Global $27.3 Bn Interventional Radiology Markets, 2014-2018 & 2019-2024: Increase in the Number of Product Approvals and Launches
DUBLIN, Sept. 11, 2019 /PRNewswire/ -- The "Interventional Radiology Market (2014-2024)" report has been added to ResearchAndMarkets.com's offering.
The interventional radiology market is expected to reach $27.3 billion in terms of revenue generation by 2024, witnessing a CAGR of 6.4% during the forecast period.
The key factors driving the market are increasing prevalence of chronic diseases, advancements in technology, growing aging population, and improving reimbursement rate for interventional radiology procedures.
There are different types of products available in the interventional radiology market, including magnetic resonance imaging (MRI), ultrasound, computed tomography (CT), angiography systems, and others. The market for ultrasound systems is estimated to progress substantially during the forecast period, registering a CAGR of 6.2%. The reason for such growth would be the increasing prevalence of birth disorders and chronic diseases that are boosting the demand for ultrasound systems globally.
Furthermore, the domain, on the basis of application, is categorized into cardiology, oncology, gastroenterology, urology and nephrology, obstetrics and gynecology, and others. Out of these, oncology is estimated to contribute the most significant share to the interventional radiology market in the forecast period. The oncology segment is expected to generate $5.1 billion revenue for the market in 2018 and $7.3 billion by 2024. Across the globe, the increasing prevalence of cancer has boosted this segment. Furthermore, the market for gastroenterology is also expected to experience significant growth, progressing at a CAGR of 5.9% during the analysis period.
On a global ground, North America is leading the interventional radiology market in 2018 with nearly 36.0% revenue share, and it is forecasted to contribute $9.3 billion revenue by 2024. The key factors driving the growth of the domain in the region are increasing healthcare expenditure and advanced healthcare facilities. During the analysis period, the market is predicted to grow the fastest in APAC, witnessing a CAGR of 7.9%, due to the increasing prevalence of chronic diseases, improving healthcare infrastructure, and rising geriatric population and healthcare expenditure.
Across the globe, the interventional radiology market is registering growth owing to a substantial number of new equipment being introduced by prominent players.
For instance, Canon Medical Systems Corporation, within its Vitrea platform, launched the illumination rendering technology in January 2019. This will enable real-time interaction with photorealistic images, allowing physicians to visualize patient's anatomy in all dimensions. That same year, Canon also launched the Aquilian Start CT system in Dubai.
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Regulatory Framework Analysis
4.1 U.S.
4.2 Canada
4.3 Europe
4.4 Australia and New Zealand
4.5 Japan
4.6 China
Chapter 5. Pricing Analysis
5.1 MRI Systems
5.2 CT Scanners
5.3 Ultrasound Systems
5.4 PET/CT Scanner
5.5 Digital Cath Lab for Interventional Radiology
5.6 Fluoroscopy Systems
Chapter 6. Introduction
6.1 Definition of Market Segments
6.1.1 By Product
6.1.1.1 MRI systems
6.1.1.2 CT systems
6.1.1.3 Ultrasound systems
6.1.1.4 Angiography systems
6.1.1.5 Others
6.1.2 By Procedure
6.1.2.1 Angioplasty
6.1.2.2 Biopsy and drainage
6.1.2.3 Embolization
6.1.2.4 Catheter-directed thrombolysis
6.1.2.5 Vertebroplasty
6.1.2.6 Nephrostomy
6.1.2.7 Others
6.1.3 By Application
6.1.3.1 Cardiology
6.1.3.2 Urology and nephrology
6.1.3.3 Oncology
6.1.3.4 Gastroenterology
6.1.3.5 Obstetrics and gynecology
6.1.3.6 Others
6.1.4 By End User
6.1.4.1 Hospitals
6.1.4.2 ASCs
6.2 Market Dynamics
6.2.1 Trends
6.2.1.1 Increase in the number of product approvals and launches
6.2.2 Drivers
6.2.2.1 Technological advancements in interventional radiology systems
6.2.2.2 Increasing reimbursement rate for interventional procedures
6.2.2.3 Increasing prevalence of chronic diseases
6.2.2.4 Rise in the preference of interventional procedures
6.2.2.5 Surging aging population
6.2.2.6 Impact analysis of drivers on market forecast
6.2.3 Restraints
6.2.3.1 High cost of interventional radiology systems
6.2.3.2 Diminishing helium reserves
6.2.3.3 Dearth of skilled radiologists
6.2.3.4 Impact analysis of restraints on market forecast
6.2.4 Opportunities
6.2.4.1 Scope of healthcare in rural areas
6.3 Porter's Five Forces Analysis
Chapter 7. Global Market Size and Forecast
7.1 By Product
7.2 By Procedure
7.3 By Application
7.4 By End User
7.5 By Region
Chapter 8. North America Market Size and Forecast
Chapter 9. Europe Market Size and Forecast
Chapter 10. APAC Market Size and Forecast
Chapter 11. LATAM Market Size and Forecast
Chapter 12. MEA Market Size and Forecast
Chapter 13. Competitive Landscape
13.1 Company Benchmarking Based on Offerings
13.2 Global Strategic Developments of Key Players
13.2.1 Product Launches
13.2.2 Others
Chapter 14. Company Profiles
- Samsung Electronics Co. Ltd.
- Carestream Health Inc.
- Shimadzu Corporation
- Hologic Inc.
- General Electric Company
- Koninklijke Philips N.V.
- Siemens AG
- Esaote S.p.A.
- Hitachi Ltd.
- Canon Medical Systems Corporation
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