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Interventional Radiology Products Market | Global Growth Analysis

The interventional radiology products market is expected to reach USD 8.02 Billion by 2021 from USD 6.35 Billion in 2016, at a CAGR of 4.8%. This market is segmented based on type, procedure, application, and region.
The major factors driving the growth of this market are rising incidence of chronic diseases, rising geriatric population, and increasing demand for minimally invasive surgeries. However, new players in the interventional radiology sector face significant entry barriers; this is a key challenge in the market.
Based on type, the market is segmented into stents, catheters, IVC filters, hemodynamic flow alteration devices, angioplasty balloons, thrombectomy systems, embolization devices, biopsy needles, and accessories. In 2016, the stents segment is expected to dominate the global market. The key factors driving the growth of the interventional radiology stents market are the growing geriatric population and increasing incidence of cardiovascular diseases around the world.
Based on procedure, the market is segmented into angioplasty, angiography, embolization, thrombolysis, biopsy & drainage, vertebroplasty, nephrostomy, and other applications. In 2016, the angiography segment is expected to account for the largest share of this market. The growing demand for minimally invasive procedures and rising geriatric population are the key factors driving market growth in this segment.
Based on application, the market is segmented into cardiology, urology & nephrology, oncology, gastroenterology, neurology, orthopedics, and other applications. The oncology segment is expected to grow at the highest CAGR during the forecast period. The major factors driving the growth of this market segment are the increasing incidence of cancer and rising demand for minimally invasive procedures.
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