Interventional Radiology Market Estimated at US$ 35,547.3 Million at a CAGR 6.5% By 2028 | Siemens Healthineers AG, Shimadzu Corporation, Koninklijke Philips

Interventional radiology uses minimally invasive image-guided procedures to diagnose and treat numerous diseases in all organ systems. Interventional radiologist treatments consist of stenting, embolization, angioplasty, biopsies and thrombolysis. These treatments can help cure cancer, uterine fibroids, stroke, and more. Interventional radiology uses the concept of minimally invasive techniques to treat and diagnose patients.

The global market for interventional radiology is estimated at US$22,849.9 million in 2021 and is projected to reach US$35,547.3 million during the forecast period till 2028.

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Market leader:

  1. It is estimated that the rising incidence of chronic diseases such as cancer will drive the growth of the global interventional radiology market during the forecast period. For example, imaging techniques such as ultrasound, X-rays, MRI, and CT are used to guide interventional radiological treatments to the site of the cancer. The National Cancer Institute mentioned that by 2040 the number of cancer cases will increase to an estimated 29.5 million and cause nearly 16.4 million deaths. Therefore, the rising cancer cases and the use of IR devices are expected to increase at an accelerating rate.
  2. Rising demand for interventional radiology devices is expected to fuel the growth of the global interventional radiology market during the forecast period. This allows multiple chronic diseases to be treated and diagnosed without surgery, which is expected to boost demand for IR devices. A premium diagnostic imaging solution for digital radiography, ultrasound and mobile computed tomography has been launched by Samsung Electronics Co. Ltd. launched in December 2020 at the Radiological Society of North America for expanding their products into the interventional radiology industry.

Market Restrictions:

It is estimated that rising device prices will hamper the growth of the global interventional radiology market during the forecast period. For example, a study published in Diagnostic Imaging 2021 mentioned that IR relies on equipment that is expensive to both purchase and maintain. CT scanners are available for nearly $2.5 million and MRI scanners are nearly $3 million. The average cost of performing an angioplasty procedure in India varies from 1.2 lakhs to 1.6 lakhs and this cost varies by city and hospital.

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The increasing risks of exposure to high levels of radiation are estimated to hamper the growth of the global interventional radiology market during the forecast period. In interventional radiological procedures, patients are exposed to multiple sets of radiation for therapeutic purposes. Increased exposure to radio waves can have adverse side effects for the patient, which also depends on the level of radiation to which the patient is exposed. Such internal exposures can also result in the deposition of minor elements in multiple organs and bones.

Market Opportunities:

  1. Increasing government initiatives are estimated to offer productive growth opportunities for key players in the global Interventional Radiology Market. Several non-governmental and governmental organizations worldwide are raising awareness of chronic diseases and their treatment with interventional radiology. The WHO tries to maintain and improve the treatment of cardiovascular diseases and cancer. In addition, government organizations are the right care and timely diagnosis for patients.
  2. The increasing preference for minimally invasive procedures is expected to provide productive growth opportunities for key players in the global interventional radiology market. For example, the concept of interventional radiology is estimated to improve health outcomes by using minimally invasive techniques to treat and diagnose patients.

The central theses:

  1. It is estimated that the rising incidence of cardiovascular diseases will drive the growth of the global interventional radiology market during the forecast period. For example, interventional radiology machines are mainly used to diagnose and treat various chronic diseases such as cardiovascular diseases. The World Health Organization mentioned that cardiovascular disease is expected to cause the deaths of 17.9 million people each year. Heart disease is responsible for most deaths in both women and men.
  2. It is estimated that the rising elderly population will drive the growth of the global interventional radiology market during the forecast period. For example, the incidence of chronic diseases is increasing in the geriatric and adult population. Chronic diseases are a leading cause of premature death and disability in the geriatric population. According to the Centers for Disease Control and Prevention, nearly 85% of the elderly population has at least one chronic condition, and nearly 60% of adults have two chronic conditions.
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Market Taxonomy:

By product:

    • MRI systems
    • Ultrasound Imaging Systems
    • CT scanner
    • angiography systems
    • fluoroscopy systems
    • biopsy devices
    • Other products
  • After application:
    • cardiology
    • Urology and Nephrology
    • oncology
    • gastroenterology
    • Other Applications
  • By geography:
    • North America
    • Europe
    • Asia Pacific
    • middle East
    • Africa
    • South America

Key Characters:

Major Players in the global Interventional Radiology Market are: Cook Medica, Carestream Health, Medtronic PLC, Esaote SPA, Samsung Medison, GE, Canon Inc., Fujifilm Holdings Corporation, Siemens Healthineers AG, Hologic, Inc. and Shimadzu Corporation.

Recent Developments:

ESAOTE launched the MyLab X9 ultrasound system in May 2021, which offers the highest level of image quality and data processing. This technology is based on the advanced X ULTRA technology.

Carestream Health and Ziehm Imaging partnered in April 2021 to provide the Ziehm Vision RFD C-arm. This is a surgical imaging system for the company’s mobile and fluoroscopic product offerings for superior image quality and significant exposure reduction.

A diagnostic imaging related business of Hitachi Ltd was acquired by FUJIFILM Healthcare in March 2021 and operated as a wholly owned subsidiary of FUJIFILM.

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Table of Contents

Chapter 1 Industry Overview
1.1 Definitions
1.2 Assumptions
1.3 Scope of Research
1.4 Market Analysis by Regions
1.5 Interventional Radiology Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: Impact on the Interventional Radiology Industry

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Chapter 2 Global Interventional Radiology Competition by Types, Applications, and Top Regions and Countries
2.1 Global Interventional Radiology (Volume and Value) by Type
2.3 Global Interventional Radiology (Volume and Value) by Regions

Chapter 3 Production Market Analysis
3.1 Global Manufacturing Market Analysis
3.2 Regional Manufacturing Market Analysis

Chapter 4 Global Interventional Radiology Sales, Consumption, Export, Import by Regions (2017-2022)
Chapter 5 North American Interventional Radiology Market Analysis
Chapter 6 Market Analysis for Interventional Radiology in East Asia
Chapter 7 Market analysis for interventional radiology in Europe
Chapter 8 South Asia Interventional Radiology Market Analysis
Chapter 9 Market Analysis for Interventional Radiology in Southeast Asia
Chapter 10 Middle East Interventional Radiology Market Analysis
Chapter 11 Market Analysis for Interventional Radiology in Africa
Chapter 12 Market Analysis for Interventional Radiology in Oceania
Chapter 13 Market Analysis for Interventional Radiology in South America
Chapter 14 Company profiles and key figures in the field of interventional radiology
Chapter 15 Global Interventional Radiology Market Forecast (2022-2028)
Chapter 16 Conclusions
research methodology

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