Global Interventional Radiology Devices Market 2017-2021
About Interventional Radiology Devices
IR, which is also known as vascular radiology, is a branch of medical imaging, which provides Mi image-guided diagnosis and treatment of diseases of almost all organs. Interventional radiologists perform extensive procedures that are less painful and provide faster recovery and better outcomes when compared with open surgeries. IR minimized risk by using image guidance and MI techniques. Interventional radiologists interpret diagnostic images, manipulate needles, and use fine catheter tubes and wires to navigate around the body. They specialize in radiology and interventional therapy. Vascular, hepatobiliary, gastrointestinal, genitourinary, musculoskeletal, pulmonary, and, central nervous system (CNS)-related diseases can be diagnosed and treated using IR devices.
Technavio’s analysts forecast the global interventional radiology devices market to grow at a CAGR of 4.28% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global interventional radiology devices market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of IR devices.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Interventional Radiology Devices Market 2017-2021
Technavio recognizes the following companies as the key players in the global interventional radiology devices market: Abbott, B. Braun, Boston Scientific, Cardinal Health, and Medtronic.
Other Prominent Vendors in the market are: Alvimedica, Amecath, AngioDynamics, Balton, BrosMed Medical, Biosensors International, BIOTRONIK, COOK, C. R. Bard, ENDOCOR, JOTEC, Koninklijke Philips, Meril Life Sciences, Merit Medical Systems, MicroPort Scientific, ORZONE, OrbusNeich, Rontis, Stryker, and Terumo Medical.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increasing number of M&A. Companies are adopting to M&A to expand their global presence and increase their product offerings and market share. M&A enable companies to exchange technology and R&D capabilities. For instance, Boston Scientific is focusing on increasing M&A to improve its global presence. Similarly, Abbott is also focusing on M&A to increase its global presence.”
According to the report, one of the major drivers for this market is Increasing demand for MI procedures. Globally, the demand for MI procedures is increasing. MI procedures reduce physical trauma and the risk of infections, which enables early recovery. MI procedures offer certain benefits such as lower cost, shorter hospital stay, greater comfort, and quick recovery. MI procedures have better effectiveness when compared with traditional procedures. The cost of MI procedures can be higher when compared with other conventional procedures.
Further, the report states that one of the major factors hindering the growth of this market is Deficit of IR consultants. Interventional radiologists are radiology experts that perform a wide range of interventional procedures and interpret the results accurately. Interventional radiologists are often required for clinical sub-specialties. The growth of the aging population is a major cause for the shortage of IR consultants. The need for interventional radiologists has also increased in rural areas. According to the American Association of Medical Schools (AAMC), by 2025, the demand for physicians will exceed supply by 61,700 to 94,700. The shortage of interventional radiologists is higher in EMEA. Hence, the shortage of IR consultants is a challenge for the growth of the market.
Abbott, B. Braun, Boston Scientific, Cardinal Health, Medtronic, Alvimedica, Amecath, AngioDynamics, Balton, BrosMed Medical, Biosensors International, BIOTRONIK, COOK, C. R. Bard, ENDOCOR, JOTEC, Koninklijke Philips, Meril Life Sciences, Merit Medical Systems, MicroPort Scientific, ORZONE, OrbusNeich, Rontis, Stryker, and Terumo Medical.
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