Global Interventional Radiology Market Projected to Surpass $49.02 Billion by 2029 with 0.128205503976955% Annual Growth

What combination of drivers is leading to accelerated growth in the interventional radiology market?
The escalating incidence of cancer is anticipated to propel the expansion of the interventional radiology market in the foreseeable future. Cancer is a worldwide health issue and ranks as the second most common cause of mortality in the United States. Interventional radiology employs various techniques like ablation, embolization, and irreversible electroporation (IRE) for the treatment of cancer and cardiovascular diseases. For example, in July 2024, as reported by the Australian Institute of Health and Welfare, a government agency based in Australia, there was a significant increase in cancer diagnoses in Australia, rising from 160,570 cases in 2022 to 164,694 in 2023. This surge illustrates the escalating incidence of cancer in the nation. Consequently, the increasing incidence of cancer fosters the expansion of the interventional radiology market.

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What is the projected compound annual growth rate (CAGR) of the interventional radiology market from 2025 to 2034, and what factors influence it?
Recent years have seen a swift expansion of the interventional radiology market. Its size is projected to surge from $26.74 billion in 2024 to $30.25 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 13.1%. This growth in the historical period can be traced back to factors such as the surge in elderly population, an increase in the incidence of chronic diseases, the uptake of telehealth services, improved measures for radiation safety, and a rise in minimally invasive procedures.

The anticipated expansion of the interventional radiology market is set to experience a significant surge in the upcoming years. The predicted escalation would see the market size reach $49.01 billion by 2029, enjoying a compound annual growth rate (CAGR) of 12.8%. The prospective growth within this time frame is linked to the improvements in the healthcare infrastructure, embracement of genomic medicine, increase in the use of interventional radiology, supportive modifications in regulation, and enhanced patient awareness. Throughout the forecast period, key trends are expected to include the adoption of focused ultrasound, increased interest in pediatric interventional radiology, utilization of point-of-care imaging, integration of patient navigation tools, and use of catheter robotics.

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How are the latest trends influencing the growth of the interventional radiology market?
Artificial Intelligence is rapidly emerging as a significant trend in the interventional radiology market. Companies active in this sector are consistently concentrating on the introduction of new technologies to maintain their footing in the interventional radiology industry. For example, Shimadzu Medical Systems, an American medical equipment firm, in June 2022, launched the Trinias angiography system integrated with artificial intelligence. This system is designed to facilitate a broad range of interventional procedures including interventional cardiology, peripheral investigations, interventional neurology, interventional radiology, and cancer treatment. The Trinias angiography system is used to diagnose and treat heart conditions such as congenital heart defects, heart valve disease, and coronary artery disease.

What are the major segments of the interventional radiology market and their role in driving growth?
The interventional radiology market covered in this report is segmented -

1) By Product: MRI, Ultrasound Imaging, CT Scanners, Angiography Systems, Fluoroscopy Systems, Biopsy Devices, Other Products
2) By Procedure: Angioplasty, Angiography, Biopsy And Drainage, Embolization, Thrombolysis, Vertebroplasty, Nephrostomy, Other Procedures
3) By Application: Oncology, Cardiology, Urology And Nephrology, Gastroenterology, Other Applications

Subsegments:
1) By MRI (Magnetic Resonance Imaging): Closed MRI Systems, Open MRI Systems, Extremity MRI Systems,
2) By Ultrasound Imaging: Portable Ultrasound Systems, Diagnostic Ultrasound Systems, 3D/4D Ultrasound Systems
3) By CT Scanners: Multi-slice CT Scanners, Cone Beam CT Scanners, Dual-energy CT Scanners
4) By Angiography Systems: Digital Subtraction Angiography (DSA) Systems, Mobile Angiography Systems, Hybrid Angiography Systems
5) By Fluoroscopy Systems: Fixed Fluoroscopy Systems, Mobile Fluoroscopy Systems, C-arm Fluoroscopy Systems
6) By Biopsy Devices: Needle Biopsy Devices, Vacuum-Assisted Biopsy Devices, Stereotactic Biopsy Devices
7) By Other Products: Contrast Agents, Surgical Navigation Systems, Interventional Accessories

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Which regions are key players in the growth of the interventional radiology market?
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 the interventional radiology market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Who are the key firms paving the way for growth 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.

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What Is Covered In The Interventional Radiology Global Market Report?

•Market Size Forecast: Examine the interventional radiology market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the interventional radiology market for a structured understanding.
•Key Players Overview: Analyze major players in the interventional radiology market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the interventional radiology market.
•Segment Contributions: Evaluate how different segments drive overall growth in the interventional radiology market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the interventional radiology market.
•Industry Challenges: Identify potential risks and obstacles affecting the interventional radiology market.
•Competitive Landscape: Review strategic developments in the interventional radiology market, including expansions, agreements, and new product launches.

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