Global Interventional Radiology Imaging Market

Market Scope:

The global Interventional Radiology Imaging market is projected to grow significantly, registering a CAGR of 4.8% during the forecast period (2024 – 2032).

Interventional radiology (IR) is a medical specialty that uses imaging guidance to perform minimally invasive procedures for diagnostic and therapeutic purposes. Interventional radiologists are medical doctors who specialize in using imaging techniques, such as fluoroscopy, ultrasound, CT scans, and MRI, to guide medical procedures. These procedures are typically performed through small incisions or natural body openings, reducing the need for traditional open surgery. Ongoing advancements in imaging technologies provide interventional radiologists with clearer and more detailed images, enhancing their ability to diagnose and treat conditions with precision. Interventional radiology is expanding its applications to treat a wide range of medical conditions beyond vascular disorders. Procedures now include interventions in oncology, musculoskeletal, gastrointestinal, genitourinary, and neurology. Ongoing innovations in interventional radiology technologies, including robotics, advanced catheters, and image-guided therapies, contribute to the field's growth and effectiveness. Interventional radiologists often collaborate with other medical specialties, including surgery, oncology, and cardiology, to provide comprehensive care. This collaborative approach enhances the demand for interventional radiology in various medical settings.
Market Overview:
Driver: Increasing technological advancement is driving the market growth

Ongoing technological advancements in imaging, navigation, and intervention devices present significant market opportunities. Companies investing in research and development to create innovative and advanced technologies can capitalize on the demand for more precise and minimally invasive procedures. Continuous improvements in imaging resolution, contrast, and speed contribute to more accurate and detailed visualization of anatomical structures. Techniques like functional MRI, diffusion-weighted imaging, and dynamic contrast-enhanced imaging provide additional information about tissue characteristics, aiding in diagnosis and treatment planning. Advanced navigation systems enable three-dimensional mapping of the vascular or organ structures, enhancing precision during interventions. Integration of robotic systems in interventional procedures allows for enhanced dexterity and control, leading to more precise and minimally invasive interventions. Ongoing research and development lead to the creation of catheters and guidewires with improved flexibility, steerability, and trackability for navigating complex anatomies. Devices with drug-eluting capabilities, such as drug-eluting stents or embolic agents, are designed to deliver therapeutic agents directly to target areas during interventions. Advancements in techniques like radiofrequency ablation and microwave ablation provide effective alternatives for treating tumors and other abnormalities.

Opportunities: Growing demand for minimally invasive surgeries is anticipated for the market growth in the upcoming years.

The increasing demand for minimally invasive alternatives to traditional surgical procedures has created a favorable environment for interventional radiology. As a field that specializes in less invasive techniques, interventional radiology is well-positioned to meet this demand, providing patients and healthcare providers with alternatives that often result in shorter recovery times, reduced hospital stays, and improved outcomes. Companies that offer devices and technologies enabling safer and more effective minimally invasive procedures can indeed benefit from this trend. Minimally invasive procedures can contribute to cost savings for healthcare providers and payers due to shorter hospital stays, reduced postoperative care, and potentially lower complication rates. Companies offering technologies that facilitate efficient and cost-effective interventional procedures may find increased adoption by healthcare providers seeking to optimize resources. Ongoing advancements in interventional radiology technologies contribute to making procedures even less invasive and more precise. This includes improvements in imaging, navigation, and intervention devices. Companies investing in cutting-edge technologies that enhance the safety and efficacy of minimally invasive procedures can gain a competitive edge.
Covid Impact:
The COVID – 19 impacts on the Interventional Radiology Imaging market were seen on various fronts that include the major vertical is the Cardiology and Oncology and other healthcare sector. Interventional radiologists contributed to research efforts related to COVID-19. Imaging, including chest CT scans, played a role in diagnosing and monitoring COVID-19 cases. IR may have been involved in studies assessing the impact of the virus on vascular health and other related areas. Interventional radiologists, like other healthcare professionals, played a role in vaccination efforts. This might involve administering vaccines or providing support for vaccination clinics. Enhanced infection control measures became standard in interventional radiology suites. This included thorough cleaning and disinfection of equipment and facilities, as well as strict adherence to hand hygiene and respiratory precautions. Some interventional radiology departments modified workflows to accommodate the challenges posed by the pandemic. This might include changes to scheduling, patient flow, and room turnover procedures. Despite the disruptions caused by the pandemic, certain interventional radiology procedures were deemed essential and continued without interruption. Emergency and urgent interventions, such as those related to vascular emergencies or cancer care, were prioritized.
Segmentation Analysis:
The MRI systems segment is anticipated to grow significantly during the forecast period

Interventional radiology (IR) imaging involves the use of various imaging modalities to guide minimally invasive procedures, and magnetic resonance imaging (MRI) is one of the key technologies employed in this field. MRI provides excellent soft tissue contrast and allows for real-time imaging during certain interventional procedures. Interventional procedures guided by MRI are known as MRI-guided interventions. This approach is particularly valuable for procedures in soft tissues, such as the liver, prostate, and brain. It provides real-time imaging without ionizing radiation, making it advantageous for certain patient populations. MRI systems are used for navigation and visualization during various interventional radiology procedures. The real-time images help guide catheters, needles, and other devices to the targeted area with precision. MRI is frequently employed in interventional radiology for procedures such as image-guided biopsies and tumor ablations. The high soft tissue contrast allows for better identification of abnormalities and precise targeting during these interventions. In addition to general soft tissue interventions, MRI is utilized for vascular and neurointerventions. It can aid in the diagnosis and treatment of vascular conditions, including aneurysms and malformations, as well as neurointerventions such as embolization for vascular lesions. Functional MRI techniques, such as perfusion and diffusion-weighted imaging, can be utilized to provide additional information about tissue characteristics. This may aid in planning and monitoring interventions.
Regional Analysis:
The North American region is set to witness significant growth during the forecast period.

North America has been a hub for clinical trials and research in interventional radiology. Ongoing studies aim to assess the effectiveness of new techniques, devices, and drugs, contributing to the continuous improvement of interventional radiology practices. Many clinical trials focus on evaluating the effectiveness of new devices used in interventional radiology procedures. This may include catheters, guidewires, embolic agents, and other tools designed to improve precision and outcomes in various interventions. The regulatory environment in North America, overseen by agencies such as the U.S. Food and Drug Administration (FDA) and Health Canada, provides a framework for conducting clinical trials while ensuring patient safety and ethical standards. North America hosts various clinical trial networks and consortia that bring together multiple institutions to collaborate on research projects. These networks facilitate the recruitment of large patient populations and the sharing of resources and expertise. North America is home to many highly skilled healthcare professionals and researchers specializing in interventional radiology. Their expertise contributes to the design, implementation, and analysis of clinical trials. Collaboration between academic institutions, healthcare providers, and industry partners is robust in North America. This collaboration fosters the development and testing of new technologies and interventions in interventional radiology.
Competitive Analysis:
The global Interventional Radiology Imaging market is reasonably competitive with mergers, acquisitions, and product launches. See some of the major key players in the market.

General Electric

• In 2023, MediView and GE Healthcare are expected to break a deal and bring Augmented Reality Solutions to Medical Imaging for the Interventional Space.

Koninklijke Philips N.V.

• In 2023, Royal Philips, a pioneer in health technology globally, today unveiled its portfolio of vendor-neutral integrated radiology workflow solutions and smart, networked imaging equipment for radiology. Philips will present its most recent advancements in the fields of radiology, cardiology, pathology, and oncology through MR, CT, diagnostic X-ray, and ultrasound. Among these innovations is MR Smart Speed, a cutting-edge imaging technology that combines Philips' cutting-edge speed engine with an AI that has won multiple awards.

Carestream Health

ESAOTE SPA

Hitachi, Ltd.

Hologic, Inc.

Shimadzu Corporation

Siemens Healthcare GmbH

Canon medical systems corporation

Samsung Medison Co., Ltd.

Medtronic

Agfa-Gevaert Group

Teleflex Incorporated
Scope of the Report
By Product

• MRI Systems
• CT Scanners
• Ultrasound Imaging Systems
• Angiography Systems

By Applications

• Cardiology
• Oncology
• Urology
• Gastroenterology
• Obstetrics
• Gynecology

By Region

• North America (the United States & Canada)
• Europe (Germany, UK, France, Spain, Italy, and the Rest of Europe)
• Asia Pacific (China, Japan, India, and Rest of Asia Pacific)
• Rest of the World (the Middle East & Africa, and Latin America)

Key reason to purchase this report

It provides a technological development map over time to understand the industry’s growth rate and indicates how the Interventional Radiology Imaging market is evolving.

The report offers a dynamic method to various factors that drive or restrain the growth of the market and specifies which Interventional Radiology Imaging submarket will be the main driver of the overall market from 2024 to 2032.

It renders a definite analysis of changing competitive dynamics and stipulates the leading players and what are their prospects over the forecast period.

It builds a nine-year estimate based on how the market is predicted to grow and shows what will market shares of the global region change by 2032 and which country will lead the market in 2032.