Selbyville, Delaware, March 02, 2022 (GLOBE NEWSWIRE) --
According to a new research report by Global Market Insights Inc., the global interventional radiology market value projected to cross USD 36.7 billion by 2028 owing to the increasing prevalence of chronic diseases is likely to stimulate the demand for interventional radiology services and devices.
Technological developments in imaging technology have spurred the advancements in interventional radiology sector. Artificial intelligence is among such technologies and acting as a catalyst in medical device industry that has led to major advancements in the field of diagnostics and therapeutics. Earlier, trained clinicians visually analyzed medical images for the detection, characterization, and monitoring of diseases in radiology practice. The market players are emphasizing on the development of innovative and cost-effective interventional radiology services that is further estimated to spur the interventional radiology market landscape.
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Angiography systems segment is expected to expand at CAGR of 7.1% during the projected timeframe owing to increasing instances of cardiovascular diseases globally. Angiography is a diagnostic test for diseases such as peripheral vascular disease or atherosclerosis. It provides the radiologist an accurate result of disorder in arteries. Hence, the growing percentage of people suffering from artery diseases will use angiography systems throughout the diagnosis and treatment cycle.
Some major findings of the interventional radiology market report include:
- Advancements in imaging technology offering precise and cost-effective diagnostics solutions driving the market Statistics.
- Surging geriatric population base throughout the globe is one of the factors driving the industry outlook.
- Competitors are emphasizing on implementing strategic initiatives such as forward integration, research collaborations, product launches and geographical expansion to garner significant market share and bolster their industrial position.
Browse key industry insights spread across 230 pages with 312 market data tables & 16 figures & charts from the report, “Interventional Radiology Market Analysis By Product (MRI Systems, CT Scanners, Ultrasound Imaging Systems Angiography Systems), By Procedure (Angioplasty, Biopsy, Embolization {Peripheral Embolization, Prostatic Artery Embolization, Genicular Artery Embolization, Fibroid}, Thrombolysis, Vertebroplasty, Nephrostomy, Interventional Oncology, MSK Intervention), Application (Cardiology, Oncology, Urology, Gastroenterology, Obstetrics, Gynecology), End-use (Hospitals, Clinics, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022– 2028” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/interventional-radiology-market
Embolization segment accounted is valued at over USD 3,146 million in 2021 led by the growing instances of diseases such as osteoporosis, vascular diseases, and uterine fibroids among others. Rising percentage of osteoporosis has increased the demand for procedures including genicular artery embolization. The prevalence being higher in women as compared to men highlighted the fact that women observed higher disruption of bone microarchitecture and deterioration of bone tissues than men.
Interventional radiology market from gynecology segment is expected to reach over USD 4,343 million by 2028. The rise in the prevalence of gynecological complications such as breast cancer has increased the demand for interventional radiology. The surging percentage of people from breast cancer has in turn increased the demand for interventional breast imaging like mammogram and ultrasound. However, The American Cancer Society estimates over 287,850 new cases to be diagnosed in the year 2022 that may act as a promising factor for the segmental growth.
Clinics segment was valued at more than USD 6,346 million in 2021. The rising number of clinics with advanced diagnostics & treatment services will contribute to growing preference towards these healthcare facilities. Easy access to quality treatment for chronic diseases at affordable cost with better reliability and availability of skilled professionals is set to spur the interventional radiology market outlook in the coming years. The increasing number of urgent care clinics attributed to patient preference for convenience and affordability is augmenting the interventional radiology treatment adoption and demand statistics.
Interventional radiology market in China is estimated to surpass USD 3,396 million by 2028. The high prevalence rate of chronic diseases such as cardiovascular, neurovascular, lung cancer, COPD and urinary ailments coupled with the rapidly aging population is augmenting the demand for interventional radiology treatment in the country. Industry players are launching innovative products in the country such as advanced MRI systems, CT scanners, etc.
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Some of the major players operating in the interventional radiology industry are Koninklijke Philips, GE Healthcare, Siemens Healthineers, Fujifilm Healthcare, Canon Medical Systems Corporation, and Toshiba Medical Systems among others. These major industry players are incorporating several strategic initiatives such as mergers, acquisitions, and new product launch among other to garner more market share.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
