Interventional Radiology Market
By Product;
MRI, CT, Ultrasound, and AngiographyBy Procedure;
Angioplasty, Biopsy, Embolization, Thrombolysis, Vertebroplasty, and NephrostomyBy Application;
Cardiology, Oncology, Gastroenterology, Obstetrics, and GynecologyBy End-Use;
Hospitals, Clinics, and Ambulatory Surgical CentersBy Geography;
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America - Report Timeline (2021 - 2031)Interventional Radiology Market Overview
Interventional Radiology Market (USD Million)
Interventional Radiology Market was valued at USD 29,819.38 million in the year 2024. The size of this market is expected to increase to USD 42,805.27 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 5.3%.
Interventional Radiology Market
*Market size in USD million
CAGR 5.3 %
Study Period | 2025 - 2031 |
---|---|
Base Year | 2024 |
CAGR (%) | 5.3 % |
Market Size (2024) | USD 29,819.38 Million |
Market Size (2031) | USD 42,805.27 Million |
Market Concentration | Medium |
Report Pages | 307 |
Major Players
- GE Healthcare
- Siemens
- Koninklijke Philips
- Toshiba Medical Systems
- Hitachi Medical Corporation
- Carestream Health
- Esaote, Hologic Inc.
- Shimadzu Corporation
- Samsung Medison
Market Concentration
Consolidated - Market dominated by 1 - 5 major players
Interventional Radiology Market
Fragmented - Highly competitive market without dominant players
The Interventional Radiology Market is rapidly advancing as minimally invasive techniques become the dominant choice, representing over 68% of procedures performed. These methods offer enhanced outcomes with less trauma, making them ideal for modern healthcare. The rising use of image-guided treatments is driving notable technological advancements and opening up fresh opportunities for expansion in both diagnosis and treatment across various clinical settings.
Next-Gen Imaging and Precision Technology
Innovative imaging systems such as MRI- and CT-guided tools now support over 60% of complex interventional procedures. These solutions are reshaping the landscape with high-precision interventions and improved safety profiles. With AI-driven platforms and robotics entering clinical routines, there is a clear trend toward smart strategies that boost procedural success and operational efficiency. This evolution underscores the market’s future growth potential.
Strategic Collaborations Driving Accessibility
Over 55% of healthcare organizations are entering into collaborations with device manufacturers to streamline access to advanced systems. These partnerships and technology-sharing initiatives enable quicker implementation of interventional radiology tools. Such alliances play a pivotal role in enhancing adoption rates and ensuring expansion across care settings, strengthening the market’s infrastructure and service delivery capabilities.
Industry Consolidation Enhancing Market Reach
With 58% of market growth tied to mergers and strategic partnerships, companies are rapidly consolidating to diversify product lines and reach wider audiences. These moves are enabling innovation-driven expansion, supporting development of next-gen interventional platforms. As demand surges, such collaborative strategies are key to capturing emerging opportunities and reinforcing technological leadership across the market.
Interventional Radiology Market Recent Developments
- November 2022: Konica Minolta Healthcare Americas launched a new point-of-care ultrasound system called Sonimage MX1 Platinum.
- November 2022: Fujifilm Healthcare Americas Corporation announced the United States launch of the Scenaria View Focus Edition Computed Tomography (CT) system, a premium scanner with an advanced Cardiac Motion Correction feature called Cardio StillShot.
- October 2022: GE Healthcare launched its new all-digital PET/CT platform, Omni Legend, designed to enhance operational efficiency.
Interventional Radiology Market Segment Analysis
In this report, the Interventional Radiology Market has been segmented by Product, Procedure, Application, End-use, and Geography.
Interventional Radiology Market, Segmentation by Product
The Interventional Radiology Market has been segmented by Product into MRI, CT, Ultrasound, and Angiography.
MRI
Magnetic Resonance Imaging (MRI) holds approximately 30% share in the interventional radiology market. It offers detailed soft tissue visualization and is widely used in neurovascular and oncological procedures. The modality’s non-ionizing radiation advantage also drives demand.
CT
Computed Tomography (CT) contributes to nearly 28% of the market. It is favored for its speed, precision, and versatility in guiding procedures like biopsies and drain placements. The growing preference for minimally invasive imaging boosts this segment.
Ultrasound
Ultrasound imaging accounts for around 22% due to its real-time guidance, portability, and cost-effectiveness. It is predominantly used in vascular access, ablation therapies, and pediatric interventions.
Angiography
Angiography systems capture about 20% of the market. These systems are critical for vascular imaging, especially in coronary and neurovascular interventions. Technological enhancements like flat-panel detectors enhance image resolution and clinical outcomes.
Interventional Radiology Market, Segmentation by Procedure
The Interventional Radiology Market has been segmented by Procedure into Angioplasty, Biopsy, Embolization, Thrombolysis, Vertebroplasty, and Nephrostomy.
Angioplasty
Angioplasty procedures represent over 26% of the interventional radiology market, primarily due to their effectiveness in restoring blood flow in blocked arteries. This minimally invasive option is commonly used in treating cardiovascular diseases.
Biopsy
Biopsy-guided interventions account for nearly 20% of the market. These procedures enable precise tissue sampling for cancer diagnosis and other conditions, using real-time imaging guidance to enhance accuracy and reduce complications.
Embolization
Embolization techniques hold around 18% market share. They are crucial for controlling bleeding, treating aneurysms, and reducing tumor vascularity, offering a non-surgical alternative with targeted therapy.
Thrombolysis
Thrombolysis interventions make up approximately 14% of the market. These procedures are employed to dissolve blood clots in deep vein thrombosis or pulmonary embolism, using catheter-directed agents.
VertebroplastyInterventional Radiology Market, Segmentation by Application
The Interventional Radiology Market has been segmented by Application into Cardiology, Oncology, Gastroenterology, Obstetrics, and Gynecology.
Cardiology
Cardiology applications dominate the interventional radiology market with nearly 30% share. Procedures such as angioplasty and stent placement are widely adopted for treating coronary artery disease and vascular blockages, ensuring improved patient outcomes.
Oncology
Oncology-focused interventions account for approximately 25% of the market. Interventional radiology plays a vital role in tumor embolization, image-guided biopsies, and radiofrequency ablation, offering minimally invasive cancer treatment.
Gastroenterology
Gastroenterology procedures hold around 18% market share. These include treatments for biliary obstruction, gastrointestinal bleeding, and feeding tube placements, driven by increased demand for endoluminal access.
Obstetrics
Obstetrics-related applications make up close to 15%. Techniques such as uterine artery embolization are increasingly used for postpartum hemorrhage control, enhancing maternal care outcomes.
Gynecology
Gynecology interventions contribute to about 12% of the market. Interventional radiology aids in treating conditions like uterine fibroids and pelvic congestion syndrome through less invasive image-guided techniques.
Interventional Radiology Market, Segmentation by End-use
The Interventional Radiology Market has been segmented by End-use into Hospitals, Clinics, and Ambulatory surgical centers.
Hospitals
Hospitals lead the interventional radiology market with a dominant share of nearly 60%. They are equipped with advanced imaging infrastructure and offer comprehensive care, including emergency radiological procedures, enabling higher procedure volumes and specialist availability.
Clinics
Clinics hold around 25% of the market, serving as specialized centers for outpatient diagnostic imaging and minimally invasive procedures. Their growing presence in urban areas and patient convenience have driven adoption in ambulatory settings.
Ambulatory surgical centers
Ambulatory surgical centers account for approximately 15%. These centers focus on same-day interventions with lower operational costs and shorter recovery times, supporting the trend toward minimally invasive outpatient care.
Interventional Radiology Market, Segmentation by Geography
In this report, the Interventional Radiology Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
Regions and Countries Analyzed in this Report
Interventional Radiology Market Share (%), by Geographical Region
North America
North America dominates the interventional radiology market with over 35% share, driven by a strong presence of advanced healthcare infrastructure, extensive R&D investments, and early adoption of novel radiology techniques in the U.S. and Canada.
Europe
Europe holds approximately 28% of the market, supported by a well-established public healthcare system and increasing demand for minimally invasive procedures. Countries like Germany, the U.K., and France are at the forefront of clinical implementation.
Asia Pacific
Asia Pacific is emerging as the fastest-growing region with a CAGR exceeding 7%. Growth is fueled by increasing medical tourism, expanding hospital networks, and rising awareness of interventional technologies in India, China, and Southeast Asia.
Middle East & Africa
Middle East & Africa represent a smaller but expanding segment, contributing close to 7%. Growth is propelled by healthcare investments in the Gulf region and government initiatives aimed at enhancing specialty care services.
Latin America
Latin America captures around 5% of the global market, led by countries like Brazil and Mexico. Growth is supported by improved diagnostic capabilities, increased focus on chronic disease management, and rising radiology training programs.
Market Trends
This report provides an in depth analysis of various factors that impact the dynamics of Global Interventional Radiology Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.
Drivers, Restraints and Opportunity Analysis
Drivers:
- Minimally invasive procedures
- Increasing chronic diseases
- Expanding medical applications
-
Favorable reimbursement -Favorable reimbursement policies play a crucial role in shaping the landscape of the global interventional radiology market. Governments and private payers around the world have recognized the value of interventional radiology procedures in terms of patient outcomes, cost-effectiveness, and reduced hospital stays. As a result, they have implemented reimbursement policies that incentivize the adoption of these minimally invasive techniques.
One key aspect of favorable reimbursement is the inclusion of interventional radiology procedures in healthcare insurance coverage. When these procedures are reimbursed by insurance providers, patients are more likely to seek them out as treatment options, leading to increased demand and utilization. This, in turn, drives market growth and encourages healthcare providers to invest in advanced interventional radiology technologies and training.
Favorable reimbursement policies can also encompass higher reimbursement rates for interventional radiology procedures compared to traditional surgical methods. This reflects the cost-effectiveness of minimally invasive techniques, which often result in shorter hospital stays, reduced post-operative complications, and faster recovery times. By offering higher reimbursement rates, payers incentivize healthcare providers to prioritize interventional radiology approaches, leading to broader adoption and expansion of the market.
In some regions, government initiatives and healthcare reforms aim to promote value-based care, which emphasizes positive patient outcomes and efficient resource utilization. Favorable reimbursement policies aligned with these initiatives may include bundled payments or episode-of-care reimbursement models, where healthcare providers receive a single payment for the entire course of treatment, encouraging them to deliver cost-effective care while maintaining quality standards.
Overall, favorable reimbursement policies create a conducive environment for the growth of the interventional radiology market by removing financial barriers to access, incentivizing adoption among healthcare providers, and promoting innovation in technology and techniques. As healthcare systems worldwide continue to evolve, reimbursement policies will remain a critical factor influencing the adoption and expansion of interventional radiology services.
Restraints:
- High initial equipment costs
- Limited accessibility in certain regions
- Regulatory hurdles and compliance issues
-
Lack of skilled interventional radiologists -The global interventional radiology market faces a significant challenge in the form of a shortage of skilled interventional radiologists. Despite the increasing demand for interventional radiology procedures across various medical specialties, there is a limited pool of trained professionals to meet this demand.
One factor contributing to this shortage is the specialized nature of interventional radiology training. Becoming proficient in interventional radiology requires not only medical expertise but also specialized training in minimally invasive techniques and the use of advanced imaging technologies. As a result, the pipeline of new interventional radiologists entering the field may not be sufficient to keep pace with growing demand.
The complexity of interventional radiology procedures and the need for continuous skill development present ongoing challenges for maintaining a skilled workforce. Training programs and continuing education opportunities for interventional radiologists must be robust and accessible to ensure that practitioners remain current with advancements in the field.
The shortage of skilled interventional radiologists can have several consequences for healthcare delivery. It may lead to longer wait times for patients seeking interventional radiology procedures, resulting in delays in diagnosis and treatment. Moreover, it can limit the availability of specialized interventional services in certain regions, particularly in underserved areas where access to healthcare resources may already be limited.
The shortage of skilled interventional radiologists requires coordinated efforts from medical education institutions, healthcare organizations, and policymakers. Initiatives to increase the number of training positions for interventional radiology, improve access to advanced training programs, and promote professional development opportunities can help alleviate this challenge and ensure that patients have access to the high-quality interventional radiology services they need.
Opportunities:
- Expansion of minimally invasive procedures
- Growing prevalence of chronic diseases
- Rising demand for image-guided therapies
-
Collaborations and partnerships -The Global Interventional Radiology Market has witnessed numerous collaborations and partnerships among key industry players, academic institutions, research organizations, and healthcare providers. These collaborations aim to foster innovation, enhance research and development efforts, improve patient outcomes, and expand market reach. Here are some notable examples:
Collaboration between interventional radiology device manufacturers and academic institutions or research centers facilitates the exchange of knowledge, resources, and expertise. Such partnerships often involve joint research projects, clinical trials, and educational initiatives aimed at advancing interventional radiology technologies and techniques.
Companies within the interventional radiology market often form strategic alliances to leverage each other's strengths and capabilities. These alliances may involve joint product development, co-marketing agreements, or distribution partnerships to enhance market presence and expand product portfolios.
Collaboration between interventional radiology device manufacturers and technology companies enables the integration of cutting-edge technologies into medical devices. For example, partnerships with digital health firms may focus on developing software solutions for image-guided procedures or remote patient monitoring platforms.
Healthcare providers, including hospitals, clinics, and ambulatory surgical centers, frequently collaborate with interventional radiology device manufacturers to conduct clinical studies and trials. These collaborations generate real-world evidence, validate the efficacy and safety of new devices and procedures, and support regulatory approvals.
Consortia and consortium-based initiatives bring together multiple stakeholders, including industry players, academic institutions, regulatory agencies, and patient advocacy groups, to address common challenges and drive innovation in interventional radiology. These collaborative efforts often receive funding from government grants or private investors to support research projects and technology development.
Educational institutions and professional societies collaborate with industry partners to develop training programs, workshops, and educational materials for healthcare professionals specializing in interventional radiology. These partnerships help disseminate knowledge, promote best practices, and ensure the continuous professional development of clinicians in the field.
Collaborations between interventional radiology device manufacturers and international distributors or healthcare networks facilitate market expansion into new geographic regions. These partnerships involve local market expertise, regulatory compliance, and cultural considerations to effectively penetrate and establish a presence in foreign markets.
Overall, collaborations and partnerships play a vital role in driving innovation, accelerating market growth, and improving patient care within the Global Interventional Radiology Market. By leveraging collective expertise and resources, stakeholders across the interventional radiology ecosystem can address complex challenges and capitalize on emerging opportunities in this dynamic and rapidly evolving field.
Competitive Landscape Analysis
Key players in Global Interventional Radiology Market include.
- GE Healthcare
- Siemens
- Koninklijke Philips
- Toshiba Medical Systems
- Hitachi Medical Corporation
- Carestream Health
- Esaote, Hologic Inc.
- Shimadzu Corporation
- Samsung Medison
In this report, the profile of each market player provides following information:
- Company Overview and Product Portfolio
- Key Developments
- Financial Overview
- Strategies
- Company SWOT Analysis
- Introduction
- Research Objectives and Assumptions
- Research Methodology
- Abbreviations
- Market Definition & Study Scope
- Executive Summary
- Market Snapshot, By Product
- Market Snapshot, By Procedure
- Market Snapshot, By Application
- Market Snapshot, By End-Use
- Market Snapshot, By Region
- Interventional Radiology Market Dynamics
- Drivers, Restraints and Opportunities
- Drivers
-
Minimally invasive procedures
-
Increasing chronic diseases
-
Expanding medical applications
-
Favorable reimbursement
-
- Restraints
-
High initial equipment costs
-
Limited accessibility in certain regions
-
Regulatory hurdles and compliance issues
-
Lack of skilled interventional radiologists
-
- Opportunities
-
Expansion of minimally invasive procedures
-
Growing prevalence of chronic diseases
-
Rising demand for image-guided therapies
-
Collaborations and partnerships
-
- Drivers
- PEST Analysis
- Political Analysis
- Economic Analysis
- Social Analysis
- Technological Analysis
- Porter's Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitutes
- Threat of New Entrants
- Competitive Rivalry
- Drivers, Restraints and Opportunities
- Market Segmentation
- Interventional Radiology Market, By Product, 2021 - 2031 (USD Million)
- MRI
- CT
- Ultrasound
- Angiography
- Interventional Radiology Market, By Procedure, 2021 - 2031 (USD Million)
- Angioplasty
- Biopsy
- Embolization
- Thrombolysis
- Vertebroplasty
- Nephrostomy
- Interventional Radiology Market, By Application, 2021 - 2031 (USD Million)
- Cardiology
- Oncology
- Gastroenterology
- Obstetrics
- Gynecology
- Interventional Radiology Market, By End-Use, 2021 - 2031 (USD Million)
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Interventional Radiology Market, By Geography, 2021 - 2031 (USD Million)
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Nordic
- Benelux
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia & New Zealand
- South Korea
- ASEAN (Association of South East Asian Countries)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- North America
- Interventional Radiology Market, By Product, 2021 - 2031 (USD Million)
- Competitive Landscape
- Company Profiles
- GE Healthcare
- Siemens
- Koninklijke Philips
- Toshiba Medical Systems
- Hitachi Medical Corporation
- Carestream Health
- Esaote, Hologic Inc.
- Shimadzu Corporation
- Samsung Medison
- Company Profiles
- Analyst Views
- Future Outlook of the Market