Market Overview

Global Interventional Radiology Market size was valued at USD 24,979.8 Million in 2024 and is projected to reach USD 40825.77 Million by 2032, growing at a CAGR of 5.61% from 2024 to 2032 according to a new report by Intellectual Market Insights Research.

Interventional radiology is a medical practice whose specialty is diagnosing and treating diseases through very minor, minimally invasive, image-guided procedure processes. Using advanced imaging like X-rays, MRI scans, CT scans, as well as ultrasound, interventional radiology allows the precision for guiding procedures through small incisions with minimal dissection, thus less reliance on the traditional surgery. Such techniques are applied in various disciplines of cardiology, oncology, urology, and others, allowing faster recovery times, with reduced risks and lower costs as compared to conventional approaches.

Since these minimally invasive techniques offer efficient alternatives for the diagnosis and treatment of disorders related to cancer, cardiovascular disease, and other chronic ailments, the market is growing with a rising prevalence of chronic diseases. An ageing population, sedentary lifestyles, and increased rates of diabetes and obesity are some factors that have been responsible for the rising incidence of chronic diseases. The WHO estimates that 71% of deaths are chronic illnesses, and cardiovascular diseases alone account for 17.9 million deaths annually. As these chronic diseases continue to increase, interventional radiology will increasingly be required as a life-saving medicine in the global health system.

Although promising in growth, the cost of equipment is high and there is a lack of qualified personnel. However, with continued emphasis on a minimally invasive approach to disease treatment globally, the outlook for interventional radiology increases as does the need for technological breakthroughs to be applied internationally.

The market is currently dominated by North America, mainly due to its strong health care infrastructure, heavy spending on health care and well-established regulatory standards. However, the Asia-Pacific region is expected to demonstrate the highest growth rate with growing health care access, the prevalence of chronic diseases, and government initiatives that boost the development of health care across countries such as China and India.

Key Findings

• In April 2024, California X-ray Imaging Services, Inc. is now a subsidiary of Shimadzu Precision Instruments, Inc. (hence, “SPI”), which Shimadzu Corporation (hereinafter, “Shimadzu”) bought all of the company's shares through. CIS will be integrated into SPI's medical systems branch, Shimadzu Medical Systems USA (henceforth referred to as "SMS").
• In Jan 2024, GE HealthCare announced that it has reached a deal to buy MIM Software, a global supplier of artificial intelligence (AI) and medical imaging analysis solutions for the practice of radiation oncology, molecular radiotherapy, diagnostic imaging, and urology at imaging centres, hospitals, speciality clinics, and research firms worldwide.

Market Drivers

Advancements in Imaging Technologies

Medical imaging advances such as HD MRI, CT, and ultrasound machines are upgrading interventional radiology. Since these newer machines create very clear, detailed images of anatomical structures, better visualization is possible even at complex anatomy. Hence, high-definition imaging supports a less invasive approach in guiding interventional radiology procedures, making fewer complications with the intervention thus improving the safety level among patients. This can be in the form of real-time, high-resolution images that help to target abnormalities such as tumours with greater precision and avoid adjacent healthy structures. This may enhance the effectiveness and minimalist of procedures like biopsies, angioplasty, and tumour ablations for the patient.

Further to these imaging advances, advanced interventional tools and techniques are being developed that are responsive to the new grade of imaging. Thus, hospitals and clinics are increasingly investing in IR technology, which they perceive as a potential area for maximizing the outcome for patients and improving health care efficiency. These developments are leading to increased acceptance of IR as an integral medical service within diagnostic and therapeutic care.

Key Findings

• In April 2022, Mediso Ltd announced the acquisition of Bartec Technologies Ltd, a UK-based company specializing in the supply, installation, and support of Nuclear Medicine and Molecular Imaging equipment and accessories. This acquisition is expected to strengthen Mediso’s position in the UK and Ireland markets

Market Opportunities

Increased Focus on Outpatient and Ambulatory Settings

Minimally invasive interventional radiology IR procedures are highly compatible with outpatient and ambulatory care settings, mainly because the recovery times are shorter with these procedures and the minimal need for extended hospitalizations. These procedures, through small incisions and guided imaging, allow patients to recover faster than with traditional surgeries, making them ideal for less expensive outpatient care. And as healthcare systems continue focusing on lowering costs and efficiency in care delivery, so too are outpatient IR procedures on the rise.

This shift allows IR centres to expand their services, thus opening access to a greater number of patients for advanced, minimally invasive treatments. As a result, portable imaging devices and solutions that can be set up and operate quickly in a variety of healthcare settings find increased demand. Portable ultrasound, CT, and fluoroscopy units, among others are allowing IR service providers the opportunity to practice high-level care in out-patient departments, ultimately to align it with a general healthcare outcome of reduced cost and higher patient convenience. This creates a potential market for continuous growth of IR as an industry responding to the emergent healthcare needs.

Key Findings

• In May 2023, Koninklijke Philips N.V., Elekta, and Mercurius Health announced a 3-year agreement, under which Philips and Elekta installed the diagnostic & therapeutic oncology equipment and aligned informatics solutions at Mercurius Health’s newly acquired Robert Janker Klinik cancer center in Bonn, Germany

Market Restraining Factors

Shortage of Skilled Professionals

Interventions in radiology are highly technical fields requiring highly trained people from the ends of both radiologists and technicians. Hence, it needs advanced procedural skills, mastering advanced imaging techniques, handling of highly specialized equipment, and skills necessary for the safe conduction of minimally invasive interventions. However, presently, a critical shortage of these professionals in their entirety exists on the global scale, an obvious challenge to the expansion of IR services. It is impossible to address quickly the workforce gap since this educational path requires long years of dedicated study and practical experience.

This scarcity is mainly felt in the rural and underserved regions, where recruiting and retaining skilled personnel is challenging because of limited resources, fewer professional development opportunities, and patient volumes. As a consequence, patients in these regions will have fewer opportunities to enjoy the benefits of IR: recovery periods will be shorter and complications will be fewer than with open surgery. Investments in special training programs and incentives for attracting and retaining skilled professionals in IR are necessary where they are needed most to solve this problem.

Segmentation Analysis

The market scope is segmented because of by Procedure Type, by Application, by Product Type, by End User.

By Procedure Type

Based on the Procedure Type of the market is segmented into Ablation Procedures, Angioplasty and Stenting, Embolization.

The interventional radiology market of minimally invasive cancer treatments is most prominent in ablation procedures. Techniques include radiofrequency, microwave, and cry ablation. They are popular because they have the ability to target and destroy cancerous tissues with minimal surgery. Radiofrequency ablation is a technique used to destroy tumour cells through heat generated by radio waves, especially in liver, kidney, and lung cancers. Another approach known as microwave ablation applies microwaves for high temperature to treat large-sized tumours and is an effective method if surgical removal is not feasible. Cry ablation freezes tumour cells using extreme cold and is generally applied in prostate and bone cancers.

Angioplasty and stenting are very integral in cardiovascular care, often being used as a form of minimally invasive, open-heart surgery. The example would be a person with blocked coronary arteries to which a stent would be inserted to restore the flow of blood and thereby reduce heart attacks.

There's also another emerging area involving embolization, an operation during which abnormal blood flow would prevent them from continuing to feed problematic areas like uterine fibroids or liver cancers. For instance, during uterine fibroid embolization, doctors block the blood supply through a small catheter injection leading to reduction in size by fibroids and relief for patients from symptoms without involving actual surgeries.

By Application

Based on the Application of the market is segmented into Oncology, Cardiology, Gastroenterology, Urology, and Neurology.

Oncology is the biggest application in the IR market as the incidence of cancer increases globally. Tumour ablation and embolization are the types of IR technologies that provide least invasive treatments for most cancers. For example, in liver cancer, chemotherapy is delivered to the tumour through TACE directly; the blood supply to the tumour is minimized, and so does the systemic side effect with a more targeted therapy. The techniques of radiofrequency ablation and microwave ablation will enable oncologists to deliver higher value to the patient group considered inoperable or at high risk of complications, as they will have a better chance of killing the diseased tissues more precisely.

Another main area in the IR is cardiology, because heart problems are still one of the most common diseases on earth. Angioplasty and stenting to maintain the coronary and peripheral arteries open have also reduced the demand for surgery under the heart. For instance, a patient with coronary artery disease might be treated with the stent that keeps it open and improves blood flow, therefore preventing the possibility of heart attack.

IR also is increasing in gastroenterology and urology and neurology. Neurological applications, such as mechanical thrombectomy, therefore rapidly remove blood clots from the brain to reduce damage and improve results for stroke patients.

Regional Snapshots

By region, Insights into the markets in North America, Europe, Asia-Pacific, Latin America and MEA are provided by the study. North America is the current market leader, due to well-endowed healthcare facilities, a continuous rising demand for minimally invasive procedures, and good investments in health technology. Among the key factors attributed to the increased demand for these procedures in the US include an ageing population along with higher cancer and heart-related diseases cases, meaning the IR procedures, namely, tumour ablation as well as angioplasty are highly demanding. Reimbursement policies being favourable together with the presence of highly esteemed manufacturers of IR equipment’s increase the region's potential growth.

Reasonable healthcare systems plus more and more focus is there for minimally invasive methods of treatments. Germany, France, and the United Kingdom take the lead in that position with government initiatives facilitating medical imaging technologies. Its key area of interest-also is in the treatments related to cancer, whereby various IR procedures like chemoembolization as well as radiofrequency ablation are increasingly performed across these locations. Healthcare spending may still present a barrier to further expansion of the market in many parts of Europe, however.

Asia Pacific is expected to experience the highest growth of the IR market due to rising health expenditures, growth in population, and increasing awareness regarding the benefits of IR. There are a lot of investments going on within China, India, and Japan to strengthen the infrastructure of healthcare facilities. Such investments have specific objectives-improve cancer care and cardiac care. For instance, the incidence of liver cancer in China has sparked a demand for interventional oncology procedures, ablation, and embolization. Rapid urbanization and economic development, coupled with rising disposable incomes, contribute to the demand for IR as more patients seek the least invasive treatment options within these emerging markets.

Latin America, as well as Middle East & Africa, are growth geographies for IR, even though at a slower rate of growth because of scarce medical infrastructure and resultant economic issues. Latin America-specifically Brazil and Mexico-indicates more potential for IR growth on account of increased investments in more healthcare facilities and slow transit toward advanced treatments. The IR market is expanding further in the UAE and Saudi Arabia due to governments' efforts to enhance healthcare services. However, economic disparities as well as an absence of skilled professionals limit the widespread use of IRs in these regions.

Overall regional distribution for the global IR market mirrors a mix of healthcare development, economic growth, and demographics across the regions as a whole, affecting growth and adoption in all regions.

List of Companies Profiled

• Agfa-Gevaert Group
• Canon Medical Systems Corporation
• Carestream Health Inc.
• Cook
• Esaote SPA
• Fujifilm Corporation
• GE Healthcare
• Hologic, Inc.
• Koninklijke Philips N. V
• Olympus Corporation
• Samsung Healthcare (Samsung Electronics Co., Ltd.)
• Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
• Shimadzu Corporation
• Siemens Healthineers
• Teleflex Incorporated

Key Industry Developments

• In November 2022, Canon, Inc. decided to establish an entirely new subsidiary, which would be called Canon Healthcare USA, INC. Canon boosted the development of medical business by expanding its position in the American medical market
• In June 2022, Siemens Healthineers introduced the Symbia Pro.specta, a SPECT/CT system that has received both the CE mark and FDA clearance. This system integrates advanced SPECT and CT imaging technologies. Notable features include a low-dose CT capable of capturing up to 64 slices, offering impressive detail in imaging.

Report Coverage

The report will cover the qualitative and quantitative data on the Global Interventional Radiology Market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.

Report Scope and Segmentations

Regional Analysis

North America accounted for the highest xx% market share in terms of revenue in the Interventional Radiology market and is expected to expand at a CAGR of xx% during the forecast period. This growth can be attributed to the growing adoption of Interventional Radiology. The market in APAC is expected to witness significant growth and is expected to register a CAGR of xx% over upcoming years, because of the presence of key Interventional Radiology companies in economies such as Japan and China.

The objective of the report is to present comprehensive analysis of Global Interventional Radiology Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.

Interventional Radiology Market Report is also available for below Regions and Country Please Ask for that

North America

• U.S
• Canada

Europe

• Switzerland
• Belgium
• Germany
• France
• U.K
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Rest of Europe

Asia-Pacific

• India
• Australia
• Philippines
• Singapore
• South Korea
• Japan
• China
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Argentina
• Peru
• Colombia
• Brazil
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Points Covered in the Report

• The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 5 years data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
• The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Key Questions

• How much the global Interventional Radiology Market valued?
• Which region has the largest share in 2024 for the global Interventional Radiology Market?
• What are the driving factors for the market?
• Which is the leading segment in the global market?
• What are the major players in the market?

Research Scope of the Market

• Historic year: 2019-2022
• Base year: 2023
• Forecast: 2024 to 2032
• Representation of Market revenue in USD Million

Interventional Radiology Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends: