PUBLISHER: The Business Research Company | PRODUCT CODE: 1650507
PUBLISHER: The Business Research Company | PRODUCT CODE: 1650507
Interventional radiology, a specialized field within radiology, employs medical imaging techniques to guide minimally invasive surgical procedures for both diagnostic and therapeutic purposes.
The primary products in the interventional radiology market encompass MRI, ultrasound imaging, CT scanners, angiography systems, fluoroscopy systems, biopsy devices, and various others. MRI interventional radiology devices excel in producing detailed images of organs and tissues within the body. The range of procedures performed includes angioplasty, angiography, biopsy and drainage, embolization, thrombolysis, vertebroplasty, nephrostomy, and more. These procedures find application across diverse medical specialties such as cardiology, urology and nephrology, oncology, gastroenterology, and various others.
The interventional radiology market research report is one of a series of new reports from The Business Research Company that provides interventional radiology market statistics, including interventional radiology global industry, regional shares, competitors with a interventional radiology market share, detailed interventional radiology market segments, market trends and opportunities, and any further data you may need to thrive in the interventional radiology industry. This interventional radiology market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The interventional radiology market size has grown rapidly in recent years. It will grow from $26.74 billion in 2024 to $30.25 billion in 2025 at a compound annual growth rate (CAGR) of 13.1%. The growth in the historic period can be attributed to increased aging population, rise in chronic disease prevalence, adoption of telehealth service, enhanced radiation safety measures, increased minimally invasive procedures.
The interventional radiology market size is expected to see rapid growth in the next few years. It will grow to $49.01 billion in 2029 at a compound annual growth rate (CAGR) of 12.8%. The growth in the forecast period can be attributed to improving healthcare infrastructure, adoption of genomic medicine, increasing use of interventional radiology, supportive regulatory changes, improving patient awareness. Major trends in the forecast period include adoption of focused ultrasound, growing focus on pediatric interventional radiology, adoption of point-of-care imaging, adoption of patient navigation tools, adoption of catheter robotics.
The rising prevalence of cancer is anticipated to propel the growth of the interventional radiology market in the upcoming years. Cancer is a significant global health issue and ranks as the second leading cause of death in the United States. Interventional radiology employs various techniques, including ablation, embolization, and irreversible electroporation (IRE), to treat cancer and cardiovascular conditions. For example, in July 2024, the Australian Institute of Health and Welfare, a government agency in Australia, reported that the number of diagnosed cancer cases in the country rose from 160,570 in 2022 to 164,694 in 2023, indicating a substantial increase over the year. This trend underscores the growing incidence of cancer in Australia. Therefore, the increasing prevalence of cancer is driving the growth of the interventional radiology market.
The growth of the interventional radiology market is expected to be fueled by the increasing aging population in the coming years. An aging population refers to a demographic shift marked by a substantial rise in the proportion or number of elderly individuals within a society or specific region. Many older adults experience vascular conditions, such as peripheral artery disease (PAD) and deep vein thrombosis (DVT). Interventional radiologists can carry out procedures like angioplasty, stent placement, and thrombolysis to restore blood flow and relieve symptoms. For instance, in January 2022, the Congressional Budget Office, a federal agency in the United States, projected that the estimated population eligible for Social Security payroll taxes and benefits would grow from 342 million in 2024 to 383 million by 2054. This increase is largely driven by a notable rise in the population aged 65 and older, contributing to an overall aging demographic. Thus, the growing aging population is propelling the growth of the interventional radiology market.
Artificial Intelligence (AI) emerges as a prominent trend in the interventional radiology market, with companies continually focusing on introducing new technologies to stay competitive. For instance, in June 2022, Shimadzu Medical Systems, a US-based medical equipment company, launched the Trinias angiography system equipped with artificial intelligence. This system is designed to assist various interventional procedures, including interventional cardiology, peripheral investigations, interventional neurology, interventional radiology, and cancer-related interventions. It proves particularly beneficial for diagnosing and treating heart diseases, including congenital heart abnormalities, heart valve disease, and coronary artery disease.
Major companies in the interventional radiology market are actively innovating technological products, exemplified by the introduction of AI-powered solutions like the Viz Radiology Suite by Viz.ai Inc. Launched in December 2022, this suite is tailored to connect care teams in real-time, prioritize worklists, and alert radiologists in their workflow regarding suspected illnesses. The suite interfaces with healthcare organizations' picture archiving and communication systems (PACS), ensuring secure access to imaging data across departments and expediting patient diagnosis.
In January 2023, GE Healthcare Technologies Inc., a US-based medical technology company, acquired IMACTIS for an undisclosed amount. Motivated by the opportunity to expand its interventional radiology business, integrate complementary technologies, and enhance image-guided therapeutic solutions, the acquisition of IMACTIS, a France-based medical technology company, aligns with GE Healthcare's commitment to advancing its capabilities for the benefit of clients and patients.
Major companies operating in the interventional radiology market include Carestream Health Inc., Siemens Aktiengesellschaft, Koninklijke Philips N.V., General Electric Company, Hitachi Ltd., Canon Medical Systems Corporation, Toshiba Medical Systems, Medtronic plc, Shimadzu Corporation, FUJIFILM Holdings Corporation, Hologic Inc., Agfa-Gevaert N.V., Esaote S.p.A., Samsung Medison Co. Ltd., Cook Group Incorporated, Stryker Corporation, Abbott Laboratories, AngioDynamics Inc., B. Braun Melsungen AG, Cardinal Health Inc., C. R. Bard Inc., Terumo Corporation, Merit Medical Systems Inc., Penumbra Inc., BTG International Ltd., Guerbet Group, Medrad Inc., MicroPort Scientific Corporation, Neusoft Medical Systems Co. Ltd., Nordion Inc.
North America was the largest region in the interventional radiology global market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in interventional radiology market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the interventional radiology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The interventional radiology market consists of sales of atherectomy systems, cancer therapies, and balloon catheters. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Interventional Radiology Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on interventional radiology market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for interventional radiology ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The interventional radiology market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.