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The angio suites market is estimated to grow at a CAGR of 5.65% between 2022 and 2027. The size of the market is forecasted to increase by USD 819.65 million. The growth of the market depends on several factors, including the rising prevalence of cardiac disorders, the increasing product launches, and a paradigm shift toward MI procedures.
This report extensively covers market segmentation by type (biplane angio suite and single plane angio suite), end-user (hospitals and clinics, diagnostic and ambulatory surgery centers, and research laboratories and institutes), and geography (North America, Europe, Asia, and Rest of World (ROW)). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The rising prevalence of cardiac disorders is notably driving the market growth, although factors such as complications and side effects associated with angio suites imaging may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Angio Suites Market Driver
Significant Angio Suites Market Trend
With the help of AI, end-users can automate and standardize complex diagnostic procedures, improve patient experience and outcomes, and reduce the cost of care.
The integration of AI enables radiologists and technicians to increase productivity, improve accuracy, and reduce errors in diagnosis.
Global healthcare market leaders are entering into partnerships with medical technology companies to implement AI. For instance, in July 2021, Philips signed a strategic collaboration agreement with NICO.LAB to enhance outcomes in stroke patients.
These factors will support the growth of the global angio suites market during the forecast period.
Major Angio Suites Market Challenge
As angio suites use ionizing radiation and radioactive substances, their side effects can be severe.
Most angio suites have an x-ray generator and image intensifier. However, x-rays are associated with the risk of cancer, cataracts, and skin burns due to prolonged exposure to radiation.
Children and women are more prone to the side effects of X-ray radiation when compared to men.
Though the complication and side effects related to angio suites are rare, they can cause severe long-term issues, such as cancer and neurological disorders.
All these factors are expected to hinder the growth of the market during the forecast period.
Key Angio Suites Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Angio Suites Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
3D Systems Corp. - The company offers angio suites named 3D simulator angio monitor.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the biplane angio suite segment will be significant during the forecast period. Biplane angio is an advanced medical facility, where a professional can perform minimally invasive procedures on patients with cardio disorders. The demand for minimally invasive procedures is increasing at a significant rate owing to better outcomes.
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The biplane angio suite segment was valued at USD 1,504.35 million in 2017 and continue to grow until 2021. The growing number of minimally invasive procedures for treating closed and damaged heart valves and neck vessels has contributed to the market growth in recent years. Minimally invasive procedures for treating heart valve disease, which include MitraClip implantation, transcatheter aortic valve implantation, and valvuloplasty, are other factors that have further increased the sales of angio suites. All these factors will drive the growth of the segment during the forecast period.
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North America is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The angio suites market in the region is expected to grow at a moderate rate during the forecast period. The rising prevalence of chronic diseases such as cardiovascular disease, technological advances, product launches, the growing number of awareness programs, and high spending on healthcare are driving the growth of the market in North America. In addition, new technological developments are expected to increase the clinical use of angio suites. The shift toward precision medicine and the increased use of imaging equipment across several healthcare applications are also driving the growth of the market in North America.
This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. COVID-19 had a negative impact on the demand for angio suites in North America, as the supply chain network for diagnostic imaging devices such as angio suites was halted in the first half of 2020. However, in 2021, lockdown restrictions in various countries were relaxed due to large-scale vaccination drives, which led to the resumption of business activities. Hence, the resumption of manufacturing and supply activities and pharmaceutical operations is expected to drive the demand for angio suites in North America during the forecast period.
The report forecasts market growth by revenue at global, regional, and country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The reports categorize the global angio suites market as a part of the health care equipment market, which covers products and companies engaged in R&D of a variety of product categories, including capital equipment, instruments, implants, accessories, and consumables that are used for the diagnosis, monitoring, and treatment of various diseases. Technavio calculates the global healthcare equipment market size based on combined revenue generated by manufacturers of various diagnostic equipment and devices used across the therapy areas. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
Angio Suites Market Scope |
|
Report Coverage |
Details |
Page number |
159 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.65% |
Market growth 2023-2027 |
USD 819.65 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.19 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 36% |
Key countries |
US, Germany, UK, China, and Japan |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
3D Systems Corp., B. Braun SE, Canon Inc., Carestream Health Inc., Carl Zeiss Stiftung, Esaote Spa, FUJIFILM Holdings Corp., General Electric Co., Guerbet, Hologic Inc., IMRIS Deerfield Imaging Inc., Koninklijke Philips NV, Lam Vascular and Associates, Mentice AB, Mindray Bio medical Electronics Co. Ltd, Planmeca Oy, QMD, Shimadzu Corp., Siemens AG, and Surgical Science Sweden AB |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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