Press release
Interventional Radiology: $24.2B to $46.29B | 6.7% CAGR
The global interventional radiology market is experiencing sustained growth as healthcare systems worldwide shift toward minimally invasive procedures, precision diagnostics, and advanced imaging-led interventions. With the market valued at USD 24.20 Billion in 2024 and projected to reach USD 46.29 Billion by 2034 at a CAGR of 6.70%, stakeholders across hospitals, diagnostic centres, and medical device companies are increasingly prioritizing image-guided therapies for enhanced clinical outcomes.
What Is Driving Demand for Interventional Radiology in 2024-2034?
Several structural market factors are contributing to the growth trajectory:
1. Growing Prevalence of Chronic Diseases
Cardiovascular diseases (CVDs) remain the leading cause of death, globally affecting over 550 million people.
Rising incidences of cancer, kidney disorders, and gastrointestinal diseases increase the demand for image-guided diagnostic and therapeutic interventions.
2. Strong Shift Toward Non-Invasive and Minimally Invasive Procedures
Interventional radiology reduces:
Hospital stay duration
Risk of infections
Post-operative complications
Overall treatment costs
This has made IR the preferred alternative to conventional surgeries.
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3. Technology Advancements
3D/4D imaging
AI-enabled diagnostics
Cone-beam CT
Next-generation angiography suites
Robotic IR systems
These advancements enable greater accuracy, faster procedures, and enhanced safety.
4. Expansion of Hospital Infrastructure and ASC Growth
Ambulatory Surgical Centres (ASCs) are increasingly incorporating IR equipment due to:
Lower operational costs
High procedural throughput
Favorable reimbursement models
5. Rising Awareness Among Patients
Patients now actively seek minimally invasive procedures for:
Tumor embolization
Vascular disorders
Pain management
Organ drainage
Biopsies
Market Size Overview
2024 Market Value: USD 24.20 Billion
2034 Expected Market Value: USD 46.29 Billion
CAGR (2025-2034): 6.70%
This growth reflects strong industry adoption, government healthcare investments, and widening clinical applications.
Market Segmentation Analysis
Market Breakup by Products
MRI Systems
MRI plays a crucial role in soft-tissue visualization, interventional neurology, oncology guidance, and musculoskeletal procedures. Demand is rising due to the shift toward hybrid IR suites.
CT Scanners
High-resolution CT and dual-energy CT are widely used for vascular imaging, biopsy guidance, and trauma interventions.
Ultrasound Imaging Systems
Portable and cost-effective, ultrasound systems lead the market in real-time, radiation-free guidance during biopsies, drainages, and vascular procedures.
Angiography Systems
A core segment driven by increasing cardiovascular and peripheral artery disease management.
Biopsy Devices
Used extensively in oncology diagnostics as cancer incidence continues rising globally.
Fluoroscopy Systems
Critical for continuous real-time monitoring during catheter placements, stent insertions, and pain management procedures.
Others
Includes hybrid systems, robotic interventions, and integrated imaging platforms.
Market Breakup by Technology
Catheters
Dominant in vascular, oncology, and nephrology interventions.
Stents
Used primarily in cardiovascular and peripheral artery disease treatments. Demand is expanding for drug-eluting and bioresorbable stents.
Inferior Vena Cava (IVC) Filters
Used for preventing pulmonary embolisms, especially in high-risk patients.
Hemodynamic Flow Alteration (HFA) Devices
Critical in managing aneurysms and complex vascular abnormalities.
Angioplasty Balloons
Used widely in arterial revascularization procedures.
Thrombectomy Systems
Gaining traction for stroke and deep vein thrombosis (DVT) management.
Embolization Devices
Increasingly used in cancer therapy, uterine fibroids, and GI bleeds.
Biopsy Needles
A growing oncology-led segment.
Accessories
Guide wires, valves, introducers, and other consumables ensure recurring revenue streams.
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Market Breakup by Procedure
Angioplasty
High global demand driven by CVD prevalence.
Angiography
Key diagnostic procedure for vascular diseases.
Embolization
Used for tumor treatment, uterine fibroids, AVMs, and trauma.
Thrombolysis
Critical for acute stroke and PE treatment.
Biopsy and Drainage
High-volume procedures due to rising cancer rates.
Vertebroplasty
Common for treating osteoporotic fractures and spinal tumors.
Nephrostomy
Growing due to high kidney stone and renal obstruction cases.
Other Procedures
Includes GI interventions, biliary procedures, and pain therapies.
Market Breakup by Application
Cardiology
Largest application area due to:
Coronary artery disease
Structural heart interventions
Peripheral artery disorders
Urology and Nephrology
IR is essential for nephrostomies, stone extractions, and renal embolization.
Oncology
One of the fastest-growing segments due to:
Tumor ablation
Embolization therapy
Targeted drug delivery
Gastroenterology
Used for biliary drainage, abscess management, and GI bleeding control.
Obstetrics
Growth driven by embolization procedures for postpartum hemorrhage.
Others
Includes pain management and spine interventions.
Market Breakup by End User
Hospitals
Largest segment due to:
Advanced infrastructure
Hybrid surgical suites
Availability of trained specialists
Clinics
Smaller but growing adoption driven by outpatient IR procedures.
Ambulatory Surgical Centres (ASCs)
Growth driven by cost-effectiveness and shorter patient visits.
Others
Includes research institutions and imaging centres.
Regional Market Insights
North America
Largest share globally
High adoption of advanced IR technologies
Strong reimbursement and healthcare spending
Europe
Strong regulatory support
Widespread hybrid OR adoption
Asia Pacific
Fastest-growing market due to:
Rapid healthcare infrastructure expansion
Rising patient population
Government investments in imaging
Latin America
Growth driven by increasing awareness of minimally invasive procedures.
Middle East & Africa
Growing due to investments in tertiary hospitals and medical tourism.
Leading Companies in the Interventional Radiology Market
General Electric
Koninklijke Philips N.V.
Carestream Health
Hitachi, Ltd.
Hologic, Inc.
Shimadzu Corporation
Siemens Healthcare GmbH
Canon Medical Systems Corporation
Samsung Medison Co., Ltd.
Medtronic Plc
Agfa-Gevaert Group
Teleflex Incorporated
Analogic Corporation
Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
Trivitron Healthcare
Stryker Corporation
Olympus Corporation
Toshiba Medical Systems
These players focus on R&D, product innovation, AI integration, and portfolio expansion.
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