The global interventional radiology market is estimated to be valued at USD 26.97 Bn in 2024 and is expected to exhibit a CAGR of 6.7% during the forecast period (2024-2031). Interventional radiology relies on minimally invasive image-guided procedures to diagnose and treat diseases. It combines imaging with therapy and is gaining prominence due to advantages such as reduced trauma, shorter hospital stays, lower costs and fewer complications compared to open surgeries. Growing prevalence of chronic diseases like cancer and cardiovascular diseases is a key factor augmenting adoption of interventional radiology procedures worldwide. Furthermore, rising demand for minimally invasive techniques from the rapidly expanding geriatric population is also supporting interventional radiology market growth. However, risks of exposure to radiation, shortage of skilled professionals and high costs associated with IR equipment and procedures may hinder the market to a certain extent during the forecast period.

Market Dynamics:

The global interventional radiology market is driven by factors such as rising geriatric population susceptible to chronic diseases, increasing preference for minimally invasive surgeries, and technological advancements promoting the use of advanced IR devices. As per the United Nations, the population aged 60 years and above is expected to double from 12% to 22% between 2015 and 2050. Additionally, according to the World Health Organization, cancer burden has risen to 18.1 million new cases and 9.6 million cancer deaths in 2018. Furthermore, the demand for less invasive procedures for the diagnosis and treatment of various neurological, oncological, and cardiovascular ailments is on the rise. However, a shortage of skilled radiologists, risk of radiation exposure associated with interventional procedures, and high costs of IR equipment and procedures may restrain the market growth. Conversely, the use of artificial intelligence and robotics can provide novel opportunities for precision-guided procedures and expanded applications of IR in the coming years.

Key Features of the Study:

• This report provides an in-depth analysis of the global interventional radiology market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global interventional radiology market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this includes Shimadzu Corporation, Koninklijke Philips N.V, Siemens Healthcare GmbH, FUJIFILM Holdings Corporation, F. Hoffmann-La Roche Ltd, Advanced Brain Monitoring, Inc., Nihon Kohden Corporation, Mitsar Co. LTD., EMS Biomedical, Natus Medical Incorporated, Mennen Medical, Medicaid Systems, Atlantic Health System, Carestream Health, and Samsung Medison
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global interventional radiology market caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global interventional radiology market

Detailed Segmentation-

• By Product:
  • MRI Systems
  • Ultrasound Imaging Systems
  • CT Scanners
  • Angiography Systems
  • Fluoroscopy Systems
  • Biopsy Devices
  • Others
• By Application:
  • Cardiology
  • Urology 
  • Nephrology
  • Oncology
  • Gastroenterology
  • Others
• By Region:
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa
• Company Profiles:
  • Shimadzu Corporation
  • Koninklijke Philips N.V
  • Siemens Healthcare GmbH
  • FUJIFILM Holdings Corporation
  • Hoffmann-La Roche Ltd
  • Advanced Brain Monitoring, Inc.
  • Nihon Kohden Corporation
  • Mitsar Co. LTD.
  • EMS Biomedical
  • Natus Medical Incorporated
  • Mennen Medical
  • Medicaid Systems
  • Atlantic Health System
  • Carestream Health
  • Samsung Medison