The Angiography Equipment Market is projected to reach USD 16.00 billion by 2027 from USD 10.74 billion in 2019, at a CAGR of 5.1%. Market growth can largely be attributed to factors such as technological advancements in angiography devices, the increasing number of patients with cardiovascular diseases other chronic disorders, and the growing number of angiography procedures performed across the globe.
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The hospitals and clinics segment dominated the market in 2018
Based on end user, the global angiography equipment market is segmented into hospitals clinics, diagnostic imaging centers, and research institutes. The hospitals clinics segment accounted for the largest share of the angiography devices market. The large share of this segment can be attributed to the large number of patient pool diagnosed and treated at hospitals, the high purchasing capacity of hospitals for advanced technologies, rising number of diagnostic and therapeutic angiographic procedures, and growing awareness on timely disease diagnosis.
Angiography systems segment dominated the market in 2018
On the basis of products, the market is segmented into angiography systems, angiography catheters, angiography guidewires, angiography balloons, angiography contrast media, vascular closure devices (VCDs), and angiography accessories. The angiography systems segment accounted for the largest share of the market. This can be attributed to the rising prevalence of coronary artery disease, increasing cases of blockages in blood vessels in non-coronary diseases, and technological advancements in angiography devices.
Europe held the largest regional market share in 2018.
Europe accounted for the largest share of the angiography equipment market in 2018. The large share of the European region can be attributed to factors such as the high prevalence of diseases such as cancer and CVD, the faster and easier product approval process in the region, the large number of ongoing research activities, growing government and public-private investments, increasing number of awareness programs, and rising adoption of angiography devices due to a large number of angiography procedures performed in European countries.
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The key players in the angiography equipment market are GE Healthcare (US), Koninklijke Philips N.V. (Netherlands), Siemens Healthineers (Germany), Canon Corporation (Japan), Boston Scientific Corporation (US), Cordis (a Cardinal Health Company, US), Shimadzu Corporation (Japan), Medtronic (Ireland), Angiodynamics (US), B. Braun Melsungen (Germany), and Abbott Laboratories (US).
Mr. Aashish Mehra
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