Angiography Equipment Market Players, Synopsis, Future Scope, Analysis and Forecast to 2032
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.
The Angiography Equipment Market is projected to reach USD 13.41 Billion by 2032 at 5.20% CAGR during
the forecast period 2023-2032. 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.
The cardiologist
used the angiographic machine to visualize the patient's
coronary arteries during the diagnostic procedure.
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 Players 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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