Interventional radiology market expected to reach USD 45,615.68 Million by 2032, growing at 5.7% CAGR.
From GlobeNewswire: 2024-11-27 07:33:00
In 2023, the Global Interventional Radiology Market was valued at USD 26,078.20 Million and is expected to reach USD 45,615.68 Million at a CAGR of 5.7% during 2024-2032, according to a report by IMIR Research Pvt. Ltd. The market is growing due to advancements in imaging technology and the increasing demand for minimally invasive procedures.
The major product categories in the interventional radiology market include MRI systems, ultrasound imaging systems, CT scanners, angiography systems, fluoroscopy systems, biopsy systems, and other specialized equipment. These are used in various procedures such as angiography, angioplasty, embolization, biopsy, vertebroplasty, thrombolysis, and nephrostomy placement in medical specialties like oncology and cardiology.
The market is segmented into different age groups to understand consumer behavior towards products and raw materials. The report provides insights into market size, key drivers like technological advancements and rising chronic diseases, as well as opportunities like integration of AI and expansion of telemedicine in the interventional radiology market.
Technological advancements in interventional radiology are driving significant growth in the industry, enhancing patient outcomes and expanding the range and safety of procedures. Rising prevalence of chronic diseases is also fueling market expansion, with an aging population and lifestyle changes contributing to the demand for minimally invasive interventions.
Market segmentation includes products like Catheters, Stents, and Hemodynamic Flow Alteration Devices, while applications range from cardiology to urology and oncology. MRI plays a crucial role in interventional radiology, offering better resolutions without ionizing radiation, with growing demand for non-invasive diagnostics driving the need for advanced imaging technology.
Regionally, North America leads the interventional radiology market, with strong healthcare infrastructure and high demand for minimally invasive procedures. Europe follows with a focus on medical imaging technologies, especially in cancer treatments. Asia-Pacific is expected to see the highest growth due to rising health expenditures and awareness of IR benefits.
Key players in the interventional radiology market include Agfa-Gevaert Group, Canon Medical Systems Corporation, and Siemens Healthineers, among others. Recent developments include Canon establishing Canon Healthcare USA, INC, and Siemens Healthineers introducing the Symbia Pro.specta SPECT/CT system.
For more detailed insights and market analysis, access the full report at the provided link. IMIR Market Research Pvt Ltd. is a market intelligence and consulting organization known for actionable insights and authentic reports in various domains. Contact them for further information or inquiries.
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