Angiography Devices Market: Key Insights
Angiography devices are medical equipment to visualize blood vessels, particularly the arteries, veins, and capillaries. The devices are commonly used for diagnostic procedures in interventional radiology, cardiology, and neurology. Angiography is a minimally invasive procedure that involves the injection of a contrast agent into the blood vessels, which makes it possible to visualize the blood vessels on a computer screen. The demand for angiography devices has been increasing due to the growing number of cardiovascular and neurological disorders and technological advancements.
Angiography devices include magnetic resonance angiography (MRA), computed tomography (CT), X-ray, and other technologies. CT angiography is widely used for diagnosing cardiovascular and neurological disorders, and MRA is used to visualize blood vessels in the brain and neck. DSA is widely used for diagnostic and therapeutic procedures in interventional radiology. The increasing demand for non-invasive diagnostic procedures and the development of new and advanced angiography devices are driving the growth of the angiography devices market.
Rising Incidence of Cardiovascular Diseases to Drive Angiography Devices Market
The rising incidence of cardiovascular diseases, such as heart attacks and strokes, increases the demand for angiography procedures. According to the Global Health Data Exchange 2019, globally 64.37 million people suffered from heart failure in 2019. The primary risk factors of CVDs include family history, ethnicity, and age; other risk factors include tobacco consumption, hypertension, obesity, high cholesterol, physical inactivity, and diabetes. The WHO estimates 17.9 million lives are lost due to CVDs annually. Additionally, advancements in angiography technology, such as the development of minimally invasive angiography techniques, contribute to the growth of the angiography devices market.
Also, the increase in number of angiography procedures due to increase in incidences of cardiovascular diseases and other heart related diseases is fueling the growth of the market.
Angiography Devices Market: Segmental Overview
The global angiography devices market is segmented on the basis of product, technology, procedure, indication, and end user. Based on product, the market is bifurcated as angiographic systems and consumables. On the basis of the technology, the market is segmented into magnetic resonance angiography (MRA), computed tomography (CT), X-ray, and other technologies. On the basis of the indication, the market is segmented into known & suspected coronary artery disease (CAD), congenital heart disease, congestive heart failure, valvular heart disease, and others. The market, on the basis of the end user, is classified as hospitals, diagnostic centers, ambulatory surgical centers, and academic research laboratories.
Based on end user, the academic research laboratories segment held a substantial share in the market. Hospitals play a vital role in the growth of the angiography devices market as they are the primary setting where angiography procedures are performed. Hospitals have the necessary equipment, facilities, and trained personnel to perform advanced diagnostic tests and procedures. In addition, hospitals and surgical centers have the resources and infrastructure necessary to invest in high-end imaging systems and other medical technologies.
Angiography Devices Market: Competitive Landscape and Key Developments
Siemens AG, Cardinal Health Inc., Koninklijke Philips NV, Canon Medical Systems Corporation, General Electric Company, Shimadzu Corporation, Boston Scientific Corporation, B. Braun Melsungen AG, Abbott Labs, and Medtronic Plc are among the key players operating in the angiography devices market. These companies have a widespread presence worldwide, which provides lucrative opportunities to serve a large number of customers and expand the market.
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