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  • Interventional Radiology Market Growth Analysis | 2022-2028

    Interventional Radiology Market Growth Analysis | 2022-2028

    Interventional Radiology Market Growth Analysis | 2022-2028
    Report code - SRHL126 Delivery - 2 Weeks
    Interventional Radiology Market Size, Share, Trend, Dynamics, Forecast, & Growth  See more...

    Market Insights

    The interventional radiology market size was estimated at USD 24.5 billion in 2021 and is likely to grow at a CAGR of 5.3% during the forecast period of 2022-2028 to reach USD 35.16 billion in 2028.

    Interventional-Radiology-Market-Size-Chart

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    What is interventional radiology?

    Interventional radiology (IR) is image-guided, minimally invasive medical treatment. The use of medical imaging technique to guide doctors in the treatment of certain problems with blood vessels and lymph vessels throughout the body is known as Interventional Radiology (IR).

    Interventional Radiology Market Highlights

    Market Size in 2028

    USD 35.16 Billion

    Market Size in 2021

    USD 24.5 Billion

    Market Growth (2022-2028)

    CAGR of 5.3%

    Base Year of Study

    2021

    Trend Period

    2016-2020

    Forecast Period

    2022-2028

    Key Players

    Some of the key players in the interventional radiology market are-

    • Carestream Health
    • Esaote S.P.A.
    • GE Healthcare
    • Hitachi Medical Corporation
    • Hologic Inc.
    • Koninklijke Philips N.V.
    • Samsung Medison Co., Ltd.
    • Shimadzu Corporation
    • Siemens AG
    • Toshiba Medical Systems Corporation

    Segment Analysis

    The demand for interventional radiology technologies such as CT scans, MRIs, ultrasounds, and others is driven by the shifting consumer preference for minimally invasive procedures. Minimally invasive surgeries have grown in popularity as they are cost-effective and require a shorter hospital stay. These factors, combined with the rising occurrence of various chronic diseases, particularly among the elderly, are expected to boost the technology adoption significantly, thereby contributing to the growth of the market over the forecast period.

    Interventional-Radiology-Market-Snapshot

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    Segment Analysis

    By Product Type

    The market is segmented as MRI systems, CT scanners, ultrasound imaging systems, angiography systems, fluoroscopy systems, biopsy devices, and others. CT scanners are expected to account for the lion's share of the market during the forecast period due to the increasing demand for surgical, medical, or radiation treatment planning, as CT scans combine a number of X-ray images captured from various angles around the body and processes them to build cross-sectional images or slices of blood vessels, tissues, and bones. Furthermore, technological advancements in the healthcare sector are expected to drive the market growth over the forecast period.

    By Procedure Type

    The market is segmented as angiography, angioplasty, biopsy, embolization, thrombolysis, vertebroplasty, nephrostomy, and others. Angiography is expected to be the dominant procedure type in the market during the forecast period. The growth of the segment is driven by the increasing demand for minimally invasive procedures and the growing prevalence of cardiovascular diseases.  Angiography also provides real-time imaging for better treatment. This is further expected to drive the market growth during the forecast period.

    By Application Type

    The market is segmented as cardiology, oncology, gastroenterology, urology & nephrology, obstetrics, gynecology, and others. The cardiology application segment is estimated to account for the major share of the market during the forecast period owing to the increasing cardiovascular diseases coupled with aging population. Radiologists use ultrasound, CT scans, MRIs, and other technologies to diagnose heart disease and assess its causes and symptoms.

    Regional Analysis

    North America is estimated to be the leading region in the market due to the growing number of chronic diseases, changing lifestyles, aging population, and the increasing demand for less expensive interventions. In addition, new product developments and technology advancements are further expected to fuel the market growth over the forecast period. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.

    Interventional-Radiology-Market-Regional-Analysis

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    Segmentation

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

    Report - Features

    Market Segmentation

    5

    Regions Covered

    4

    Countries/Sub-Regions Covered

    17

    No. of Figures & Tables

    >120

    Company Profiles

    10

     

    The market is segmented in the following categories-

    By Product Type:

    • MRI Systems
    • CT Scanners
    • Ultrasound Imaging Systems
    • Angiography Systems
    • Fluoroscopy Systems
    • Biopsy Devices
    • Others

    By Procedure Type:

    • Angiography
    • Angioplasty
    • Biopsy
    • Embolization
    • Thrombolysis
    • Vertebroplasty
    • Nephrostomy
    • Others

    By Application Type:

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

    By End-Use Type:

    • Hospitals
    • Clinics
    • Ambulatory Surgical Centers

    By Region:

    • North America (Country Analysis: the USA, Canada, and Mexico) 
    • Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

    Research Methodology

    This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Interventional Radiology Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market Segment Analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Report Customization Option

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation by any one of the product types by application type.

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    The interventional radiology market is expected to witness an impressive growth of 5.3% CAGR in the coming years.

    The interventional radiology market size was estimated USD 24.5 billion in 2021.

    CT scanner is expected to account for the largest share in the market in the coming years.

    The interventional radiology market size is expected to reach USD 35.16 billion in 2028.

    Carestream Health, Esaote S.P.A., GE Healthcare, Hitachi Medical Corporation, Hologic Inc., Koninklijke Philips N.V., Samsung Medison Co., Ltd., Shimadzu Corporation, Siemens AG, Toshiba Medical Systems Corporation are among the key players in the market.

    The shifting consumer preference for minimally invasive procedures, rising occurrence of various chronic diseases are among the factors driving the growth of the market.

    North America is expected to be the leading region in the market during the forecast period.

    Cardiology application type is expected to account for the major share in the market in the upcoming years.