The interventional radiology products market is expected to reach USD 8.02 billion by 2021 from USD 6.35 billion in 2016, at a CAGR of 4.8%.
The major factors driving the growth of this market are rising incidence of chronic diseases, rising geriatric population, and increasing demand for minimally invasive surgeries.
The global interventional radiology products market is segmented based on type, procedure, application, and region. On the basis of type, the stents segment is expected to grow at the highest CAGR during the forecast period. The large share of the stents segment can be attributed to factors such as the increasing incidence of cardiac diseases and cancer and the growing number of angioplasty procedures, globally.
On the basis of procedure, the angiography segment is expected to account for the largest share of the market in 2016. The growing demand for minimally invasive procedures and rising geriatric population are the key factors driving market growth in this segment
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Based on application, the market is segmented into cardiology, urology & nephrology, oncology, gastroenterology, neurology, orthopedics, and other applications. In 2016, the cardiology segment is expected to account for the largest share of the market. The rising prevalence of cardiac diseases in developed as well as developing countries is a key factor driving the growth of this market segment.
Geographically, the interventional radiology products market is dominated by North America, followed by Europe, Asia, and the Rest of the World (RoW). The rising incidence of chronic diseases (CVD), the increasing demand for minimally invasive procedures, and availability of reimbursement for minimally invasive products in this region are the major factors contributing to the growth of this market.
Key players in the interventional radiology products market include Abbott Vascular (U.S.), Boston Scientific Corporation (U.S.), Medtronic plc (Ireland), Cardinal Health (U.S.), B. Braun Melsungen AG (Germany), C.R Bard (U.S.), Biosensor International Group Ltd. (Singapore), Stryker Corporation (U.S.), Terumo Corporation (Japan), and Cook Medical Inc. (U.S.).
