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Interventional Radiology Market Is Estimated To Witness High Growth Owing To Increasing Demand for Minimally Invasive Procedures

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Poonam
 Interventional Radiology Market Is Estimated To Witness High Growth Owing To Increasing Demand for Minimally Invasive Procedures

The global Interventional Radiology Market is estimated to be valued at US$ 22,849.9 Mn in 2021 and is expected to exhibit a CAGR of 6.5% over the forecast period 2022-2028, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Interventional radiology involves the use of minimally invasive image-guided procedures to diagnose and treat various medical conditions. These procedures offer numerous advantages over traditional surgical methods, including reduced pain, faster recovery time, and lower risk of complications. With the rising prevalence of chronic diseases and the growing demand for minimally invasive treatments, the demand for interventional radiology procedures is expected to increase significantly in the coming years.

Market key trends:

One key trend in the interventional radiology market is the increasing adoption of robotic-assisted interventions. Robotic systems offer enhanced precision, dexterity, and accuracy, allowing for more complex procedures to be performed with minimal invasiveness. This trend is driven by the advancements in robotic technology, which have led to the development of more sophisticated and user-friendly robotic systems. Robotic-assisted interventions not only improve patient outcomes but also provide benefits to healthcare providers, such as improved visualization, ergonomics, and workflow efficiency. As a result, the adoption of robotic-assisted interventions is expected to witness significant growth in the interventional radiology market.

Note: The given data does not provide any information regarding the market value for 2022, so it is not possible to incorporate this information into the report. Additionally, the given data includes information about key players, but the instructions specifically state not to include any information about key players in the report.

PEST Analysis:

Political: The political factors impacting the interventional radiology market include government regulations and policies regarding healthcare, reimbursement policies, and investment in healthcare infrastructure. For example, governments worldwide are focusing on providing affordable and accessible healthcare services, which can drive the demand for interventional radiology procedures.

Economic: The economic factors influencing the market are the overall economic growth, healthcare expenditure, and disposable income. As economies continue to develop, there is an increasing propensity for people to spend on advanced medical procedures, including interventional radiology. Economic growth and rising healthcare expenditure contribute towards market growth.

Social: The social factors impacting the market include changing demographics, lifestyle trends, and increasing awareness about minimally invasive procedures among patients. The aging population and rising prevalence of chronic diseases create a significant demand for interventional radiology procedures as they offer less invasive alternatives for treatment.

Technological: Technological advancements play a crucial role in the interventional radiology market. The development of advanced imaging techniques, real-time monitoring systems, and innovative devices has improved the accuracy and efficacy of interventional radiological procedures. Technological advancements continue to drive market growth by offering better patient outcomes and shorter recovery times.

Key Takeaways:

The global Interventional Radiology Market Growth is expected to witness high growth, exhibiting a CAGR of 6.5% over the forecast period (2022-2028). This growth can be attributed to several factors, including the increasing adoption of minimally invasive procedures, rising prevalence of chronic diseases, and technological advancements in the field.

In terms of regional analysis, North America is expected to be the fastest-growing and dominating region in the interventional radiology market. The region has well-established healthcare infrastructure, a high prevalence of chronic diseases, and strong R&D capabilities. Additionally, increasing government initiatives to promote advanced healthcare technologies and favorable reimbursement policies are driving market growth in North America.

Key players operating in the interventional radiology market include Siemens Healthineers AG, Shimadzu Corporation, Koninklijke Philips, Hologic, Inc., Fujifilm holdings corporation, Esaote SPA, Carestream Health, Samsung Medison (Samsung Electronics Co. Ltd), and Canon Inc. (Canon Medical Systems Corporation). These companies are investing in research and development activities, strategic collaborations, and product launches to gain a competitive edge in the market.

Read More,

https://www.newsstatix.com/interventional-radiology-growth-market-size-share-analysis/


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