Interventional Radiology Market is Expected to expand at a CAGR of 5.2% to 2027| TMR Study

The latest research study released by Transparency Market Research on “Interventional Radiology Market Forecast to 2019 – 2027 ″ research provides accurate economic, global, and country-level predictions and analyses. It provides a comprehensive perspective of the competitive market as well as an in-depth supply chain analysis to assist businesses in identifying major changes in industry practices. The market report also examines the current state of the Interventional Radiology industry, as well as predicted future growth, technological advancements, investment prospects, market economics, and financial data.

Interventional Radiology market is prognosticated to expand at a CAGR of 5.2% during the forecast period, 2019 – 2027, states a study by Transparency Market Research (TMR).

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Rising Prevalence of Cancer and cardiovascular disorders and Technological Advancement: Key Drivers

• Interventional radiology involves the use of medical imaging to see inside the body and minimally invasive techniques to diagnose and treat cancer. According to National Cancer Institute, in 2018 around 1,735, 350 new cases of cancer was estimated to be diagnosed in the U.S.
• Governments of various countries, including developed and developing nations such as the U.S., Sweden, Norway, and India, encourage patient to opt for more effective interventional radiology techniques for diagnosis of cancer.
• With the evolution of new techniques such as optical coherence tomography (OCT) and fractional flow reserve (FFR) technique for stenting patients with multi-vessel disease, likely to drive the interventional radiology market in the forecast period. Moreover, rising prevalence of cardiology disorder is expected to boost adoption of interventional radiology devices
• According to the American Heart Association, in 2018, about 92.1 million U.S. adults were living with some form of a cardiovascular disease or after-effects of stroke
• In April 2015, Philips launched innovative 3D navigation system to enhance minimally invasive treatment of vascular diseases. It can be used with interventional X-ray systems, enhancing the precision and accuracy of stent placement, while at the same time significantly reducing contrast medium usage. These new technological advancements are expected to drive the market during the forecast period.

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Low Adoption of Digital Technology-based Systems to Hamper Market

• High cost of digital radiology devices such as X-ray systems, MRI scanners, and CT scanners was a major restraint of the market in emerging countries. In these regions, complementary systems such as ultrasound were deployed instead of the costly digital radiology devices.
• Moreover, even after paying a premium price for high resolution closed system MRI equipment, growth was mediocre due to high number of claustrophobic patients. These factors have resulted in lower adoption of premium devices, thereby leading to ordinary growth of the medical imaging equipment market globally.

Competitor Analysis:

The significant players operating in the global Interventional Radiology market are

CANON MEDICAL SYSTEMS CORPORATION, N.V., Siemens, Medtronic, Inc., Hitachi Medical Corporation, FUJIFILM Holdings Corporation

Market Segmentation –

Product

• X-ray
• Computed Tomography (CT)
• Magnetic Resonance Imaging (MRI)
• Ultrasound

Application

• Angiography
• Balloon Angioplasty
• Embolization
• Biopsy
• Vertebroplasty-Kyphoplasty
• RF Ablation
• Others

End-user

• Hospitals
• Catheterization Labs
• Ambulatory Surgical Centers
• Others

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Key Developments

• In February 2019, Siemens Healthineers launched Artis icono which is an interventional angiography systems. This new product has novel detector positioning design and floor mounted unit which is optimized for vascular and interventional radiology procedure.
• In November 2018, CANON MEDICAL SYSTEMS CORPORATION launched Alphenix platform which is a next generation interventional systems.
• In November 2017, Koninklijke Philips N.V. acquired U Analytical Informatics, Inc. which will help company expand its radiology solutions portfolio.

This Report lets you identify the opportunities in Interventional Radiology Market by means of a region:

• North America (the United States, Canada, and Mexico)
• Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
• Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
• South America (Brazil etc.) The Middle East and Africa (North Africa and GCC Countries)

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