Interventional Imaging Market is Set to Reach USD 16.93 Billion by 2033- BIS Research

Dec 27, 2023 6:00 PM ET

Interventional imaging is a minimally invasive medical procedure employing imaging techniques to guide the precise placement of catheters, wires, and other instruments within the body for diagnostic and therapeutic purposes. This approach is utilized across a broad spectrum of medical conditions, such as cardiovascular diseases, neurological disorders, gastrointestinal disorders, genitourinary disorders, and cancer treatment.

The versatility of interventional imaging makes it a crucial tool for both diagnosis and treatment across a diverse range of medical conditions. The global interventional imaging market is projected to reach $16.93 billion by 2033 from $8.66 billion in 2022, growing at a CAGR of 6.71% during the forecast period 2023-2033.

Market Analysis: Trends, Data, and Growth Projections

Interventional imaging procedures are typically considered safe and efficient, although there exist potential risks, including bleeding, infection, and allergic reactions. The field of interventional imaging is dynamically evolving with ongoing technological advancements. These procedures present several benefits compared to conventional open surgery approaches, such as reduced pain, shorter durations of hospital stays, and faster recovery times.

BIS Research, a leading market research firm, has released a report titled- Interventional Imaging Market, which discusses the challenges, growth factors, and future opportunities driving the remarkable growth of the interventional imaging market. The detailed study is a compilation of 14 market data tables and 186 figures spread across 256 pages.

Key Players and Market Segments

Some major companies operating in the global interventional imaging market are:

Becton, Dickinson and Company
Canon Inc.
Esaote SpA
FUJIFILM Holdings Corporation
GE HealthCare
Hologic, Inc.
Intuitive Surgical, Inc.
Koninklijke Philips NV
Medtronic plc
Siemens Healthineers AG
Stryker Corporation
Shimadzu Corporation
Terumo Corporation
Trivitron Healthcare

The global interventional imaging market is segmented across various dimensions. In terms of offerings, interventional imaging systems took precedence in FY2022, dominating the market due to their widespread use in diverse applications, with sustained growth anticipated. This is complemented by the essential role of interventional imaging software and the significant market share held by consumables.

Cardiology emerged as the leading application segment in FY2022, driven by the elevated prevalence of cardiac diseases, increased utilization of radiology for cardiac diagnostics, and a growing elderly population.

Hospitals constitute the primary end-user segment, holding the largest market share in FY2022, as interventional imaging procedures are predominantly performed in dedicated catheterization labs within hospital premises.

Geographically, China led the Asia-Pacific market in 2022, with the region projected to witness the highest CAGR during 2023-2033. This growth is attributed to factors such as an aging population, rising healthcare needs, economic development, increased healthcare spending, and advancing technological adoption, underscoring substantial opportunities for market expansion in the Asia-Pacific region.

Market Drivers, Challenges, and Opportunities

Regulatory advancements, ongoing research, and collaboration between industry leaders are contributing factors in the growth of the interventional imaging market. Growing demand for minimally invasive surgical procedures is a major driver, coupled with a focus on technological advancements in both surgical techniques and imaging technologies. The rise in chronic diseases is anticipated to fuel substantial adoption of interventional imaging.

However, challenges exist for the market. Shortages of skilled professionals are expected to impact the market, particularly in the short term, while a restrictive reimbursement landscape poses ongoing challenges, albeit with a diminishing impact over the long term.

Opportunity emerges through the integration of artificial intelligence (AI) in interventional imaging. This development has created significant prospects, with key players actively developing minimally invasive and AI-enabled imaging software. These platforms enhance accuracy in surgical procedures, improve decision-making, and automate workflows, contributing not only to surgical efficiency but also reducing variations that could impact patient health.

Analyst Note

BIS principal analyst suggests: “The global interventional imaging market is witnessing substantial growth, due to the excellent technologies, namely 3Dand 4D imaging utilized in the systems. The interventional imaging market growth is spurred by the rising need for advanced imaging solutions in various fields, including medical research, clinical diagnosis, and. Moreover, the market is embracing novel technologies and tools, driven by the increasing prevalence of diseases. Within this market, a wide array of technologies, equipment, reagents, and software is available to deliver high-quality imaging for a range of medical applications.”

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About BIS Research

BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends, which can disrupt the market dynamics in the near future. We publish over 200 market intelligence studies annually, focusing on several deep technology verticals.

Our strategic market analysis emphasizes market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.

BIS Research offers syndicate and custom studies and expert consultations to firms, providing them with specific and actionable insights on novel technology markets, business models, and competitive landscapes.