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The Society of Interventional Radiology (SIR) based in the U.S. is witnessing a steady growth in the memberships worldwide. At present, there are more than 4000 members worldwide. The major types of interventional radiological procedures in practice are angioplasty, venous access, biopsy, fibroid embolization, stents, arteriogram and embolization. Image-guided interventional radiology systems assist radiologists to conduct efficient and minimally invasive surgeries with the help of guide wires, catheters and stents.
The replacement of open surgeries with minimally invasive procedures is one of the key trends in medicine industry. The increasing popularity of minimally invasive procedures has spurred the demand for hybrid operating rooms incorporating interventional radiology systems. The market for interventional radiology systems is witnessing commendable growth due to their high efficacy, technological advances and wide application areas.
Interventional radiology market can be segmented by product types, technological platforms, application areas and geographies. Various application areas of interventional radiology products comprise of neurology, cardiology, gastrointestinal and urology. The product segments comprise of guide wires, catheters and guiding catheters.
The increasing popularity of vascular closure, coronary stents and angioplasty balloons and other associated equipments ensure growth of the market in the near future. The major factors driving growth of the interventional radiology market are increasing incidence of chronic disorders, high acceptance of minimally invasive procedures, technological advances, changing lifestyle of the consumers inviting serious health conditions and high efficiency of the interventional cardiology systems. People aged 50 years and above form the major target patient population to avail the interventional radiology procedures.
The approaching market saturation, economic fluctuations and less availability are the factors which might hinder the growth of the market. Abbott Laboratories, Boston Scientific Corporation, Cordis Corporation, Medtronic, Inc. and St. Jude Medical, Inc., are some of the key players in the interventional radiology market.
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This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
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