June 19, 2024
Global Angiography Equipment Market

The Global Angiography Equipment Market Is Trending Due To Rising Incidences Of Cardiovascular Diseases

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 from 2024 to 2030. Angiography equipment are commonly utilized for minimally invasive procedures to diagnose and treat various cardiovascular diseases and conditions. Some key advantages of angiography include reduced post-procedure recovery time, minimized risks of complications and scarring. The growing prevalence of diseases like coronary artery disease and stroke has increased the demand for angiography procedures globally.

Key Takeaways

Key players operating in the Global Angiography Equipment Market 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. B. Braun Melsungen AG and Koninklijke Philips N.V. are two of the foremost players in the market.

The demand for angiography equipment is growing significantly owing to the rising prevalence of cardiovascular diseases worldwide. As per estimates, cardiovascular diseases account for over 17 million deaths annually, with over three quarters of these occurring in low and middle income countries. The geriatric population is also highly susceptible to such diseases, thereby increasing the need for angiography procedures.

The market is witnessing rapid global expansion supported by increasing healthcare spending across developing nations. Key players are focusing on emerging markets in Asia Pacific and Latin America through strategic partnerships and collaborations. Several countries are also working towards improving access to affordable healthcare through various government initiatives.

Market Key Trends

One of the key trends in the Global Angiography Equipment Market Growth is the growing adoption of flat panel detector-based angiography systems. Flat panel detectors provide improved image quality with high resolution and sensitivity compared to older image intensifier technology. They also enable better visualization of vascular structures and anatomical details. Leading manufacturers like Philips, Siemens and Canon have incorporated advanced flat panel detectors in their latest angiography systems. Another noticeable trend is the miniaturization of angiography components to develop compact mobile C-arm systems with flexible applications in surgery suites and clinics. Ongoing technological advancements in fields like robotics, artificial intelligence and immersive medical imaging are likely to disrupt and shapethe future of angiography over the next decade.

Porter’s Analysis

Threat of new entrants: New entrants face significant costs to enter the market as angiography equipment require substantial R&D investment and regulatory compliance. Bargaining power of buyers: Buyers have moderate bargaining power as angiography equipment have no close substitutes and switching costs are high for buyers. Bargaining power of suppliers: Suppliers have moderate bargaining power due to differentiated products and switching costs for buyers. Threat of new substitutes: Substitutes have low threat as angiography is an important medical procedure with no close substitutes. Competitive rivalry: Intense competition among existing players to capture greater market share.

North America held the largest share of the global angiography equipment market in 2020. Factors such as increasing awareness about angiography procedures, growth in geriatric population, rising prevalence of CVDs, and significant involvement of market players are driving the market growth in this region. The Asia Pacific market is expected to witness the highest growth during the forecast period owing to growing healthcare expenditure, increasing cases of cardiovascular diseases due to changing lifestyle, rising medical tourism, and growth in aging population.

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