The report covers a forecast and an analysis of the angiography equipment market on a global and regional level. The study provides historical data for 2015, 2016, and 2017 along with a forecast from 2018 to 2024 based on revenue (USD Billion). The study includes the drivers and restraints for the angiography equipment market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the angiography equipment market on a global level.
Angiography Equipment Market
Angiography, also known as arteriography, is a medical imaging method applied to examine the organs of the body, with a primary focus on heart chambers, veins, and arteries. In this test, a radio-opaque contrast mediator is injected into the blood vessel. The subsequent images obtained are called angiograms. Angiograms are used to detect blockages in vessels or anywhere in the body. This might include the arteries going to the brain, the arteries feeding the kidneys, the arteries feeding the arms and legs, the arteries feeding the heart muscle, and also all of the vessels going to and from the lungs. Angiography procedure investigates various problems, such as atherosclerosis, pulmonary embolism, peripheral arterial disease, angina, and brain aneurysm. Angiography is a minimally invasive procedure, which is mostly carried out in radiology departments of hospitals.
Major drivers for the global angiography equipment market include growing dominance of cardio diseases. Cardiovascular diseases (CVDs) are the leading cause of death globally. Most people die due to CVDs annually as compared to any other causes. According to the World Health Organization (WHO), 17.9 million people died from CVDs in 2016, i.e., 31% of all global deaths. Additionally, launching programs to create awareness about metabolic and cardiovascular diseases, funding from various organizations and government institutes, rising elderly population, and escalating demand for angiography systems in minimally invasive surgeries are projected to further boost the global angiography equipment market in the upcoming years. However, the high prices of angiography devices and the lack of reimbursement policies might impede the growth of angiography equipment market in the future. The introduction of novel and enhanced products are likely to create new growth avenues for angiography equipment market in the future.
The angiography equipment market is classified based on product, technology, procedure, indication, application, and end-user. By product, the angiography equipment market is segmented into angiography systems, catheters, guide wire, balloons, contrast media, vascular closure devices (VCDs), and angiography accessories. By technology, the market is segmented into X-Ray, CT, MRA, and other angiography technologies. The angiography systems are likely to hold the largest market share in the upcoming years, due to the growing number of patients suffering from cardiac diseases and product innovations. By procedure, the market is segmented into coronary angiography, endovascular angiography, Neuroangiography, Onco-angiography, and other angiography procedures. By indication, the market is segmented into coronary artery disease, valvular heart disease, congenital heart disease, congestive heart failure, and other indications. By application, angiography equipment market is bifurcated into diagnostic and therapeutic. By end-user, the angiography equipment market includes hospitals and clinics, diagnostic and imaging centers, and research institutes. The hospitals and clinics across the globe have contributed significantly toward this market due to the increasing number of patient admission with vascular diseases.
By geography, Europe is projected to lead the global angiography equipment market during the forecast timeframe. Increasing occurrences of cardiovascular diseases and a large number of ongoing research activities, quick and easy product approval processes, a growing number of awareness programs, rising government and public-private investments, and increasing acceptance of angiography devices are the key growth factors of this regional market. In North America, the U.S. and Canada are anticipated to nurture the demand for angiography devices, due to the rising occurrences of cardiac diseases. Asia Pacific angiography equipment market is expected to grow at the highest CAGR during the forecast time period. The key factors driving the growth of the APAC market include a huge number of patients suffering from CVDs, the growing aged population, and a rise in awareness programs and funding activities. Latin America is considered to be an important regional market and estimated to grow at a moderate rate, owing to expanding healthcare infrastructure and rising awareness among the people in this region. The Middle East and Africa region is anticipated to witness a significant growth during the forecast period.
Some key players operating in the global angiography equipment market include GE Healthcare, Koninklijke Philips N.V., Siemens Healthineers, Canon Incorporation, Shimadzu Corporation, Boston Scientific Corporation, Cordis Corporation, Medtronic, Inc., AngioDynamics, Inc., B. Braun Melsungen AG, and Abbott Laboratories, among others.