Interventional Radiology Market Size

Interventional Radiology Market Size

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

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.