The Business Research Company’s Interventional Radiology Global Market Report 2021 – COVID-19 Growth and Change
LONDON, GREATER LONDON , UK, September 13, 2021 /EINPresswire.com/ — The increasing prevalence of cancer is expected to drive the growth of the interventional radiology market in the coming years. Cancer is a global health problem and is the second leading cause of death in the United States. Interventional radiology uses a variety of techniques such as ablation, embolization, and irreversible electroporation (IRE) to treat cancer and cardiovascular disorders. For instance, according to the American Cancer Society, there were 1,806,590 new cancer cases and 606,520 cancer deaths in 2020 in the USA. New cases of leukemia, lymphoma, and myeloma are expected to account for 9.9% of the estimated 178,520 new cases diagnosed in the USA in 2020 and in approximately every 3 minutes one person in the US is diagnosed with blood cancer. Hence, the increasing prevalence of cancer drives the growth of the interventional radiology market.
The interventional radiology market consists of sales of interventional radiology products and related services by entities (organizations, sole traders, and partnerships) that deal with the diagnosis and treatment of patients using minimally invasive image-guided procedures. Interventional radiology is a medical specialty that entails a variety of imaging procedures to get images of the internal organs. These images are carefully interpreted by an interventional radiologist to identify injury and disease, as well as to execute a variety of interventional medical procedures. The market consists of revenue generated by the sales of the company’s manufacturing interventional radiology products and others.
The global interventional radiology market size is expected to grow from $17.57 billion in 2020 to $19.52 billion in 2021 at a compound annual growth rate (CAGR) of 11.1%. The growth in the interventional radiology market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The interventional radiology market is expected to reach $27.13 billion in 2025 at a CAGR of 8.7%.
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Major players covered in the global interventional radiology industry are Carestream Health, Siemens AG, Koninklijke Philips N.V., General Electric Company, Hitachi Medical Corporation, Canon Medical Systems Corporation, Toshiba Medical Systems, Medtronic plc, Shimadzu Corporation, Fujifilm Holdings Corp, Hologic Inc., Agfa-Gevert N.V, Esaote S.P.A., and Samsung Medison.
North America was the largest region in the interventional radiology market in 2020. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the interventional radiology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
TBRC’s global interventional radiology market report is segmented by product into MRI, ultrasound imaging, CT scanners, angiography systems, fluoroscopy systems, biopsy devices, others, by procedure into angioplasty, angiography, biopsy and drainage, embolization, thrombolysis, vertebroplasty, nephrostomy, others, by application into oncology, cardiology, urology and nephrology, gastroenterology, others.
Interventional Radiology Global Market Report 2021 – By Product (MRI, Ultrasound Imaging, CT Scanners, Angiography Systems, Fluoroscopy Systems, Biopsy Devices), By Procedure (Angioplasty, Angiography, Biopsy And Drainage, Embolization, Thrombolysis, Vertebroplasty, Nephrostomy), By Application (Oncology, Cardiology, Urology And Nephrology, Gastroenterology), COVID-19 Growth and Change is one of a series of new reports from The Business Research Company that provides interventional radiology global market overview, forecast interventional radiology global market size and growth for the whole market, interventional radiology global market segments, and geographies, interventional radiology market trends, interventional radiology market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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