The global angiography equipment market size is expected to reach USD 16.2 billion by 2026, according to a new report by Grand View Research, Inc. The market is expected to witness an exponential CAGR of 6.5% over the forecast period due to growing geriatric population, increasing prevalence of Cardiovascular Diseases (CVDs) with associated risk factors, technological advancements, and investments in the health tech sector. According to the World Health Organization (WHO) report, CVD is one of the leading causes of death in countries, such as U.S. and U.K.
Coronary Artery Disease (CAD) is the most prevalent form of CVD. Through Global Hearts Initiative, the WHO is supporting governments in controlling cardiovascular risk factors, such as hypertension and diabetes. All these factors are projected to boost the market expansion over the forecast period. Rapid development of the diagnostic imaging modalities providing better visualization and assessment of CVD is also likely to drive the angiography devices market in the years to come.
Geographically, North America held the largest market share in 2018 and is expected to maintain its position during the forecast period. Countries, such as Brazil and China, export the medical devices from U.S. owing to the high standard of quality. Due to favorable government regulations in developing countries, such as Japan and China, the Asia Pacific region is projected to expand at a healthy CAGR during the estimated period. For instance, reimbursement policy in Japan encourages the local manufacturers to provide advanced angiography diagnostic devices.
Further key findings from the study suggest:
- Angiography systems led the market in 2018 owing to the advancements in technology and interventional procedures in Cath labs
- In 2018, X-ray held the largest share of the market due to technological developments offering superior-quality and high-resolution images without increasing radiation dose
- Coronary angiography led the procedure segment due to increased prevalence of Cardiovascular Diseases (CVDs)
- In 2018, diagnostic angiography accounted for the largest share of the application segment due to the growing complexity of the diseases
- Some key companies in the industry are GE Healthcare; Koninklijke Philips N.V.; Siemens Healthineers; Boston Scientific Corporation; Abbott Laboratories; B. Braun Melsungen; Medtronic, Inc.; Angiodynamics; Cordis Corporation; and Shimadzu Corporation
www.grandviewresearch.com/industry-analysis/angiography-device-market
Grand View Research has segmented the global angiography equipment market on the basis of product, technology, procedure, application, and region:
Angiography Equipment Product Outlook (Revenue, USD Million, 2015 - 2026)
- Angiography Systems
- Catheters
- Balloons
- Guidewire
- Contrast Media
- Vascular Closure Devices
- Angiography Accessories
