The latest market report published by Credence Research, Inc. “Angiography Devices Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” the global angiography devices market was valued at US$ 9,496.6 Mn in 2017 and expected to grow at compound annual growth rate (CAGR) of 5.7% during the forecast period from 2018 to 2026.
The global angiography devices market is projected to grow at a consistent rate during the forecast period. The major reasons for the growth of this market include advancements in the technology, growing cardiovascular diseases globally, and surge in the adoption of angiography as a diagnostic test for determining the severity of the cardiovascular disorders. Rising number of hospitals and diagnostic centers in the emerging countries will further drive the market for angiography systems. In terms of technology, magnetic resonance angiography (MRA) emerged as the fastest growing market owing to higher accuracy and 3D visualization capabilities. Moreover, negligible exposure to radiation and technological advancements further drive the market. X-ray angiography held the largest share in 2017 and will continue to dominate the market throughout the forecast period. In terms of procedure, coronary angiography dominated the market in 2017. Growing prevalence of coronary artery diseases among the population and growing geriatric population attributed to the growth of the market. On the basis of end-user, hospitals held the largest share in the angiography devices market due to high demand for angiography devices and angiograms in hospitals. However, emergency centers and diagnostic centers will witness fastest growth rate due to growing number of such facilities in North America and Europe.
In terms of geography, North America accounted for the maximum share of angiography devices market. Major reason for the dominance of the market includes faster adoption of latest healthcare technology, domicile of major angiography devices manufacturers such as Philips Healthcare, ANGIODYNAMICS, Siemens Healthineers, and GE Healthcare among others. Europe also held a significant share in the market owing to high prevalence of CVD and developed healthcare facilities. Asia Pacific will exhibit fastest growth rate during the forecast period owing to developing healthcare infrastructure, growing number of hospitals and diagnostic centers coming up in the region and high target population. High geriatric population and growing awareness towards latest medical technologies make Asia Pacific a highly lucrative market. The key players currently engaged in angiography devices market include Siemens Healthineers, GE Healthcare, Philips Healthcare, Canon Medical Systems, Shimadzu Corporation, Abbott, Medtronic, Plc., Boston Scientific Corporation, ANGIODYNAMICS, Cardinal Health and B. Braun Melsungen AG among others.
Key Market Movements:
- Technological advancements in angiography devices especially in CT and MR angiography
Growingburden of cardiovascular disorders globally driving the demand for angiogram procedures
- High potential in emerging economies owing to developing healthcare infrastructure