Angiography is an imaging procedure which provides visualization of blood vessel to detect narrow, blocked, enlarged arteries or veins in the body. Local or general anesthesia has been given to the patient during angiography procedure. This procedure uses various imaging technologies such as, Magnetic Resonance Imaging, Computed Tomography, X-ray and others. The superior quality of angiography imaging over conventional techniques is increasing the adoption of angiography devices especially for heart related disorders. The MRI and CT angiography devices would be the most prominent products in this market owing to its efficacy, minimal side effects and short duration in terms of outcome. Commercialization of high end imaging technologies and increasing affordability of patients has increases the scope of hybrid angiography devices, in developed region. The demand for angiography devices in developing region would get reduced owing to its relatively saturated market situation. This market would be further driven by replacement of old devices.
Angiography Devices Market: Drivers and Restraints
Increasing CVD incidences, growing number of geriatric population, dysfunctional lifestyle, growing demand for sophistication diagnostic procedures are driving the growth of angiography devices market, globally. Also, the rising awareness for cardiovascular disease diagnosis and treatment, favorable government regulation to commercialize angiography devices are the additional factors fueling the growth of angiography devices market. However, the high cost angiography devices, lack of reimbursement, and unaffordability across emerging economies are some of the factors impeding the market growth. However, the companies operating in this market are actively focusing on the commercialization of low cost system to grab the highest market share in emerging economies.
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Angiography Devices Market: Segmentation
The global angiography devices market is segmented based on, device, product type, application, procedures, end use and indication.
Based on devices, the global angiography devices market is segmented into the following:
- Magnetic Resonance Angiography (MRA)
- Computed Tomography Angiography (CTA)
- Conventional Angiography
Based on procedure, the global angiography devices market is segmented into the following:
- Coronary Angiography
- Pulmonary Angiography
- Cerebral Angiography
- Extremity Angiography
- Renal Angiography
Based on end users, the global angiography devices market is segmented into the following:
- Hospitals and Surgical Centers
- Diagnostics Centers
- Academic and Research Institutes
Based on indication, the global angiography devices market is segmented into the following:
- Coronary Artery Disease (CAD)
- Congenital Heart Disease
- Congestive Heart Failure
- Kidney Disorders
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Angiography Devices Market: Overview
By device, the angiography device market was dominated by more advanced technologies such as MRI and CT, owing to their high efficiency over conventional technologies. Recently launched, Real-time 3D echocardiography by Siemens Healthcare is one of the key development in angiography devices market, which is used to diagnose various heart and coronary conditions. By procedure, coronary angiography and pulmonary angiography are the dominating procedure, owing to its high prevalence. By end-users, hospitals and surgical centers hold promising share, followed by diagnostic centers. This is due to premium pricing of angiography devices, which is unaffordable for the medium scale diagnostic centers. By disease indication, Coronary Artery Disease (CAD) is the leading segment due to its high incidence and absence of alternative diagnostic technique.
Angiography Devices Market: Region-wise Outlook
North America was the lading region for angiography devices in terms of revenue in 2015, followed by Europe. Increasing incidence of coronary disorder owing to dysfunction lifestyle is the prime factor driving the growth of angiography device market in these region. However, the similar kind of trend is now shifting towards emerging economies which is expected to create notable growth opportunity for the angiography device during the forecast period.
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Angiography Devices Market: Key Players
Leading players operating in angiography devices includes, Shimadzu Corporation, Royal Philips Electronics, Siemens Healthcare, GE Healthcare, Toshiba Medical System Corporation, Shimadzu Corporation, St. Jude Medical, Inc., Toshiba Medical Systems Corporation, Cordis Corporation, Medtronic, Inc., and Abbott Vascular (Abbott Laboratories). Companies operating in this market are seeking for novel product to gain core competencies in the market. These companies are also conducting collaborative studies with the clinical research institutes to sustain their market position.