According to the latest report by IMARC Group, titled "Global Interventional Radiology Market Size, Share, Industry Trends, Growth, Opportunity and Forecast 2022-2027", the global interventional radiology market size reached a value of US$ 23.22 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 34.53 Billion by 2027, exhibiting a growth rate (CAGR) of 6.60% during 2022-2027.
Interventional radiology (IR) is a technique that relies on radiological image guidance for assisting minimally invasive surgical procedures. Some of the most commonly used IR techniques are X-ray fluoroscopy, magnetic resonance imaging (MRI), ultrasound, and computed tomography (CT). It helps to make small incisions with needles and catheters to dissolve blood clots, block blood flow to cancer cells, reduce nerve pain, repair blood vessels, and treat weak arteries. In addition, it is cost-effective, safe, and less painful compared to traditional surgeries. As a result, IR solutions are widely adopted in urology, cardiology, nephrology, gastroenterology, and oncology sectors across the globe.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Interventional Radiology Market Trends and Drivers:
The market is primarily driven by the growing prevalence of chronic diseases, especially among the geriatric population. In addition, the increasing consumption of fast food by the masses and their sedentary lifestyle are contributing to the market growth.
Moreover, patients are widely adopting minimally invasive (MI) procedures due to their cost-effectiveness, enhanced precision, and minimal hospital stay, which represents another major growth-inducing factor. Apart from this, professionals are widely adopting optical coherence tomography (OCT) and fractional flow reserve (FFR) to treat stenting patients with multi-vessel coronary artery disease (CAD).
This, coupled with various technological innovations, such as the integration of augmented reality (AR) and artificial intelligence (AI) with IR devices to detect abnormalities and anomalies in medical images, and the implementation of favorable government initiatives to generate awareness about effective (IR) techniques for cancer diagnosis is also creating a positive market outlook across the globe.
Interventional Radiology Market Report Scope
Report Coverage
Details
Market size value in 2021
US$ 23.22 Billion
Market forecast in 2027
US$ 34.53 Billion
Growth Rate
CAGR of 6.60% from 2022 to 2027
Base year for estimation
2021
Historical data
2016-2021
Forecast period
2022-2027
Report coverage
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered
Test Type, Product, Application and End User
Regional scope
North America, Europe, Asia-Pacific, Latin America, Middle East and Africa
Key companies profiled
Boston Scientific Corporation, Cook Group Incorporated, Esaote SpA, Fujifilm Holdings Corporation, General Electric Company, Hologic Inc, Koninklijke Philips N.V., Medtronic plc, Nipro Corporation, Shimadzu Corporation, Siemens Aktiengesellschaft and Teleflex Incorporated.
Market Dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Global Interventional Radiology Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Top Key Players
Boston Scientific Corporation BSX
Cook Group Incorporated
Esaote SpA
Fujifilm Holdings Corporation 4901
General Electric Company
Hologic Inc HOLX
Koninklijke Philips N.V. PHIA
Medtronic plc
Nipro Corporation
Shimadzu Corporation
Siemens Aktiengesellschaft
Teleflex Incorporated
The report has segmented the market on the basis of region, product, procedures, application and end use.
Breakup by Product:
Breakup by Procedures:
Breakup by Application:
Breakup by End Use:
Breakup by Region:
Explore Report Description with TOC & List of Figure https://www.imarcgroup.com/interventional-radiology-market
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Key highlights of the report:
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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