Angiography Equipment Market: Technological Advancements and Market Projection
The report Angiography Equipment Market is projected to reach USD 16.00 billion by 2027 from USD 10.74 billion in 2019, at a CAGR of 5.1%. Market growth can largely be attributed to factors such as technological advancements in angiography devices, the increasing number of patients with cardiovascular diseases & other chronic disorders, and the growing number of angiography procedures performed across the globe.
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By
product, the angiography equipment market is segmented intoangiography
systems, catheters, guidewires, balloons, contrast media, vascular
closure devices, and accessories The angiography catheters segment is
expected to grow at the highest CAGR during the forecast period. Growth
in this market can be attributed to the growing importance of cardiac
care and the increasing demand for MIS. The introduction of new products
such as catheters with high flexibility and trackability, multi-purpose
angiography and angioplasty catheters, and catheters attached with
guidewires is also expected to drive market growth during the forecast
period.
By type of procedure, the neuroangiography segment is
expected to register the highest CAGR during the forecast period. This
growth can be attributed to the increasing number of patients suffering
from neurovascular diseases and the growing aging population. Moreover,
with the growing prevalence of stroke, the demand for accurate treatment
of diseases is expected to increase in the coming years. This, in turn,
will increase the demand for angiography devices used for neurology
procedures across the globe.
Based on end user, the global
angiography equipment market is segmented into hospitals & clinics,
diagnostic & imaging centers, and research institutes. The hospitals
& clinics segment accounted for the largest share of the
angiography devices market. The large share of this segment can be
attributed to the large number of patient pool diagnosed and treated at
hospitals, the high purchasing capacity of hospitals for advanced
technologies, rising number of diagnostic and therapeutic angiographic
procedures, and growing awareness on timely disease diagnosis.
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The Latin American region is expected to register the highest growth rate in the global angiography equipment market
during the forecast period. The high CAGR of this region in this market
is attributed to the rising incidence of cardiovascular disorders in
this region, the rapidly increasing geriatric population in Latin
American countries (particularly in Brazil and Mexico), and supportive
government regulations are expected to drive the market for angiography
devices in this region during the forecast period. Moreover, emerging
markets have a high potential for growth in the angiography equipment
market mainly due to the rising medical tourism, rising government
investments and reforms to modernize healthcare infrastructure, and
growing purchasing power of consumers.
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