Home > Healthcare & Medical Devices > Interventional Radiology Market

Interventional Radiology Market Size By Product (MRI Systems, CT Scanners, Ultrasound Imaging Systems, Angiography Systems), By Application (Cardiology, Oncology, Urology, Gastroenterology, Obstetrics, Gynecology), By End-use (Hospitals, Clinics, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2030

  • Report ID: GMI3576
  • Published Date: Oct 2022
  • Report Format: PDF

Industry Overview

Interventional Radiology Market size was valued at USD 24.5 billion in 2021 and is expected to depict over 5% CAGR from 2022-2030.
 

Get more details on this report - Request Free Sample PDF
 

Rising occurrence of acute diseases worldwide has increased the demand for novel diagnostic and treatment methods. Imaging techniques such as CT scanners, MRI, angiography systems, and ultrasound imaging systems are widely used for clinical procedures for acute liver, bowel, lung, and kidney cancer disorders. With increasingly unhealthy lifestyles and a growing geriatric population, the prevalence of cancer is growing steadily across several nations, thus increasing the acceptance of diagnostic methods like interventional radiology.
 

It is anticipated that the high initial cost of interventional radiology products in addition to the availability of used and refurbished machines may hamper the interventional radiology market progress. The cost of MRI systems, CT scanners, and ultrasound imaging systems vary depending on the type of instrument, brand, and the number of years used. Brand new advanced machines, for instance, can cost over USD 1 million. The average cost of a CT scanning system ranges from USD 285,000 to USD 2 million depending on the manufacturer and the technology. These high costs may prevent customers from adopting interventional radiology over the years, which may, in turn, impede market development.
 

Widespread applicability of ultrasound imaging systems to influence market dynamics

Get more details on this report - Request Free Sample PDF
 

Interventional radiology market from the ultrasound imaging systems product segment is anticipated to exhibit 4.5% CAGR from 2022 to 2030. Ultrasound systems are used for sonography procedures and the diagnosis of other imaging modalities. These include technologies such as bone sonometry, abdominal ultrasound, and breast ultrasound. Since ultrasound imaging systems do not emit any radiation, they also demonstrate benefits such as high efficacy and safety, bolstering the product adoption.
 

Clinical advantages of interventional radiology to foster its use in oncology applications

Get more details on this report - Request Free Sample PDF
 

Interventional Radiology Market from the oncology application segment is projected to reach over USD 10 billion by 2030. Growing occurrence of cancer in addition to supportive government initiatives to spread awareness for early detection of the disease are among the major factors promoting the use of advanced diagnostic tests. Interventional oncology uses targeted minimally invasive procedures to facilitate the treatment of cancer and related disorders by using imaging devices. Clinical advantages such as these will thus make interventional radiology a preferred diagnostic method for various oncological conditions.
 

Interventional radiology to emerge as a convenient diagnostic method in ASCs

The interventional radiology market from the ambulatory surgical centers end-use segment is expected to be worth over USD 6 billion by 2030. Rising occurrence of acute diseases and the growing need for urgent attention from healthcare professionals has increased the development of ambulatory surgical centers (ASCs). The ease of receiving therapy in these facilities supports the adoption of advanced diagnostic and treatment methods.
 

As interventional radiology procedures are minimally invasive, ASC can utilize them in operations such as port deployments to provide chemotherapy for cancer patients. They can also offer the diagnosis and treatment of peripheral artery diseases to enhance blood flow to the legs, further contributing to product consumption.
 

Rising number of cardiovascular patients influence Europe market trends

Get more details on this report - Request Free Sample PDF
 

Europe interventional radiology market is projected to depict over 5% CAGR from 2022-2030. This is credited to the rising number of cardiovascular disease patients in the region. In Germany, the mortality rate from cardiovascular and chronic diseases is around 40% among adult and geriatric patients.
 

Based on a study published in a journal issued by the Environmental Research and Public Health, over 64.3% of male and 32.7% of female patients diagnosed by MRI and CT scans were cured using minimally invasive methods, including interventional radiology. The growing occurrence of CVD, in addition to increasing preference for minimally invasive operations, will augment the regional market size.
 

Key product launches from industry players to expand market landscape

Some of the major companies operating in the interventional radiology industry include Samsung Electronics Co. Ltd, GE Healthcare, Canon Medical System Corporation, Koninkilijke Philips N.V., Siemens Healthineers, Olympus Corporation, Shimadzu Corporation, Fujifilm Corporation, Hologic Inc., Esaote SPA and Carestream Health Inc. Companies are focusing on launching novel products to expand their offerings and business operations.
 

Impact of COVID-19 crisis on interventional radiology market trends

The COVID-19 outbreak had a significant impact on radiology procedures worldwide. Since interventional radiology procedures need both surgical interventions and diagnostic imaging, the pandemic caused a decline in diagnostic imaging requirements in its initial stages. Therefore, the COVID-19 pandemic had a short-term negative impact on the market. However, the market has recorded a substantial recovery since 2021, given the gradual resumption of non-COVID-related treatments.
 

The interventional radiology market report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2017 to 2030 for the following segments:

By Product

  • MRI Systems
  • CT Scanners
  • Ultrasound Imaging Systems
  • Angiography Systems
  • Others

By Application

  • Cardiology
  • Oncology
  • Urology
  • Gastroenterology
  • Obstetrics
  • Gynecology
  • Others

By End-use

  • Hospitals
  • Clinics
  • Ambulatory Surgical Centers
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • UK
    • Spain
    • Italy
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE

 

Authors: Sumant Ugalmugle, Rupali Swain

Frequently Asked Questions (FAQ) :

Global market size for interventional radiology was worth over USD 24.5 billion in 2021 and is expected to depict over 5% CAGR from 2022-2030, with the growing prevalence of chronic diseases.
Ultrasound imaging systems segment is projected to exhibit more than 4.5% CAGR from 2022-2030, on account of the widespread applicability in sonography and diagnostic imaging procedures.
Europe interventional radiology market is anticipated to register over 5% CAGR from 2022-2030 due to the growing number of CVD patients in the region.
Samsung Electronics Co. Ltd, GE Healthcare, Canon Medical System Corporation, Koninkilijke Philips N.V., and Siemens Healthineers are some of the companies operating in market.

Buy Now

Immediate Delivery Available

Premium Report Details

  • Base Year: 2021
  • Companies covered: 11
  • Tables & Figures: 207
  • Countries covered: 18
  • Pages: 188
  • Upcoming Report: Details can be customized to meet your information and data needs. Feel free to share your detailed research requirements via this form.

Get a report that explains COVID-19 impact on this market

 Request Free Sample

Budget constraints? Get in touch with us for special pricing

Request Discount