The global coronary angiography devices market is continually rising, mainly due to the rising prevalence of cardiovascular and coronary diseases. Reasons behind the steadily increasing cases of cardiovascular diseases are the adoption of a sedentary lifestyle and environmental changes. There are many novel procedures and devices available to treat the diseases. The drastic increase in the number of angiography procedures performed every year is creating a huge market demand.
The Coronary Angiography Devices Market trends report expects the industry to reach USD 11.96 Billion by 2030 at 6.20% CAGR during the forecast period 2022-2030.
With increasing technological advancements, coronary angiography devices have evolved significantly over the past few years. These betterments have brought some of the considerably improved outcomes, which, in turn, drives the market growth, increasing the adoption of these devices. Also, there is a noteworthy increase in the awareness of the availability of effective treatments for cardiovascular disorders, which accelerates the growth of the market.
The growing demand for interventional angiography systems driven by the rising preference of minimally invasive treatment procedures among patients defines the increasing landscape of the market.
Additionally, factors such as the rising healthcare expenditures, advancing techniques benefitting in early diagnosis & treatments act as significant growth propellers.
Conversely, significant growth impeding factors of the market include the high cost of coronary angiography and limitations in reimbursement for angiographic surgeries in some developing economies. Nevertheless, the improving economic conditions would support the market growth over the assessment period, increasing the access to the quality care and per-capita healthcare expenses.
Global Coronary Angiography Devices Market – Segments
MRFR has segmented the market into eight main dynamics to widen the scope of understanding,
By Product : Angiography Catheters, Angiography Balloons, Vascular Closure Devices (VCDs), Angiography Systems, Angiography Contrast Media, Angiography Accessories, Angiography Guidewires, and others.
By Devices : Computed Tomography Angiography (CTA), Magnetic Resonance Angiography (MRA), Conventional Angiography, Catheter angiography, Digital Subtraction Angiography (DSA), Coronary angiography, and others.
By Procedure : Endovascular Angiography, Coronary Angiography, Peripheral Vascular Angiography, and other Angiography Procedures.
By Technology : CT Angiography, X-Ray Angiography, MR Angiography, and other Angiography Technologies.
By Indication : Coronary Artery Disease, Congestive Heart Failure, Valvular Heart Disease, Congenital Heart Disease, and other Indications.
By Application : Diagnostics, Therapeutics, and others.
By End-user : Hospital & Clinics, Diagnostic & Imaging Centers, Research Institutes, and others.
By Regions : Europe, Americas, Asia Pacific, Middle East & Africa, and Rest-of-the-World.
Global Coronary Angiography Devices Market – Geographical Analysis
North America dominates the global coronary angiography devices market. The largest market share attributes to the well-established healthcare sector, increasing prevalence of cardiovascular diseases, and the availability of advanced technology. Moreover, the increasing geriatric population alongside, the well-spread awareness about the benefits of early diagnosis and treatment in cases of heart-related disorders, fuels the market growth in this region. Additionally, high healthcare expenditures and the well-developed healthcare sector in the region impacts the growth of the North American coronary angiography devices market.
The coronary angiography devices market in Europe takes the second leading position globally. Factors such as the increasing healthcare expenditures and the growing patient population for cardiovascular diseases in the region act as a significant tailwind pushing the regional market forward. The presence of well-developed healthcare infrastructure, spreading awareness of CABG procedures, and technological advancements spur the regional market growth. Also, increasing numbers of angiography surgeries and the growing preference for minimally invasive procedures contribute to the growth of the regional market.
The Asia Pacific coronary angiography devices market in the region is emerging as a promising market globally. The region witnesses rising cases of patients suffering from cardiovascular disease and coronary diseases. Besides, the proliferating healthcare sector in highly populated countries like India, Japan, and China drive regional market growth.
Additionally, a large patient population alongside the rising investments by private and public sectors fosters the growth of the regional market. Also, increasing geriatric populace and spreading awareness about healthcare, positively influence the growth of the regional market.
Coronary Angiography Devices Market – Competitive Landscape
Highly competitive, the coronary angiography devices market appears to be fragmented, with many well-established players forming a competitive landscape. To gain a larger market share, players adopt strategies such as mergers & acquisitions, collaboration, expansion, and product & technology launch. Substantial investments are transpired in R&D to bring betterment in the existing products as well as to develop new ones.
Leading players holding the coronary angiography devices market share include Boston Scientific Corporation, Terumo, Canon Medical Systems, B. Braun Melsungen AG, Cordis (A Cardinal Health Company), Angiodynamics, Toshiba Medical Systems Corporation, Abbott Vascular (Abbott Laboratories), Royal Philips Electronics, Medtronic, Inc., GE Healthcare, Shimadzu Corporation, and Siemens Healthcare, among others.
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