About Interventional Radiology
Interventional radiology is a medicinal technology that provides minimally invasive image-guided diagnosis and treatment of disease. Increasing prevalence of chronic diseases such as cancer, cardiovascular diseases, and others propelling the demand for the Interventional radiology market. For instance, According to the World Health Organization (WHO) 2018 report, cardiovascular diseases accounted for nearly 836,546 deaths in the United States. Moreover, according to the World Cancer Research Firm, around 18 million cancer cases reported across the globe in 2018. Growing preference for minimally invasive procedures as it requires imaging technologies to provides real-time images of internal organs further propelling the market demand.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.8% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Interventional Radiology market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
GE Healthcare (United Kingdom), Siemens Healthcare GmBH (Germany), Koninklijke Philips N.V. (Netherland), Toshiba Medical Systems Corporation (Japan), Hitachi Medical Corporation (Japan), Carestream Health, Inc. (United States), Fujifilm Corporation (Japan), Samsung Medison (South Korea) and Shimadzu Corporation (Japan) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Hologic, Inc. (United States) and Esaote S.p.A (Italy).
Segmentation Overview
AMA Research has segmented the market of Global Interventional Radiology market by Type (X-ray, Computed Tomography, Magnetic Resonance Imaging (MRI) and Ultrasound), Application (Oncology, Cardiology, Urology & Nephrology, Gastroenterology and Others) and Region.
On the basis of geography, the market of Interventional Radiology has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Technology, the sub-segment i.e. Catheters [Diagnostics Catheters, Therapeutics Catheters will boost the Interventional Radiology market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-user, the sub-segment i.e. Hospitals will boost the Interventional Radiology market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Demand for Minimally Invasive Procedures and Emphasizing On Technological Advancements in the Field of Interventional Radiology
Market Growth Drivers:
Increase in the Prevalence of Chronic Disease and Growing Geriatric Population
Challenges:
Risk of High Radiation Exposure during Interventional Radiology Procedure
Restraints:
Stringent Government Regulations Regarding Interventional Radiology and Lack of Skilled Medical Professionals
Opportunities:
Rising Demand for Interventional Radiology Owing to Increasing Incidence of Cancer and Growing Healthcare Infrastructure in the Developing Economies
Market Leaders and their expansionary development strategies
In September 2022, Hillsboro Medical Center is newly launched Interventional Radiology services in partnership with the Dotter Department of Interventional Radiology at Oregon Health & Science University.
28th February 2019. Siemens Launch Artis icono, a new line of interventional angiography systems. This product line is designed to support both cardiology and radiology interventional procedures by means of a new detector positioning design.
“According to the Federal Regulations, each facility should establish a radiation safety program. A radiation safety program is the mechanism by which an institution ensures that, each individual involved in image selection, acquisition and interpretation is appropriately trained on radiation safety (ICRP 2009), the use of ionizing radiation within its purview is performed in accordance with existing laws and regulations, individual health care providers and technologists are equipped with knowledge of the options available to them as they contribute to making benefit, risk assessments and selecting the appropriate examination and protocol for each individual patient, and x-ray equipment users and the surrounding public receive adequate radiation protection. The primary objective is to obtain necessary diagnostic information or interventional results with no more irradiation of the patient than is required. This also helps keep exposure to staff and members of the public at a minimum.”
Key Target Audience
Government Agencies, Commercial Research & Development Institutions, Government Organizations, Research Organizations, and Consulting Firms, Trade Associations and Industry Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.