Interventional Radiology Market Forecast 2023-2032: Size, Key Players And Segments
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
North America held the largest interventional radiology market share, and Asia-Pacific was the fastest-growing region in 2022.
The global interventional radiology market size grew from $20.68 billion in 2022 to $22.57 billion in 2023 at a compound annual growth rate (CAGR) of 9.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The interventional radiology market size is expected to grow to $31.77 billion in 2027 at a CAGR of 8.9%.
Major Driver In The Interventional Radiology Market – Increase In Prevalence Of Cancer
For instance, according to the American Cancer Society, there were 1,806,590 new cancer cases and 606,520 cancer deaths in 2020 in the USA. New cases of leukemia, lymphoma, and myeloma are expected to account for 9.9% of the estimated 178,520 new cases diagnosed in the USA in 2020 and in approximately every 3 minutes one person in the US is diagnosed with blood cancer. Hence, the increasing prevalence of cancer drives the growth of the interventional radiology market.
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Key Interventional Radiology Market Segments
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
Recent Interventional Radiology Market Trend – Artificial Intelligence
Artificial intelligence is a key trend gaining popularity in the interventional radiology market. Companies operating in the interventional radiology sector continuously focus on introducing new technologies to survive in the interventional radiology market.
Interventional Radiology Market Prominent Players
Major players in the interventional radiology market are Carestream Health, Siemens AG, Koninklijke Philips N.V., General Electric Company, Hitachi Medical Corporation, Canon Medical Systems Corporation, Toshiba Medical Systems, Medtronic plc, Shimadzu Corporation, Fujifilm Holdings Corp., Hologic Inc., Agfa-Gevert N.V., Esaote S.P.A., and Samsung Medison.
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The Interventional Radiology Global Market Report 2023 provides a comprehensive overview on the interventional radiology market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the interventional radiology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Interventional radiology is a field of radiology that uses medical imaging to guide minimally invasive surgical procedures for diagnosis and treatment
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