In 2022, the global angiography devices market is expected to be worth $12,116.7 million. The expanding scope of application and technological innovation are expected to be the primary growth drivers in the market. Overall angiography device sales are expected to grow at a 6.2% CAGR between 2022 and 2032, totalling around US$ 22,112 million by the end of 2032.
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Angiography is an imaging procedure which provides visualization of blood vessel to detect narrow, blocked, enlarged arteries or veins in the body. Local or general anesthesia has been given to the patient during angiography procedure. This procedure uses various imaging technologies such as, Magnetic Resonance Imaging, Computed Tomography, X-ray and others. The superior quality of angiography imaging over conventional techniques is increasing the adoption of angiography devices especially for heart related disorders.
The MRI and CT angiography devices would be the most prominent products in this market owing to its efficacy, minimal side effects and short duration in terms of outcome. Commercialization of high end imaging technologies and increasing affordability of patients has increases the scope of hybrid angiography devices, in developed region. The demand for angiography devices in developing region would get reduced owing to its relatively saturated market situation. This market would be further driven by replacement of old devices.
Angiography Devices Market: Overview
By device, the angiography device market was dominated by more advanced technologies such as MRI and CT, owing to their high efficiency over conventional technologies. Recently launched, Real-time 3D echocardiography by Siemens Healthcare is one of the key development in angiography devices market, which is used to diagnose various heart and coronary conditions. By procedure, coronary angiography and pulmonary angiography are the dominating procedure, owing to its high prevalence. By end-users, hospitals and surgical centers hold promising share, followed by diagnostic centers. This is due to premium pricing of angiography devices, which is unaffordable for the medium scale diagnostic centers. By disease indication, Coronary Artery Disease (CAD) is the leading segment due to its high incidence and absence of alternative diagnostic technique.
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Angiography Devices Market: Drivers and Restraints
Increasing CVD incidences, growing number of geriatric population, dysfunctional lifestyle, growing demand for sophistication diagnostic procedures are driving the growth of angiography devices market, globally. Also, the rising awareness for cardiovascular disease diagnosis and treatment, favorable government regulation to commercialize angiography devices are the additional factors fueling the growth of angiography devices market. However, the high cost angiography devices, lack of reimbursement, and unaffordability across emerging economies are some of the factors impeding the market growth. However, the companies operating in this market are actively focusing on the commercialization of low cost system to grab the highest market share in emerging economies.
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:
- Magnetic Resonance Angiography (MRA) Devices
- Computed Tomography Angiography (CTA) Devices
- Conventional Angiography Devices
- Digital Subtraction Angiography (DSA) Devices
- Catheter Angiography Devices
- Coronary Angiography Devices
- Other Angiography Devices
Angiography Devices Market by Procedure:
- Coronary Angiography
- Pulmonary Angiography
- Cerebral Angiography
- Extremity Angiography
- Renal Angiography
Angiography Devices Market by End User:
- Angiography Devices for Hospitals and Surgical Centres
- Angiography Devices for Diagnostics Centres
- Angiography Devices for Academic and Research Institutes
Angiography Devices Market by Indication:
- Angiography Devices for Coronary Artery Disease (CAD)
- Angiography Devices for Congenital Heart Disease
- Angiography Devices for Congestive Heart Failure
- Angiography Devices for Kidney Disorders
- Angiography Devices for Other Indications
Angiography Devices Market: Region-wise Outlook
North America was the lading region for angiography devices in terms of revenue in 2015, followed by Europe. Increasing incidence of coronary disorder owing to dysfunction lifestyle is the prime factor driving the growth of angiography device market in these region. However, the similar kind of trend is now shifting towards emerging economies which is expected to create notable growth opportunity for the angiography device during the forecast period.
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Angiography Devices Market: Key Players
Leading players operating in angiography devices includes, Shimadzu Corporation, Royal Philips Electronics, Siemens Healthcare, GE Healthcare, Toshiba Medical System Corporation, Shimadzu Corporation, St. Jude Medical, Inc., Toshiba Medical Systems Corporation, Cordis Corporation, Medtronic, Inc., and Abbott Vascular (Abbott Laboratories). 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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