Interventional Radiology Drainage Surgery Market: Introduction

According to the report, the global interventional radiology drainage surgery market is valued at US$670 million in 2020 and is expected to grow at a compound annual growth rate of approximately 7% from 2021 to 2031. An abscess is a collection of infected fluid in the body. Percutaneous abscess drainage uses image guidance to pass a needle or catheter through the skin into the abscess to remove or drain the infected fluid. It provides faster recovery than open surgical drainage. In terms of types, the global interventional radiological drainage surgery market is divided into catheters and stents. Drainage catheters come in different sizes, shapes and types. Interventional radiologists will choose a catheter based on the type of fluid and other factors. The high prevalence of target diseases and increased preference for minimally invasive surgery have promoted the growth of the global interventional radiology drainage surgery market.

North America dominated the global interventional radiology drainage procedures market in 2020, and this trend is expected to continue during the forecast period. The high prevalence of the disease and the well-developed medical infrastructure can correctly diagnose and use cost-effective minimally invasive surgery for abscess drainage, which can be attributed to the huge market share in the region.

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During the forecast period, the Asia-Pacific region is expected to become a highly profitable market for interventional radiology drainage surgery. Most countries in the Asia-Pacific region are developing countries, and some participants are investing heavily in the region. These factors have promoted the growth of the Asia-Pacific market. It is expected that technological advances in healthcare and medical research in various countries will promote the growth of the market in this region.

Increased patient preference for minimally invasive surgery and cost-effective drainage procedures to drive the global market

In the past few years, the demand for minimally invasive surgery has increased significantly. The advantages of fewer postoperative complications and side effects, faster recovery, and shorter hospital stay prompt patients to choose minimally invasive surgery. Compared with traditional surgery, minimally invasive surgery uses advanced technology to reach the internal organs through a small incision, thereby reducing pain, reducing the risk of infection, shortening the hospital stay, recovering faster, reducing scars and reducing blood loss. Therefore, it is expected that during the forecast period, the increase in the number of minimally invasive surgery will promote the development of the global interventional radiology drainage surgery market.

Interventional radiology procedures are cheaper than invasive procedures and other treatment alternatives. In addition, the existing image-guided drainage program reimbursement policy has promoted the development of the market. According to a survey conducted by the U.S. Urgent Care Association (UCAOA), currently about 51% of emergency care income is reimbursed by private insurance and 14% is reimbursed by medical insurance. According to industry experts, favorable insurance coverage is expected to affect the global interventional radiology drainage procedure market by penetrating the suburbs.

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The conduit that dominates the global market

In terms of types, the global interventional radiological drainage surgery market is divided into catheters and stents. The catheter part has been divided into multi-purpose drainage catheters, nephrostomy drainage catheters, biliary drainage catheters, cholecystectomy catheters, etc. The catheter segment dominates the global interventional radiology drainage surgery market in 2020, and this trend is likely to continue during the forecast period. Due to the increase in target disease cases, the growth of this market segment can be attributed to the increase in catheter demand. In June 2020, Boston Scientific launched DIRECTSENSE technology, a tool used to monitor the effect of radiofrequency (RF) energy delivery during cardiac ablation procedures in the United States

Abdomen has become a key application area

According to the application, the global interventional radiology drainage surgery market has been divided into abdomen, pelvis, etc. The abdominal part dominates the global interventional radiology drainage surgery market in 2020. Percutaneous computed tomography-guided catheter drainage is the standard treatment for most intra-abdominal abscesses because it avoids anesthesia and potentially difficult laparotomy. It can also prevent the possibility of wound complications caused by open surgery and can reduce the length of hospital stay.

Hospitals are expected to become end users

In terms of end users, the global interventional radiology drainage surgery market has been divided into hospitals, specialist clinics and outpatient surgery centers. The hospital sector will dominate the market in 2020. The sector is expected to grow at the highest compound annual growth rate from 2021 to 2031. The growth in this sector can be attributed to advances in the hospital's adoption of interventional radiology (IR) technologies, such as real-time imaging systems.

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North America will lead the interventional radiology drainage surgery market

The global interventional radiology drainage surgery market has been divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America will dominate the global market in 2020, followed by Europe. Due to the increase in the adoption of new technologies and the increase in the number of various diseases, North America will account for the major share of the global interventional radiology drainage surgery market in 2020. From 2021 to 2031, the market for interventional radiological drainage procedures in the Asia-Pacific region is expected to expand at a higher compound annual growth rate. The expansion of the market for interventional radiological drainage procedures in this region can be attributed to the increase in the prevalence of diseases and the increased awareness of diagnosis, as well as the new technologies available for treatment.

Due to the existence of a large number of leading companies, the global interventional radiology drainage procedure market is fragmented. Major players operating in the global market include AngioDynamics, BD, Boston Scientific Corporation, Cook Medical LLC, Teleflex Incorporated, UreSil, LLC, Merit Medical Systems, APR Medtech Ltd., Argon Medical Devices, Inc., Rocket Medical plc, Optimed and Bioteque Corporation. The development of new products through strong R&D activities and mergers and acquisitions is the key strategy adopted by these players to expand their business in the global interventional radiology drainage procedure market.

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