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How has the interventional radiology market size evolved in recent years?

The market size for interventional radiology has been expanding swiftly in the past few years. Projections indicate an increase from $26.74 billion in 2024 to $30.25 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 13.1%. This substantial growth in the previous period is due to factors such as the growing elderly population, the surge in chronic disease occurrence, the embrace of telehealth services, improved radiation safety precautions, and the rise in minimally invasive procedures.

What are the predictions for the interventional radiology market size in the coming years?

Anticipated to witness a swift expansion in the upcoming years, the interventional radiology market is forecasted to reach a worth of $49.01 billion by 2029, with a compound annual growth rate (CAGR) of 12.8%. This observed growth during the forecast period could be linked to better healthcare infrastructure, embracing of genomic medicine, escalated usage of interventional radiology, and favorable regulatory shifts, along with an elevation in patient cognizance. Key trends expected to dominate the forecast period involve the adoption of focused ultrasound, increased attention towards pediatric interventional radiology, the utilization of point-of-care imaging, integration of patient navigation tools, and the employment of catheter robotics.

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What key factors are fueling the growth of the interventional radiology market?

The rise in cancer cases globally is anticipated to prompt the expansion of the interventional radiology market in the future. Being a major health issue globally, cancer is the second chief reason for fatalities in the United States. Interventional radiology incorporates multiple techniques like ablation, embolization, and irreversible electroporation (IRE) to manage cancer and cardiovascular ailments. For example, the Australian Institute of Health and Welfare, a government agency in Australia, reported in July 2024 that the total cancer diagnoses in Australia escalated from 160,570 in 2022 to 164,694 in 2023, indicating a significant increase over the course of a year. This rising trend underscores the escalating incidence of cancer in the country. Consequently, the surge in cancer cases is responsible for the growth of the interventional radiology market.

How is the global interventional radiology market divided into key segments?

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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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.

Which trends are expected to transform the interventional radiology market?

The rise of artificial intelligence is a significant trend that is increasingly impacting the interventional radiology market. To remain competitive in the interventional radiology space, companies are persistently focusing on integrating new technologies. For example, in June 2022, Shimadzu Medical Systems, a medical equipment firm based in the US, introduced the Trinias angiography system powered by artificial intelligence. This system is designed to support a wide array of interventional procedures, encompassing interventional cardiology, peripheral investigations, interventional neurology, interventional radiology, and cancer. Various cardiac diseases such as congenital heart anomalies, heart valve disease, and coronary artery disease are all being diagnosed and treated using the Trinias angiography system.

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What regions are contributing significantly to 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.

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