The angiography devices market is expected to reach $27.7 billion at a healthy CAGR of 4.4% from 2014 to 2019. The growing demand of innovative digital flat-panel detectors, CT & MRA devices and launch of new products based on innovative technology, increasing aging population and prevalence of disease and rising awareness about the benefits of early diagnosis and treatment of cardiovascular diseases are the major factors driving the growth of the angiography devices market.
The angiography devices market is witnessing a gradual shift towards the magnetic resonance imaging from conventional x-ray angiography for diagnostics. Such products offer vascular imaging through noninvasive method with the help of magnetic fields and radio waves, completely eliminating the risk of X-ray exposure to patients and physicians. However, the high costs of angiography systems, and the lack of reimbursement are some of the major factors that could hinder the growth of this market to a certain extent.
Growth in this market is attributed to the rising demand for exact diagnosis & treatment of cardiovascular disease, advancement in technology, and new product launches.
The global angiography devices market is segmented by technology, product, application, procedure, indication, end users, and region. It also discusses the key market drivers, restraints, opportunities, and challenges of this market and its submarkets. The market, by-products, is segmented into angiography systems, catheters, guide-wires, balloons, contrast media, vascular closure devices, and accessories.
North America, a major market for global angiography devices, occupied a major share in this market, closely followed by Europe. However, emerging countries from Asia and the Rest of the World (Latin America) are expected to record strong growth during the forecast period. Countries like India, China, and Brazil will majorly drive market growth, owing to rising investments by public & private players to provide improved healthcare services in these countries, the presence of a large patient population, and the focus of leading players on capturing growth opportunities in these markets.
Major players in the angiography devices market are Siemens Healthcare (Germany), GE Healthcare (U.K.), Toshiba Medical Systems Corporation (Japan), Shimadzu Corporation (Japan), Royal Philips Electronics (Netherlands), St. Jude Medical, Inc. (U.S.), and Abbott Vascular (Abbott Laboratories) (U.S.).
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