Hyderabad, July 13, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Interventional Radiology Market Report (2023-2028)," the market is estimated at USD 25.46 billion in 2023. It is expected to register a CAGR of 5.90% during the forecast period.
Interventional radiology (IR) uses radiological image guidance (X-ray fluoroscopy, ultrasound, computed tomography [CT], or magnetic resonance imaging [MRI]) for precise targeted therapy. The high incidence of chronic diseases like heart disease and cancer is increasing the demand for interventional radiology equipment.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 25.46 billion |
| Market Size (2028) | USD 33.91 billion |
| CAGR (2023-2028) | 5.90% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | The rising trend of minimally invasive procedures. |
| Innovation in imaging technologies. |
Who are the Top Companies in the Global Interventional Radiology Market?
The global interventional radiology market is highly fragmented. It consists of international and local players from across the world. Some small and mid-sized companies are also expected to penetrate the market in the future, making use of technological advancements.
The significant players in the global interventional radiology market with the most market share in 2023 are,
- Carestream Health
- Esaote SPA
- GE Healthcare
- Fujifilm Holdings Corporation
- Hologic Inc.
- Koninklijke Philips NV
- Shimadzu Corporation
- Siemens Healthineers AG
- Canon Medical Systems Corporation
- Samsung Medison (Samsung Electronics Co. Ltd)
- Medtronic PLC
- Cook Medical
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Key Highlights from the Global Interventional Radiology Market Report:
Increasing Applications in Cardiology
- As the incidence of cardiac diseases is increasing worldwide, the utilization of radiology procedures for cardiac disease diagnosis is also growing.
- Cardiac MRI plays a critical role in evaluating and monitoring pericardial diseases. It enables the inspection of the heart's anatomy and functions effectively.
- Market players are launching new and innovative products to capture more opportunities in the segment.
North America Dominating the Market
- Over a million cardiac catheterization processes are done in the United States every year. With the increase in geriatric population and diseases, this number is anticipated to go higher in the coming years.
- New product development and launches in the region are pushing the market forward.
What are the Latest Developments in the Global Interventional Radiology Market?
- In November 2022, Konica Minolta Healthcare Americas launched a new point-of-care ultrasound system called Sonimage MX1 Platinum.
- In the same month, Fujifilm Healthcare Americas Corporation launched the Scenaria View Focus Edition Computed Tomography (CT) system in the United States.
Mordor Intelligence has Segmented the Interventional Radiology Market Based on Product, Application, and Geography.
- By Product (Market Size and Forecast based on Value (USD billion), 2018-2028)
- MRI Systems
- Ultrasound Imaging Systems
- CT Scanners
- Angiography Systems
- Fluoroscopy Systems
- Biopsy Devices
- Other Products
- By Application (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Cardiology
- Urology and Nephrology
- Oncology
- Gastroenterology
- Other Applications
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
- South America
- Brazil
- Argentina
- Rest of South America
- North America
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Global Interventional Radiology Market Report (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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