Rising Cancer Prevalence Spurs Growth In The Interventional Radiology Market: Key Factor Driving The Growth In The Interventional Radiology Market

The Interventional Radiology Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Expected Interventional Radiology Market Size During the Forecast Period?
In the past few years, the size of the interventional radiology market has witnessed significant expansion. Projected to escalate from $26.74 billion in 2024 to $30.25 billion in 2025, it is set to experience a compound annual growth rate (CAGR) of 13.1%. The surge observed in the historic period can be traced back to factors such as the growing older population, escalating prevalence of chronic diseases, the adoption of telehealth services, improved radiation safety protocols, and the increase in minimally invasive procedures.

Anticipations are high for the interventional radiology market to experience swift expansion in the ensuing years. The market is predicted to surge to a whopping $49.01 billion in 2029, maintaining a consistent compound annual growth rate (CAGR) of 12.8%. Factors contributing to this anticipated growth during the forecasted period encompass enhancements to healthcare infrastructure, embracement of genomic medicine, an uptick in the application of interventional radiology, favourable adjustments in regulations, and growing patient awareness. The period is also suspected to witness major trends including the adoption of concentrated ultrasound, increased concentration on pediatric interventional radiology, the use of point-of-care imaging, implementation of patient navigation systems, and the uptake of catheter robotics.

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What Are the High-Growth Segments in the Interventional Radiology Market?
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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What Key Drivers Are Expected to Influence Future Interventional Radiology Market Growth?
The upsurge in cancer cases is foreseen to stimulate the expansion of the interventional radiology market in forthcoming years. Cancer is a significant health concern worldwide and is the second largest contributor to mortality in the United States. Interventional radiology is a medical method that employs numerous techniques, such as ablation, embolization, and irreversible electroporation (IRE), to address cancer and cardiovascular disorders. For example, the Australian Institute of Health and Welfare, a government agency in Australia, reported that the tally of cancer diagnoses rose from 160,570 in 2022 to 164,694 in 2023, marking a considerable yearly increment. This progression underlines the escalating incidence of cancer in Australia. Consequently, the escalating cancer prevalence propels the expansion of the interventional radiology market.

Which Companies Hold the Largest Share Across Different Interventional Radiology Market Segments?
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 Trends Are Driving Growth in The Interventional Radiology Market?
Artificial Intelligence is emerging as a significant trend in the interventional radiology market. The continual focus of interventional radiology firms is on innovating new technologies to continue thriving in the market. For example, in June 2022, US-based medical equipment manufacturer, Shimadzu Medical Systems launched the Trinias angiography system that incorporates artificial intelligence. This system is designed to facilitate a variety of interventional procedures including interventional cardiology, peripheral investigations, interventional neurology, interventional radiology, and cancer treatments. The Trinias angiography system can diagnose and treat a range of heart-related issues such as congenital heart defects, heart valve disease, and coronary artery disease.

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What Are the Emerging Geographies for The Interventional Radiology Market Growth?
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.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Interventional Radiology Market?
2. What is the CAGR expected in the Interventional Radiology Market?
3. What Are the Key Innovations Transforming the Interventional Radiology Industry?
4. Which Region Is Leading the Interventional Radiology Market?

Why This Report Matters:

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Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.

Efficient Research: Quickly identify market growth, leading players, and major segments.

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