Angiography Equipment Market Size Worth $16.31 Billion by 2024 | CAGR: 4.8%: Infinium Global Research
Angiography Equipment Market
Infinium Global Research
The Angiography Equipment Market Is Projected to Grow at a CAGR of 4.8% During the Forecast Period to Reach USD 16.31 Billion By 2024
PUNE, MAHARASHTRA, INDIA, September 19, 2019 /EINPresswire.com/ -- According to the new market research report "Angiography Equipment Market1 (Product Type - Angiography Systems, Angiography Contrast Media, Vascular Closure Devices, Angiography Balloons, Angiography Catheters, Angiography Guidewires, and Angiography Accessories; Technology - MRI, CT, X-ray, and others; Application - Renal, Carotid, Cerebral, Peripheral, Aortic, Coronary and Others; End User - Hospitals, Diagnostic Centers, Ambulatory Surgical Centers, and Others): Global Industry Analysis, Trends, Market Size and Forecasts to 2024.” The angiography equipment market is projected to reach approximately USD 16.31 billion by 2024 from USD 11.86 billion in 2017 with a CAGR of 4.8% over the forecast period.
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High Cost of Angiography Equipment, and Low Availability of Skilled Manpower
Growing Occurrence of cardiovascular diseases is one of the major factors driving the growth of the angiography equipment market across the globe. Furthermore, the increase in the geriatric population and the benefits of the technique in early diagnosis and treatment are some other major factors that drive the market growth. However, the high cost of angiography equipment and low availability of skilled manpower are some of the major factors that may hamper the growth of the market. Moreover, increasing awareness regarding the heart-problem among people creates an opportunity for the growth of the global angiography equipment in the next few years.
The Angiography System Segment Holds the Largest Market Share
The global angiography equipment market has been segmented on the basis of product type, technology, application, and end-user. Based on product type, the market is categorized into angiography systems, angiography contrast media, vascular closure devices, angiography balloons, angiography catheters, angiography guidewires, and angiography accessories. Among all, the angiography system segment holds the largest market share in the angiography equipment market. This is primarily due to the increasing incidences of coronary artery disease, growing cases of blockages in the blood vessel in non-coronary diseases. By technology, the global market is divided into MRI, CT, X-ray, and other technologies. X-ray segment is further sub-segmented into image intensifiers and flat-panel digital detectors. In terms of application, the angiography equipment market is bifurcated into the rental, carotid, cerebral, peripheral, aortic, coronary, and other applications. On the basis of end-user, the market is divided into hospitals, diagnostic centers, ambulatory surgical centers, and other end-users.
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Europe Holds the Largest Maximum Market Share
In terms of region, the angiography equipment market is categorized into North America, Europe, Asia Pacific, and the Rest of the World. Among all, Europe holds the largest maximum market share and is expected to dominate the market over the forecast period. This is mainly due to the growing occurrence of diseases such as cancer and cardiovascular diseases in the region. North America holds the second largest market share due to the presence of fully-equipped healthcare infrastructure. Asia Pacific is expected to grow at a faster rate during the forecast period. This is attributed to the huge population and increasing incidence of chronic diseases such as chest pain, veins, and heart chambers, coronary heart disease. Furthermore, growing awareness regarding the use of oxygen therapy device among doctors or physicians, and rise in the demand for diagnostics also fuels the market growth in the Asia Pacific region.
Angiography Equipment Industry: Competitive Overview
The global angiography equipment market is highly competitive in nature. This market is comprising with the players such as GE Healthcare, Koninklijke Philips N.V., Siemens Healthineers, Canon Corporation, Boston Scientific Corporation, Cordis, Shimadzu Corporation, Medtronic, and Angiodynamics.
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1 https://www.infiniumglobalresearch.com/healthcare-medical-devices/global-angiography-equipment-market
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