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The Angiography Devices Market size is estimated to grow by USD 4.07 billion at a CAGR of 6.04% between 2022 and 2027. There has been a significant advancement in imaging technologies in the market. Some of the key imaging technologies that have advanced to a point where image quality is improved, radiation exposure is reduced, and image acquisition is accelerated include X-rays, Computed Topography (CTs), and Magnetic Resonance Imaging (MRIs). As a result of these advancements, it enhances the diagnostic precision of the devices used for angiography and thereby several healthcare professionals can now make better-informed decisions related to the use of these devices. Hence, such factors are positively impacting the market. It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
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The Patient Safety and Technology Access Board (PSTAB) has recognized the significance of Angiography Devices in the healthcare industry. These devices play a crucial role in the diagnosis and treatment of various cardiovascular diseases. The Scarring, Cardiomechanics, and Recovery (SCAR) trial has shown the effectiveness of Angiography in organizing thrombus and improving revascularization. The CVDS market for Angiography Devices is expected to grow, driven by the increasing prevalence of cardiovascular diseases and the rising demand for minimally invasive procedures. The Medicaid and other organizations have recognized the importance of Angiography in healthcare and have made efforts to increase access to these devices. The Federal Regulatory authorities have set stringent standards for these Devices to ensure patient safety and effectiveness. The market offers a range of devices, including Angiography Systems, Angiography Catheters, and Angiography Accessories, catering to the diverse needs of healthcare providers and patients.
The market encompasses imaging technology used in interventional cardiology for diagnosing and managing vascular disorders. Angiography systems, including coronary, cerebral, peripheral, and pulmonary, provide real-time, high-resolution images of blood vessels. Iodine-based radiocontrast agents are essential for enhancing image quality during these procedures. Angiography devices facilitate minimally invasive procedures and surgeries, such as tumor embolization and vascular closure. Neurovascular applications include stroke diagnosis and treatment. Technological innovations include MRA, Multislice CT, and Single Slice CT. Product approvals and radiation dose reduction are crucial for patient safety. Minimally invasive procedures and surgeries contribute to faster recovery and reduced scarring. However, concerns regarding radiation exposure, skin damage, and workplace exposure persist. Obesity, physical inactivity, and unhealthy diets contribute to the rising demand for angiography devices. Interventional cardiologists and medical organizations utilize these systems to make informed decisions, guide treatments, and improve patient outcomes. Angiography devices are integral to various medical procedures, including X-ray examinations and Positron Emission Tomography. They are essential tools for minimally invasive procedures and surgeries, offering multidisciplinary usability and contributing to advancements in patient care.
The diagnostic segment is estimated to witness significant growth during the forecast period. The medical imaging technique of angiography highly relies on the visualization of the circulatory system, especially the arteries and veins, within the human body. The equipment plays a vital role in this technique which offers precise and instantaneous visualizations of the structure and function of blood vessels. There is an increasing adoption of this technique for the diagnosis of different vascular disorders, the management of medical procedures, and the guidance of healthcare professionals to make informed decisions.
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The diagnostic segment was the largest segment and was valued at USD 7.23 billion in 2017. Some of the wide range of applications include coronary-angiography, cerebral-angiography, peripheral-angiography, pulmonary-angiography, etc. The main advantage of angiography devices is that they offer high-resolution, real-time images of your blood vessels. Additionally, these images are extensively used to diagnose, plan treatment, and evaluate your condition after an intervention. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period..
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North America is estimated to contribute 37% to the growth of the global market during the forecast period. Angiography devices and systems in North America have experienced substantial growth, fueled by advancements in medical technology and the rising demand for precise diagnostics and interventions. These tools enable 3D visualization of blood vessels and blood flow, aiding in the diagnosis and treatment of various cardiovascular diseases (CVDs), including coronary artery disease (CAD), stroke, and peripheral artery disease. Key drivers include the increasing awareness of CAD and cancer risk, the geriatric population's growing needs, and changing regulatory scenarios. Notable companies like Abbott Laboratories innovate in this field, offering solutions such as balloon catheters, contrast media (Barium sulfate, Gadolinium), and digitalized procedures. Cath lab trends include endovascular treatments, electrophysiological interventions, and image quality improvement. Cardiometabolic therapeutic interventions and CT angiography (CTA) are also gaining popularity, offering alternatives to conventional surgery. Federal regulations and healthcare infrastructure developments further impact the market. Chronic disorders, such as coronary heart disease and cancer, necessitate continuous innovation in angiography devices and systems.
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The Technological advancements in the healthcare industry have significantly impacted the Cardiovasculary sector, with Angiography Devices playing a pivotal role. These innovative tools enable the visualization and analysis of the cardiovascular system, facilitating early detection and treatment of various diseases. The Invasive Angiography market is witnessing a steady growth, driven by the increasing prevalence of cardiovascular diseases and the rising demand for minimally invasive procedures. The market is further propelled by the introduction of advanced technologies such as Cardiovasculary Ultrasound, Digital Subtraction Angiography, and Coronary Angiography Systems. The use of these devices in the diagnosis and treatment of diseases like Coronary Artery Diseases and Strokes has revolutionized healthcare, ensuring better patient outcomes and improved quality of life. The Prospects for this market are promising, with the ongoing research and developmen ensuring continued growth and innovation. There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges.
A key factor shaping the market growth is the minimization of radiation exposure. The ongoing efforts to minimize the amount of ionizing radiation that patients and healthcare providers are exposed to is the primary trend in the market. As a result, there is an increasing focus by the device manufacturers on developing systems that can deliver lower radiation doses while preserving image quality.
Moreover, image processing algorithms and dose modulation techniques as well as optimization of hardware components are extensively used to achieve the delivering lower radiation with image quality. Hence, such factors are positively impacting the market which in turn will drive the market growth during the forecast period.
High cost and limited accessibility are the key challenges hindering market growth. There are high expenses involved for the installation, purchase, and maintenance of angiography equipment across healthcare facilities. Additionally, the cost associated with the training of medical personnel to use the equipment adds to the total cost of ownership (COP).
Moreover, it is negatively impacting the market as the cost factor limits the availability of high-tech angiography technology, particularly in small, resource-poor settings or healthcare facilities. Hence, it has become a significant challenge to offer high-tech procedures and technologies which is hindering the market growth during the forecast period.
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The market 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 Market Customer Landscape
Companies 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. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Abbott Laboratories: The company offers pressure wire X guideware, coroventis coroflow cardiovascular system, and quantien measurement system.
Qualitative and quantitative analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market encompasses a range of technologies and equipment used in diagnostic and interventional medical procedures. These devices, including Angiography Systems, Catheters, and Accessories, enable healthcare professionals to visualize and analyze blood vessels and cardiovascular structures. AngioGraphs, a type of Angiography Device, use X-rays to produce detailed images of the inside of blood vessels. These Systems, such as Digital Subtraction Angiography (DSA) and Computed Tomography Angiography (CTA), are essential components of the market.
They provide real-time, high-resolution images of the vasculature, aiding in the diagnosis and treatment of various cardiovascular conditions. Catheters, like Balloon Catheters and Guiding Catheters, are used in conjunction with Angiography Systems for interventional procedures. Accessories, such as Injection Systems and Guides, facilitate the efficient and safe use of these devices. The mmarket is driven by the increasing prevalence of cardiovascular diseases and the growing demand for minimally invasive diagnostic and therapeutic procedures. Technological advancements, including the development of portable and wireless devices, are further fueling market growth.
Investments in the healthcare sector have significantly increased due to the growing geriatric population and the prevalence of an Unhealthy diet, leading to a rise in the incidence rate of obesity. As a result, awareness programs have been initiated to address these concerns, contributing to the adoption of angiography devices. These devices play a crucial role in minimally invasive surgeries, reducing the hospital stay and overall healthcare sector burdens. The market is witnessing substantial growth driven by these factors, highlighting the importance of advanced medical technologies in addressing cardiovascular diseases and improving patient outcomes.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Market Scope |
|
Report Coverage |
Details |
Page number |
163 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.04% |
Market growth 2023-2027 |
USD 4.07 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.62 |
Regional analysis |
North America, Europe, Asia, and the Rest of the World (ROW) |
Performing market contribution |
North America at 37% |
Key countries |
US, Canada, Germany, UK, and China |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abbott Laboratories, AbbVie Inc., AngioDynamics Inc., B.Braun SE, Boston Scientific Corp., Canon Inc., Cardinal Health Inc., Cook Group Inc., Cordis Corp., General Electric Co., Inorbvict Healthcare India Pvt Ltd., InterMed Medical Ltd., Johnson and Johnson, Koninklijke Philips N.V., Medtronic Plc, Shimadzu Corp., Siemens AG, Terumo Corp., and Toshiba Corp. |
Market dynamics |
Parent market analysis, Market Forecasting, 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. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
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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