The global angiography devices Market is projected to worth $16.1 Billion by 2026 and the market is projected to showcase 6.3% CAGR during the forecast period. The angiography devices market is driven by the continuous development in imaging technology for various applications in the healthcare industry.
Rising awareness about CVD and associated risk factors are expected to drive the market. Globally, the coronary artery disease results in maximum number of deaths and disabilities. The joint initiatives of the WHO and state governments to increase the awareness about heart diseases and underlying causes is further expected to contribute to the angiography equipment market growth.
The continuous advancement in imaging technology and rise in usage of angiography devices for cardiovascular diseases are the major factors that will create vast growth opportunities for the key medical device manufacturers in the global angiography devices market.Also, the companies are investing heavily on the development of innovative technologies, which is expected to support market growth. Increase in requirement for decreasing the radiation dose, improvement in image quality, and emerging cath lab trends are also expected to drive the angiography devices market.
The global angiography devices market is segmented into the product, technology, procedure, application, and region. On the basis of product, the global angiography devices market is segmented into catheters, contrast media, angiography systems,balloons, vascular closure devices, and angiography accessories. On the basis of technology, the global angiography devices market is segmented into MRA, CT, and X-Ray. On the basis of the procedure, the global angiography devices market is segmented into endovascular, coronary, and neurovascular. On the basis of the application, the global angiography devices market is segmented into therapeutic and diagnostic.On the basis of region, the global angiography devices market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Based on technology, the global angiography devices market can majorly be segmented into three sub-segments, which are MRA, CT, and X-Ray. The MRA segment is estimated to dominate the global angiography devices market. MRA is projected to be one of the fastest growing technology owing to its advantage of slight exposure to the radiation in the diagnosis of heart disease. MRA offers 3D capabilities to obtain images in any anatomical plane with exceptional soft tissue contrast. The development of 3.0T MR imaging has considerably improved the diagnosis of coronary artery disease (CAD). These factors are predicted to boost the growth of the technology segment.
The North America region is projected to dominate the global angiography devices market followed by the Asia Pacific and Europe region owing to the increase in old age population and rising incidence of cardiovascular diseases. The Asia Pacific region is expected to grow significantly at a rapid pace due to favorable government regulations in developing countries such as India, China, and Japan that are anticipated to hold the major share in the angiography devices market in the Asia Pacific region. Also, the developing countries in the Asia Pacific are estimated to offer lucrative growth opportunities to the key device manufacturers. This factor is expected to drive the growth of the angiography devices market.
Some of the prominent players operating in the global angiography devices market are Abbott Laboratories, Boston Scientific Corporation, AngioDynamics, Inc., Cordis Corporation, Siemens Healthcare Ltd, Medtronic, Inc., GE Healthcare, Koninklijke Philips N.V., Shimadzu Corporation, B. Braun Melsungen AG, and others.
The key manufacturers are taking strategic initiatives such as continuous product innovation, acquisitions, and partnerships in order to offer advanced imaging technologies for various application in end-use industries. Moreover, key players in the global angiography devices market are focusing mainly on forming strategic partnerships with other key players in order to expand their business globally.
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