Interventional Radiology Market Size, Share, and Industry Analysis By Type (Devices (Ultrasound, Magnetic Resonance Imaging (MRI), Computed Tomography (CT), X-ray, and Others) and Software & Services), By Application (Cardiology, Neurology, Gynecology, Oncology, and Others), By Procedure (Angiography, Angioplasty, Nephrostomy, Vertrebroplasty, and Others), By End User (Hospitals & ASCs, Diagnostic Imaging Centers, Specialty Clinics, and Others), and Regional Forecast till 2032

The global interventional radiology market is projected to expand significantly, driven by growing numbers of chronic disease worldwide and increasing insistence on minimally-invasive operations. A specialized field of radiology technique is known as Interventional radiology (IR). Physicians use IR for imaging to conduct the non-invasive surgical procedures for the treatment, diagnosis, and detection of numerous chronic diseases. It is highly capable in treatment, less costly, and pain relieving. It reduces recovery time and lessens the risk of the patients by conventional open surgery.

• According to the Center for Disease Control and Prevention (CDC), around 9500000 IR procedures were performed in the U.S. in 2023.

They include imaging techniques, which are widely used in procedures. They use medical imaging techniques to help doctors in the treatment of certain problems with lymph and blood vessels all over the body.

Interventional Radiology Market Driver

Rising Demand for Minimally Invasive Surgeries and Technological Advancements Impel Market Growth

The growing aspect for market growth is the growing preference for low-impact procedures. Healthcare service providers and individuals are shifting towards minimal invasive treatment. They are finding it an appropriate procedure due to various benefits, for instance, decreasing recovery time, shorter hospital stay, and lower risk of complications. In addition, increasing frequency of chronic disease among the population is impelling market growth. They are raising demand for the tool for diagnosing several diseases.

• According to the Central Bureau of Statistics, around 470 IR imaging systems were fitted in Sweden in 2023.

Furthermore, embracing advanced technologies into the system is heightening market growth. These innovations are providing robotics-assisted systems, VR, and AI-powered imaging systems. They are improving efficiency and precision of the IR procedures. In addition, rising support from governments and many organizations are propelling market growth. They are initiating reimbursement frameworks in diverse regions, which are encouraging adoption of the IR techniques.

• According to the National Institutes of Health (NIH), about 420 facilities are using robotic-assisted IR systems in North America in 2023.

Interventional Radiology Market Restraint

High Investment Costs and Regulatory Barriers Impede Market Growth

The off-putting factor for market impediment is the rising requirement of high demand for using advanced IR equipment. They are expensive due to utilization of premium components and advanced techniques, which is deterring patients who are cost-sensitive to adopt for this procedure. In addition, lack of expert personnel is hampering market growth. The tools are operated by trained staff that pushes organizations to invest in providing training. This additional expense is hindering market growth.

Furthermore, imposition of regulatory standards by the government is posing a barrier for market growth. It is discouraging manufacturers due to delay in approval of the instrument and satisfying policies is hampering market growth. In addition, rising apprehension regarding exposure of radiation is impeding market growth. Rising potential risks related to radiation exposure is obstructing demand for the tool acceptance.

Interventional Radiology Market Opportunity

Incorporation of Telemedicine and Emerging Markets Expansion Create Opportunity for Market Growth

One of the significant opportunities for market expansion is the rising implementation of telemedicine into the system. It is providing remote imaging capabilities. This improved access to IR services is deprived areas. It is allowing numerous patients to utilize the service and consequently bolstering market growth.

• According to the Ministry of Economy, Trade, and Industry (METI), about 5400 certified IR specialists were practicing in Japan in 2023.

Furthermore, escalating expansion of emerging markets in developing regions is presenting a great option for market growth. It is encouraging market players to expand their presence in untapped areas; rising adoption of advanced medicine procedures is drawing the attention of many customers, hence fostering market growth.

Segmentation

Key Insights

The report covers the following key insights:

• Increasing Pervasiveness of Chronic Diseases by Key Countries
• Integration with Telemedicine by Key Companies
• Drivers, Restraints, Trends, and Opportunities
• Business Strategies Adopted by Key Players
• Consolidated SWOT Analysis of Key Players
• Key Industry Developments (Mergers, Acquisitions, Partnerships)

Analysis by Type

Based on type, the interventional radiology market is divided into devices (ultrasound, magnetic resonance imaging (MRI), computed tomography (CT), X-ray, and others) and software & services.

The MRI segment is dominating in the market, driven by its high-resolution images, which is safer for patients and healthcare suppliers. Its high imaging features and non-invasive methods boost segment growth.

The CT segment is projected to expand in the market due to its exploitation to diagnose disease and evaluating the severity of an injury. It combines numerous x-ray images taken from different angles around the body.

Analysis by Application

Based on application, the interventional radiology market is divided into cardiology, neurology, gynecology, oncology, and others.

The cardiology segment is leading in this market, caused by its contribution of an ample range of minimally-invasive diagnostic and treatment processes. A continuous technical improvement is supporting segment growth.

The oncology segment is projected to grow in the market due to the high practice of radiology in cancer treatment. The radiology techniques have fewer side effects and reduced discomfort that open surgeries.

Analysis by Procedure

Based on procedure, the interventional radiology market is divided into angiography, angioplasty, nephrostomy, vertebroplasty, and others.

The angiography segment is leading in the market, caused by their capability to facilitate accurate visualization of blood vessels. It is adding in the early detection of cardiovascular disease and blockages.

The other segment such as biopsy is gaining traction in the market, driven by its performance after an imaging scan, where an extracted tissue undergoes examination by a pathologist for disease confirmation. It can identify the kind of mass/lump shown on an imaging radiology.

Analysis by End User

Based on end user, the interventional radiology market is divided into hospitals & ASCs, diagnostic imaging centers, specialty clinics, and others.

The hospital & ASCs segment is leading in the market, caused by the growing investments in the IR technology to boost procedural precision, patient safety, and treatment effectiveness. Its accessibility for multidisciplinary medical teams pushes segment growth.

The diagnostic imaging centers are anticipated to grow in this market due to their providing IR services as a standalone service and often offering specialized imaging techniques and a wider range of procedures.

Regional Analysis

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Based on geography, the market has been studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

North America is the dominating region in this market, driven by early acceptance of advanced healthcare facilities. Mounting implementation of non-invasive procedures, which are attracting numerous patients, supports market growth. Moreover, the existences of major market players in this region are contributing to market growth.

Europe is witnessing substantial market growth, attributable to the growing research activities by institutes. Increasing industry-academic collaboration is pushing demand for the tool. Besides, mounting support from the government by funding and promoting advancements in the medical sector is fostering market growth. ​

Asia Pacific is expected to grow at the fastest growth rate in this market. It is due to rising expenditures in medical services. Growth of pharma and biotech sectors is amplifying demand for the product. In addition, rising demand for quality assurance by end-users in healthcare items is impelling market growth.

Key Players Covered

The report includes the profiles of the following key players:

• Esaote SPA (Italy)
• Siemens Healthineers AG (Germany)
• Canon Medical Systems Corporation (Japan)
• Medtronic (Ireland)
• Boston Scientific Corporation (U.S.)
• Koninklijke Philips N.V. (Netherlands)
• FUJIFILM Corporation (Japan)
• GE Healthcare (U.S.)

Key Industry Developments

• In December 2024, Children’s Hospital Los Angeles unveiled the plan of implementation of virtual reality (VR) to improve no-surgical procedures, enhance precision and surgical outcomes as well as patient experience. ​
• In February 2021, Medtronic announced the acquisition of the radial artery access range of products from RIST Neurovascular, Inc., with an intention to enlarge their product line in the IR market.​
• In September 2020, Boston Scientific Corporation confirmed that it has acquired Farapulse, Inc. with an aspiration to augment its offerings in the IR devices market.