Interventional Radiology Market - By Product Type: Catheters, Guidewires, Embolization Devices, Angioplasty Balloons & Stents, Needle Biopsy Systems, IR Imaging Systems (CT, MRI, Fluoroscopy); By Procedure Type: Oncology (e.g., TACE, RF ablation), Vascular (angioplasty, thrombectomy), Renal & Urological (nephrostomy, embolization), Hepatobiliary (drainage, stenting); By End User: Hospitals, Ambulatory Surgical Centers (ASCs), Office-Based Labs (OBLs), Diagnostic Imaging Centers; By Region: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
1 | Market Overview
The global interventional radiology (IR) market is expanding rapidly, driven by the increasing demand for image-guided, minimally invasive procedures that shorten recovery time, reduce hospital stays, and lower surgical risks. Interventional radiology is being utilized more frequently in oncology, cardiology, urology, neurology, and peripheral vascular procedures. Innovations in catheter technology, real-time 3D imaging, and robotic-assisted navigation have transformed interventional radiology from a supportive specialty into a primary treatment modality.
2 | Market Size and Forecast
|
Year |
Market Value (USD Billion) |
Notes |
|
2019 |
14.6 |
Historical benchmark |
|
2024 |
21.4 |
Five-year CAGR 7.9% |
|
2031 |
36.7 |
Seven-year CAGR 8.1% |
By 2031, the market is expected to reach USD 36.7 billion, driven by technological integration, wider procedural acceptance, and global health system adoption.
3 | Key Market Drivers
4 | Market Challenges
5 | Competitive Landscape
The IR market is dominated by major medtech players that offer a full suite of vascular access, embolization, biopsy, drainage, and ablation systems.
Market Share Estimates (2024):
|
Company |
Estimated Market Share |
Key Strengths |
|
Medtronic |
22% |
Embolization, drainage, and access solutions |
|
Boston Scientific |
19% |
Oncology ablation, vascular access, and stents |
|
Cook Medical |
16% |
Biopsy, GI, and urology-focused IR products |
|
Siemens Healthineers |
14% |
IR imaging platforms and integrated suites |
|
Others (Philips, Terumo, Merit Medical, startups) |
29% |
Robotics, specialty access, and image guidance |
6 | Market Segmentation
By Product Type:
By Procedure Type:
By End User:
By Region:
7 | Strategic Outlook
Future growth hinges on expanding IR infrastructure in low- and middle-income regions, advancing robotic IR navigation, and enhancing cross-specialty collaboration. Training programs, AI-driven imaging support, and mobile cath lab units will define the next wave of accessibility and precision.
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