The global angiography devices market is expected to reach a valuation of USD 12,717.9 million in 2023. The expanding application and technology innovation scope is projected to be the market's primary growth drivers. The overall sales of angiography devices are projected to record a robust CAGR of 6.2% between 2023 and 2033, totaling around USD 23,309.3 million by the end of 2033.
The conspicuous growth of the global healthcare industry's demand for accurate diagnosis and procedural equipment has positively influenced the consumption of angiography devices. Given the massive prevalence of cardiovascular diseases, the clamor for angiography devices is projected to rise further.
Medical and surgical technology advancements are assumed to contribute to the higher production of angiography devices. The precision of angiography devices may continue to influence their deployment by the world's leading medical organizations.
Angiography devices, used to detect heart failures, may remain a significant trend in the global medical industry. As a result of this trend, the usage of angiography devices may grow exponentially, benefiting end-user well-being as well.
The high incidence of diseases such as cancer and CVDs, enhancing product approvals for sophisticated angiography techniques in the market, a substantial percentage of active research activities, burgeoning government and public-private investments, a growing amount of programs and initiatives, and high adoption of angiography devices due to the large angiography procedures performed globally all contribute to the market's development.
| Report Attributes or Data Points | Details |
|---|---|
| Global Angiography Devices Market Valuation in 2022 | USD 12,116.7 million |
| Estimated Global Market Share in 2023 | USD 12,717.9 million |
| Forecasted Global Market Size by 2033 | USD 23,309.3 million |
| Projected Global Market Growth Rate from 2023 to 2033 | 6.2% CAGR |
| Historical Market Growth Rate from 2018 to 2022 | 4.1% CAGR |
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According to Future Market Insights, global demand for angiography devices is assumed to rise at a CAGR of 6.2% between 2023 and 2033, which compares favorably to a 4.1% CAGR from 2018 to 2022. The extensive use of angiography devices in cardiometabolic therapeutic interventions may be a key factor driving the growth of the global angiography devices market.
Furthermore, the emergence of new and upgraded products is expected to supplement the market for angiography devices. The devices, anticipated to be available in the vast bulk of hospitals, are also used to mitigate the incidence rate of cardiac diseases. As a result, demand for angiography devices is expected to continue for decades, boosting the market growth during the forecast period.
Investments in the healthcare sector are escalating. The angiography devices market is also witnessing a surge in investment from government and non-government organizations. The increment of healthcare infrastructure in several countries may provide lucrative business potential growth.
Furthermore, beneficial federal regulations for certification in various developed regions are expected to fuel global market expansion. A reversal in preference toward minimally invasive procedures is also a racing requirement for angiography systems. Furthermore, rapid advancements in angiography equipment are improving diagnostic methods and are estimated to generate market growth.
If the device is damaged due to unforeseeable factors, the manufacturers do not reimburse or exchange the costs. Local medical facilities restrict the use of fragile angiography devices, lowering the diagnosis of cardiovascular diseases. The changing medical regulations necessitate the regular modernization of angiography devices, which confines the demand for existing or primitive devices and equipment.
The high cost of angiography devices has resulted in the emergence of relatively cheap, inaccurate, and mendacious angiography equipment, which diversifies demand in the global angiography devices market.
Principal Consultant
North America remained dominant in the global market in terms of revenue, accumulating a 37.2% share in 2022. Because of the higher prevalence of cardiac diseases, the United States and Canada are projected to augment angiography devices.
According to the American Heart Association (AHA), 45 percent of the United States population may experience at least one heart-related problem. It also predicts that the costs of cardiovascular diseases may soar by 100% between 2016 and 2035. Furthermore, a sophisticated healthcare system allows for the wider utilization of new and advanced angiography devices.
The FDA approved it in March 2020, permitting it to be launched in the United States market. Furthermore, at the Radiological Society of North America (RSNA) 2020 virtual meeting, GE Healthcare debuted the Allia IGS 7 angiography system. The system employs artificial intelligence to strengthen the use of rotational angiography. North America is expected to hold a global market share of 33% in 2022.
Besides that, according to a research paper titled 'Cardiac Catheterization Risks and Complications,' in 2021, cardiac catheterization surgical operations on an annual basis in the United States were 1,000,000. Thus, there is a greater necessity for coronary angiography devices in the United States, further expanding the overall market in North America.
| Regional Market Comparison | Global Market Share in Percentage |
|---|---|
| North America | 37.2% |
| Europe | 28.1% |
Asia Pacific is anticipated to grow substantially due to a spike in the volume of CVD cases, as well as greater investment in the region's healthcare system, which may result in the accessibility of necessary medical facilities. As per FMI, an average CAGR of 6% is anticipated for the Asia Pacific market.
In comparison to cardiac catheterization, Coronary Angiography has very elevated accuracy in detecting patients with coronary heart disease. As a result, there is an increase in demand for Coronary Angiography Devices in this region.
The Japanese administration's favorable reimbursement policies to promote technological breakthroughs are aiding and abetting the region's growth. In countries such as South Korea, Brazil, and India, the regulatory environment is less stringent, creating an intriguing opportunity for global companies to establish a presence in these markets.
China is consolidating to improve the quality of this equipment. Rising imports from leading market players such as GE Healthcare, Siemens Healthcare, and Koninklijke Philips N.V. are propelling the China angiography market forward.
| Regional Market Comparison | Global Market Share in Percentage |
|---|---|
| United States | 34.1% |
| Germany | 8.2% |
| Japan | 8.3% |
The Europe market is anticipated to register a CAGR of around 5.2% between 2022 and 2032. Burgeoning minimally invasive surgical interventions, increased emphasis on research and development capabilities in medical devices and on the adoption of advanced healthcare technologies, an increase in robotic-assisted surgical procedures, and rising expenditure on healthcare infrastructure development are the key factors driving the growth of the market in this region.
Furthermore, in Europe, the unhealthy lifestyle of the working segment of society may cause a spike in heart ailments, inciting the growth of the angiography devices market. Europe held a global market share of 28.1% in 2022.
| Regional Markets | CAGR (2023 to 2033) |
|---|---|
| United Kingdom | 5.9% |
| China | 8.3% |
| India | 7.7% |
| Australia | 5% |
Based on the device, MRA is anticipated to be the fastest-growing technology in the diagnosis of heart disease because of its minimal radiation exposure. MRA can acquire images in any anatomical plane with fantastic soft tissue contrast in 3D.
The advent of 3.0T MR imaging has greatly improved the diagnosis of coronary artery disease. These factors are said to boost segment growth as well.
In 2019, the diagnostic application dominated the market. CTA and MRA advancements provide useful information not only in cardiology but also in neurology, such as cerebral aneurysms, acute stroke, brain arteriovenous malformation, dural arteriovenous fistula, suspected cerebral vasculitis, and occlusive diseases.
| Category | By Procedure |
|---|---|
| Top Segment | Coronary Angiography |
| Market Share in Percentage | 48.7% |
| Category | By End User |
|---|---|
| Top Segment | Hospitals and Surgical Centers |
| Market Share in Percentage | 61.1% |
Historically, based on the end-users segment, the hospitals, and surgical centers segment occupied the dominant share of the global market.
This segment's growth can be attributed to the wide range of patients diagnosed and treated in hospitals, hospitals' high purchasing capacity for advanced technologies, the enormous percentage of diagnostic and therapeutic angiographic procedures, and growing recognition of the effects of timely disease diagnosis.
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Manufacturers are adopting various marketing strategies such as new product launches, geographical expansion, mergers and acquisitions, partnerships, and collaboration to identify the interest of potential buyers and create a larger customer base. For instance,
Inorbvict Healthcare India Private Limited is a private company founded on August 21, 2014. It is headquartered in Pune, Maharashtra, India. They recently introduced a low-cost Angiography System to the market.
Some leading angiography device manufacturers include Abbott Vascular (Abbott Laboratories), Toshiba Medical Systems Corporation, Royal Philips Electronics, GE Healthcare, Medtronic, Inc., Cordis Corporation, Shimadzu Corporation, and Siemens Healthcare.
These key angiography device providers are adopting strategies, such as new product launches and approvals, partnerships, collaborations, acquisitions, mergers, etc., to increase their sales and gain a competitive edge in the global angiography devices market. For instance,
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 6.2% from 2023 to 2033 |
| Market Value in 2023 | USD 12,717.9 million |
| Market Value in 2033 | USD 23,309.3 million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Device, Procedure, End Use, Indication, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; The Middle East and Africa |
| Key Countries Profiled | United States, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, Malaysia, Singapore, Australia, New Zealand, GCC, South Africa, Israel |
| Key Companies Profiled | Abbott Vascular (Abbott Laboratories); Toshiba Medical Systems Corporation; Royal Philips Electronics; GE Healthcare; Medtronic; Cordis Corporation; Shimadzu Corporation; Siemens Healthcare. |
| Customization | Available Upon Request |
The growth potential of the angiography devices market is 6.2% CAGR through 2033.
The market is expected to be valued at US$ 23,309.3 million by 2033.
North America enjoys monopoly in the angiography devices market.
India and China dominate the Asian market.
Abbott Vascular (Abbott Laboratories), Toshiba Medical Systems Corporation, and Royal Philips Electronics are key market players.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Device 5.1. Magnetic Resonance Angiography (MRA) 5.2. Computed Tomography Angiography (CTA) 5.3. Conventional 5.4. Digital Subtraction Angiography (DSA) 5.5. Catheter 5.6. Coronary 5.7. Other 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Procedure 6.1. Coronary Angiography 6.2. Pulmonary Angiography 6.3. Cerebral Angiography 6.4. Extremity Angiography 6.5. Renal Angiography 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User 7.1. Hospitals and Surgical Centres 7.2. Diagnostics Centres 7.3. Academic and Research Institutes 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Indication 8.1. Coronary Artery Disease (CAD) 8.2. Congenital Heart Disease 8.3. Congestive Heart Failure 8.4. Kidney Disorders 8.5. Other Indications 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Western Europe 9.4. Eastern Europe 9.5. South Asia and Pacific 9.6. East Asia 9.7. Middle East and Africa 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. Key Countries Market Analysis 18. Market Structure Analysis 19. Competition Analysis 19.1. Abbott Vascular (Abbott Laboratories) 19.2. Toshiba Medical Systems Corporation 19.3. Royal Philips Electronics 19.4. GE Healthcare 19.5. Medtronic 19.6. Cordis Corporation 19.7. Shimadzu Corporation 19.8. Siemens Healthcare. 19.9. Canon Medical Systems 19.10. St. Jude Medical Inc. 20. Assumptions & Acronyms Used 21. Research Methodology
Healthcare
June 2023
REP-GB-12575
220 pages
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Angiography Devices Market
