Angiography Equipment Market: Current Analysis and Forecast (2021-2027)

Global Angiography Equipment Market was valued approximately US$ 11.6 billion in 2020 and is anticipated to exceed US$ 18.0 billion by 2027, displaying an elevated CAGR of more than 6% over the forecast period (2021-2027). Angiography is a procedure used for the imaging of blood vessels of heart, head, kidneys, or lungs. The procedure is performed by inserting contrast medium into arteries to examine blood vessels. Angiography is performed with the use of an x-ray with catheters, magnetic resonance imaging, and computed tomography.
This market growth is ascribed to the growing incidence of diseases such as cancer and CVDs, surging product approvals for advanced angiography techniques in the market, the large number of ongoing research activities, growing government and public-private investments, increasing number of awareness programs, and rising adoption of angiography devices due to many angiography procedures performed across the globe. Cardiovascular diseases (CVDs) are the leading cause of heart attacks, strokes, and other circulatory diseases. According to the World Health Organization (WHO), 17.9 million people died from CVDs in 2015, i.e., 31% of all global deaths and this number is expected to grow by 23.6 million by 2030. Hence, increasing demand of angiographic devices is boosting the growth of the market.
High adoption of optical coherence tomography angiography devices for lessening radiation doses is a key trend that is being witnessed in the angiography equipment market. Apart from this, technological advancements are providing wide opportunities for the key industry players operating in the angiography equipment domain.
Demand of accurate diagnosis, advancement of technologies around the global in healthcare along with preference towards magnetic resonance imaging over conventional methods are the important factors contributing to the growth. Rising prevalence of CVDs is the key growth-driving factors for the market. According to the WHO, factors including tobacco and alcohol consumption, unhealthy diet, obesity, and physical inactivity increase the risk of CVD. The incidence of obesity in adults rose from 34.9% to 37.7% in 2014 and 16.9% to 17.2% in children. Per person, approximately USD 10,348 was spent on healthcare in the country.
GE Healthcare, Siemens, Philips, Terumo Corporation, Abbott Laboratories, Boston Scientific Inc., Medtronic Plc, Canon Medical Systems, B. Braun, Cordis are some of the prominent players operating in the global Angiography Equipment market. Several M&A’s along with partnerships have been undertaken by these players to develop new and advanced products.
Insights Presented in the Report
“Amongst product, angiography systems segment holds the major share”
Based on product, the global angiography equipment market is segmented into Angiography Equipment Solutions, Angiography Systems, Angiography Catheters, Angiography Contrast Media, Vascular Closure Devices (VCDs), Angiography Balloons, Angiography Guidewires, Angiography Accessories. Out of which, angiography systems is dominating the market on account of innovative progressions in angiography gadgets, expanding number of patients with cardiovascular illnesses and increasing number of angiography surgeries around the globe.
“Amongst technology, the X-ray angiography segment holds the major share”
By technology, the global angiography equipment market is segmented into X-Ray Angiography, CT Angiography, MR Angiography and Others. In 2020, X-ray angiography technology segment held the largest market share in terms of revenue. This is due to increasing number of interventional and diagnostic X-ray procedures which is why it is the most adopted technology in the market.
“Amongst procedure, coronary angiography segment holds the major share”
In terms of procedure, the market is categorized into Coronary Angiography, Endovascular Angiography, Neuroangiography and Others. Coronary angiography segment is leading the market because of an increase in the prevalence of coronary heart diseases due to the aging population.
“Amongst application, the diagnostics segment holds the major share”
In terms of application, the angiography equipment market is segmented into Diagnostics and Therapeutics. The diagnostic segment held the largest market share in 2020 and is further projected to maintain its leading position during the forecast period as well. The large share of this segment is primarily attributed to the increasing number of aging population and cardiovascular diseases.
“Amongst end-user, the hospital and clinics segment hold the major share”
Based on end-user the market is categorized into Hospitals and Clinics, Diagnostic and Imaging Centers and Research Institutes. Currently, hospitals and clinics accounted for the major market share in 2020. This is due to a large population of patient diagnosed and treated at hospitals.
“North America signifies one of the largest markets of Angiography Equipment market”
For a better understanding of the market dynamics of the Angiography Equipment market, a detailed analysis was conducted for different regions across the globe including North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of APAC), Rest of World has been conducted. North America has dominated the angiography equipment market which is attributable to increasing geriatric population and prevalence of CVDs. Presence of major companies in the U.S. further contributes to the major share of the market. GE Healthcare, Philips Healthcare, Boston Scientific Corporation, Abbott Laboratories, AngioDynamics, Inc., Cordis Corp., Carestream Health and Hologic, Inc. are some of the angiography equipment manufacturing companies based in the U.S.
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• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
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• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry
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