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| Global Angiography Equipment Market |
Angiography equipment are medical devices used to perform angiography imaging procedures. They are used to visualize the inside of blood vessels and organs such as arteries and veins. Angiography equipment are used to diagnose and treat various cardiovascular diseases including coronary artery disease, heart attacks, congenital heart defects, and peripheral artery disease among others. The increasing prevalence of cardiovascular diseases is a major factor driving the demand for angiography equipment globally.
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 angiography equipment market has high growth potential owing to increasing
demand for minimally invasive surgeries and procedures. Key players are
focusing on developing advanced angiography systems with new technological
features like flat panel detectors and 3D imaging capabilities to gain
competitive advantage.
Globally, the angiography equipment market is witnessing expansion in emerging
economies of Asia Pacific and Latin America due to improving healthcare
infrastructure and increasing healthcare spending. Key players are focusing
their efforts on these emerging markets to leverage growth opportunities.
Market drivers
Rising geriatric population: The elderly are more prone to developing
cardiovascular diseases due to age-related wear and tear of blood vessels and
organs. This is a major factor driving the demand for angiography procedures
and equipment.
Increasing prevalence of obesity and diabetes: Growing obesity and diabetes
pandemic has resulted in sharp rise in risk of coronary artery disease and other
CVDs globally. This is expected to propel the angiography equipment market.
Market restraints
High costs associated with angiography procedures and equipment: Angiography
systems are highly sophisticated and expensive in nature. This adversely
impacts their adoption rate in price sensitive developing markets.
Exposure to radiation: Angiography procedures involve exposure to x-ray
radiation which may increase long term cancer risk with frequent usage. This
discourages repeated diagnostic angiograms and acts as a restraining factor.
Segment
Analysis
The Global
Angiography Equipment Market Growth can be segmented on the basis of product type,
technology, application, end-user, and geography. By product type, the
angiography systems segment dominates the market as angiography systems are
specifically and solely used for angiography procedures worldwide. By
technology, the MRI segment is expected to grow at a high CAGR during the
forecast period. MRI angiography offers advantages over conventional
angiography as it does not require exposure to radiation or injection of
iodinated contrast material. By application, the coronary angiography segment
holds the largest share as it is the most commonly performed angiography
procedure globally. By end-user, the hospitals segment accounts for the maximum
share of angiography procedure volumes worldwide.
Global Analysis
Regionally, North America holds the major share of the global angiography
equipment market and is expected to continue dominating during the forecast
period. Factors such as advanced healthcare infrastructure, favorable
reimbursement policies, and presence of key market players in the region drive
the large share of North America. However, Asia Pacific is expected to grow at
the highest CAGR during the forecast period. Rising medical tourism industry in
Asia Pacific coupled with improving healthcare infrastructure and increasing
healthcare expenditure in the region support the rapid growth of the
angiography equipment market in Asia Pacific.
For more insights, read-https://www.newsstatix.com/global-angiography-equipment-market-trends-size-and-share-analysis/
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