Interventional Radiology Market to reach 23.50 Billion USD by 2021- Rising incidence and prevalence of chronic diseases

Interventional Radiology Imaging Market by Product (MRI System, Ultrasound Imaging System, CT Scanner, Angiography System), Procedures (Angiography, Angioplasty, Biopsy) & Application (Cardiology, Oncology, Urology & Nephrology) - Global Forecast to 2021

(EMAILWIRE.COM, April 08, 2021 ) The global interventional radiology imaging market is expected to reach USD 23.50 Billion by 2021 from USD 16.99 Billion in 2016, at a CAGR of 6.7%. 

Factors Driving the Market Growth:

The major factors driving the growth of this market are rising incidence and prevalence of chronic diseases, increasing demand for minimally invasive procedures, and technological advancements.

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The product segment of the market is further divided into angiography systems, fluoroscopy systems, CT scanners, ultrasound-imaging systems, MRI systems, and other devices (C-arm, contrast media injectors, & imaging catheter guidewires). The MRI system segment is projected to witness the highest growth in this market due to technological advancements and product launches.

Based on procedure, the interventional radiology imaging industry is segmented into angiography, angioplasty, embolization, thrombolysis, vertebroplasty, nephrostomy, and other procedures (biliary drainage, fallopian tube recanalization, cholecystectomy, and carotid-cavernous fistula). Angiography segment is projected to witness the highest growth in this market due to increasing prevalence of cardiovascular diseases and the growing demand for minimally invasive procedures.

Application segment of the market is segmented into cardiology, oncology, urology & nephrology, gastroenterology, and other applications (orthopedics, neurology, and gynecology). The oncology segment is projected to witness the highest CAGR during the forecast period due to increasing incidence of cancer and rising demand for minimally invasive procedures.

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Geographically, the market is dominated by North America, followed by Europe, Asia, and the Rest of the World (RoW). Growth in North America is primarily driven by the increase in the prevalence of chronic diseases and aging population. However, the Asian market is projected to grow at the highest CAGR during the forecast period.

Leading Players Driving the Market:

Key players in the Interventional Radiology Imaging Market include GE Healthcare (General Electric Company) (U.K.), Siemens Healthcare GmBH (Siemens AG) (Germany), Koninklijke Philips N.V. (The Netherlands), Toshiba Medical Systems Corporation (Toshiba Corporation) (Japan), Hitachi Medical Corporation (Hitachi Ltd.) (Japan), Carestream Health, Inc. (U.S.), Esaote S.p.A (Italy), Hologic, Inc. (U.S.), Fujifilm Corporation (Japan), Samsung Medison (South Korea), and Shimadzu Corporation (Japan).