Press release
Interventional Radiology Market: Exponential Growth and Future Prospects
Interventional Radiology Market
What Is The Projected Market Size Of The Global Interventional Radiology Market And Its Growth Rate?
The global interventional radiology market has witnessed significant growth in recent years and is projected to continue its upward trajectory:
• It is expected to grow from $26.74 billion in 2024 to $30.25 billion in 2025 at a compound annual growth rate (CAGR) of 13.1%.
• By 2029, the market size is anticipated to reach $49.01 billion, marking a CAGR of 12.8%.
Contributors to this dramatic growth include an aging population, rise in chronic diseases, adoption of telehealth services, enhanced radiation safety measures, and increased minimally invasive procedures. Improving healthcare infrastructure, adoption of genomic medicine, increasing use of interventional radiology, supportive regulatory changes, and improving patient awareness are other considerable factors.
What Is Driving The Growth In The Interventional Radiology Market?
The growth of the interventional radiology market is predominantly driven by the increase in the prevalence of cancer worldwide. Cancer stands as a global health problem and is the second leading cause of death in the United States. Techniques such as ablation, embolization, and irreversible electroporation (IRE) used in interventional radiology are effective for treating cancer and cardiovascular disorders. The growing number of cancer cases, for instance in Australia, where they rose from 160,570 in 2022 to 164,694 in 2023, reflects the substantial demand and growth drivers of the interventional radiology market.
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Who Are the Key Players Driving Interventional Radiology Market Growth?
Key players operating in the interventional radiology market that are crucial for driving growth 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 Are The Key Trends In The Interventional Radiology Market?
Key trends observed in the interventional radiology market 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
What Are The Segments Of The Global Interventional Radiology Market?
The global interventional radiology market is segmented by:
• Product: MRI, Ultrasound Imaging, CT Scanners, Angiography Systems, Fluoroscopy Systems, Biopsy Devices, Other Products
• Procedure: Angioplasty, Angiography, Biopsy And Drainage, Embolization, Thrombolysis, Vertebroplasty, Nephrostomy, Other Procedures
• Application: Oncology, Cardiology, Urology And Nephrology, Gastroenterology, Other Applications
Which Region Leads The Interventional Radiology Market?
In 2024, North America was the largest region in the interventional radiology market. However, Asia-Pacific is predicted to be the fastest-growing region in the forecast period. The report includes all major regions, namely, Asia-Pacific, Western Europe, Eastern Europe, North America, South America, and the Middle East and Africa.
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What Is Covered In The Interventional Radiology Market Global Market Report?
- Market Size Analysis: Analyze the Interventional Radiology Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Interventional Radiology Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Interventional Radiology Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Interventional Radiology Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, new product launches in the market.
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