Angiography Equipment Market Statistics, Global Market Size, Share, Revenue, Competitive Analysis With Regional Forecast To 2023
Research Reports
Dec 29, 2020
Angiography Equipment Market Insight
Global angiography equipment market is growing steadily, mainly due to the rising prevalence of cardiovascular diseases. Besides, factors such as the demand for minimally invasive diagnostic procedures, advances in interventional radiology, and the development of OCT-angiography, MRI-angiography, and digital flat panel devices drive the growth of the market hugely.
Moreover, the increasing cases of angiography procedures, growing geriatric population, and benefits of angiography techniques in early diagnosis & treatment escalate the market growth to furthered height. According to Market Research Future (MRFR), the global angiography equipment market is estimated to grow at approximately 5.2 % CAGR during the review period (2018-2023).
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Additional factors such as the growing demand for interventional angiography systems in minimally invasive surgeries, rising healthcare expenditure, and technological advancements are substantiating the growth of the market. Rising awareness and compulsory screening laws are acting as key driving forces for the growing demand for angiography equipment for diagnostics.
On the other hand, limitations in reimbursement for angiographic surgeries and the risk of radiation exposure are the major factors inhibiting the growth of the market. Nevertheless, new product development led by the advancements in technologies would support the market growth throughout the anticipated period, gaining faster market entry and market share.
Angiography Equipment Market – Segments
The Angiography Equipment Market analysis has been segmented into seven main dynamics to widen the scope of understanding,
By Product : Angiography Equipment Solutions, Angiography Systems, Angiography Catheters, Angiography Contrast Media, Vascular Closure Devices (VCDs), Angiography Balloons, Angiography Guidewires, Angiography Accessories, and others.
By Technology : X-Ray Angiography, Image Intensifiers, Flat-panel Detectors, CT Angiography, MR Angiography, and others.
By Procedure : Coronary Angiography, Endovascular Angiography, Neuroangiography, Onco-angiography, and other Angiography Procedures.
By Indication : Coronary Artery Disease, Valvular Heart Disease, Congenital Heart Disease, Congestive Heart Failure, and other Indications.
By Application : Diagnostics and Therapeutics.
By End-User : Hospitals & Clinics, Diagnostic & Imaging Centers, Research Institutes, and others.
By Regions : Americas, Europe, Asia-Pacific, Middle East & Africa, and Rest-of-the-World.
Angiography Equipment Market – Regional Analysis
Europe dominates the global angiography equipment market. The largest market share attributes to the presence of well-developed infrastructure, major market players, and flourishing medical equipment market. Besides, factors such as the growing prevalence of cardiovascular disorders and technological advances drive the regional market growth excellently.
Additionally, the increasing numbers of angiography procedures and increasing preference for minimally invasive diagnostic & treatment procedures contribute to the increase of the regional market size. The European angiography equipment market is estimated to create a substantial revenue pocket over the assessment period.
North America stands second in the global angiography equipment market. Factors such as the increasing prevalence of cardiac diseases and the growing geriatric population foster the growth of the regional market. Furthermore, factors such as the high healthcare expenditures and the well-developed healthcare sector in the region propel the growth of the market.
Besides, trends such as development and early adoption of advanced technologies, stringent screening regulations, and the high reimbursement are the prime growth drivers of the market. The North American angiography equipment market is projected to grow at a noteworthy CAGR during the assessment period.
The Asia Pacific angiography equipment market is expected to demonstrate rapid growth over the predicted period. The market is predominantly driven by the huge geriatric population and increasing numbers of cardiovascular disease patients. Furthermore, rising investments by private & public sectors to deliver improved healthcare services foster regional market growth.
China, Japan, and India would remain at the forefront in the regional market owing to their large size and growing economic clout. The APAC angiography equipment market is forecasted to witness substantial developments over the next four years.
Angiography Equipment Market – Competitive Landscape
Highly competitive, the angiography equipment market appears well-established with the presence of several notable players. Considering the potential of the market to gain traction, witnessing growing adoption, functionality, and technological convergences, manufacturers, are collaborating with large hospitals and third-party payers so as to achieve a large market share. They also employ a variety of distributions channels to increase the exposure of their products to end-users. Rebates have been applied by pharmaceutical companies to entice insurance companies and other end-users to purchase their products.
Angiography Equipment Market Major Players:
Players leading the global angiography equipment market include Cordis (a Cardinal Health Company, U.S.), Koninklijke Philips N.V. (Netherlands), Canon Corporation (Japan), Boston Scientific Corporation (U.S.), Siemens Healthineers (Germany), Terumo (Japan), GE Healthcare (U.S.), B. Braun Melsungen (Germany), Shimadzu Corporation (Japan), Angiodynamics (U.S.), Medtronic (Ireland), and Abbott Laboratories (U.S.), among others.
Angiography Equipment Industry/ Innovation/ Related News:
March 10, 2020 —- Kinepict Health Ltd. (Hungary), an angiography system developer, announced receiving FDA approval [510(k) clearance] for its proprietary digital variance and imaging software with angiography (DVA) – Kinepict Medical Imaging Tool (KMIT). Kinepict’s DVA technology is designed to use advanced statistical methods for imaging blood vessels by identifying contrast-induced changes in an X-ray angiography imaging series.
Kinepict’s technology is clinically proven to improve image quality for both positive & negative contrast media. The FDA clearance would further ease the launch of the technology in the U.S., as the company is planning to partner with the imaging industry players and other health organizations in the angiography field.
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