Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Angiography Devices Market (By Product: Catheters, Contrast Media, Angiography Systems, Balloons, Vascular Closure Devices, Angiography Accessories; By Technology: MRA, CT, X-Ray; By Procedure: Endovascular, Coronary, Neurovascular; By Application: Therapeutic, Diagnostic) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026”.
LOS ANGELES, March 27, 2019 (GLOBE NEWSWIRE) -- The global angiography devices market size is anticipated to around USD 16.1 billion by 2026, this market is anticipated to grow with 6.3% CAGR during the forecast time period. The rise in accessibility of less-invasive imaging modalities is expected to drive the growth of the global angiography devices market.
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The rise in the elderly population, an increase in the scope of application, and technological advancements are some of the major factors driving the growth of angiography devices market. However, the high cost of angiography devices systems hampers the market growth. Continuous developments in imaging technology have supported the improved diagnosis of cardiovascular disease. The imaging ability has witnessed a shift from single to multislice CT that offers exceptional meditation and assessment of coronary artery disease. There are wide ranges of opportunities available for the diagnosis of CAD which includes coronary CT angiography, and cardiac Single Photon Emission Computed Tomography (SPECT), cardiac Magnetic Resonance Imaging (MRI), and Positron Emission Tomography (PET) and integrated SPECT/CT and others. Increasing incidence of coronary artery disease and accessibility of less-invasive imaging modalities are increasing the demand for coronary angiography devices in developing countries such as India and China. Also, the device manufacturers are investing heavily on the development of innovative technologies, which is estimated to drive the growth of angiography devices market. The rising need for decreasing the radiation dose, enhancement in image quality, and developing catheter lab trends are the major growth enablers of angiography devices market.
Also, MRA segment is anticipated to be one of the fastest growing technology due to its advantage of minor exposure to the radiation in the heart disease treatment. MRA also provides 3D abilities to obtain images in any structural plane with outstanding soft tissue dissimilarity. The development of 3.0T MR imaging has considerably improved the diagnosis of coronary artery disease. These factors are also expected to boost the growth of overall angiography devices market.
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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.
Asia Pacific region is anticipated to witness higher CAGR in the global angiography devices market during the forecast period. Favorable compensation policies of the Japanese government encouraging technological innovation are supporting the growth of angiography devices market in the Asia Pacific region. There are favorable regulatory policies in developing countries such as India, South Korea, and Brazil, that offers attractive growth opportunities for the global device manufacturers to expand their market footprints globally. China is undertaking an association for the improvement and quality of medical equipment. Increasing import from the major market players such as Siemens Healthcare, GE Healthcare, and Koninklijke Philips N.V. is stimulating the growth of the angiography market in China.
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North America region is expected to hold major share and is expected to grow significantly owing to the increase in the elderly population and the occurrence of cardiovascular disease. Also, the presence of major players in the U.S. is attributed to holding a major share of the overall market. Europe region is also predicted to witness significant growth during the forecast period due to the existence of the majority of local and global manufacturers. Rising demand for innovative medical devices and incidence of CVD are estimated to fuel the demand for angiography devices in the European region.
Some of the prominent players 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. Important strategic initiatives undertaken by global manufacturers include partnerships, product launch, acquisitions, and mergers.The R&D investments coupled with advanced imaging technologies to offer innovative products are projected to offer vast growth opportunities for to the market players.
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