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The report “Interventional Radiology Market by Product (MRI System, Ultrasound Imaging System, CT Scanner, Angiography System), Procedures (Angiography, Angioplasty, Biopsy) & Application (Cardiology, Oncology, Urology & Nephrology) – Global Forecast to 2021”, The report provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the interventional radiology imaging market along with the estimates and forecasts of the revenue and market share analysis.
The global interventional radiology imaging market is expected to reach USD 23.50 Billion by 2021 from USD 16.99 Billion in 2016, at a CAGR of 6.7%.
What drives the market?
• Rising Incidence and Prevalence of Chronic Diseases
• Increasing Demand for Minimally Invasive Procedures
• Technological Advancements in Interventional Radiology Devices
The product segment of the market is further divided into angiography systems, fluoroscopy systems, CT scanners, ultrasound-imaging systems, MRI systems, and other devices (C-arm, contrast media injectors, & imaging catheter guidewires). The MRI system segment is projected to witness the highest growth in this market due to technological advancements and product launches.
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Challenges in the market
• Entry Barriers for New Players
• Hospital Budget Cuts
• Increasing Adoption of Refurbished Interventional Radiology Systems
Application segment of the market is segmented into cardiology, oncology, urology & nephrology, gastroenterology, and other applications (orthopedics, neurology, and gynecology). The oncology segment is projected to witness the highest CAGR during the forecast period due to increasing incidence of cancer and rising demand for minimally invasive procedures.
Based on geography, the market is segmented into North America, Europe, Asia, and the Rest of the World. Asia segment is expected to grow at the highest CAGR during the forecast period. Growth in this segment is driven by various factors such as the rising incidence and prevalence of chronic diseases and the growing focus of market leaders as well as domestic players in this region.
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Key Players
The key players in the market include GE Healthcare (General Electric Company) (U.K.), Siemens Healthcare GmBH (Siemens AG) (Germany), Koninklijke Philips N.V. (The Netherlands), Toshiba Medical Systems Corporation (Toshiba Corporation) (Japan), Hitachi Medical Corporation (Hitachi Ltd.) (Japan), Carestream Health, Inc. (U.S.), Esaote S.p.A (Italy), Hologic, Inc. (U.S.), Fujifilm Corporation (Japan), Samsung Medison (South Korea), and Shimadzu Corporation (Japan).
Most recent Study on Industrial Growth of Global ICU Equipment Carrier Market 2020-2025. A point by point study gathered to offer Latest knowledge about intense highlights of the ICU Equipment Carrier market. The report contains distinctive market expectations identified with CAGR, income, production, Consumption, market size, gross margin, cost and other considerable elements.
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MAQUET Holding, J.M. Keckler Medical Company Inc., Skytron LLC., Stryker Corporation
North America, Asia-Pacific, UK, Europe, Central & South America, Middle East & Africa
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Most recent Study on Industrial Growth of Global Hyperthermia Systems Market 2020-2025. A point by point study gathered to offer Latest knowledge about intense highlights of the Hyperthermia Systems market. The report contains distinctive market expectations identified with CAGR, income, production, Consumption, market size, gross margin, cost and other considerable elements.
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Cincinnati Sub Zero, Dr. Sennewald Medizintechnik GmbH., Medica S.p.A., Memorial Health Services, Pyrexar Medical Inc., Thermofield
North America, Asia-Pacific, UK, Europe, Central & South America, Middle East & Africa
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The coronavirus-related restrictions imposed by governments throughout the world have severely affected the economic activity in all sectors. Almost every industry is facing challenges, as businesses are closing down and consumers are reluctant. The beauty and cosmetics sectors were also affected, and multiple companies report a drop in sales.
Beauty parlors, dermatologists, hair stylists, and makeup artists are getting fewer clients when compared to similar periods in 2019. The beauty sector is particularly affected by the restrictions, as the service must be provided directly to the client. Remote procedures are virtually impossible – only teledermatology can be an alternative for dermatology clinics. All other procedures must be done directly to the client, so social distancing is impossible.
Special offers and reduced rates are common in this niche, as beauty parlors and spas are struggling to attract new clients. Some of the most attractive procedures are lip fillers and botox treatments. Even during the pandemic, these procedures are attractive, especially when they come with important discounts. Influencers and social media stars are a major part of this trend, as they are the prime clients for these services.
Marcus, an influencer who is using a pseudonym in order to avoid reprisal from sponsors or business partners, has regular botox treatment appointments at Image Center, a major aesthetics center in Huntington Beach, California. He is one of the hundreds of patients who are still going to their regular appointments even during the pandemic. Marcus wants to fill in his cheeks and chin but also considers getting a filler for the under-eye area. Many clients want the same type of service and the reason is simple: they do work, the results are immediate and the costs are minimal.
Although many states have imposed strict stay-at-home orders, many dermatology clinics and beauty spas are open. Various procedures are available, including platelet-rich plasma therapy, using real blood to make the skin smoother. YouTubers, Facebook, and Instagram influencers want to improve their looks and want to feel better, so these procedures are still popular, even during the pandemic. It may sound vain, but influencers are making a living based on their appearance, which must be excellent. The shocking aspect is that, even during the pandemic, when non-essential businesses are shut down, influencers still have no problem finding service providers. Some dermatologists are still active and are willing to accept patients, even for non-essential treatments.
Lip fillers and botox treatments are essentially injectables, so they are considered simple medical procedures. This makes them very attractive for influencers and the general public. The procedures were moderately attractive even before the rise of social media, but now the market is massive. The major boost in the industry was the hugely popular Instagram Face (also known as the Kylie Jenner Face) – the face marked by cherubic cheeks, a hefty pout, and a subtle smile. Although many beauty spas are closed, some are active and they are becoming very busy. The problem is that it’s very difficult to stop the spread of the coronavirus in a beauty spa. After all, the cosmetician or dermatologist who is doing the procedure sits next to the client. Social distancing is impossible during the actual procedure. Similarly, you can’t ask these clients to wear a face mask during the procedure.
Major beauty spas are open, especially in highly populated areas. For instance, Youthfill, a large beauty spa located in West Hollywood, is open and actively advertises its services on Instagram and Facebook. They provide various LASER treatments, botox fillers, and liposuction at heavily discounted prices. Youthfill, like many other beauty spas, don’t provide all the services (full-body massages or facials are not available during this period), but they provide medical services, like simple surgical procedures, such as botox injections.
Unfortunately, there are beauty spas that operate, but under the radar. They are open only for their established clientele, which often includes social media influencers, VIPs, and celebrities. These clinics are open, even though they are officially closed, or open only for emergencies. There’s an interesting aspect – many clients feel reluctant to open up to the public and admit that they are regular beauty parlor clients even during the pandemic. The reason is quite obvious – there is a wholly justifiable stigma of defying public health guidelines for non-essential reasons. And many people consider lip fillers and botox injections as non-essential treatments. But are they essential or non-essential?
No matter what your answer to this question is, many influencers are still getting beauty spa treatments. Many of them are even taking advantage of private recovery time. After all, the lockdown comes with some major benefits – you stay at home and focus on recovering from this type of simple medical procedure. A small number of influencers are even getting invasive plastic surgery and are prepared to travel internationally. South Korea is a major hub for anyone who wants to boost their looks. There are thousands of beauty spas and the services start from simple massages and facials to complex plastic surgery procedures.
Cosmeticians and dermatologists say they have many well-heeled clients who hope to avoid the unwashed masses when visiting the local beauty spa. They are even making sky-high offers to beauticians to have direct house calls. Although it seems ridiculous, some clients are willing to get cosmetic treatments in their own homes. And they want almost everything – from basic botox injections and fillers to LASER procedures. This obviously means a doctor has to bring the LASER machine to a client’s home. Fortunately, most cosmeticians refuse these offers, but you’d be surprised to know that some are willing to accept.
There’s another worrying aspect – some dermatology clinics are selling syringes filled with dermal fillers for just a few hundred dollars. This is a risky approach, but clients exist and they are willing to spend whatever it takes to get the results. In many jurisdictions, this activity is illegal, as manufacturers are only supposed to sell to certified medical suppliers.
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