Global Interventional Radiology Market Huge Growth Opportunity in Coming Year

The thought of getting a surgery done is often fearful for people, however, these days, just every other thing has become easy, conduction surgeries for treating diseases has also become comparatively simpler and safer. This is due to the advent of minimally invasive surgeries, whereby the surgeon uses a number of techniques for operating with less damage to the body than is done with open surgery. Patients prefer minimally invasive surgeries because they are associated with less pain, fewer complications, and a shorter stay at hospitals. One of the minimally invasive techniques is interventional radiology.

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Interventional radiology basically refers to number of techniques that rely on the usage of radiological image guidance in order to target therapy precisely.  According to a P&S Intelligence report, in 2018, the global interventional radiology market generated a revenue of $19.0 billion and is expected to attain a value of $27.3 billion by 2024, advancing at a 6.4% CAGR during the forecast period (2019–2024). Different types of products utilized for image guidance during interventional radiology procedures are angiography systems, magnetic resonance imaging systems, ultrasound systems, and computed tomography. Because of the growing prevalence of birth disorders and chronic diseases around the world, the demand ultrasound systems is predicted to increase in the coming years.

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All these imaging systems are utilized during interventional radiology procedures for different applications including obstetrics and gynecology, cardiology, gastroenterology, oncology, urology and nephrology, and others. The requirement for interventional radiology systems is projected to rise significantly for oncology procedures because of the surging prevalence of cancer across the globe. Cancer is one of the leading causes of death worldwide, and was responsible for approximately 9.6 million deaths in 2018. While there is still no proper cure for cancer, treatments have been developed which can help manage the disease during its lower stages. The treatment often requires surgical intervention, which is why the need for interventional radiology is increasing.

For example, the APAC Society of Cardiovascular and Interventional Radiology conducted the 14th Annual Scientific Meeting for exchanging knowledge regarding cardiovascular and interventional radiology based latest applications and techniques among radiologists and medical doctors in different geographies of the region. The meeting was held on February 21st to 24th, 2019 in Indonesia, at the Bali Interventional Convention Center. Such initiatives are projected to result in the growth of the interventional radiology market in APAC.

In conclusion, the demand for interventional radiology is rising due to the rising prevalence of chronic diseases and increasing demand for minimally invasive procedures. 

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Created on May 15th 2020 04:34. Viewed 251 times.

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