Global Angiography Equipment is Anticipated to Witness High Growth Owing to Increasing Interventional Radiology Procedur

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The global angiography equipment market is primarily driven by the increasing burden of cardiovascular diseases and growing number of older adults worldwide.

The global angiography equipment market is primarily driven by the increasing burden of cardiovascular diseases and growing number of older adults worldwide. Angiography equipment are medical imaging devices used to visualize the inside, or lumen, of blood vessels and organs. It helps physicians detect narrowed or blocked blood vessels caused by plaque buildup, blood clots or other problems. The procedure generates pictures of the blood vessels allowing the doctor to examine any abnormalities or diagnose problems.

The Global Angiography Equipment Market is estimated to be valued at US$ 12.17 BN in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in The Global Angiography Equipment Market are B. Braun Melsungen AG, Koninklijke Philips N.V., GE Healthcare, Cardinal Health, Siemens Healthcare Gmbh, Shimadzu Corporation, Medtronic plc, Boston Scientific Corporation, ANGIODYNAMICS, Abbot, Microport Scientific Corporation, Terumo Corporation, CURATIA MEDICAL INC., Cook Medical, Merit Medical Systems, Inc. and Applied Medical Resources Corp. The players are focused on new product launches, expansions and mergers & acquisitions to garner greater market share.

Major opportunities in the market include increasing healthcare spending worldwide, technological advancements in angiography equipment and growing number of outpatient angiography procedures. Also, emerging economies offer lucrative growth opportunities with rising cases of cardiac diseases.

Globally, the market is anticipated to experience high growth owing to increasing focus on expansion in developing economies of Asia Pacific and Latin America. Key players are focused on establishing manufacturing facilities and strengthening distribution networks in these regions.

Market Drivers
- Increasing prevalence of cardiovascular diseases globally
- Rising aging population and associated high risk of cardiovascular complications
- Growing number of angiography procedures performed worldwide

Market Restraints
- High costs associated with angiography equipment and procedures
- Stringent regulatory framework and lengthy approval process for new products
- Dearth of skilled radiologists in developing and underdeveloped economies

Segment Analysis
The global angiography equipment market can be segmented by type, technology, application, and end user. Based on type, the market is bifurcated into angiosuite and biplane angiosystems. The angiosuite segment dominated the market in 2023 as an angiosuite provides a dedicated imaging system with advanced imaging tools and requires less frequent calibration.

Based on technology, the market is categorized into X-ray angiography, CT angiography, MR angiography, and others. The X-ray angiography segment accounted for the largest share in 2023 due to its wide acceptance and usage in diagnosis and treatment of various cardiovascular and neurological disorders. It provides real-time visualization of blood vessels during procedures.

By application, the market is divided into diagnostic and therapeutic. The diagnostic application held a larger market share in 2023 since angiography procedures play a crucial role in the diagnosis of various cardiovascular diseases and disorders. It provides detailed information about the functioning and blockages in blood vessels.

On the basis of end user, the market is segmented into hospitals and clinics, diagnostic centers, and research institutions. Hospitals and clinics dominate the segment as they perform a large volume of angiography procedures. Additionally, availability of advanced equipment and presence of skilled professionals in hospitals boost the segment growth.

Global Analysis
Regionally, North America held the largest share of the global angiography equipment market in 2023. Rising prevalence of lifestyle diseases, growing geriatric population, and favorable reimbursement policies in the US and Canada are some factors driving the North America market. Europe remained the second largest regional market due to increasing research funding and government support for improved cardiovascular healthcare in the region.

However, the market in Asia Pacific is estimated to progress at the fastest CAGR from 2024 to 2031. This is attributed to growing medical tourism, improving healthcare infrastructure, and rising healthcare expenditure in India and China. Additionally, increasing awareness about cardiovascular disorders and their treatment/diagnostic options are expected to propel the APAC market during the forecast period.

 

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