Global Interventional Imaging Market to Grow with a CAGR of 5.35% through 2028
Surge in research and development activities is expected to drive the Global
Interventional Imaging Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Interventional
Imaging Market – Global Industry Size, Share, Trends, Competition Forecast
& Opportunities, 2028”, the Global Interventional Imaging Market stood
at USD 23.87 billion in 2022 and is anticipated to grow with a CAGR of 5.35% in
the forecast period, 2023-2028. The initiatives taken by government based on interventional
imaging has led to favorable market conditions for the Global Interventional
Imaging Market. Several factors contribute to the growth of various interventional
imaging market products.
The U.S.
government has implemented a comprehensive regulatory scheme for interventional
radiology equipment, encompassing federal, state, and local aspects. This multi-layered
approach is designed to meticulously oversee and safeguard the safety, quality,
and efficacy of these medical devices, ensuring that patients receive the
highest standard of care.
The American
College of Radiology passionately advocates for increased federal funding of
imaging research, recognizing the pivotal role it plays in advancing medical
knowledge and improving patient outcomes. As a major source of funding for
medical research, including crucial imaging studies, the U.S. government's continued
investment in this field holds tremendous potential for groundbreaking
discoveries, innovative technologies, and enhanced diagnostic capabilities.
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The rising
geriatric population, characterized by a significant increase in the number of
older adults, has created a substantial demand for interventional radiology
products. This demand is further fueled by a favorable reimbursement environment,
which incentivizes healthcare providers to invest in these innovative
solutions.
In response to
this growing market need, companies are channeling substantial investments into
research and development (R&D) efforts. These investments aim to develop
advanced and cost-effective imaging solutions that cater to the specific
requirements of the aging population. By focusing on R&D, companies not
only address the current needs of the market but also proactively anticipate
and prepare for future market trends.
This emphasis on
R&D underscores the commitment of companies in the interventional radiology
sector to continuous innovation and improvement. By staying at the forefront of
technological advancements, these companies ensure sustained growth and relevance
in an ever-evolving healthcare landscape.
The Global
Interventional Imaging Market is segmented into offering, application, regional
distribution, and company.
Based on its offering, the CT scanners segment held
the largest share in the market. The rising demand for cardiac CT scans is one
of the key factors fueling the growth of the CT scanner market. As the
prevalence of cardiovascular diseases continues to increase, there has been a
surge in the number of referrals for cardiovascular imaging. These cases often
require advanced imaging technologies like CT scanners to accurately diagnose
and evaluate the complexity of the conditions.
With their ability to provide detailed and
high-resolution images of the heart and blood vessels, CT scanners have become
indispensable tools in modern healthcare, enabling healthcare professionals to
make informed decisions and provide optimal patient care.
Based on region, North America segment is expected to
grow during the forecast period.
In addition to North America's dominance in the
market, government support plays a crucial role in shaping this position.
Through favorable policies and funding initiatives, the government fosters
research and development in the field of interventional imaging technologies.
This support not only encourages the creation of advanced technologies but also
facilitates their adoption, further solidifying North America's leadership in
the market. By nurturing innovation and providing resources, the government acts
as a catalyst for the continuous growth and advancement of the industry.
Major companies operating in Global Interventional Imaging
Market are:
- Becton,
Dickinson and Company
- Canon
Inc.
- Esaote
SpA
- FUJIFILM
Holdings Corporation
- Hologic,
Inc.
- Intuitive
Surgical, Inc.
- Koninklijke
Philips NV
- Medtronic
plc
- Siemens
Healthineers AG
- Stryker Corporation
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“Growing application of interventional imaging in
various end user industries are key drivers of the interventional imaging market.
Growth in competitive landscape and presence of well-established companies in
the market who are dedicated to enhance their productivity of interventional imaging
with every passing year are anticipated to register an impressive growth to Global
Interventional Imaging Market in the forecast period.,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“Global Interventional Imaging Market By Offering (CT
Scanners, X-Ray Systems, MRI Systems, Ultrasound Imaging Systems, Others), By Application
(Cardiology, Neurology, Musculoskeletal, Oncology, Urology, Gastroenterology,
Obstetrics, Gynecology, Others), By
Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Interventional Imaging Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Interventional Imaging Market.
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