angioplasty balloons, thrombectomy systems, embolization devices, biopsy needles, and accessories. In 2016, the stents segment is expected to dominate the global interventional radiology products market. The key factors driving the growth of the interventional radiology stents market are the growing geriatric population and increasing incidence of cardiovascular diseases around the world.
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Based on procedure, the interventional radiology products market is segmented into angioplasty, angiography, embolization, thrombolysis, biopsy & drainage, vertebroplasty, nephrostomy, and other applications. In 2016, the angiography segment is expected to account for the largest share of this market. The growing demand for minimally invasive procedures and rising geriatric population are the key factors driving market growth in this segment.
Based on application, the interventional radiology market is segmented into cardiology, urology & nephrology, oncology, gastroenterology, neurology, orthopedics, and other applications. The oncology segment is expected to grow at the highest CAGR during the forecast period. The major factors driving the growth of this interventional radiology market segment are the increasing incidence of cancer and rising demand for minimally invasive procedures.
Based on region, the global interventional radiology products market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). In 2016, North America is expected to account for the largest share of the interventional radiology market. The rising incidence of chronic diseases (CVD), the increasing demand for minimally invasive procedures, and availability of reimbursement for minimally invasive products in this region are the major factors contributing to the growth of this market.
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Key players in the interventional radiology products market include Abbott Vascular (U.S.), Boston Scientific Corporation (U.S.), Medtronic plc (Ireland), Cardinal Health (U.S.), B. Braun Melsungen AG (Germany), C.R Bard (U.S.), Biosensor International Group Ltd. (Singapore), Stryker Corporation (U.S.), Terumo Corporation (Japan), and Cook Medical Inc. (U.S.).
GE Healthcare (U.K), a part of General Electronics, was the global leader in the interventional radiology market in 2015. The company offers an exhaustive product portfolio comprising various interventional radiology imaging products, such as angiography systems, MRI systems, ultrasound and CT scanners. The company also focuses on organic growth strategies such as product launches to enhance its market share. For instance, in January 2016, GE Healthcare launched the portable compact cardiovascular ultrasound, Vivid iq. This product offers image quality and allows clinicians to diagnose in more settings. This device delivers premium cardiac care.
1. Interventional radiology product manufacturers
2. Interventional radiology product distributors
3. Healthcare institutions (hospitals, medical schools, group practices, individual surgeons, and governing bodies)
4. Various research and consulting companies
5. Various research associations related to interventional radiology