Interventional radiology (IR) uses angiographic X-ray-guided, catheter-based interventional procedures rather than open surgical procedures. The growth in IR has been rapid over the past decade as medicine moves toward less invasive procedures. The rising incidence of chronic diseases, rising geriatric population, and increasing demand for minimally invasive surgeries are the major driving factors of the market.According to AMA, the market for Interventional Radiology Products is expected to register a CAGR of 4.98% during the forecast period to 2026. This growth is primarily driven by Rising Prevalence and Incidence of Chronic Diseases, Growing Geriatric Population and Increasing Reimbursement for Minimally Invasive Procedures.
Globally, a noticeable market trend is evident Rising Demand for Minimally Invasive Procedures. Major Players, such as Abbott Vascular (United States), Boston Scientific Corporation (United States), Medtronic plc (Ireland), Cardinal Health (United States), B. Braun Melsungen AG (Germany), C.R Bard (United States), Biosensor International Group Ltd. (Singapore), Stryker Corporation (United States), Terumo Corporation (Japan) and Cook Medical Inc. (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
- Rising Prevalence and Incidence of Chronic Diseases
- Growing Geriatric Population
- Increasing Reimbursement for Minimally Invasive Procedures
- Rising Demand for Minimally Invasive Procedures
- Availability of Effective Conventional First-Level Treatments
Technological Advancement and Development in the Interventional Radiology Products
Entry Barriers for New Players and Product Failures and Recalls
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