Industry Growth Analysis and Opportunities of Interventional Radiology Products Market

(I-BusinessNews.Com, July 28, 2021 )  The global interventional radiology products market is projected to USD 14.1 billion by 2026 from USD 10.2 billion in 2021, at a CAGR of 6.6% during the forecast period Rising prevalence of chronic diseases, growing geriatric population, increasing demand for minimally invasive procedures and favorable reimbursement scenario for interventional radiology procedures are the major factors driving the growth of the interventional radiology products market.

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OPPORTUNITY: Emerging markets

Emerging markets such as China, India, and Brazil offer significant growth opportunities for players operating in the interventional radiology products market. These countries are expected to witness high growth in the coming years, owing to the presence of less stringent regulatory policies and low competition. To leverage the high-growth opportunities in these markets, manufacturers are strategically focusing on expanding their presence in developing countries. Moreover, the increasing competition in mature markets is further compelling interventional radiology device manufacturers to focus on emerging markets.

North America was the largest regional market for interventional radiology products market in 2020.

The interventional radiology products is segmented into North America, Europe, the Asia Pacific, and the Rest of the World. In 2020, North America was the largest regional segment of the overall market, followed by Europe. The large share of the North American market can be attributed to the high prevalence of chronic diseases, growing geriatric population, increasing adoption of minimally invasive procedures, and the presence of key players in the region.

Key Market Players

The prominent players operating in this market include Abbott (US), Medtronic (Ireland), Boston Scientific Corporation (US), Becton Dickinson and Company (US), Terumo Medical Corporation (Japan), and Cardinal Health (US)

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