Interventional Radiology Products Market Trends

Global Interventional Radiology Products Market Overview

The Interventional Radiology Products Market Size was valued at USD 25.3 Billion in 2022 and is projected to grow from USD 26.8 Billion in 2023 to USD 42.0 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.80% during the forecast period (2023 - 2032). The prevalence of chronic diseases like cancer and cardiovascular conditions is increasing worldwide, and consumers are adjusting their preferences to less intrusive methods are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Interventional Radiology Products Market Trends

• Rise in prevalence of chronic diseases is driving the market growth

The global population's increasing prevalence of chronic diseases including cancer and cardiovascular problems would be a key factor in boosting the expansion of the market for interventional radiology goods. The need for interventional radiology technologies including CT scans, MRIs, and ultrasounds will rise as customer preferences for minimally invasive procedures alter, which will accelerate market growth. The growing emphasis on the creation of smart/digital inhalers is another important element contributing to the market's growth. Additionally, rising healthcare costs and a growing need for painless drug administration are the main factors boosting market expansion. The increase in applications will also have a favorable effect on the market's growth rate. The market for interventional radiology products will increase at a slower rate due to rapid urbanization, changing lifestyles, and rising disposable income levels in both developing and developed nations. Increased elderly population and a good reimbursement environment would boost the market for interventional radiology products.

Additionally, the market expansion of the interventional radiology products will benefit from the increase in research and development efforts related to this field and the improvement of imaging technologies. The market for interventional radiology products will continue to increase in the future due to rising demand from emerging regions and the introduction of innovative products. Thus, driving the Interventional Radiology Products market revenue.

Interventional Radiology Products Market Segment Insights

Interventional Radiology Products Type Insights

The Market segments of Interventional Radiology Products, based on Type includes stents, catheters, inferior vena cava (IVC) filters, embolization devices, thrombectomy systems, angioplasty balloons, biopsy needles, hemodynamic flow alteration devices, accessories, and other. In 2022, stents held the biggest market share for interventional radiology goods. The substantial proportion of this market can be attributable to the rising incidence of cancer and heart disorders as well as the rising frequency of angioplasty surgeries worldwide.

Interventional Radiology Products Application Insights

The Market segmentation of Interventional Radiology Products, based on Application, includes cardiology, oncology, gastroenterology, neurology, orthopedics, urology & nephrology, and others. The cardiology category dominated the market in 2022. Cardiology issues are growing more prevalent among adults and the elderly. The necessity for excellent treatment to treat this illness increases as patient’s age increases. Because of this, many nations are attempting to increase access to interventional radiology care.

Figure 1: Interventional Radiology Products Market, by Application, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Interventional Radiology Products End User Insights

The Interventional Radiology Products Market segmentation, based on end user, includes Hospitals, Clinics and Home Care Settings. The hospitals category dominated the market in 2022 due to increase prevalence of chronic diseases and presence of skilled professionals.

Interventional Radiology Products Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America held a 45.8% market share and a USD 11.6 billion revenue lead in the market of interventional radiology products, and it will maintain this lead during the projection period. This is because the area has established healthcare infrastructure and a number of important key stakeholders. Further, the U.S. market of Interventional Radiology Products held the largest market share, and the Canada market of Interventional Radiology Products was the fastest growing market in the North America region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: INTERVENTIONAL RADIOLOGY PRODUCTS MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

The Europe Interventional Radiology Products market is anticipated to increase steadily. This is attributed to the region's growing cardiovascular disease patient population. Around 40% of adult and geriatric patients in Germany die from cardiovascular and chronic diseases. Further, the German market of Interventional Radiology Products held the largest market share, and the UK market of Interventional Radiology Products was the fastest growing market in the European region.

On the other hand, Asia-Pacific Interventional Radiology Products market is anticipated to experience the fastest growth rate over the projection period because of the region's growing senior population and increased prevalence of chronic diseases. The market is expanding primarily due to the rising geriatric population, expanding healthcare infrastructure, rising healthcare costs, and increasing acceptance of image-based therapeutic interventions. Moreover, China’s market of Interventional Radiology Products held the largest market share, and the Indian market of Interventional Radiology Products was the fastest growing market in the Asia-Pacific region.

Interventional Radiology Products Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the market of Interventional Radiology Products, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Interventional Radiology Products industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Interventional Radiology Products industry to benefit clients and increase the market sector. In recent years, the Interventional Radiology Products industry has offered some of the most significant advantages to medicine. Major players in the Interventional Radiology Products market, including Boston Scientific Corporation, Abbott, Cardinal Health, Cook, Stryker, B. Braun Melsungen AG, Terumo Corporation, General Electric, Koninklijke Philips N.V., Carestream Health, ESAOTE SPA, Hitachi, Ltd., Hologic, Inc., Shimadzu Corporation, Siemens Healthcare GmbH, CANON MEDICAL SYSTEMS CORPORATION, Samsung Medison Co., Ltd., Medtronic, Agfa-Gevaert Group, Teleflex Incorporated, Analogic Corporation, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Trivitron Healthcare, Toshiba International Corporation, and FUJIFILM Holdings Corporation, are attempting to increase market demand by investing in research and development operations.

Develops, produces, and sells printing systems and solutions under the name Konica Minolta Inc. Multifunctional peripherals (MFPs), equipment for graphic arts and production print systems, equipment for healthcare systems, and measurement tools for industrial and medical applications are all part of the company's product line. Additionally, it creates optical products, functional films, lighting source panels, and electronic materials for both industrial and commercial use. The business offers networking, services, and solutions for medical digitization. Additionally, Konica Minolta provides equipment for imaging, IoT, and visual applications. The business works through subsidiaries and affiliates in the Americas, Asia-Pacific, Europe and the Middle East, and Africa that are both consolidated and unconsolidated. The headquarters of Konica Minolta are in Tokyo, Japan's Chiyoda-ku. Konica Minolta Healthcare Americas introduced the Sonimage MX1 Platinum point-of-care ultrasound system in November 2022.

Fujifilm Holdings Corp. (Fujifilm) develops, produces, and sells imaging systems, material solutions, healthcare solutions, and document solutions. The business provides document solutions, including office supplies, printers for the workplace, allied production services, and international services. The company's main goods are color films, color paper and chemicals, photofinishing tools, electronic imaging and optical equipment, TV cameras, security lenses, healthcare items, graphic systems, flat panel display components, recording media, and industrial goods. Additionally, Fujifilm provides tools and materials for medicines, cosmetics, dietary supplements, cell culture medium and reagents, and medical systems. Both individual consumers and commercial entities are served by the corporation. The corporation operates in the Asia-Pacific, Europe, and the Americas. The headquarters of Fujifilm are in Minato-Ku, Tokyo, Japan. The Scenaria View Focus Edition Computed Tomography (CT) system, a high-end scanner with an advanced Cardiac Motion Correction function called Cardio StillShot, will go on sale in the United States in November 2022, according to a press release from Fujifilm Healthcare Americas Corporation.

Key Companies in the Interventional Radiology Products market include

• Boston Scientific Corporation


• Abbott


• Cardinal Health


• Cook


• Stryker


• Braun Melsungen AG


• Terumo Corporation


• General Electric


• Koninklijke Philips N.V.


• Carestream Health


• ESAOTE SPA


• Hitachi, Ltd.


• Hologic, Inc.


• Shimadzu Corporation


• Siemens Healthcare GmbH


• CANON MEDICAL SYSTEMS CORPORATION


• Samsung Medison Co., Ltd.


• Medtronic


• Agfa-Gevaert Group


• Teleflex Incorporated


• Analogic Corporation


• Shenzhen Mindray Bio-Medical Electronics Co., Ltd.


• Trivitron Healthcare


• Toshiba International Corporation


• FUJIFILM Holdings Corporation

Interventional Radiology Products Industry Developments

October 2022 The new Omni Legend all-digital PET/CT platform from GE Healthcare was released to improve operational effectiveness.

February 2021 The radial artery access portfolio was purchased by Medtronic (Ireland) from RIST Neurovascular, Inc. The company's product line in the market for interventional radiology goods was widened by this acquisition, which also improved its capacity to assist patients who require interventional neurovascular therapy.

Interventional Radiology Products Market Segmentation

Interventional Radiology Products Type Outlook

• Stents


• Catheters


• Inferior Vena Cava (IVC) Filters


• Embolization Devices


• Thrombectomy Systems


• Angioplasty Balloons


• Biopsy Needles


• Hemodynamic Flow Alteration Devices


• Accessories


• Other

Interventional Radiology Products Application Outlook

• Cardiology


• Oncology


• Gastroenterology


• Neurology


• Orthopedics


• Urology and Nephrology


• Others

Interventional Radiology Products End User Outlook

• Hospitals


• Clinics


• Home Care Settings

Interventional Radiology Products Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America