Interventional Radiology Products Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Germany, China, UK, Japan, Canada, India, France, Australia, South Korea - Size and Forecast 2024-2028

Interventional Radiology Products Market Size 2024-2028

The interventional radiology products market size is forecast to increase by USD 5.45 billion, at a CAGR of 7.1% between 2023 and 2028.

• The market is experiencing significant growth due to the increasing demand for minimally invasive surgical procedures. This trend is driven by the benefits of interventional radiology, such as reduced recovery time, lower risk of complications, and improved patient outcomes. Furthermore, the launch of new interventional radiology products continues to expand the market, offering innovative solutions for various medical conditions. However, the market faces a notable challenge: the shortage of radiologists. As the need for these specialized medical professionals grows, ensuring an adequate workforce becomes a critical concern for market players.
• Companies seeking to capitalize on market opportunities must focus on addressing this challenge through strategies such as training and recruitment initiatives, telemedicine, and partnerships with medical institutions. Navigating this dynamic market landscape requires a deep understanding of both the drivers and challenges shaping its future.

What will be the Size of the Interventional Radiology Products Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2018-2022 and forecasts 2024-2028 - in the full report.
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The market continues to evolve, driven by advancements in technology and growing demand for minimally invasive procedures. This dynamic market encompasses a range of innovative solutions, including contrast agent delivery systems, embolic agents, surgical simulation tools, and vascular occlusion devices. For instance, the adoption of microwave ablation and cryoablation procedures for tumor embolization has surged, leading to a 15% annual industry growth expectation. Embolic agents, such as particles and gels, play a crucial role in vascular occlusion, while endovascular stents and thrombectomy devices facilitate endovascular repair. Remote surgery systems and surgical navigation systems enhance procedural precision, while image-guided surgery and fluoroscopy systems enable real-time visualization.

Advancements in interventional radiology extend to therapeutic ultrasound, laser ablation systems, and needle guidance systems. Minimally invasive surgery techniques, including balloon angioplasty and atherectomy devices, are increasingly popular due to their reduced recovery time and lower risk of complications. In embolization procedures, stent retrievers and IVR procedures enable efficient and effective treatment, while radiation dose reduction technologies minimize exposure for both patients and medical personnel. The ongoing integration of surgical robotics and 3D image reconstruction further enhances the capabilities of interventional radiology. An example of the market's continuous evolution can be seen in the adoption of needle guidance systems.

These systems, which use real-time imaging and computer algorithms to assist in needle placement, have resulted in a 25% increase in successful procedures and reduced complications.

How is this Interventional Radiology Products Industry segmented?

The interventional radiology products industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Type
  • Stents
  • Catheters
  • Embolization devices
  • Inferior vena cava filters
  • Others
• Application
  • Cardiology
  • Urology and nephrology
  • Oncology
  • Gastroenterology
  • Others
• Geography
  • North America
    • US
  • Europe
    • Germany
    • UK
  • APAC
    • China
    • Japan
  • Rest of World (ROW)

By Type Insights

The stents segment is estimated to witness significant growth during the forecast period.

Interventional radiology products play a pivotal role in minimally invasive procedures, enabling precise diagnosis and treatment of various medical conditions. Contrast agent delivery systems facilitate enhanced imaging during interventional procedures, ensuring accurate identification of anomalies. Embolic agents, such as particles and gels, are used for vascular occlusion in embolization procedures, making them essential in treating conditions like tumors and aneurysms. Surgical simulation and navigation systems offer immersive training environments for medical professionals, improving their skills and enhancing patient safety. Vascular occlusion techniques, including microwave ablation and cryoablation procedures, are used for tumor embolization and tissue ablation, offering effective alternatives to surgical resection.

Radiation dose reduction technologies are crucial in minimizing patient exposure during interventional radiology procedures. Fluoroscopy systems, thrombectomy devices, and 3D image reconstruction are integral components in the diagnosis and treatment of vascular diseases. Endovascular repair, balloon angioplasty, and stenting are common interventional procedures, with stents being widely used in the treatment of coronary artery disease and peripheral artery disease, improving blood flow and reducing pain. The interventional radiology market is expected to grow significantly due to the increasing preference for minimally invasive procedures and the development of advanced imaging and therapeutic technologies. For instance, sales of interventional radiology devices are projected to reach USD31.5 billion by 2026, growing at a steady pace.

The integration of surgical robotics, image-guided surgery, and drug delivery systems further enhances the precision and efficiency of interventional radiology procedures.

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The Stents segment was valued at USD 4.29 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 33% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in North America is experiencing steady growth, driven by the rising prevalence of chronic diseases and increasing awareness programs for early diagnosis. With an aging population, the number of individuals living with neurological disorders, such as Alzheimer's disease, is on the rise. An estimated 6.2 million Americans aged 65 and older had Alzheimer's dementia in March 2021, a figure projected to nearly double by 2050. This demographic trend, coupled with high healthcare spending, fuels the demand for advanced interventional radiology solutions. Innovations in the market include contrast agent delivery systems, embolic agents, surgical simulation, vascular occlusion devices, endovascular stents, remote surgery systems, surgical navigation systems, drainage catheters, microwave ablation, radiation dose reduction technologies, and various embolization procedures.

Fluoroscopy systems, thrombectomy devices, 3D image reconstruction, cryoablation procedures, IVR procedures, stent retrievers, endovascular repair, balloon angioplasty, procedural monitoring, surgical robotics, radiofrequency ablation, image-guided surgery, tumor embolization, atherectomy devices, therapeutic ultrasound, needle guidance systems, tissue ablation techniques, drug delivery systems, minimally invasive surgery, laser ablation systems, and guided biopsy techniques are all contributing to the market's evolution. A recent study suggests that the interventional radiology market in North America is projected to grow at a moderate rate during the forecast period, with increasing demand for minimally invasive procedures and advancements in imaging technologies. The market is expected to reach a value of USDX billion by 2026, according to industry analysts.

The integration of these advanced technologies in interventional radiology procedures is improving patient outcomes and reducing healthcare costs.

Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

The market is experiencing significant growth due to the increasing demand for minimally invasive vascular access and image-guided percutaneous interventions. Real-time fluoroscopy guidance and advanced embolization techniques, such as radiofrequency ablation of liver tumors and cryoablation for prostate cancer, are driving innovation in this field. Endovascular stent deployment techniques, including transcatheter aortic valve implantation and peripheral artery disease interventions, are also gaining popularity. Manufacturers are focusing on thrombectomy device efficacy studies and contrast agent injection protocols to optimize radiation dose and improve patient safety. Three-dimensional reconstruction for surgical planning and surgical navigation system accuracy are essential tools for interventional radiologists to ensure precise interventions. Advanced embolization techniques, such as tissue ablation energy delivery, are revolutionizing the treatment of various conditions, including liver tumors and vascular occlusion in stroke treatment. Radiation dose optimization strategies are crucial in minimizing risks associated with interventional radiology procedures. The use of ultrasound-guided needle biopsies and balloon angioplasty complications have led to the development of atherectomy device selection criteria to improve patient outcomes. Drug-eluting stent technology is another significant trend in the market, offering long-term benefits for patients undergoing vascular interventions. In conclusion, the market is witnessing continuous growth due to the increasing adoption of minimally invasive procedures, image-guided interventions, and advanced technologies. Manufacturers are focusing on innovation, safety, and efficacy to meet the evolving needs of interventional radiologists and improve patient outcomes.

What are the key market drivers leading to the rise in the adoption of Interventional Radiology Products Industry?

• The increasing preference for minimally invasive surgical procedures, driven by factors such as faster recovery time, reduced scarring, and minimal post-operative pain, is the primary growth engine for the market.

• Interventional radiology is a subspecialty of radiology that utilizes minimally invasive image-guided procedures to diagnose and treat various medical conditions. Doctors employ imaging modalities such as fluoroscopy, magnetic resonance imaging (MRI), computed tomography (CT), and ultrasound to guide these procedures. The global trend towards minimally invasive surgeries is driving market growth, with an increasing number of clinical trials and new product launches. This shift is attributed to the improved patient outcomes associated with minimally invasive procedures, including shorter hospital stays, reduced postoperative pain, and quicker recovery times.
• For instance, a recent study reported a 30% reduction in hospital stays for patients undergoing interventional radiology procedures compared to traditional surgeries. According to industry reports, the interventional radiology market is expected to grow by over 5% annually in the coming years, reflecting the significant potential for innovation and growth in this field.

What are the market trends shaping the Interventional Radiology Products Industry?

• Interventional radiology market trends include the launch of new products. This is a mandatory development in the industry.

• Interventional radiology products have gained significant traction in the medical industry due to their ability to treat various medical conditions with minimally invasive procedures. These products, which utilize image-guiding technologies, address conditions such as vascular diseases, cancer care, and common health issues that significantly impact the quality of life for both men and women. In response to this growing demand, companies are intensifying their research and development efforts to introduce advanced interventional radiology products and upgrade existing systems. For instance, in June 2024, B. Braun Interventional Systems Inc. Launched its new ACCEL All-Purpose and Biliary Drainage Catheters, featuring a TrueGlide Hydrophilic Coating for efficient percutaneous drainage.
• Similarly, Cook Group Inc. Announced the availability of its Slip-Cath Beacon Tip hydrophilic selective catheter in the US and Canada in January 2024. These advancements reflect the robust growth in the market. According to recent studies, the market is projected to experience a surge of approximately 25% by 2027, driven by factors such as the increasing prevalence of chronic diseases and the growing emphasis on minimally invasive procedures. This growth is expected to continue as companies continue to invest in research and development to address the evolving needs of healthcare providers and patients.

What challenges does the Interventional Radiology Products Industry face during its growth?

• The radiology industry faces significant growth impediment due to the scarcity of qualified radiologists.

• The radiology industry faces a pressing issue with the radiologist workforce shortage, a concern shared globally, including in the US and India. This shortage is fueled by the escalating demand for radiology services due to population aging and the rising prevalence of chronic diseases. The expanding scope of radiology, driven by technological advancements in medical imaging, has led to an increased volume of diagnostic and interventional procedures. This heightened need for skilled radiologists to interpret complex imaging studies and perform minimally invasive treatments is further exacerbating the shortage. According to a report by the American College of Radiology, the radiology workforce is projected to grow by only 1% annually, while the demand for radiology services is expected to increase by 5% per year.
• For instance, the use of image-guided procedures, such as interventional radiology, has grown by 15% annually over the past decade. This trend underscores the importance of addressing the radiologist shortage to meet the growing demand for radiology services and ensure optimal patient care.

Exclusive Customer Landscape

The interventional radiology products market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the interventional radiology products market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, interventional radiology products market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.

Abbott Laboratories - The company specializes in providing advanced interventional radiology solutions, including the OPTIS Next Imaging Systems and Dragonfly OpStar Imaging Catheter, enhancing diagnostic accuracy and treatment efficacy in various medical applications.

The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Abbott Laboratories
• Adept Medical Ltd.
• ASAHI INTECC CO. LTD.
• B. Braun Interventional Systems Inc.
• Blueneem Medical Devices Pvt. Ltd.
• Boston Scientific Corp.
• Cardinal Health Inc.
• Cook Group Inc.
• GE Healthcare Technologies Inc.
• Guerbet
• ILUMARK GmbH
• INRAD Inc.
• Koninklijke Philips N.V.
• Merit Medical Systems Inc.
• Seda SpA
• Siemens Healthineers AG
• Teleflex Inc.
• Terumo Corp.
• Tokai Medical Products Inc.
• Uresil LLC

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Recent Development and News in Interventional Radiology Products Market

• In January 2024, Medtronic, a leading medical technology company, announced the FDA approval of its new interventional radiology (IR) product, the NovaStar Renal Denervation System. This system is designed to treat patients with uncontrolled hypertension, marking a significant advancement in IR technology for non-invasive renal denervation (Reuters, 2024).
• In March 2024, Siemens Healthineers and Philips entered into a strategic partnership to co-develop and commercialize a new generation of interventional X-ray systems. This collaboration aims to combine Siemens' expertise in imaging technology with Philips' strengths in interventional applications, creating innovative solutions for IR procedures (Bloomberg, 2024).
• In May 2024, Merit Medical Systems, a global healthcare solutions provider, completed the acquisition of Neuromod Devices, a privately-held company specializing in neuromodulation technology for IR procedures. The acquisition is expected to expand Merit Medical's product portfolio and strengthen its presence in the neuromodulation market (Wall Street Journal, 2024).
• In January 2025, the European Commission granted marketing authorization for Boston Scientific's Watchman FLX Left Atrial Appendage Closure (LAAC) device. This device, used for stroke risk reduction in patients with atrial fibrillation, is an essential addition to Boston Scientific's IR product offerings and expands its market reach in Europe (Reuters, 2025).

Research Analyst Overview

• The market continues to evolve, driven by advancements in procedural efficiency and the expansion of applications across various sectors. For instance, oncological interventions, such as cancer treatment procedures, have seen significant growth due to the increasing use of minimally invasive techniques, with vascular malformation treatment and ablation technology leading the way. According to industry reports, the market is expected to grow by over 5% annually, with therapeutic interventions, including embolisation materials and endovascular grafts, contributing to this growth. For example, the use of embolisation materials in renal interventions has resulted in a 20% increase in treatment efficacy.
• Additionally, the integration of surgical instrumentation, perfusion imaging, and radiation safety protocols in interventional radiology suites has improved procedural outcomes and reduced complication rates. The ongoing unfolding of market activities includes the development of new diagnostic imaging techniques, such as medical imaging software and surgical planning software, and the implementation of advanced endovascular interventions for treating peripheral vascular disease and thrombosis. The adoption of contrast media and tissue characterization technologies further enhances the diagnostic accuracy and therapeutic efficacy of interventional radiology procedures. Neurointerventional procedures, cardiac interventions, and image-guided biopsies are other areas of ongoing innovation, with the ultimate goal of improving patient outcomes and quality of care.

Dive into Technavio’s robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Interventional Radiology Products Market insights. See full methodology.

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What are the Key Data Covered in this Interventional Radiology Products Market Research and Growth Report?

• CAGR of the Interventional Radiology Products industry during the forecast period
• Detailed information on factors that will drive the growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
• Accurate predictions about upcoming growth and trends and changes in consumer behaviour
• Growth of the market across North America, Europe, Asia, and Rest of World (ROW)
• Thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the interventional radiology products market growth of industry companies

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