The conspicuous growth of the global healthcare industry's demand for accurate diagnosis and procedural equipment has positively influenced the consumption of angiography devices.
The global Angiography Devices Market size is estimated to reach US$ 12,116.7 million by 2022, with growth driven by growing application opportunities and technological advancements. Overall Angiography Device sales are expected to grow at a CAGR of 6.2% between 2022 and 2032, reaching approximately US$ 22,112 million by 2032.
Angiography is a medical imaging tool that visualises blood vessels to detect restricted, obstructed, or enlarged arteries or veins in the body. This treatment may necessitate local or general anaesthetic, as well as the utilisation of imaging technologies such as magnetic resonance imaging, computed tomography, X-ray, and others. The improved image quality of angiography over older procedures is increasing the use of Angiography Devices, particularly for heart-related disorders.
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MRI and CT Angiography Devices are expected to dominate the market because to their effectiveness, few side effects, and short duration of outcomes. The commercialization of sophisticated imaging technology, combined with greater patient affordability, is broadening the reach of hybrid Angiography Devices in developed countries. In contrast, the market in emerging countries is rather saturated, and demand for Angiography Devices may drop. However, the replacement of outdated devices is expected to drive market development.
Angiography Devices Market: Overview
Modern technologies, such as MRI and CT, dominated the angiography equipment market due to their better efficiency over traditional methods. The recently announced Real-time 3D echocardiography by Siemens Healthcare is a significant improvement in the Angiography Devices business, which is utilised to diagnose various heart and coronary diseases. Coronary and pulmonary angiography are the most common procedures due to their high prevalence. Hospitals and surgical facilities are the most likely end-users, followed by diagnostic centres. This is due to the high cost of Angiography Devices, which are too expensive for medium-sized diagnostic clinics. Coronary Artery Disease (CAD) is the most common disease indication due to its prevalence and the lack of an alternative diagnostic tool.
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Angiography Devices Market: Drivers and Restraints
Increasing CVD rates, an ageing population, an unhealthy lifestyle, and an increasing demand for sophisticated diagnostic procedures are moving the global Angiography Devices market ahead. Furthermore, rising awareness of cardiovascular disease detection and treatment, as well as favourable government laws for commercialising Angiography Devices, are moving the Angiography Devices market ahead. High-priced Angiography Devices, a lack of reimbursement, and unaffordability in emerging economies are all obstacles to market growth. Firms in this area, however, are aggressively focused on the marketing of low-cost solutions in order to acquire the largest market share in emerging economies.
Angiography Devices Market: Key Players
Leading players operating in Angiography Devices includes Abbott Vascular (Abbott Laboratories), Toshiba Medical Systems Corporation, Royal Philips Electronics, GE Healthcare, Medtronic, Inc., Cordis Corporation, Shimadzu Corporation, and Siemens Healthcare. Companies operating in this market are seeking for novel product to gain core competencies in the market. These companies are also conducting collaborative studies with the clinical research institutes to sustain their market position.
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The Asia Pacific area is expected to rise significantly due to an increase in the number of CVD cases, as well as increased investment in the region's healthcare system, which will result in the availability of necessary medical facilities. According to FMI, the Asia Pacific Angiography Devices market would grow at a CAGR of 6%.
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Angiography Devices Market: Segmentation
The global Angiography Devices market is segmented based on, device, product type, application, procedures, end use and indication.
Based on devices, the global Angiography Devices market is segmented into the following:
Angiography Devices Market by Device:
Angiography Devices Market by Procedure:
Angiography Devices Market by End User:
Angiography Devices Market by Indication:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Jun 26, 2023
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