Angiography Equipment Market Global Market Demand, Opportunities, Key Players and Forecast to 2027
Angiography Equipment Market
The angiography equipment market is growing rapidly attributing to the increasing number of cases of cardiovascular and coronary diseases, which are the result of changing lifestyle. Over the last three decades, equipment used in angiography procedures have evolved significantly demonstrating remarkable advances. Such betterments are predominantly driving the growth of the market. Also, there has been a remarkable growth in the awareness about coronary diseases and cardiovascular-related surgeries, which is escalating the market on the global platform.
According to Market Research Future (MRFR), the global angiography equipment market is expected to garner notable accruals by 2023. In its recently published research report, MRFR also asserts that the market would register over 5% CAGR throughout the assessment period. Technological advancements in interventional radiology is a key driving force behind the growth of the market.
Additional factors acting as significant growth propellers to the market include the rising prevalence of cardiovascular diseases, increasing numbers of angiography procedures, and benefits of the technique in early diagnosis & treatments. Also, the growing demand for interventional angiography systems in minimally invasive surgeries and rising healthcare expenditures are defining the growing landscape of the market.
On the other hand, limitations in reimbursement for angiographic surgeries and risk of radiation exposure are major growth restraining factors of the market. Nevertheless, factors, such as the improving economic conditions that are increasingly expanding the access to the quality healthcare would support the growth of the angiography equipment market over the assessment period, increasing per-capita healthcare expenses.
Major Key Players:
Players leading the global angiography equipment market include Koninklijke Philips N.V. (Netherlands), GE Healthcare (US), Siemens Healthineers (Germany), Boston Scientific Corporation (US), Canon Corporation (Japan), Cordis, a Cardinal Health Company, (US), Medtronic (Ireland), Shimadzu Corporation (Japan), Angiodynamics (US), Abbott Laboratories (US), B. Braun Melsungen (Germany), and Terumo (Japan), among others.
Segment Analysis
The report is segmented into seven key market dynamics to widen the scope of understanding,
By Product: Angiography Catheters, Angiography Systems, Angiography Contrast Media, Angiography Balloons, Vascular Closure Devices (VCDs), Angiography Guidewires, and Angiography Accessories, fluorescein angiography machine.
By Technology: CT angiography, X-ray angiography, MR angiography, and other angiography technologies.
By Procedure:Endovascular Angiography, Coronary Angiography, Neuro-Angiography, Onco-Angiography, and other Angiography Procedures.
By Indication: Valvular Heart Disease, Coronary Artery Disease, Congenital Heart Disease, Congestive Heart Failure, and other indications.
By Application: Diagnostics and Therapeutics.
By End-user: Hospitals & Clinics, Diagnostic & Imaging Centers, and Research Institutes.
By Regions: Europe, North America, Asia Pacific, and the Rest-of-the-World.
Regional Analysis
Europe is considered as the leading region in the global angiography equipment market. Factors, such as the high per capita healthcare expenditures and the growing population act as major tailwinds to the regional market growth. Moreover, a well-developed infrastructure, increasing prevalence of cardiovascular disorders, spreading awareness of CABG procedures, and technological advancements are expected to spur the market growth in the region.
Additionally, increasing numbers of angiography procedures and growing preference of minimally invasive devices contribute to the growth of the regional market. Furthermore, the resurging economy is playing a vital role in increasing the value of the regional market, increasing access to quality care. Also, the availability of specialty care services in hospitals & tertiary care centers, increasing demand for the treatment options of cardiovascular diseases, and rising prevalence of cardiovascular diseases escalate the market growth in the region.
Moreover, factors positively impacting the growth of the regional market include the growing emphasis on coronary artery bypass procedures and increasing geriatric population with chronic diseases such as diabetes & obesity which increase the risk for heart disease and cardiovascular diseases.
North America accounts for the second-largest market for angiography equipment, globally. The region witnesses an increasing number of coronary artery bypass procedures. In addition, the increasing expenditure on healthcare and the well-developed healthcare sector are positively impacting the growth of the market. Besides, the presence of state-of-the-art-infrastructure that allows the development of technologies and early adoption of advanced technologies contribute to the growth of the market in this region.
Moreover, high per capita healthcare spending and the growing prevalence of coronary diseases in the region are expected to spur the market growth in the region. Markets in the US and Canada led by the rising number of bypass surgeries lead the regional market. Furthermore, the rapid uptake of advanced technologies and devices in the surgical process is also an essential growth driver of the market.
The Asia Pacific angiography equipment market is emerging as a promising market globally. The region is heading with the rising cases of patients suffering from cardiovascular disease and coronary diseases. Factors, such as the huge growth in the healthcare sector in highly populated countries like India, Japan, and China, can drive regional market growth.
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