Global Interventional Radiology Market Expands at 5.7% CAGR, Set to Hit USD 45.9 Billion by 2032

(MENAFN- P&S Intelligence) According to the latest market research study published by P&S Intelligence, the interventional radiology market generated USD 29.8 billion in 2024, and it is set to advance at a CAGR of 5.7% during 2025–2032, reaching USD 45.9 billion by 2032. This strong growth trajectory is fueled by the rising prevalence of chronic diseases, increasing demand for minimally invasive procedures, and ongoing technological breakthroughs in imaging modalities that enhance diagnostic precision and therapeutic outcomes.

Advancements such as AI-powered imaging systems, robotic-assisted interventions, and hybrid operating suites are redefining procedural efficiency and accuracy. These innovations improve patient safety, reduce recovery times, and support wider adoption of minimally invasive approaches. Moreover, the rapidly aging global population, with 1 in 6 people projected to be aged 60 years or older by 2030, continues to increase demand for interventional procedures addressing complex, age-related health conditions.

Healthcare systems worldwide are under pressure to deliver cost-effective solutions while managing the surge in cardiovascular diseases, cancers, and other chronic illnesses. Interventional radiology, by enabling outpatient and less-invasive procedures, plays a crucial role in reducing hospital stays, optimizing resource use, and ensuring broader healthcare accessibility.

Key Insights
• By product type, MRI systems held the largest share in 2024 and will record the highest CAGR, owing to their superior soft tissue contrast, radiation-free imaging, and growing clinical utility in oncology and neurology. Real-time MRI-guided interventions, temperature monitoring for ablations, and MRI-compatible devices are expanding adoption.
• Angioplasty dominated procedure types with a 35% share in 2024, driven by the high burden of cardiovascular diseases worldwide. Continuous refinements in balloon catheters, stent technologies, and imaging guidance maintain angioplasty as the primary interventional modality.
• Embolization will witness the fastest CAGR of 6.1%, fueled by its effectiveness in treating tumors, hemorrhages, and vascular malformations. The use of drug-eluting beads and radioembolization microspheres strengthens its role in interventional oncology and benign condition management.
• Cardiology represented the largest application segment, with 40% share in 2024, supported by the global prevalence of coronary artery and structural heart diseases. Imaging-integrated cardiac interventions enhance clinical outcomes and sustain high procedural volumes.
• Oncology will expand at the fastest pace, as minimally invasive treatments such as tumor ablation, transarterial chemoembolization, and radioembolization gain preference for patients unsuitable for surgery. Integration with immunotherapy and systemic treatments is creating advanced combination therapies.
• Hospitals accounted for the larger end-user share in 2024, attributed to higher patient inflow, availability of expert professionals, and capacity to invest in advanced interventional radiology systems. Research and awareness initiatives further strengthen their position.
• Ambulatory surgical centers (ASCs) will grow at a higher CAGR, supported by the shift toward outpatient care, favorable reimbursement policies, and specialized interventional radiology ASCs offering streamlined workflows.
• North America contributed around 40% of the global market in 2024, led by the U.S. with its advanced hospital infrastructure, robust research ecosystem, and high chronic disease burden. The region remains at the forefront of adopting AI-integrated imaging systems, robotics, and hybrid suites.
• Asia-Pacific will exhibit the fastest growth through 2032, driven by rising healthcare investments, medical tourism, and growing geriatric populations. China leads the region with healthcare reforms and infrastructure expansion, while India shows remarkable growth potential from private sector investments and patient awareness.
• Europe shows steady expansion, supported by strong insurance coverage, advanced medical expertise, and high chronic disease prevalence. Germany remains the largest market, while the U.K. is witnessing the fastest growth rate in the region.
• Latin America and the Middle East & Africa offer emerging opportunities, with Brazil and the U.A.E. leading their respective regions. Healthcare modernization, rising awareness of minimally invasive procedures, and expanding diagnostic capacities support growth.
• The market is semi-consolidated, with key players such as Siemens Healthineers, GE Healthcare, Philips, and Canon Medical dominating due to their global reach and advanced portfolios. Regional and mid-sized players contribute actively with niche and cost-effective solutions, enhancing competitive intensity.
• Recent developments highlight the sector’s innovation push:
o In June 2025, Philips and Methodist Hospitals announced new interventional suites integrating image-guided therapy solutions.
o In March 2025, Gleneagles Hospital Bengaluru launched its Advanced Interventional Radiology Cath Lab, reinforcing the role of minimally invasive therapies.
o In June 2024, GE HealthCare and MediView XR introduced the world’s first augmented reality interventional suite, combining holographic visualization with live imaging.

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