Angiography Devices Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI1938
Angiography Devices Market size is projected to experience significant growth from 2017 to 2024.
Growing incidence of cardiac disorders such as coronary artery, congenital, pericardial, heart valve and aorta disease will drive angiography devices market growth. Increasing elderly population base prone to cardiovascular disorders will serve to be a high impact rendering factor. Increasing obesity, diabetes, high blood pressure and cholesterol incidence leading to increased risk of cardiac diseases should propel industry growth. Moreover, growing awareness regarding cardiovascular disease diagnosis and treatment coupled with growing demand for minimally invasive procedures will expand business.
Benefits of the procedure such as facilitation in determining extent of atherosclerosis and mode of treatment to be carried out will increase adoption rate. The procedure provides precise results pertaining to arterial blockages. Technological advancements such as development of FFR-CT imaging to determine coronary segment blood flow will further augment industry growth. High cost associated with the digital devices and instruments can impede the market revenue in future.
Magnetic resonance angiography technology is poised to exhibit profitable growth over the forecast timeframe owing to it being a comparatively newer innovation in the field of magnetic resonance imaging. The technology uses radio waves and a powerful magnetic field along with a computer for non-invasive visualization of vasculature and blood flow. Advantages of MRA such as absence of exposure to ionizing radiation, shorter information accrual time, non-invasive nature will drive segment growth. Unlike conventional procedures MRA can be conducted in outpatient settings and has fewer restrictions.
Contrast media should grow at a lucrative rate owing to its widespread use in angiography procedures. Capability of the dye to highlight differences between various body parts including ones with similar composition and provide an enhanced and improved quality image will boost growth. End-users include diagnostic centers, research laboratories and hospitals. Hospitals are poised to grow at a rapid pace due to increasing patient admission rates, presence of skilled medical staff and advanced equipment.
Coronary angiography procedure is slated to witness robust growth during the forecast years. The procedure uses contrast dyes and x ray for detecting blockages on coronary arteries caused due to plaque deposit. It is usually conducted to access the need of undergoing angioplasty or bypass surgery. Ability of the test to diagnose coronary heart disease and coronary microvascular disease coupled with increasing number of patients being admitted with chest pain, abnormal electrocardiogram and sudden cardiac arrests will stimulate demand. However, possible complications of the procedure such as bleeding, allergic reaction to dye, blood vessel damage, infection and blood clot may deter adoption.
U.S. angiography devices market held significant revenue share due to increasing incidence of cardiovascular disorders. As per American Heart Association data, in 2017, approximately 92.1 million Americans are living with some form of heart disease or after-effects of stroke. Increasing usage of coronary angiography after out of hospital cardiac arrests will fuel industry growth. Availability of advanced technology and skilled healthcare professionals will increase regional revenue share.
India angiography devices market is forecast to witness lucrative growth owing to the presence of increasing geriatric population and large patient pool suffering from cardiovascular disorders. Increasing obesity rates due to lifestyle changes and adoption of western diet will further fuel growth. Growing public awareness regarding benefits of early diagnosis and treatment of heart disorders and increasing number of healthcare centers will augment industry growth.
Prominent industry players include GE Healthcare, B. Braun, Boston Scientific, Medtronic, and Siemens Healthcare. The industry participants undertake strategic initiatives such as acquisitions, collaborations and new product development for enhancing their industry presence. For instance, in February 2017, Medtronic launched DxTerity Diagnostic Angiography Catheter line for use in cardiac catheterization procedures. The move has broadened the company’s coronary portfolio.
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