Coronary Angiography Devices - Market Insights, Competitive Landscape, and Market Forecast - 2030

Coronary Angiography Devices Market By Product (Angiography Systems, Angiography Catheters, Vascular Closure Devices (VCDS), Angiography Balloons, Angiography Guidewires, and Others), Technology (X-Ray Angiography, CT Angiography, MR Angiography, and Others), Application (Diagnostics and Therapeutics), End-User (Hospitals, Diagnostic Centers, and Others), and Geography is expected to grow at a steady CAGR Forecast till 2030 owing to the Increase in prevalence of cardiovascular diseases and the increase observed in the numbers of coronary angiography procedures.

The global coronary angiography devices market was valued at USD 11.72 billion in 2023, growing at a CAGR of 6.18% during the forecast period from 2024 to 2030, to reach USD 16.80 billion by 2030. The demand for coronary angiography devices is primarily witnessing growth on account of the growing prevalence of cardiovascular diseases, rising numbers of coronary angiography procedures, technological advancements in coronary angiography devices, and increasing product approvals for advanced angiography techniques.

Coronary Angiography Devices Market Dynamics:

The rising patient population suffering from cardiovascular diseases (CVDs) is one of the leading factors boosting the growth of coronary angiography devices. For instance, according to the American Heart Association 2022, globally, about 244.1 million people were living with coronary (ischemic) heart disease in 2020.

As per the data provided by British Heart Foundation 2022, worldwide around 550 million which stands for 1 in 14 people were living with heart and circulatory diseases in 2019 and this includes about 290 million women and around 260 million men.

The increasing number of risk factors such as obesity, hypertension, diabetes, smoking, old age, alcohol consumption, unhealthy lifestyle, atherosclerosis, and others is the main reason for the development of cardiovascular diseases further driving the market growth for coronary angiography devices.

The data published by International Diabetes Federation 2021 stated that around 537 million adults aged between 20 and 79 years were suffering from diabetes in 2021. As per the latest data provided by World Obesity Federation, obesity affected about 770 million people globally in 2020 and this number is expected to exceed one billion by 2030.

However, the high cost of coronary angiography and the poor reimbursement policies in developing nations are expected to limit market growth over the forecast period.

Coronary Angiography Devices Market Segment Analysis:

Coronary angiography devices market by Product (Angiography Systems, Angiography Catheters, Vascular Closure Devices (VCDs), Angiography Balloons, Angiography Guide wires, and Others), Technology (X-Ray Angiography, CT Angiography, MR Angiography, and Others), Application (Diagnostics and Therapeutics), End-User (Hospitals, Diagnostic Centers, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the coronary angiography devices market product segment, the angiography systems segment is expected to be the largest growing segment during the forecast period. The Angiographic systems manufacturers have developed various new technologies to address the emerging cath labs trends comprising the need to reduce the radiation dosage, provide improved image quality, and enable advanced procedural image guidance. The newer imaging systems allow advanced 3-D imaging with rotational angiography, which uses a quick spin around the patient to create a computed tomography (CT)-like, 3-D image of the anatomy. Due to the increased visualization via these systems, there will be a huge demand for such devices in the market as they will be preferred by doctors, leading to a boost in the market demand for angiographic systems.

Technological advancements such as radiation reduction in angiography systems have increased their demand in the market. The ionizing radiation from medical imaging is often a point of concern for both the patients and operator, as the transcatheter procedures become more complex, longer imaging time and radiation exposure is a threat to the patients. However, newer technologies have catered to the reduction in radiation dosage. The newer, larger displays allow better visualization in cath labs enabling a better field of view, instead of the operators trying to visualize anatomic details on smaller screens. For instance, The Philips Azurion angiography system tends to offer several imaging and software enhancements to aid guidance during complex interventional procedures. Thus, the technological advancements offered by these instruments will increase the demand for angiography systems in contrast to the other product types, leading to a rise in the angiography systems market.

North America is expected to dominate the overall Coronary Angiography Devices Market:

Among all the regions, North America is expected to account for the largest share of the coronary angiography devices market. This domination is due to the increasing prevalence of cardiovascular diseases (CVDs) in the region, improved reimbursement policies of coronary angiography procedures, and high adoption of technological advancements owing to the rise in healthcare expenditure by the US government. Also, the growing investments in the healthcare sector as well as the increasing acquisitions, mergers, and collaborations have resulted in driving the North America coronary angiography market.

The American Heart Association in 2021 projected that by 2035, more than 130 million US adults will have some type of heart disease.

According to the latest study conducted by the Centre for Disease Control and Prevention (CDC), one person dies every 34 seconds in the United States from cardiovascular disease. Also, as per the same source, about 697,000 people in the United States died from heart disease in 2020, in the United States and about 20.1 million adults aged 20 and above had coronary artery disease (CAD).

Additionally, the United States represents the largest market worldwide supported by developed healthcare infrastructure and strong adoption of advanced imaging technologies. Rising product launches and commercialization agreements among key manufacturers and other companies are anticipated to boost the market. For instance, on November 03, 2020, Food and Drug Administration cleared the Boston Scientific Ranger Drug-coated Balloon, developed for the treatment of patients with peripheral artery disease (PAD) in the superficial femoral artery (SFA) and proximal popliteal artery (PPA). Due to the increase in product launches and FDA approvals across the North American region, there will be a surge observed in the coronary angiography devices market.

Various other technological advancements such as improved image quality and lesser radiation exposure have also increased the adoption of coronary angiography devices in the market, thereby driving the coronary angiography market.

Coronary Angiography Devices Market Key Players:

Some of the key market players operating in the coronary angiography devices market include Terumo Medical Corporation, Boston Scientific Corporation, Canon Medical Systems, Braun Melsungen AG, Angiodynamics, Abbott Vascular (Abbott Laboratories), Toshiba Medical Systems Corporation, Royal Philips Electronics, GE Healthcare, Medtronic, Inc., Shimadzu Corporation, Siemens Healthcare, Cordis (A Cardinal Health Company), Translumina, Merit Medical Systems and others.

Recent Developmental Activities in Coronary Angiography Devices Market:

In July 2022, Canon Medical partnered with Cleerly for tackling heart disease. The collaboration breaks new ground by integrating Canon's AI-powered CT technology with Cleerly's digital pathway solution for the analysis of coronary artery disease.

In December 2020, GE Healthcare introduced the Allia IGS 7 system. That uses AI-optimized dose and imaging settings and enables easier use of rotational angiography.

In March 2020, Kinepict Health received FDA 510(k) clearance for its Kinepict Medical Imaging Tool (KMIT) software, which uses Digital Variance Angiography (DVA).

Key Takes Away from the Coronary Angiography Devices Market Report Study

Market size analysis for current market size (2023), and market forecast for 5 years (2024-2030)

Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years

Key companies dominating the Global Coronary Angiography Devices Market.

Various opportunities available for the other competitor in the coronary angiography devices market space.

What are the top-performing segments in 2023? How these segments will perform in 2030?

Which are the top-performing regions and countries in the current market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for market growth in the coming future?

Target Audience who can be benefited from Coronary Angiography Devices Market Report Study

Coronary Angiography Devices providers

Research organizations and consulting companies

Coronary Angiography Devices-related organization, association, forum, and other alliances

Government and corporate offices

Start-up companies, venture capitalists, and private equity firms

Distributors and Traders

Various End-users who want to know more about the coronary angiography devices market and the latest technological developments in the coronary angiography devices market.

Frequently Asked Questions for Coronary Angiography Devices Market:

1. What are Coronary Angiography Devices?

Coronary angiography is a minimally invasive procedure that utilizes a contrast material and X-rays to study and observe the blood flow via arteries in the heart. various devices used in the procedure such as the angiography systems, catheters, guidewire, and balloons among others are known as coronary angiography devices.

2. What is the market for global coronary angiography devices?

The global coronary angiography devices market was valued at USD 11.72 billion in 2023, growing at a CAGR of 6.18% during the forecast period from 2024 to 2030, to reach USD 16.80 billion by 2030.

3. What are the drivers for global coronary angiography devices?

The major drivers driving the demand for coronary angiography devices are the rising prevalence of cardiovascular disorders, the increase in technological advancements, an increase in the number of coronary angiography procedures, and the rise in product approval for advanced angiography techniques.

4. Who are the key players operating in global coronary angiography devices?

Some of the key market players operating in the coronary angiography devices market include Terumo Medical Corporation, Boston Scientific Corporation, Canon Medical Systems, Braun Melsungen AG, Angiodynamics, Abbott Vascular, and others.

5. Which region has the highest share in the coronary angiography devices market?

North America is expected to dominate the overall coronary angiography devices market during the forecast period, 2024 to 2030. This domination is due to the rising number of conferences and foundations increasing awareness among people, the rise observed in healthcare investments, the increase in mergers and acquisitions along with the introduction of various novel coronary angiography devices in the North American market.