The global angiography devices market is expected to be US$ 12,116.7 million in 2022. The market’s primary growth drivers are expected to be the expanding scope of application and technological innovation. Between 2022 and 2032, overall angiography device sales are expected to grow at a 6.2% CAGR, totaling around US$ 22,112 million by the end of 2032.
Angiography is a type of imaging procedure that allows for the visualisation of blood vessels in order to detect narrow, blocked, or enlarged arteries or veins in the body. During the angiography procedure, the patient was given local or general anaesthesia. This procedure employs a variety of imaging technologies, including magnetic resonance imaging, computed tomography, X-ray, and others. The superior quality of angiography imaging over conventional techniques is increasing angiography device adoption, particularly for heart-related disorders.
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Because of their efficacy, minimal side effects, and short duration in terms of outcome, MRI and CT angiography devices would be the most prominent products in this market. The commercialization of high-end imaging technologies, as well as the increasing affordability of patients, has expanded the scope of hybrid angiography devices in the developed world. Because the developing world’s market is relatively saturated, demand for angiography devices will fall. This market would be boosted further by the 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, 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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