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Interventional Radiology Market – By Product (Angiography Systems, Ultrasound Imaging Systems, CT Scanners, MRI Systems, Fluoroscopy Systems), Application (Cardiology, Oncology, Gynecology, Obstetrics), End Use (Hospitals, Clinics) & Forecast, 2024 – 2032
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Interventional Radiology Market
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Premium Report Details
Base Year: 2023
Companies covered: 11
Tables & Figures: 120
Countries covered: 23
Pages: 100
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Interventional Radiology Market Size
Interventional Radiology Market size was valued at USD 28.1 billion in 2023 and is expected to exhibit growth at a CAGR of 5% from 2024 to 2032. The rising prevalence of chronic disease worldwide and increasing demand for minimally invasive procedures are significantly driving the market growth.
The rising prevalence of chronic diseases is a dominant factor driving the growth of the market, as these minimally invasive procedures offer effective alternatives for diagnosing and treating conditions associated with cardiovascular disease, cancer, and other chronic ailments. The increasing prevalence of chronic diseases is fueled by factors such as aging populations, sedentary lifestyles, and rising rates of obesity and diabetes. According to the World Health Organization (WHO), chronic diseases account for 71% of all deaths globally, with cardiovascular diseases alone responsible for 17.9 million deaths annually. As chronic diseases continue to rise, the need for interventional radiology is expected to grow, offering a critical solution in the global healthcare landscape.
Interventional radiology (IR) is a medical specialty that uses imaging techniques such as X-rays, CT scans, MRI, and ultrasound to guide minimally invasive procedures. These procedures are performed to diagnose and treat various conditions throughout the body without the need for traditional surgery.
Interventional Radiology Market Trends
Technological advancements in imaging technology are one of the most trending factors driving the growth of the market, as they enhance the precision, safety, and effectiveness of minimally invasive procedures.
Interventional Radiology Market Analysis
Based on product, the market is classified into angiography systems, ultrasound imaging systems, CT scanners, MRI systems, fluoroscopy systems, biopsy devices, and other products. The angiography systems segment generated the highest revenue of USD 6.1 billion in 2023.
Based on application, the interventional radiology market is categorized into cardiology, oncology, gynecology, obstetrics, urology, gastroenterology, and other applications. The cardiology segment dominated the market by obtaining 31% of market share in 2023.
Based on end-use, the interventional radiology market is segmented into hospitals, clinics, ambulatory surgical centres, and others. The hospitals segment dominated the market in 2023 and is anticipated to reach USD 22.8 billion by the end of forecast period.
North America interventional radiology market accounted for USD 10.3 billion market revenue in 2023 and is anticipated to grow at a CAGR of 4.3% between 2024 – 2032 period.
U.S. interventional radiology market accounted for USD 9.7 billion market revenue in 2023 and is estimated to hold substantial share between 2024 – 2032 period.
UK interventional radiology market is projected to grow remarkably in the coming years.
Japan holds a dominant position in the Asia Pacific interventional radiology market.
Interventional Radiology Market Share
The market is characterized by the presence of several key players and a focus on technological innovation and strategic partnerships. Companies are investing in AI-driven technologies that provide deeper insights into diagnosis, disease patterns and patient outcomes. Additionally, there is a growing focus on diagnostic solutions with healthcare devices, systems, and software, and procedures to enable timely and accurate outcomes.
Interventional Radiology Market Companies
Prominent players operating in the interventional radiology industry include:
Interventional Radiology Industry News:
The interventional radiology market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments:
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Market, By Product
Market, By Application
Market, By End-use
The above information is provided for the following regions and countries: