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What are the Expected Market Size and Future Growth Rates for the Global Interventional Radiology Market?
The interventional radiology market size has witnessed significant growth over the last few years. It is forecasted to expand from $26.74 billion in 2024 to $30.25 billion in 2025, showing a compound annual growth rate (CAGR) of 13.1%. This growth during the historic period has been attributed to multiple factors including an increased aging population, rise in chronic disease prevalence, the adoption of telehealth services, enhanced radiation safety measures, and increased minimally invasive procedures.
Looking forward, the interventional radiology market is set to expand at an accelerated pace, reaching $49.01 billion in 2029 at a CAGR of 12.8%. This projected growth for the forecast period can be attributed to improving healthcare infrastructure, adoption of genomic medicine, increasing use of interventional radiology, supportive regulatory changes, and improving patient awareness.
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What Are The Key Growth Drivers Of The Interventional Radiology Market?
The global rise in the prevalence of cancer is expected to significantly contribute to the growth of the interventional radiology market. As the second leading cause of death in the United States and a significant health challenge globally, innovative ways to combat this disease are in high demand. Interventional radiology offers a variety of techniques such as ablation, embolization, and irreversible electroporation (IRE) to treat cancer and cardiovascular disorders efficiently and with minimal invasiveness.
How Is The Global Interventional Radiology Market Segmented?
The interventional radiology market covered in this report is segmented as follows:
– By Product: MRI, Ultrasound Imaging, CT Scanners, Angiography Systems, Fluoroscopy Systems, Biopsy Devices, Other Products
– By Procedure: Angioplasty, Angiography, Biopsy And Drainage, Embolization, Thrombolysis, Vertebroplasty, Nephrostomy, Other Procedures
– By Application: Oncology, Cardiology, Urology And Nephrology, Gastroenterology, Other Applications
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Which Are The Major Players In The Interventional Radiology Market?
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.
What Latest Trends Are Being Witnessed In The Interventional Radiology Market?
One of the key trends impacting the interventional radiology market is the advent and incorporation of Artificial Intelligence (AI). Companies operating in the sector are continually introducing new technologies to maintain their competitive edge. For instance, in June 2022, Shimadzu Medical Systems released the Trinias angiography system with AI, designed to assist many different interventional procedures in cardiology, neurology, radiology, and cancer treatment.
Which Region is Predicted To Experience The Fastest Growth In The Interventional Radiology Market?
North America was the largest region in the interventional radiology global market in 2024. However, Asia-Pacific is expected to be the fastest-growing region in the forecast period, reflecting the evolution and growth of healthcare infrastructure in this region.
What Does The Interventional Radiology Market Report 2025 Offer?
Interventional radiology is a minimally invasive diagnosis and treatment field that employs medical imaging. With a wide range of applications including vascular blockages and tumor treatment, the sector reduces patient discomfort and shortens recovery times. The Interventional Radiology Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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