High prevalence of cancer cases worldwide is expected to drive the interventional radiology market size through 2028. In 2020, there were an estimated 18.1 million cases of cancer across the globe. Interventional radiology (IR) is the preferred way to diagnose and treat cancer and other conditions without major surgery.

It helps with treating cancer by preventing bleeding during surgery and easing pain and cancer treatment side effects. Considered as an alternative to open surgery, interventional radiology procedures offer a myriad of benefits like reduced risk & pain, and shorter recovery times for patients.

The market for interventional radiology is categorized based on product, procedure, application, end-use and regional landscape.

In 2021, the CT scanner product segment was valued at over USD 3,187 million and is projected to witness a 3.5% CAGR by 2028. These scanners are used to diagnose certain medical conditions that require a deeper look at the tissue level as well as at blood vessels, and bones inside the body.

Improved ability to diagnose and treat cancer, lower duration of hospitalizations and guided treatment of common conditions such as injury, cardiac disease, and stroke are some of the many benefits that will drive CT scanner segment growth through 2028.

Escalating instances of peripheral vascular disorder are expected to augment the demand for angioplasty procedures. The angiography segment was valued at over USD 4,385 million in 2021 and is estimated to procure 6.0% market growth. Advancements in healthcare and disease diagnostics have supported the development of new treatment options related to angioplasty.

In 2022, Transit Scientific announced that its new type of scoring and cutting technology XO Score Sheath Platform attained continued success to treat highly-stenosed CVDs (cardiovascular diseases) using low-pressure PTA (peripheral transluminal angioplasty).

In terms of application, the gynecology segment was valued at over USD 2,994 million in 2021 and is anticipated to witness 5.4% CAGR by 2028. Rise in gynecological complications such as breast malignancies has complemented the adoption of interventional radiology procedures of late.

According to the World Health Organization (WHO), in 2020, around 2.3 million women were diagnosed with breast cancer, with 685,000 deaths globally. Increasing awareness about the benefits of new treatment options will supplement interventional radiology market expansion in the gynecology domain.

Ambulatory surgical centers are likely to record high patient footfall in the years to come. In 2021, its segment was valued at over USD 3,925 million. These centers are said to be 45-60% less expensive compared to hospitals, thereby offering significant savings to patients, insurers and taxpayers. The Department of Health and Human Services estimates that around $15 billion could be saved of taxpayers and $3 billion for Medicare patients if all eligible surgeries were carried out at an ASC.

Apart from its low cost, factors like high success rate, availability of board-certified skilled doctors, and faster & more efficient work culture will offer a considerable boost to the ambulatory surgical centers segment

On a regional front, the North America interventional radiology market was valued at over USD 9,243 million. Cases of heart-related issues have escalated across the region in recent years. As per the Centers for Disease Control and Prevention (CDC), about 805,000 people in the United States have a heart attack each year. Presence of leading healthcare firms across the region and spreading awareness and acceptance of novel technologies is expected to support the market to record 4.9% CAGR through 2028.