Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Biliary Interventional Radiology Devices Market size is projected to witness lucrative growth rate during the forecast period i.e., between 2025-2037.
Increasing prevalence of cancer, chronic diseases, and growing geriatric population to contribute the market growth. The rapidly increasing elderly population and consequent increase in prevalence of age-related diseases, along with advancement of technologies are expected to fuel the progress of this market. The elderly population is more vulnerable to chronic diseases such as arthritis and cardiovascular diseases which is estimated to support the growth of the radiology devices market.
The growth of the biliary interventional radiology devices market can also be attributed to the factors such as increasing need for early diagnosis of the disease along with greater research spending by governments and private organizations. The increase in research funding by the government and other organizations has led to the technological advancements in radiology devices. In 2018, the EU spent almost USD 348 billion on research & development. In India, health research allocation is around USD 360 million for financial year 2021-2022. Additionally, the rise in growth opportunities in developing countries, along with the rapid increase in awareness about the need for radiology devices are projected to boost the market.
Biliary Interventional Radiology Devices Sector: Growth Drivers and Challenges
Growth Drivers
- Rising Prevalence of Cancer and Chronic Diseases
- Increasing Geriatric Population in the World
- Advancement in Technologies
Challenges
- Expensive Treatment Therapies
- Lack of Awareness About the Disease in Lower Economic Regions
Biliary Interventional Radiology Devices Segmentation
The biliary interventional radiology devices market is segmented based on product type into angiography systems, fluoroscopy systems, CT scanners, MRI systems, ultrasound-imaging systems, and others, out of which MRI systems hold the highest share in the market. Advancement in technologies and new product launches attribute the market growth.
On the basis of procedure, the biliary interventional radiology devices market is segmented into angiography, angioplasty, embolization, thrombolysis, vertebroplasty, nephrostomy, and others. Angiography is projected to grow significantly over the forecast period. Due to, rising prevalence of cardiovascular diseases and the growing demand for minimally invasive procedures.
Based on application, the market is segmented into cardiology, oncology, urology & nephrology, gastroenterology, and others. Out of which, oncology holds the highest share in the market due to the rising prevalence of cancer, rising research initiatives, and growing geriatric population.
On the basis of end-user, the market is segmented into general medical & surgical hospitals, specialty hospitals, clinics, and others. Specialty hospitals hold the highest share in the market as a considerable portion of the population with chronic diseases on a global level tend to choose healthcare facilities specializing in its treatment.
Our in-depth analysis of the global market includes the following segments
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By Product Type |
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By Procedure Type |
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By Application
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By Application
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By End User
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Vishnu Nair
Head - Global Business DevelopmentCustomize this report to your requirements — connect with our consultant for personalized insights and options.
Biliary Interventional Radiology Devices Industry - Regional Synopsis
APAC Market Statistics
Asia Pacific industry is estimated to hold largest revenue share by 2037, owing to increased spending by governmental and non-governmental agencies on improving healthcare infrastructure in the region. The healthcare spending as percentage share of GDP for Asia Pacific countries has been increasing in the recent years.
North America Market Analysis
Furthermore, in 2021, the market in North America is evaluated to occupy the largest share in terms of revenue, owing to the growing investment of governmental and non-governmental agencies in cancer research, accompanied by the presence of leading healthcare service providers in the region. Along with this, the North America also leads in terms of ongoing clinical trials, which is also expected to contribute to the market growth in the region. High prevalence of chronic diseases within the region also anticipate the market growth. As per the reports published by Centers of Disease Control and Prevention in 2019, around 65% of Americans aged 65 years or above suffered from chronic pain. In addition, neuropathic pain affects 3-17% of adults. Alternatively, the market in Europe is also anticipated to occupy a significant share in the market on account of rising use of minimally invasive procedures and high prevalence of chronic diseases in the region.
Companies Dominating the Biliary Interventional Radiology Devices Landscape
- Abbott
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- GE Healthcare (General Electric Company)
- Siemens Healthcare GmBH
- Royal Philips
- Toshiba Medical Systems Corporation
- Hitachi Medical Corporation
- Carestream Health, Inc.
- Esaote S.p.A
- Hologic, Inc.
- Fujifilm Corporation
Recent Developments
- April 2021: Royal Philips a global leader in health technology, and Ibex Medical Analytics, a pioneer in artificial intelligence (AI) based cancer diagnostics, announced collaboration to jointly promote their digital pathology and AI solutions to hospitals, health networks and pathology labs worldwide.
- November 2020: Abbott announced the launch of the IonicRF™ Generator. It is recently cleared by the U.S. Food and Drug Administration to deliver a non-surgical, minimally invasive treatment for the management of pain in the nervous system. The IonicRF Generator is a radiofrequency ablation device that uses heat to target specific nerves and block pain signals from reaching the brain.
- August 2019: NinePoint Medical, Inc., announced that it has received U.S. Food and Drug Administration clearance to market the NvisionVLE Imaging System for use in the pancreas and bile duct.
Author Credits:
- Report ID: 3162
- Published Date: Dec 24, 2024
- Report Format: PDF, PPT
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Biliary Interventional Radiology Devices Market Report Scope
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