The global interventional radiology market 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 CAGR of 6.60% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

Interventional radiology (IR) refers to several techniques that rely on radiological images guidance, such as X-ray fluoroscopy, ultrasound, computed tomography (CT), and magnetic resonance imaging (MRI), to diagnose and cure diseases. It helps make small incisions in the abdomen using needles and catheters. It is widely utilized for repairing blood vessels, treating weak arteries, dissolving blood clots, blocking blood flow to cancer cells, and reducing nerve pain. In addition, as it is less expensive, risky, and painful as compared with traditional surgeries, IR finds extensive application in oncology, cardiology, urology and nephrology, and gastroenterology across the globe.

Interventional Radiology Market Trends:
The growing prevalence of chronic diseases on account of the increasing consumption of fast food and the sedentary lifestyle of individuals represents one of the key factors driving the market. Moreover, rising minimally invasive (MI) procedures as they are cost-effective and require lesser hospital stays, along with the augmenting healthcare expenditure, is propelling the growth of the market. In addition, technological advancements in imaging technologies, which provide real-time images to radiologists for showing a comprehensive view of internal organs, are stimulating the market growth. Besides this, there is an increase in the utilization of augmented reality (AR) technology that offers the ability to move scopes and devices inside the body and interact with the surroundings. This, coupled with various developments in artificial intelligence (AI) to detect abnormalities and anomalies in medical images, is positively influencing the market. Additionally, the expanding application of optical coherence tomography (OCT) and fractional flow reserve (FFR) for stenting patients with multi-vessel coronary artery disease (CAD) is contributing to the growth of the market. Furthermore, governments of several countries are generating awareness about the effectiveness of IR techniques for the diagnosis of cancer, which is bolstering the market growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global interventional radiology market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product, procedures, application and end use.

Breakup by Product:

Magnetic Resonance Imaging (MRI)
Ultrasound Imaging Systems
Computed Tomography (CT) Scanners
Angiography Systems
Fluoroscopy Systems
Biopsy Devices
Others

Breakup by Procedures:

Angiography
Angioplasty
Embolization
Vertebroplasty
Thrombolysis
Nephrostomy Placement
Others

Breakup by Application:

Cardiology
Urology and Nephrology
Oncology
Gastroenterology
Others

Breakup by End Use:

Hospitals
Clinics
Ambulatory Surgical Centers

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.

Key questions answered in this report:
How has the global interventional radiology market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global interventional radiology market?
What are the key regional markets?
What is the breakup of the market based on the product?
What is the breakup of the market based on the procedures?
What is the breakup of the market based on the application?
What is the breakup of the market based on the end use?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global interventional radiology market and who are the key players?
What is the degree of competition in the industry?