The global interventional radiology products market is projected to reach USD 14.1 billion by 2026 from USD 10.2 billion in 2021, at a CAGR of 6.6% during the forecast period. The growth in this market can be attributed to the rising prevalence of chronic diseases, growing geriatric population, increasing demand for minimally invasive procedures, and favorable reimbursement scenario for interventional radiology procedures. Emerging markets in Asian countries are expected to offer strong growth opportunities for players in the market. In contrast, high cost and inaccessibility of advanced therapeutics may restrict market growth to a certain extent. The interventional radiology products market is segmented based on type, procedure, application, and region.
The global interventional radiology products market is consolidated. The prominent players operating in this market include Medtronic (Ireland), Boston Scientific Corporation (US), Becton, Dickinson and Company (US), Abbott (US), Cardinal Health (US), B. Braun Melsungen AG (Germany), Stryker (US), Terumo Medical Corporation (Japan), Cook Medical (US), Biosensors International Group, Ltd. (Singapore), Teleflex Incorporated (US), iVascular S.L.U. (Spain), Penumbra, Inc. (US), and BIOTRONIK SE & Co. KG (Germany).
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Abbott Vascular (US) is the leading player in the interventional radiology products market in 2020. The company’s product portfolio for interventional radiology consists of stents, catheters, EPDs, guidewires, and vascular closure devices. The company focuses on expanding its presence in the interventional radiology products market through acquisitions. In 2018, the company acquired Cephea Valve Technologies Inc. (US) to expand its mitral valve therapy devices product portfolio.
Medtronic plc (Ireland) accounted for the high share of the interventional radiology products market in 2020. The company has a strong interventional radiology portfolio that includes stents and catheters. The company focuses on expanding its product portfolio in the market through product launches. In 2020, Medtronic launched the Onyx Drug-eluting Stent, which is used in dual antiplatelet therapy among patients with a higher risk of bleeding.
Boston Scientific Corporation (US) held the third position in the interventional radiology products market in 2020. The company has a vast product portfolio that includes stents, catheters, atherectomy devices, EPDs, and guidewires. The company focuses on agreements and collaborations to enhance its product portfolio and acquisitions to expand its business.
Interventional Radiology Products Market by type (Stents, Catheters, IVC Filter, Biopsy Needles, Embolization Devices, Accessories), Procedure Type (Angioplasty, Angiography, Thrombolysis, Embolization), Applications (Oncology) - Global Forecast to 2026
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