The global interventional radiology products market is expected to reach $23.9 billion by 2024, according to a Globe Newswire report. Future Market Insights is the source for the report that also states that by 2034, the market is projected to reach $48.8 billion, rising at a 7.4% CAGR. A dynamic industry that has seen substantial growth in recent years, interventional radiology (IR) is one of the most rapidly evolving fields. The advancements in technology and the development of innovative techniques have significantly influenced the future.
The report also states that innovations in technology are expected to shape the future of IR. A number of emerging technologies are poised to significantly impact the field of technology, including augmented reality, robotics, virtual reality and artificial intelligence (AI). Interventional radiologists can benefit from these technologies through enhanced procedural accuracy, improved patient outcomes and expanded scope of practice.
Innovations in IR will improve efficiency and effectiveness in the future as new procedures and techniques are developed. Several techniques may improve patient outcomes, including endovascular repair, embolotherapy and interventional oncology, according to the report.
“Imaging technologies greatly enhance the guidance of interventional procedures. Imaging technologies will continue to advance in IR, including MRI machines, ultrasound equipment, angiography systems, CT scanners and fluoroscopy equipment. Through these technologies, image quality will continue to improve, procedural planning will be enhanced, and real-time guidance will be enabled during interventions,” the report states.
“Interventional radiology is expanding its scope of practice. Interventional radiologists are researching new applications and therapeutic approaches and improving existing procedures and techniques,” it adds. “A wider range of medical conditions will be addressed by interventional radiologists, and minimally invasive surgery will be offered as an alternative to traditional surgery.”
Global Market Insights (GMI) reports that the “interventional radiology market size was valued at $28.1 billion in 2023 and is expected to exhibit growth at a CAGR of 5% from 2024 to 2032. The rising prevalence of chronic disease worldwide and increasing demand for minimally invasive procedures are significantly driving the market growth.”
Mordor Intelligence reports that “the interventional radiology market size is estimated at $26.96 billion in 2024, and is expected to reach $35.92 billion by 2029, growing at a CAGR of 5.90% during the forecast period (2024-2029).”
Mordor Intelligence’s report explained its prediction.
“The driving factor of the market is the rising trend of minimally invasive procedures, owing to the cost-effective solutions and lesser hospital stays. With the help of minimally invasive techniques, patients are treated quickly and are usually discharged from the hospital on the same day. Most of these processes require imaging technology,” Mordor Intelligence states.
