PUBLISHER: The Business Research Company | PRODUCT CODE: 1425224
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425224
Angiography Equipment Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on angiography equipment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for angiography equipment? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The angiography equipment market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.
Angiogram equipment is utilized to examine blood vessels and visualize internal organs within the human body. The process involves injecting a radio-opaque contrast agent into the patient's bloodstream and capturing images using X-ray-based methods.
The primary products within the angiography equipment category include angiography systems, angiography catheters, angiography contrast media, vascular closure devices (VCD), angiography balloons, angiography guidewires, and angiography accessories. Angiography equipment, also known as contrast agents or contrast media, enhances the diagnostic value of imaging examinations. The technologies involved in angiography equipment include X-ray angiography, CT angiography, MR angiography, and other advanced imaging technologies. The procedures associated with angiography equipment encompass coronary angiography, endovascular angiography, onco-angiography, and neuro-angiography. These solutions find application across various end-users, including hospitals and clinics, diagnostic and imaging centers, as well as research institutes.
The angiography equipment products market research report is one of a series of new reports from The Business Research Company that provides Angiography equipment products market statistics, including angiography equipment products industry global market size, regional shares, competitors with angiography equipment products market share, detailed Angiography equipment products market segments, market trends, and opportunities, and any further data you may need to thrive in the angiography equipment products industry. This angiography equipment products market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry
The angiography equipment market size has grown strongly in recent years. It will grow from $12.47 billion in 2023 to $13.41 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The expansion observed during the historical period can be attributed to several factors, including the increasing incidence of cardiovascular diseases, the growth of minimally invasive procedures, the aging population contributing to a higher demand for diagnostic tools, ongoing developments in healthcare infrastructure, and the emphasis on clinical research and development.
The angiography equipment market size is expected to see strong growth in the next few years. It will grow to $17.95 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The anticipated growth in the forecast period can be attributed to several factors, including the integration of angiogram equipment with hybrid operating rooms (ORs), a heightened focus on data security and privacy, the globalization of healthcare services, a shift toward patient-centric care, and the increasing emphasis on personalized healthcare. Major trends expected during the forecast period encompass global healthcare accessibility, the rise of remote consultation and training in healthcare settings, the adoption of value-based healthcare models, ongoing efforts to enhance data security and interoperability, and the development of customization and tailored solutions in the angiogram equipment industry.
The increasing prevalence of cardiovascular diseases stands as a significant driver propelling the angiography equipment market. Employing X-ray imaging techniques, angiography systems detect blockages or constrictions within cardiac blood arteries. As per a 2021 World Health Organization (WHO) report, approximately 17.9 million individuals succumbed to cardiovascular diseases, accounting for about 32% of global fatalities. This statistic highlighted that 85% of these deaths were attributed to heart attacks and strokes. Consequently, the upward trajectory of cardiovascular diseases is anticipated to sustain the growth of the angiography equipment market.
A noteworthy contributor to the burgeoning angiography equipment market is the substantial rise in healthcare expenditure. Globally, an overall escalation in healthcare spending, both by governmental bodies and individuals, is fostering the adoption of advanced medical technologies, including angiography equipment. Recent data from the Centers for Medicare & Medicaid Services (CMS) released in June 2023 indicated that national health expenditure (NHE) in the United States surged by 2.7% to reach $4.3 trillion in 2021, accounting for $12,914 per person and representing 18.3% of the Gross Domestic Product (GDP). This substantial growth in healthcare expenditure is anticipated to drive the demand for angiography equipment.
A significant trend observed in the angiography equipment market is focused on product innovation. Leading companies in this sector are concentrating on developing novel and advanced solutions to fortify their market position. For example, in June 2022, Shimadzu Medical Systems, a US-based manufacturer specializing in advanced imaging systems, introduced the Trinias angiography system. This cutting-edge system incorporates artificial intelligence (AI) deep learning technology and operates at reduced X-ray doses, approximately 40% lower than previous models. Notably, this angiography system is the first to integrate AI into its image-processing engine, delivering an expanded feature set that streamlines workflow, thereby enhancing clinical operations within medical facilities.
Major corporations in the angiography equipment sector are directing their efforts toward integrating artificial intelligence (AI) and machine learning to heighten the accuracy of cardiovascular disease detection through angiography systems. AI algorithms play a pivotal role in interpreting images, enhancing diagnostic precision, and streamlining workflow efficiency. A case in point is Abbott Laboratories, a US-based healthcare firm that, in April 2021, unveiled the Ultreon software, incorporating AI into angiography equipment to enhance functionality. Abbott's automated system amalgamates AI with digital imaging technology, allowing physicians to swiftly acquire cross-sectional views of potential heart artery blockages. Compared to traditional angiogram imaging, this system aims to offer surgeons expedited and more precise information for coronary stent placements.
In April 2021, Siemens Healthineers AG, a German medical device company, acquired Varian Medical Systems Inc., an undisclosed amount. This strategic acquisition was geared towards meeting the escalating demand for data-driven personalized diagnosis and enhanced cancer care in response to the global surge in cancer rates. Varian Medical Systems Inc. is a UK-based firm specializing in medical devices.
Major companies operating in the angiography equipment market report are General Electric Company, Koninklijke Philips N.V., Siemens Healthineers AG, Canon Corporation, Boston Scientific Corporation, Cordis Corporation, Shimadzu Corporation, Medtronic PLC, Angiodynamics, B. Braun Melsungen, Abbott Laboratories, Terumo Corporation, Toshiba Medical System Corporation, Merit Medical Systems Inc., Hitachi Medical Systems, Carestream Health, Hologic Inc., Guerbet S.A., Bracco Imaging SpA, Lantheus Medical Imaging Inc., Nordion Inc., Esaote SpA, Mindray Medical International Limited, Neusoft Medical Systems Co. Ltd., Samsung Medison Co. Ltd., FUJIFILM Medical Systems Inc., Ziehm Imaging GmbH, Shimadzu Medical Systems Inc., Omega Medical Imaging Inc., Allengers Medical Systems Limited
Europe was the largest region in the angiography equipment market share in 2023. The regions covered in the angiography equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the angiography equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The angiogram equipment market consists of sales of angiography equipment solutions, flat-panel digital detectors and image intensifiers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.