Acknowledging the Significant Traction that the Market is Garnering Currently, a Leading Research Firm - Market Research Future (MRFR) Asserts that the Global Angiography Equipment Would Further Witness Substantial Growth by 2023
Angiography Equipment Market – Highlights
The prevalence of cardiovascular and coronary diseases is rising continually over the past few years, and changing lifestyle is the primary reason. The good news is that there are several novel treatment procedures and equipment & devices are available in the market for the management of these conditions. The drastic increase in the numbers of angiography procedures performed every year is driving the demand for equipment and devices to be used during these procedures.
Resultantly, the size of the Angiography Equipment Market is on a constant rise. Also, equipment used in angiography procedures has evolved significantly, demonstrating remarkable advances. Such betterments are driving the growth of the market, predominantly. Moreover, a noteworthy increase in the awareness about the availability of cardiovascular-related surgeries and treatments accelerates market growth. the market would post a CAGR over 5%. Technological advancements in interventional radiology is a key driving force behind the growth of the market.
The growing demand for interventional angiography systems driven by the increasing numbers of minimally invasive surgeries along with the rising healthcare expenditures defines the growing landscape of the market. In addition to the increasing prevalence of cardiovascular diseases and increasing numbers of angiography procedures, advancing techniques benefitting in early diagnosis & treatments also act as significant growth propellers.
Conversely, significant factors hampering the growth of the market are limitations in reimbursement for angiographic surgeries and risk of radiation exposures. However, improving economic conditions would support the market growth over the assessment period, increasing the access to the quality care and per-capita healthcare expenses.
Angiography Equipment Market - Competitive Landscape
Highly competitive, the angiography equipment market appears fragmented due to the presence of many well-established players. To gain a large share in the market, players adopt strategies such as mergers & acquisitions, collaboration, expansion, and product & technology launch. Substantial investments are transpired in R&D to bring betterment in the existing products as well as to develop new ones.
Major Players:
Players churning the competition in the global angiography equipment market include Koninklijke Philips N.V. (Netherlands), Siemens Healthineers (Germany), GE Healthcare (US), Boston Scientific Corporation (US), Cordis, a Cardinal Health Company, (US), Canon Corporation (Japan), Medtronic (Ireland), Angiodynamics (US), Shimadzu Corporation (Japan), Abbott Laboratories (US), Terumo (Japan), and B. Braun Melsungen (Germany), among others.
Industry/Innovation/Related News:
September 02, 2019 --- Garrison Financial Corporation (the US), a leading provider of investment advisory services announced the acquisition of additional 6,527 shares in Abbott Laboratories (the US), a health care company involved in the development and sales of a broad and diversified line of health care products and services. It is an increase of 8.8% stake of the company after ABT’s stock rose 10.62%.
Garrison Financial’s portfolio includes wealth management, equities, fixed income, investment strategies, financial planning, consulting, and advisory services. Abbott Laboratories’ products include pharmaceuticals, nutritional, diagnostics, and vascular products. The company markets its products worldwide through affiliates and distributors. In April last year, Abbott had initiated a groundbreaking study to assess the superiority of high-resolution imaging versus standard-of-care angiography in T.
Global Angiography Equipment Market - Segments
The analysis is segmented into seven market dynamics to widen the scope of understanding,
By Procedure : Endovascular Angiography, Coronary Angiography, Neuro-Angiography, Onco-Angiography, and other Angiography Procedures.
By Technology : CT angiography, X-ray angiography, MR angiography, and other angiography technologies.
By Product: Angiography Catheters, Angiography Systems, Angiography Contrast Media, Angiography Balloons, Vascular Closure Devices (VCDs), Angiography Guidewires, and Angiography Accessories.
By Indication : Valvular Heart Disease, Coronary Artery Disease, Congenital Heart Disease, Congestive Heart Failure, and other indications.
By Application : Diagnostics and Therapeutics.
By End-user: Hospitals & Clinics, Diagnostic & Imaging Centers, and Research Institutes.
By Regions: Europe, North America, Asia Pacific, and the Rest-of-the-World.
Global Angiography Equipment Market - Geographical Analysis
The European region dominates the global angiography equipment market with the largest market share. The increasing healthcare expenditures and the growing population in the region are some of the factors that act as a major tailwind pushing the regional market forward. Moreover, the presence of well-developed healthcare infrastructure and a large patent population suffering from cardiovascular disorders spur the regional market growth.
Moreover, spreading awareness of CABG procedures and technological advancements are expected to support the angiography equipment market in the region. Also, increasing numbers of angiography surgeries and the growing preference for minimally invasive procedures contribute to the growth of the regional market. Furthermore, the rising prevalence of cardiovascular diseases increases the demand for angiography equipment in the increasing numbers of specialty care services in hospitals & tertiary care centers in the region.
The angiography equipment in North America takes the second leading position, globally, witnessing increasing numbers of coronary artery bypass procedures. Growing geriatric population and the prevalence of cardiac diseases drive the regional market growth, majorly. Additionally, increasing expenditure on healthcare alongside the well-developed healthcare sector impacts the growth of the North American angiography equipment market.
Moreover, high per capita healthcare spending and the growing prevalence of coronary diseases in the region spur the market growth in the region. The presence of state-of-the-art-infrastructure contributes to the regional market, allowing the development of technologies and the early adoption of advanced technologies. Furthermore, the rapid uptake of advanced technologies and devices in the surgical process is a key growth driving factor.
The angiography equipment market in the Asia Pacific region is emerging as a promising market globally. The region witnesses rising cases of patients suffering from cardiovascular disease and coronary diseases. Besides, the proliferating healthcare sector in highly populated countries like India, Japan, and China drive regional market growth.
Additionally, a large patient population alongside, the rising investments by private and public sectors fosters the growth of the regional market. Also, increasing geriatric populace and spreading awareness about healthcare, positively influence the growth of the regional market.
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