Interventional Radiology Market Is Anticipated To Witness High Growth Owing To Rising Prevalence Of Chronic Disorders

 
Interventional Radiology Market 


Interventional radiology is a medical specialty using minimally invasive image-guided techniques to diagnose and treat diseases in nearly every organ system. It uses a wide array of imaging modalities like X-ray, MRI, CT scan, and ultrasound to guide small, thin medical instruments such as guidewires, catheters, and balloons through tiny incisions or body's natural openings to treat diseases without requiring large and invasive surgery. Conditions such as vascular diseases, cancer, pain management, and liver conditions are commonly diagnosed and treated using interventional radiology techniques. The growing prevalence of lifestyle diseases and chronic disorders has played a major role in boosting the adoption of minimally invasive procedures in recent times. The global interventional radiology market is estimated to be valued at US$ 29856.31 Th in 2024 and is expected to exhibit a CAGR of 3.1% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the interventional radiology market are Coltene Holding, Mocom, Dentsply Sirona, Euronda, W&H Dentalwerk, Midmark Corporation, Getinge AB, Tuttnauer, Shinva Medical Instrument Co. Ltd., and MELAG Medizintechnik GmbH & Co. KG, among others. These players are focusing on new product launches and expansions to strengthen their presence. For instance, in 2022, Mocom introduced new autoclaves with advanced features.

The rising patient awareness regarding minimally invasive surgeries and growing preference for outpatient procedures represent major opportunities in the interventional radiology market. Furthermore, the increasing research and development activities are helping expand treatment options.

The key players are focusing on global expansion strategies to tap growth opportunities in emerging markets. For example, in 2021, Dentsply Sirona expanded its manufacturing facility in Europe to support the increasing demands.

Market drivers: Rising geriatric population who are more prone to chronic diseases and preference for minimally invasive surgeries over conventional open surgeries are driving the market growth.

Market restraints: High costs associated with interventional radiology procedures and equipment and shortage of skilled radiologists can hamper the market growth.

Segment Analysis
The interventional radiology market scope is dominated by the neurointerventional radiology sub-segment due to the increasing prevalence of cerebrovascular diseases across the world. Neurointerventional procedures such as embolization of brain tumors, aneurysms and arteriovenous malformations are in high demand. This sub-segment held more than 25% share of the overall market in 2024. Growth in the number of ambulatory surgical centers is also contributing to the segment's growth.

The cardiovascular interventional radiology sub-segment is the second largest owing to the rising cases of cardiovascular diseases coupled with technological advancements in minimally invasive surgeries. Procedures for treating conditions like peripheral artery disease are commonly performed in this sub-segment.

Global Analysis
North America dominated the global interventional radiology market in 2024 with a share of over 35%, owing to the increasing healthcare expenditure, rising prevalence of chronic diseases, and growing geriatric population in the US and Canada. The region will continue to grow at a steady CAGR during the forecast period.

Asia Pacific is poised to be the fastest growing region on account of growing medical tourism, improving healthcare infrastructure, and rising disposable incomes in developing countries like India and China. Availability of skilled radiologists and adoption of advanced imaging modalities are helping the regional market.

Get more insights on this topic: https://www.ukwebwire.com/interventional-radiology-market-industry-insightstrendsinterventional-radiology-market/

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