PUBLISHER: The Business Research Company | PRODUCT CODE: 1588816
PUBLISHER: The Business Research Company | PRODUCT CODE: 1588816
Coronary angiography devices are medical instruments and systems designed to visualize the coronary arteries, which supply blood to the heart. These devices are used in diagnostic procedures to identify blockages, narrowing, or other abnormalities in these arteries. The process involves injecting a contrast dye into the coronary arteries and then using X-ray imaging to produce detailed pictures of the blood vessels.
The coronary angiography devices market includes several key products such as angiography systems, angiography catheters, angiography contrast media, vascular closure devices (VCDs), angiography balloons, angiography guidewires, and angiography accessories. Angiography systems are sophisticated imaging setups that provide real-time visualization of blood vessels using X-rays. These devices employ various technologies, such as X-ray angiography, computed tomography angiography (CTA), magnetic resonance angiography, and others, to address conditions such as coronary artery disease, valvular heart disease, congenital heart disease, and congestive heart failure. They are used in both diagnostic and therapeutic applications, serving end-users such as hospitals, clinics, diagnostic and imaging centers, and research institutes.
The coronary angiography devices market research report is one of a series of new reports from The Business Research Company that provides coronary angiography devices market statistics, including the coronary angiography devices industry global market size, regional shares, competitors with coronary angiography devices market share, detailed coronary angiography devices market segments, market trends, and opportunities, and any further data you may need to thrive in the coronary angiography devices industry. These coronary angiography devices market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The coronary angiography devices market size has grown strongly in recent years. It will grow from $8.83 billion in 2023 to $9.43 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth during the historic period can be attributed to the increasing prevalence of cardiovascular diseases, the rising aging population, heightened demand for interventional cardiology, a growing preference for minimally invasive procedures, and improvements in healthcare infrastructure.
The coronary angiography devices market size is expected to see strong growth in the next few years. It will grow to $12.31 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The projected growth during the forecast period can be attributed to increasing awareness of heart health, the growing adoption of telemedicine, rising health expenditure, a focus on patient-centric care, and the increasing incidence of diabetes. Key trends expected in this period include technological advancements, progress in hybrid angiography systems, innovations in catheter designs, advancements in compact designs, and improvements in imaging software.
The growing prevalence of vascular heart diseases is expected to drive the expansion of the coronary angiography devices market. Vascular heart diseases involve conditions that affect the blood vessels supplying the heart or the heart itself. This rise in prevalence is attributed to changes in lifestyle, such as diet and physical activity, an aging population, and increasing rates of conditions such as diabetes and hypertension. Coronary angiography devices are crucial for diagnosing and assessing vascular heart diseases, as they provide detailed images of the coronary arteries, allowing for the precise detection of blockages, narrowing, and other abnormalities that inform treatment decisions. For example, in December 2023, the Australian Bureau of Statistics reported that 571,000 adults aged 18 and over in Australia were living with coronary heart disease (CHD), accounting for 2.9% of the adult population. CHD prevalence increases with age, affecting about 11% of adults aged 75 and older. Consequently, the rising incidence of vascular heart diseases is boosting the demand for coronary angiography devices.
Key players in the coronary angiography devices market are focusing on developing innovative products that integrate artificial intelligence (AI)-driven imaging technologies to enhance the precision and efficiency of coronary angiography procedures. AI-driven imaging uses artificial intelligence to automate image analysis, improving diagnostic accuracy and reducing procedure times. For instance, in June 2022, Shimadzu Corporation, a medical equipment manufacturer based in Japan, introduced an advanced version of its Trinias angiography system. This system features AI deep learning technology that enhances image processing and significantly lowers X-ray doses by over 40%. It offers a customizable workspace with around 100 functions for optimized layouts tailored to specific procedures and team needs. Additionally, the subscription-based SCORE Link service provides regular software updates to enhance operational efficiency and sustainability in clinical environments.
In April 2021, Siemens Healthineers, a Germany-based healthcare company, acquired Varian Medical Systems for $16.4 billion. This acquisition merges Varian's expertise in oncology with Siemens' strengths in medical imaging and diagnostics, creating a highly integrated portfolio. This integration is expected to advance imaging technologies essential for coronary angiography, improving the diagnostic process for cardiovascular diseases. Varian Medical Systems, a US-based company, specializes in X-ray tubes and digital image detectors designed for angiography, cardiology, and other imaging applications.
Major companies operating in the coronary angiography devices market are Cardinal Health Inc., Hitachi Ltd., Johnson & Johnson Services Inc., Abbott Laboratories, Medtronic plc, Siemens Healthineers AG, Koninklijke Philips N.V., GE HealthCare Technologies Inc., Boston Scientific Corporation, B. Braun Holding GmbH & Co. KG, Terumo Corporation, Edwards Lifesciences Corporation, Nipro Corporation, Shimadzu Corporation, Cook Group Incorporated, ICU Medical Inc., Biotronik SE Co. KG, Merit Medical Systems Inc., Cordis Corporation, Guerbet N.V., AngioDynamics Inc., Canon Medical Systems Corporation, Acist Medical Systems, Medinol Ltd., Alvimedica
North America was the largest region in the coronary angiography devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the coronary angiography devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the coronary angiography devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The coronary angiography devices market consists of revenues earned by entities by providing services such as imaging and diagnostic procedures, patient preparation and monitoring, and interventional treatments. The market value includes the value of related goods sold by the service provider or included within the service offering. The coronary angiography devices market also includes sales of angiography systems, contrast media injectors, guidewires, and catheters. 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.
Coronary Angiography Devices 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 coronary angiography devices 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 coronary angiography devices ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The coronary angiography devices 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.