The global angiography devices market size is projected to exceed around USD 16.1 billion by 2026, the market is estimated to grow at 6.3% CAGR during the forecast period. The growing incidence of coronary artery disease is one of the factors that are expected to boost the growth of the global angiography devices market.
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Coronary Artery Disease (CAD) is the most widespread form of cardiovascular diseases. The WHO is supporting governments through Global Hearts Initiative in monitoring the cardiovascular risk factors that include diabetes and hypertension. This factor is estimated to increase the expansion of angiography devices market in the coming years. The rise in the continuous development of the diagnostic imaging modalities offers improved therapy and assessment of cardiovascular diseases is also expected to drive the demand of the angiography devices market during the forecast period. Growing scope of application and technological advancement are some of the major factors that are projected to drive growth in the angiography devices market. Also, the rise in investments in the healthcare industry, growing elderly population, and increasing incidence of cardiovascular diseases (CVDs) are other growth enablers that create opportunities for the manufacturers of angiography devices to offer innovative products and services and gain huge market share. According to the WHO, in 2016, around 75% of the deaths were caused due to cardiovascular diseases (CVD) in developing countries due to the lack of accessibility to healthcare programs for initial detection of diseases for proper treatment. It is stated by WHO that cardiovascular disease are one of the important reasons for death in developed countries such as the U.S. and UK. Additionally, the rise in awareness and related risk factors are projected to drive the angiography devices market. Coronary artery disease (CAD) is the main reason behind the maximum number of deaths and ill health. Therefore, the initiatives by WHO and state governments are helping to spread the awareness related to heart diseases and the primary reasons which is one of the factors that is expected to contribute to the growth of angiography devices market.
North America is projected to lead the position in the global angiography devices market during the forecast period. Also, developing countries such as China and Brazil distribute medical devices from the U.S. due to the high quality of devices. Moreover, the favorable government regulations in developing countries of the Asia Pacific region is expected to expand at a rapid CAGR during the forecast period. Some of the companies are investing in research and development activities in order to expand their product offerings. For instance, the compensation policy in Japan boosts the local device manufacturers to offer innovative angiography diagnostic devices. For instance, in 2018, Shimadzu Corp. Launched different models of minimally invasive angiography system. Similarly, in 2017, Medtronic Inc. announced the launch of DxTerity diagnostic angiography catheter line in its catheter collection.
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.
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Some of the prominent vendors 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, and B. Braun Melsungen AG, etc. North America region is expected to lead the global angiography devices market due to the growing elderly population and the incidence of cardiovascular diseases. Also, the huge presence of major players in the U.S. is attributed to the maximum share of the angiography devices market. Companies such as GE Healthcare, Boston Scientific Corporation, AngioDynamics, Philips Healthcare, and Abbott Laboratories etc, are the major angiography devices manufacturers based in U.S. Moreover, the Europe region is also expected to witness substantial growth during the forecast period owing to the presence of a majority of local and overseas manufacturers.
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