- Increase in prevalence of cardiac diseases across the globe is propelling the interventional radiology market
- Rise in adoption of next-gen healthcare technologies in North America is expected to bolster the regional market
WILMINGTON, Del., Aug. 2, 2022 /PRNewswire/ -- A study by Transparency Market Research (TMR) states that the global interventional radiology market is expected to expand at a CAGR of 5.2% during the forecast period. The market for interventional radiology was valued at US$ 16.36 Bn in 2018.
The report by TMR offers in-depth analysis of key factors influencing the growth trajectory of the interventional radiology market. Hence, readers gain access to study of the growth drivers, growth opportunities, expansion avenues, R&Ds, and emerging trends in interventional radiology market. This aside, the report also shed light on the recent developments in the market for interventional radiology.
Major companies operating in the global interventional radiology market are executing different strategies such as acquisition & collaborative agreements in order to stay ahead of the market competition. In addition, players are focused on regulatory approvals, new product launches, and R&Ds in order to develop cutting-edge products. Such efforts are prognosticated to help in the rapid expansion of the interventional radiology market during the forecast period, note researchers at TMR.
In terms of region, the interventional radiology service providers are anticipated to gain profitable prospects in the North America region. The growth of the North America interventional radiology market is ascribed to many factors including the early adoption of technological advancements in the regional healthcare industry.
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Interventional Radiology Market: Key Findings
- Interventional radiology is being utilized in a wide range of applications including angioplasty & stent placement, angiography, balloon angioplasty, vertebroplasty-kyphoplasty, and cancer. Moreover, the Journal of American College of Cardiology states that approximately 70% of the coronary angioplasties carried out globally utilize different types of imaging techniques. Thus, a surge in the application of this technology globally is generating business opportunities in the interventional radiology market. Moreover, a surge in the cases of cardiology diseases is likely to result into rise in the demand for interventional radiology devices globally.
- Rise in the prevalence of cancer patients across the globe is resulting into a surge in the demand for interventional radiologists globally. This factor is creating prominent opportunities in the interventional radiology market. This aside, the government as well as no-government organizations across the globe are taking initiatives to carry out different types of awareness programs pertaining to different critical diseases including cancer. These factors, in turn, are expected to help in driving the growth of the Interventional radiology market share during the forecast period.
- Due to increase in the adoption of next-gen technologies in the healthcare sector, there has been a rise in the use of different advanced advancements including fractional flow reserve (FFR) and optical coherence tomography (OCT) technique for stenting multi-vessel disease patients. This factor is foreseen to fuel the demand opportunities in the interventional radiology market during the forecast period.
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Interventional Radiology Market: Growth Boosters
- Rise in the number of people suffering from cancer is fueling the growth of interventional radiology market
- Increase in commonness of late pregnancies and rise in the maternal age across the globe are expected to boost the interventional radiology market size during the forecast period
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Interventional Radiology Market: Key Players
Some of the key players profiled in the report are:
- FUJIFILM Holdings Corporation,
- Agfa-Gevaert Group.,
- Hitachi Medical Corporation,
- GE Healthcare,
- Medtronic , Inc.,
- Hologic, Inc.,
- N.V., Siemens,
- Koninklijke Philips
- CANON MEDICAL SYSTEMS CORPORATION
- Teleflex Incorporated
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