Americas Interventional Radiology Market Size and Share Will Grow at a CAGR of 5.12% By 2023

Americas Interventional Radiology Market Size and Share Will Grow at a CAGR of 5.12% By 2023

“Americas Interventional Radiology Market”
Americas Interventional Radiology Market Analysis By Key Players, Trends, Insights, Dynamics, Future Outlook, Applications and Segmentation, Forecast to 2023

Americas Interventional Radiology Growth, Size and Insights By Type (MRI, Ultrasound imaging, CT scan, angiography), by Procedure (diagnostic, therapeutic), by Application (cardiology, oncology, urology & nephrology), by End User (hospitals, catheterization labs, and ambulatory surgical centers) – Forecast to 2023

The Americas Interventional Radiology Market size is expected to exhibit a CAGR of 5.12% over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The Americas interventional radiology market is mainly driven by the growing demand for noninvasive and minimally invasive diagnostic procedures in the U.S. and Canada, which has resulted in strong product development in the field of interventional radiology.

The increasing use of interventional radiology in cancer-related operations is likely to be a major driver for the Americas interventional radiology market over the forecast period. Interventional radiology is used in the diagnosis as well as treatment of cancer. The growing demand for minimally invasive diagnostic processes for cancer is likely to drive further product development and refinement in the Americas interventional radiology market in the coming years. Many leading players have focused on cancer diagnostics and therapeutics as a surefire way of earning significant revenue and have thus funded significant projects into developing safe and noninvasive cancer diagnosis tools. Product development in interventional radiology devices is likely to remain a strong theme in the Americas interventional radiology market over the forecast period.

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The growing demand for interventional radiology techniques such as MRI and CT scans is likely to drive the Americas interventional radiology market over the forecast period. MRI and CT scans are widely used in the diagnosis of cardiovascular and neurological disorders, making them a highly popular diagnosis tool. The growing prevalence of cardiovascular and other lifestyle-associated diseases in North America, particularly the U.S., is likely to be a major driver for the interventional radiology market in the Americas over the forecast period. Growing consumption of tobacco and the increasing sedentary lifestyle have led to a growing prevalence of lifestyle-associated diseases in the U.S. This is likely to lead to a growing demand for interventional radiology procedures in the coming years.

Interventional Radiology Market Competitive Analysis:

Leading players in the Americas interventional radiology market include Cook Medical Inc., Stryker, C. R. Bard Inc., B. Braun Melsungen AG, Cardinal Health, Hologic Inc., Carestream Health, Hitachi Medical Corporation, Toshiba Medical Systems Corporation, Siemens Medical Solutions USA Inc., and General Electric.

In July 2019, the Herbert Wertheim College of Medicine became one of the first in the country to have an interventional radiology department. Steady growth is expected in this sector in the coming years as an increasing number of research institutes seek to incorporate advanced methodology and processed into their day to day functioning.

Interventional Radiology Market Segmentation:

The Americas interventional radiology market has been segmented on the basis of type, procedure, application, end user, and region.

On the basis of type, the Americas interventional radiology market is segmented into MRI, ultrasound imaging, CT, and angiography.

On the basis of procedure, the Americas interventional radiology market is segmented into diagnostic and therapeutic procedures. Diagnostic procedures include angiography, cholangiography, and biopsy. Therapeutic procedures include vascular, catheter placement, ablative, genitourinary, and pain management.

On the basis of application, the market is segmented into cardiology, oncology, urology, nephrology, others.

On the basis of end user, the Americas interventional radiology market is segmented into hospitals, catheterization labs, and ambulatory surgical centers.

Interventional Radiology Market Regional Analysis:

North America is likely to hold on to the largest share in the Americas interventional radiology market over the forecast period due to the growing demand for advanced medical procedures in the region’s developed economies. The growing demand for technological progression in the medical devices sector has led to widespread availability of advanced diagnostic tools such as CT and MRI, leading to a growing demand from the interventional radiology market.

The growing prevalence of cardiovascular conditions, diabetes, and cancer in this region is also likely to present significant scope for growth of the interventional radiology market in the region. Increasing healthcare expenditure in the U.S. and Canada is also likely to be a key driver for the interventional radiology market over the forecast period.

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