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Interventional Radiology Market size to surpass $40Bn by 2030

  • Published Date: November 1, 2022

Interventional Radiology Market size is set to exceed USD 40 billion by 2030, according to a new research report by Global Market Insights Inc.

Novel imaging technologies have incorporated various advancements and are being used in minimally invasive procedures. During diagnosis, inventive imaging technologies are providing detailed, real-time images of internal organs. Advancements in cross-sectional imaging technology have enabled the integration of radiology into various clinical applications, impacting patient care.

Citing an instance, the MAGNETOM Free Star MRI systems of Siemens Healthineers are deployed with advanced body scan technology. This system is free of helium and consists of ultra-small footprint for high-quality sitting flexibility. It does not need air conditioning tonnage and a high power supply. With such advancements in imaging technology, interventional radiology will play a major role in enhancing patient care.

Growing prevalence of coronary heart disease to increase usage of angiography systems

Interventional radiology market from the angiography systems product segment is expected to register over 6.5% CAGR between 2022-2030. Angiography systems are utilized in treating disorders such as peripheral arterial disease, atherosclerosis, etc. Coronary angiography is used to diagnose blood vessels and cardiac conditions. Unhealthy dietary choices and sedentary lifestyles have escalated the prevalence of heart disorders.

Browse key industry insights spread across 188 pages with 191 market data tables & 16 figures & charts from the report, “Interventional Radiology Market Analysis 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” in detail along with the table of contents:

Interventional radiology to emerge as a preferred diagnostic method in gastroenterology

Interventional radiology market share from the gastroenterology segment is anticipated to be worth over USD 2 billion by 2030. A rising occurrence of gastrointestinal diseases has fostered the usage of various non-invasive diagnostic methods. According to a survey issued in the National Library of Medicine (NLM) in 2021, close to 40% of people across the world are diagnosed with functional gastrointestinal disorders.

Operational cost-effectiveness to boost adoption of interventional radiology in clinics

The interventional radiology industry share from the clinics segment is expected to be valued at USD 10 billion by 2030. Clinics are focusing on expediting and enhancing post-surgery recovery, by delivering high-quality and affordable interventional radiology services and treatment. Furthermore, there is provision of an extensive range of interventional radiology procedures using novel equipment and technology to cater to the patients undergoing diagnosis and treatment. It will drive the development of such healthcare establishments.

Availability of treatment alternatives influence APAC market expansion

Asia Pacific interventional radiology market is anticipated to record 6% CAGR between 2022-2030. Increasing privatization and growing disease burden are driving product adoption in the region. Additionally, advancements in interventional radiology devices and the rapid penetration of health insurance policies will favor the usage of novel diagnostic and treatment tools. A growing awareness among the general population regarding the availability of various treatment alternatives will also complement regional market growth.

Strategic acquisitions from key market players to fuel market dynamics

Some of the major companies involved in the interventional radiology market 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 making key acquisitions to extend their business operations and strengthen their market position.

Authors: Sumant Ugalmugale, Rupali Swain