Global Interventional Radiology Market is expected to reach USD 55.5% billion by 2025, from USD 16.99 billion growing at a CAGR of 5.8% during the forecast period of 2018 to 2025.
Interventional radiology is also known as vascular radiology. It is providing minimally invasive image guided diagnosis and treatment of disease. It includes fluoroscopy, ultrasound, computed tomography [CT] or magnetic resonance imaging [MRI]). Interventional radiology has the number of advantage include risk, pain and recovery time often reduces, it is less expensive than surgery or other alternatives.
Major Market Competitors/Players: Global Interventional Radiology Market
Some of the major players operating in global interventional radiology market are Koninklijke Philips N.V., GENERAL ELECTRIC, CANON MEDICAL SYSTEMS CORPORATION, Siemens Healthcare Private Limited, Hitachi Medical Corporation, Teleflex Incorporated, Medtronic, FUJIFILM Holdings Corporation, Agfa-Gevaert Group., Carestream Health, Esaote SpA., Samsung Medison Co., Ltd, Shimadzu Corporation, Biosensors International Group, Ltd., Stryker, and Cook Group, Emergence Teleradiology LLC , Agilent Technologies, Inc , Carestream Health , Barco Electronic Systems Pvt. Ltd., Elekta AB, Nordion (Canada) Inc., PLANMED OY, Hologic Inc., SectraAB,Atlantis Wordwide, NCD Corporation,Sharedimaging, All Star X-ray, Amber, Jones X-Ray, OzarkImaging, EXCEL IMAGING, INC., AMD Technologies, Inc., ScImage, Inc, SonoSite, Inc. are among others.
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The global interventional radiology market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Interventional Radiology market for global, Europe, North America, Asia Pacific and South America.
Reasons to Purchase this Report
- Current and future of global interventional radiology market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period.
- Regions/countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
In 2017, MEDNAX acquired Jefferson Radiology. In this acquisition, MEDNAX was excited to the growth of radiology physician services. The world-class technological capability MEDNAX offer by vRad with practice management expertise and physician-centric leadership which was making a strong partnership in radiology services.
According to the Statista in 2016 approximately USD 5.6 billion market value of MRI in U.S.
Key Developments in the Market:
- In 2018, Guerbet was completely acquired accurate medical therapeutics. By this acquisition, company enhances their presence.
- In 2015, Boston Scientific acquired CeloNova Biosciences. By this acquisition, company enhanced product portfolio in interventional radiology business.
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Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others
- The global Interventional radiology market is segmented based on product, procedure, application and geographical segments.
- Based on product, the market is segmented into MRI systems, ultrasound imaging systems, CT scanners, angiography systems, fluoroscopy systems, biopsy devices, other devices.
- Based on procedure, the market is segmented into angiography, angioplasty, biopsy devices, embolization, thrombolysis, vertebroplasty, nephrostomy, other procedures.
- Based on application, the market is segmented into cardiology, urology & nephrology, oncology, gastroenterology, other applications.
- Based on geography, the market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific and, Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others
Major Market Drivers and Restraints:
- Increasing interventional radiology application.
- Rising prevalence of cancer.
- Increasing demand for minimally invasive procedures.
- Technology advancement in interventional radiology devices.
- Less reimbursement scenario hinders the growth.
- Risk of high radiation exposure to limit the use of CT scanners.
- Shortage of helium which is the major challenge for MRI manufacturer and healthcare facilities.
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