The global interventional radiology market is anticipated to grow at a lucrative rate during the forecast period. Interventional radiology is emerging as one of the most preferred diagnostic and therapeutic procedures owing to the advantages such as minimally invasiveness, accuracy, and short hospital stay.
Rise in awareness about early and preventive diagnosis and demand for non-surgical treatment alternatives on the global scale is also affecting the market growth. The growing application scope of interventional radiology is also expected to stimulate the market in the forecast period.
An increase in the number of uterine fibroids cases among women is expected to increase the demand for interventional radiology in near future. Moreover, a collaboration of various interventional radiology societies such as Cardiovascular and Interventional Radiological Society of Europe, British Society of Interventional Radiology, and Société Française de Radiologie is expected to boost technological advancements and introduction of new products during the forecast period.
Magnetic resonance angiography (MRA) is anticipated to show substantial growth in the forthcoming years due to its high effectiveness. It ensures complete safety and is an ideal option for the detection of diseases such as kidney, liver, and pelvic disorders. Similarly, magnetic resonance guidance offers real-time monitoring and temperature mapping without contacting ionizing radiation, helping surgeons with the surgery.
Based on the application, the interventional radiology market is segmented as angiography, embolization, angioplasty, biopsy and drainage, nephrostomy, thrombolysis, and vertebroplasty. Angiography is expected to witness significant growth during the forecast period owing to its increasing preference by radiologists due to real-time imaging for improved treatment.
Moreover, owing to the rise in cases of cancers, embolization is also expected to witness impressive growth in the next seven years. As per the World Health Organization (WHO), cancer is the second major cause of death worldwide. Especially in the U.S., increasing prevalence of cancer in men and women is majorly driving the interventional radiology market in the region.
Regionally, the interventional radiology market is segmented as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to hold a larger share of the market due to the increasing adoption of modern imaging techniques and innovative medical products. The key players profiled in the market comprise Philips Healthcare, Medtronic plc, Siemens Healthcare, Toshiba Medical Systems, Agfa-Gevert N.V, Hitachi Medical Corporation, Fujifilm Holdings, and Teleflex Incorporated.
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