Angiography is a minimally invasive process used to visualize the inside, or lumen, of the blood vessels and organs of the body. The conventional angiography technique is used in detection, diagnosis, and treatment of heart diseases, acute stroke, brain aneurysm, and vascular diseases. Recently, technological advancements in the interventional radiology have led to the development of OCT-angiography, MRI-angiography, and digital flat panel devices which are expected to drive the market growth during the forecast period.
The prominent players in the angiography equipment market are continuously involved in developing advanced systems to hold their market shares in the market. For instance, in 2016, Siemens Healthineers launched the innovative robot-supported Artis phenol angiography system. With this launch, the company extended its product portfolio in interventional radiology and interventional cardiology segment.
It is estimated that the global angiography equipment market is expected to register a CAGR of ~5.2 % during the forecast period of 2018–2023
On the other hand, the limitations in reimbursement for angiographic surgeries and risk of radiation exposure are the major restraints to the growth of the market. Furthermore, changing government regulations are likely to hamper the market growth during the forecast period.
The global angiography equipment market consists of four regions, namely, Americas, Europe, Asia Pacific, and the Middle East and Africa.
The global angiography equipment market is growing globally, where Europe holds the highest market share in the global angiography equipment market owing to well-developed infrastructure, due to increased cardiovascular disorders and continuous technological advancements. Moreover, rising numbers of angiography procedures and increasing preference to minimally invasive devices contribute to the growth of the market. For instance, according to the European Cardiovascular Diseases Statistics, in 2015, 11.3 million new cases of cardiovascular diseases were registered in Europe and 6.1 million new cases in the European Union.
The Asia Pacific angiography equipment market consists of countries, namely, China, Japan, the Republic of Korea, India, Australia, and the Rest of Asia Pacific. The market growth is driven by huge geriatric population, rising number of patients with cardiovascular disease symptoms, and increasing demand for minimally invasive techniques. Countries such as China, India, and Japan favor the growth of the market owing to the increase in large patient population and rising investments by private and public sectors to deliver improved healthcare services.
The Middle East and Africa holds the lowest share of the global market due to low development, lack of technical knowledge, and poor medical facilities. The Middle East holds the major share in the market in this region owing to a well-developed economy, whereas, the African region is expected to grow slowly due to poor economic conditions.
The global angiography equipment market is segmented on the basis of product, technology, procedure, indication, application, and end-user.
On the basis of product, the market is classified as angiography equipment solutions. Angiography equipment solutions are further segmented into angiography systems, angiography catheters, angiography contrast media, Vascular Closure Devices (VCDs), angiography balloons, angiography guidewires, and angiography accessories.
The global angiography equipment market on the basis of technology is segmented as X-ray angiography, CT angiography, MR angiography, and other angiography technologies. The X-ray angiography is further segmented into image intensifiers and flat-panel detectors.
The global angiography equipment market on the basis of procedure is further segmented into coronary angiography, endovascular angiography, neuro-angiography, onco-angiography, and other angiography procedures.
The global angiography equipment market on the basis of indication is segmented into coronary artery disease, valvular heart disease, congenital heart disease, congestive heart failure, and other indications.
Global Angiography Equipment Market Key Players
GE Healthcare (U.S.), Koninklijke Philips N.V. (Netherlands), Siemens Healthineers (Germany), Canon Corporation (Japan), Boston Scientific Corporation (U.S.), Cordis (a Cardinal Health Company, U.S.) Shimadzu Corporation (Japan), Medtronic (Ireland), Angiodynamics (U.S.), B. Braun Melsungen (Germany), Abbott Laboratories (U.S.), and Terumo (Japan) are prominent players in the global angiography equipment market.