Interventional Radiology Global Market Report 2024

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 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 $24.08 billion in 2023 to $27.42 billion in 2024 at a compound annual growth rate (CAGR) of 13.9%. The growth observed in the historical period can be attributed to factors such as an increased aging population, a rise in the prevalence of chronic diseases, the adoption of telehealth services, enhanced radiation safety measures, and an increase in minimally invasive procedures.

The interventional radiology market size is expected to see rapid growth in the next few years. It will grow to $44.06 billion in 2028 at a compound annual growth rate (CAGR) of 12.6%. The anticipated growth in the forecast period can be linked to factors such as the improvement of healthcare infrastructure, the adoption of genomic medicine, an increasing utilization of interventional radiology, supportive regulatory changes, and an enhancement in patient awareness. Key trends expected in the forecast period involve the adoption of focused ultrasound, a growing focus on pediatric interventional radiology, the adoption of point-of-care imaging, the implementation of patient navigation tools, and the uptake of catheter robotics.

The anticipated rise in cancer prevalence is poised to fuel the growth of the interventional radiology market in the foreseeable future. As a global health concern, cancer stands as the second leading cause of death in the United States. Interventional radiology employs various techniques, including ablation, embolization, and irreversible electroporation (IRE), to address cancer and cardiovascular disorders. Notably, in 2021, cancer claimed the lives of 134,802 individuals in England, according to the House of Commons Library. This escalating prevalence of cancer is a key driver propelling the expansion of the interventional radiology market.

The growth of the aging population is expected to play a pivotal role in driving the interventional radiology market forward. The demographic shift towards an aging population is characterized by a substantial increase in the proportion of elderly individuals globally. Many elderly individuals suffer from vascular conditions such as peripheral artery disease (PAD) and deep vein thrombosis (DVT). Interventional radiologists play a crucial role in performing procedures like angioplasty, stent placement, and thrombolysis to address these conditions. Projections indicate that individuals aged 65 and over are expected to comprise 24% of the UK population by 2043, reaching 17.4 million people, as reported by the House of Commons Library. This demographic shift is a significant factor driving 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 2023. 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.


This product will be delivered within 3-5 business days.