Interventional Radiology Market is Projected to Reach US$ 35.16 Billion in 2028
Stratview Research
4 min read
Stratview Research
Interventional Radiology Market is expected to reach US$ 35.16 Billion in 2028, growing at a CAGR of 5.3% during 2022- 2028, reports Stratview Research.
Raipur, Nov. 07, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the Interventional Radiology Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
What are the Top Market Drivers?
According to the report, the Interventional Radiology Market is driven by a host of factors, some of which are noted below:
Shifting consumer preference for minimally invasive procedures.
Rising occurrence of various chronic diseases.
The report also includes growth rate estimates based upon the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.
Interventional Radiology Market Segmentation:
Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.
By Product Type,
By Procedure Type,
By Application Type,
By End-use Type,
By Region.
Interventional Radiology Market Insights
Market Trends by 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.
Market Trends by 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.
Market Trends by 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.
Which region offers the best opportunity and growth?
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.
COVID-19 Impact on the Interventional Radiology Market
COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.
To know more about the covid-19 impact, get a free sample report, here:
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