About Interventional Radiology Products
Interventional radiology (IR) uses angiographic X-ray-guided, catheter-based interventional procedures rather than open surgical procedures. The growth in IR has been rapid over the past decade as medicine moves toward less invasive procedures. The rising incidence of chronic diseases, rising geriatric population, and increasing demand for minimally invasive surgeries are the major driving factors of the market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 4.98% |
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 European and United States Players will contribute the maximum growth to Global Interventional Radiology Products 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.
Abbott Vascular (United States), Boston Scientific Corporation (United States), Medtronic plc (Ireland), Cardinal Health (United States), B. Braun Melsungen AG (Germany), C.R Bard (United States), Biosensor International Group Ltd. (Singapore), Stryker Corporation (United States), Terumo Corporation (Japan) and Cook Medical Inc. (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Interventional Radiology Products market by Type (Catheters, Stents, Inferior Vena Cava (IVC) Filters, Hemodynamic Flow Alteration Devices, Angioplasty Balloons, Thrombectomy Systems, Embolization Devices, Biopsy Needles, Accessories and Others (Bone Cement, Nephrostomy Tubes, and Gastrostomy Tubes)), Application (Cardiology, Urology and Nephrology, Oncology, Gastroenterology, Neurology, Orthopedics and Others (Pulmonary and Gynaecology)) and Region.
On the basis of geography, the market of Interventional Radiology Products 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 Procedure, the sub-segment i.e. Angioplasty will boost the Interventional Radiology Products 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
Market Growth Drivers:
Rising Prevalence and Incidence of Chronic Diseases, Growing Geriatric Population and Increasing Reimbursement for Minimally Invasive Procedures
Challenges:
Entry Barriers for New Players and Product Failures and Recalls
Restraints:
Availability of Effective Conventional First-Level Treatments
Opportunities:
Technological Advancement and Development in the Interventional Radiology Products
Market Leaders and their expansionary development strategies
In February 2021, Medtronic (Ireland) acquired the radial artery access portfolio from RIST Neurovascular, Inc. (US). This acquisition expanded the company's portfolio in the interventional radiology products market and enhanced its ability to serve patients that require interventional neurovascular therapy.
In September 2023, Canon Medical introduces Alphenix Sky 12 HD interventional system with the new 12”×12” High-Definition (Hi-Def) Detector. The Sky 12HD expands the Alphenix family by adding 12”x12” Hi-Def detector to its existing 12”x16” Hi-Def detector. These options now provide clinicians the ideal size for their unique procedural needs, complimenting to the existing lineup of Alphenix Sky+, Alphenix 4D CT, Alphenix Biplane, and Alphenix Core+ systems.
Key Target Audience
Interventional Radiology Products Manufacturers, Research Organizations and Consulting Companies, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users 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.