The global interventional radiology products market is poised for substantial growth, with forecasts indicating it to reach US$ 23.9 billion by 2024 and an impressive projection to surge to US$ 48.8 billion by 2034, boasting a 7.4% Compound Annual Growth Rate (CAGR). This dynamic industry has witnessed significant expansion in recent years, positioning Interventional Radiology (IR) as one of the most rapidly evolving fields in healthcare.
Technological advancements and the development of innovative techniques play pivotal roles in shaping the future landscape of interventional radiology. With the continuous evolution of technology, a plethora of emerging technologies such as augmented reality, robotics, virtual reality, and artificial intelligence (AI) are expected to revolutionize the field.
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Interventional radiologists are poised to benefit immensely from these cutting-edge technologies. By integrating augmented reality, robotics, virtual reality, and AI into their practices, interventional radiologists can anticipate enhanced procedural accuracy, improved patient outcomes, and an expanded scope of practice. These advancements not only elevate the standard of care but also pave the way for more personalized and effective treatments for patients.
As the interventional radiology market continues its upward trajectory, stakeholders are urged to embrace innovation and stay abreast of emerging technologies to capitalize on the opportunities presented by this dynamic sector. The future of interventional radiology is bright, with technology serving as a catalyst for transformative advancements that will shape the landscape of healthcare for years to come.
Key Takeaways from the Market Study:
- Stents are projected to record a CAGR of 7.2% from 2024 to 2034.
- A 7.7% CAGR is expected for the United States between 2024 and 2034.
- A compound annual growth rate of 6% is expected between 2024 and 2034 for the United Kingdom market.
- A US$ 8 billion is predicted to be generated by China by 2034.
- A CAGR of 6.9% is expected for the cardiology segment by 2034.
“Imaging technologies and technological advancements are expected to drive demand for interventional radiology products. Minimally invasive procedures and a rising regulatory environment will likely drive the interventional radiology products market.” opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI).
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Interventional Radiology Products Market Report Scope:
| Attributes | Details |
| Estimated Market Size in 2024 | US$ 23.9 billion |
| Projected Market Valuation in 2034 | US$ 48.8 billion |
| Value-based CAGR 2024 to 2034 | 7.4% |
| Forecast Period | 2024 to 2034 |
| Historical Data Available for | 2019 to 2023 |
| Market Analysis | Value in US$ billion |
| Key Regions Covered |
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| Key Market Segments Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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Competitive Landscape:
The competitive landscape of the interventional radiology products market is extremely competitive due to technological innovations, strategic partnerships, and market consolidation.
- In March 2023, the TRAVELERTM Portal Vein Access Series will be the latest addition to Argon Medical Device’s portfolio of portal vein access products for interventional radiology, vascular surgery, interventional cardiology, and oncology. Physicians performing Transjugular Intrahepatic Portosystemic Shunts (TIPS) will benefit from the product line as it meets their challenging needs.
- In December 2023, RenovoRx, Inc., which develops novel precision oncology therapies through local drug delivery, submitted a clinical data abstract to the 2024 Society of Interventional Radiology (SIR) Annual Scientific Meeting, which took place on March 23-28 in Salt Lake City, Utah. The abstract highlighted the Company’s lead product candidate, RevoGem, and its proprietary Trans-Arterial Microperfusion (TAMP) platform to treat Locally Advanced Pancreatic Cancer (LAPC), a difficult-to-access solid tumor.
Interventional Radiology Product – Key Segments
By Type:
- Stents
- Catheters
- Inferior Vena Cava (IVC) Filters
- Embolization Devices
- Thrombectomy Systems
- Angioplasty Balloons
- Biopsy Needles
- Hemodynamic Flow Alteration Devices
- Accessories
- Other
By Application:
- Cardiology
- Oncology
- Gastroenterology
- Neurology
- Orthopedics
- Urology and Nephrology
- Others
By End User:
- Hospitals
- Clinics
- Home Care Settings
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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