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How Has the Interventional Radiology Market Grown from 2024 to 2025?

There has been a swift expansion in the size of the interventional radiology market in the last few years. Its growth is projected to escalate from $26.74 billion in 2024 to $30.25 billion in 2025, yielding a compound annual growth rate (CAGR) of 13.1%. Factors contributing to this significant growth in the historical period include an augmenting elderly population, a surge in chronic disease incidence, the initiation of telehealth services, improved radiation security methods, and a rise in minimally invasive operations.

What Growth Rate Is Anticipated for the Interventional Radiology Market in the Coming Years?

Anticipated to experience significant acceleration in the coming years, the interventional radiology market is predicted to expand to a size of $49.01 billion in 2029, presenting a compound annual growth rate (CAGR) of 12.8%. Factors contributing to this growth during the forecast period include advancements in healthcare infrastructure, embracing of genomic medicine, increased implementation of interventional radiology and favorable regulatory adjustments, coupled with enhanced patient awareness. The forecast period also sees major trends comprising the adoption of focused ultrasound, greater emphasis on pediatric interventional radiology, acceptance of point-of-care imaging, incorporation of patient navigation tools, and the use of catheter robotics.

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Who Are the Leading Companies 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.

What Are the Key Drivers of the Interventional Radiology Market?

The anticipated expansion of the interventional radiology market can be traced back to the escalating incidence of cancer. Globally, cancer poses a major health threat and ranks as the second-most deadly illness in the United States. Interventional radiology employs diverse techniques, including ablation, embolization, and irreversible electroporation (IRE) for the management of cancer and cardiovascular ailments. As an example, in July 2024, the Australian Institute of Health and Welfare, a governmental organization based in Australia, noted a prominent increase in cancer diagnoses from 160,570 in 2022 to 164,694 in 2023. This surge illustrates the widespread nature of cancer within the country. Therefore, the progressive incidence of cancer fuels the expansion of the interventional radiology market.

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What Are the Key Market Segments in the Interventional Radiology Industry?

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

What Are the Latest Trends in the Interventional Radiology Market?

The escalating trend of Artificial Intelligence is significantly impacting the interventional radiology market. Companies within this sector are relentlessly endeavoring to launch innovative technologies to ensure their competitiveness in the arena. For instance, Shimadzu Medical Systems, an American medical equipment firm, released the Trinias angiography system integrated with artificial intelligence in June 2022. This device is designed to support an assortment of interventional procedures, which include interventional cardiology, peripheral investigations, interventional neurology, interventional radiology, and cancer. The Trinias angiography system can diagnose and treat heart diseases such as congenital heart abnormalities, heart valve disease, and coronary artery disease.

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What Are the Key Regional Markets in the Interventional Radiology Industry?

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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This Report Delivers Insight On:

1. How big is the interventional radiology market, and how is it changing globally?

2. Who are the major companies in the interventional radiology market, and how are they performing?

3. What are the key opportunities and risks in the interventional radiology market right now?

4. Which products or customer segments are growing the most in the interventional radiology market?

5. What factors are helping or slowing down the growth of the interventional radiology market?

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