In 2022, the global Angiography Devices market size is projected to reach US$ 12,116.7 million, with anticipated growth driven by expanding application opportunities and technological advancements. Between 2022 and 2032, the overall sales of Angiography Devices are expected to grow at a Compound Annual Growth Rate (CAGR) of 6.2%, reaching approximately US$ 22,112 million by 2032.
Angiography is a medical imaging technique that enables the visualization of blood vessels to identify narrow, blocked, or enlarged arteries or veins in the body. This procedure involves using various imaging technologies, such as magnetic resonance imaging, computed tomography, X-ray, and others, and may require local or general anesthesia. The superior quality of angiography imaging compared to conventional methods is driving the adoption of Angiography Devices, particularly for heart-related disorders.
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MRI and CT Angiography Devices are expected to dominate the market due to their effectiveness, minimal side effects, and short duration of outcomes. The commercialization of advanced imaging technologies, combined with increased affordability for patients, is expanding the scope of hybrid Angiography Devices in developed countries. In contrast, the market in developing regions is relatively saturated, and demand for Angiography Devices may decrease. However, the replacement of older devices is expected to provide further market growth.
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, an ageing population, a dysfunctional lifestyle, and a growing demand for sophisticated diagnostic procedures are driving the global growth of the Angiography Devices market. Additionally, rising awareness for cardiovascular disease diagnosis and treatment, as well as favourable government regulation to commercialise Angiography Devices, are driving the growth of the Angiography Devices market. High-cost Angiography Devices, a lack of reimbursement, and unaffordability in emerging economies are some of the factors impeding market growth. However, companies in this market are actively focusing on the commercialization of low-cost systems in order to capture 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:
- 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
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