February 28, 2024
Global Angiography Equipment Market

Global Angiography Equipment Market Is Estimated To Witness High Growth Owing To Technological Advancements

The global angiography equipment market comprises imaging systems that visualize and obtain images of blood vessels, blood pressure, and blood flow for the diagnosis and treatment of cardiovascular conditions and diseases. Angiography equipment performs minimally invasive procedures through X-ray imaging for checking blood flow and identifying abnormalities or blockages. The equipment finds extensive applications in the diagnosis of various cardiovascular diseases, including coronary artery disease, valve disease, congenital heart disease, and others. It provides real-time images of the body’s circulatory system to effectively treat abnormalities or dysfunctions. The Global Angiography Equipment Market is estimated to be valued at US$ 12.17 BN in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the Global Angiography Equipment are B. Braun Melsungen AG, Koninklijke Philips N.V., GE Healthcare, Cardinal Health, Siemens Healthcare Gmbh, Shimadzu Corporation, Medtronic plc, Boston Scientific Corporation, ANGIODYNAMICS, Abbot, Microport Scientific Corporation, Terumo Corporation, CURATIA MEDICAL INC., Cook Medical, Merit Medical Systems, Inc. and Applied Medical Resources Corp.

The key opportunities in the angiography equipment market include growing geriatric population suffering from cardiovascular diseases, increasing demand for minimally invasive procedures, and technological advancements in imaging systems.

Technological advancements like flat panel detectors, mini C-arms, and mobile C-arms have enhanced image quality and resolution. Moreover, introduction of complex angiographic imaging techniques like MRI angiography and CT angiography is also aiding the market growth.

Market drivers

The major market driver for Global Angiography Equipment Market Growth  equipment is the rising prevalence of diseases requiring angiographic procedures. According to the World Health Organization (WHO), cardiovascular diseases are the leading cause of death globally, taking an estimated 17.9 million lives each year. The growing geriatric population is also increasing the risk of developing cardiac disorders. Furthermore, surging adoption of minimally invasive techniques over traditional vascular surgeries is propelling the demand for angiography equipment. Technological advancements enhancing imaging accuracy and reducing procedure time are further augmenting the market expansion.

Challenges in Global Angiography Equipment Market

The angiography equipment market is facing various challenges currently due to the ongoing COVID-19 pandemic situation. Factors like shortage of skilled healthcare professionals, supply chain disruptions, postponed surgeries and procedures, increased cost of treatment are negatively impacting the market growth. Other major challenges include high cost of angiography systems, stringent government regulations surrounding medical devices and equipment, and availability of alternative non-invasive diagnostic modalities like computed tomography (CT) and magnetic resonance imaging (MRI) scans.

SWOT Analysis

Strength: Advanced technologies like flat panel detectors (FPDs), biplane angiographic systems help improve imaging quality. Growing applications in cardiology, neurology, oncology boost demand.
Weakness: High costs of angiography equipment make it difficult for smaller healthcare facilities to adopt. Stringent regulatory requirements increase the compliance burden.
Opportunity: Rising disease incidence of cardiovascular, neurological disorders worldwide presents vast growth prospects. Untapped emerging markets in Asia Pacific and Africa offer scope for expansion.
Threats: Presence of alternative modalities like CT, MRI poses competitive threat. Economic slowdowns can negatively impact capital spending on medical devices.

Geographical Regions

North America dominates the global angiography equipment market currently in terms of value, owing todeveloped healthcare infrastructure, rising geriatric population, and growing prevalence of chronic diseases. According to estimates,North America accounted for over 40% market share in 2024.

Asia Pacific is projected to be the fastest growing regional market for angiography equipmentbetween 2024-2030. Factors like improving access to healthcare, rising healthcare spending, growing medical tourism industry in countries like India, China, Singapore will drive the demand. Growing patient pool of cardiovascular, neurological disorders also boosts the APAC angiography equipment market growth.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it