Angiography Device Market Insights: Size, Share, Growth Analysis & Forecast (2024-2029)
The report covers a comprehensive analysis segmented by Product (Angiography Systems, Catheters, Guidewires, Ballons, Contrast Media Vascular Closure devices, Angiography accessories), By Technology (X-ray angiography, CT Angiography, MR Angiography), By Application (Diagnostic, Therapeutics), By End User (Hospitals, Diagnostic Centers, Ambulatory Surgical Centers), By Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa).
Angiography Device Market Snapshot
Market Overview
Angiography Device Market Overview
The market for angiography devices is projected to grow from $13.55 billion in 2024 to $18.41 billion in 2029. The market for angiography devices is expected to grow at a compound annual growth rate (CAGR) of 6.32% between 2024 and 2029.
Global demand for minimally invasive procedures, the rising prevalence of cardiovascular disorders, and technological developments are driving the continuous expansion of the angiography device market. To diagnose and treat cardiovascular diseases such as coronary artery disease, peripheral artery disease, and congenital heart defects, angiography devices are vital medical equipment. Technological advancements like digital imaging, 3D reconstruction, and artificial intelligence integration have improved the accuracy and efficiency of angiography treatments. These developments improve patient outcomes by enabling medical professionals to acquire richly detailed blood vessel images and more precisely direct minimally invasive procedures.
The market is characterized by fierce rivalry, with major firms concentrating on developing new products, forming strategic alliances, and expanding their geographic reach to obtain a competitive advantage. Furthermore, collaborations for clinical trials and product validation with medical facilities and academic institutions are growing more typical. However, obstacles to market expansion include things like expensive prices, strict regulations, restricted access to healthcare, and the rise of alternative diagnostic technology. Initiatives to lower costs, expedite regulatory procedures, upgrade healthcare infrastructure, and improve patient education and awareness are some of the ways that these difficulties are being addressed.
Geographically, the market for angiography devices is dominated by North America and Europe because of their developed healthcare systems, elevated levels of healthcare spending, and advances in technology. However, due to rising cardiovascular disease rates, bettering healthcare systems, and rising use of innovative medical technologies in countries like China, India, and Japan, Asia-Pacific is predicted to experience substantial growth in the years to come.
Market Coverage
​​​Angiography Device Market Coverage
| Historical & Forecast Period | 2018-2029 |
| Base Year | 2023 |
| Forecast Period | 2024-2029 |
| Units | Billion US$ |
| Segments | By Product, By Technology, Application, End User |
| Geographies | North America, South America, Asia Pacific, Europe, The Middle East, Africa |
| Key Vendors | GE Healthcare Technologies Inc., Koninklijke Philips N.V., Siemens Healthiness AG, Canon Inc., Cordis. |
Key Geographies of Angiography Device Market, 2023
Porter’s 5 Forces Analysis of Angiography Device Market
Market Trends
Angiography Device Market Trends
Over the past few years, the market for angiography devices has grown significantly, and this trend is expected to continue. Angiography devices are an essential part of today’s healthcare environments since they are critical diagnostic and therapeutic tools for cardiovascular illnesses. Technological advancements are one prominent trend propelling market expansion. Producers are continuously producing new and improved angiography instruments. Digital angiography devices, 3D imaging capabilities, and the use of artificial intelligence for better diagnosis and treatment planning are some examples of these improvements.
Globally, cardiovascular disease prevalence is rising, which is another significant trend. The need for angiography operations is increasing because of an aging population that is rising faster than ever before and lifestyle changes that cause risk factors including obesity and hypertension. This tendency is especially noticeable in developing nations where there is an improvement in the healthcare infrastructure, making modern medical procedures more accessible. Moreover, less invasive techniques are becoming increasingly popular. Minimally invasive procedures are becoming more popular among patients and medical professionals because of their quicker recovery rates, less chance of problems, and shorter hospital stays.
The need for angiography tools like catheters and guidewires, which facilitate these treatments, is being driven by this choice. Market participants are also concentrating on strategic alliances, mergers, and acquisitions to broaden their product offerings and reach new markets. Through these alliances, businesses can take advantage of one another’s assets and strengths, fostering innovation and market penetration. Given the circumstances, the market for angiography devices is expected to develop in the future due to advancements in technology, a rise in the prevalence of diseases, the desire for less intrusive procedures, and industrial partnerships.
Angiography Device Market Driving Factors
One of the main factors propelling the market for angiography devices is the increased incidence of cardiovascular disorders worldwide. A growing number of people are suffering from cardiovascular ailments, which makes the use of angiography devices for diagnosis and treatment necessary. These factors include aging populations, sedentary lifestyles, and dietary choices. The market is growing because of ongoing innovation in angiography equipment technology. Technological developments like digital imaging, three-dimensional reconstruction, and better catheter designs increase the accuracy and efficiency of angiography treatments, which increases market potential.
Patients and healthcare professionals alike are increasingly choosing minimally invasive procedures because of their advantages, which include shorter recovery periods and a decreased chance of problems. The market demand for angiography equipment is fueled by their critical role in enabling minimally invasive therapies. Reimbursement policies and healthcare financing mechanisms influence the adoption of angiography devices. Favorable reimbursement policies for angiography procedures encourage healthcare facilities to invest in advanced angiography devices, thereby bolstering market growth.
Market expansion is aided by the general rise in healthcare spending, especially in developing nations. Both public and private healthcare organizations invest a large amount of money in modernizing the healthcare system, which includes purchasing innovative medical equipment like angiography systems. These factors work together to propel technical innovation, raise the uptake of minimally invasive procedures, and provide access to innovative cardiovascular care on a worldwide scale, all of which support the growth of the market for angiography devices.
Market Challenges
Angiography Device Market Challenges
Because angiography equipment is expensive and has sophisticated technology, it is not available to healthcare facilities with tight budgets, especially in poor nations. Strict legal restrictions for angiography device clearance and commercialization can prevent new products from entering the market and raise development expenses for producers. The limited adoption of angiography treatments due to inadequate healthcare infrastructure and restricted access to specialist medical facilities in remote and rural areas restrains market expansion.
The market for angiography devices is challenged by developments in non-invasive imaging technologies like CT and MRI scans, which provide non-invasive alternatives for the diagnosis of cardiovascular disorders. Ionizing radiation is used during angiography operations, which puts patients and medical personnel at risk. Radiation exposure worries could affect how well patients accept and use angiography treatments. Stakeholders must work together to create safer imaging technologies, lower costs, strengthen healthcare infrastructure, improve regulatory procedures, and raise public awareness to address these issues.
Key Industry News
Angiography Device Market – Key Industry News
- In January 2024, Cook Medical Relaunched a Hydrophilic angiographic catheter in the US and Canada.
- In August 2023, Philips issued radiation warning for fluoroscopy and angiography systems.
- In February 2023, According to Global Data’s Technology Foresights, which uses over 550,000 patents to analyze innovation intensity for the medical devices industry, there are 150+ innovation areas that will shape the future of the industry.
Competitive Landscape
Angiography Device Market Competitive Landscape
The global Angiography Device Market is highly competitive and is marked by the presence of many prominent players competing for a larger market share. Market dynamics are influenced by factors such as product portfolio diversification, strategic collaborations, and geographical expansion. Additionally, advancements in minimally invasive techniques and the growing prevalence of cardiovascular diseases drive market growth, intensifying competition further. Overall, the market presents a dynamic landscape with continuous innovation and strategic maneuvers among key industry participants. The participants in the global angiography device industry are always developing their strategies to preserve a competitive advantage.
Companies primarily use acquisitions, R&D, partnerships, and technological launches. Several important entities in the angiography device market include GE HealthCare Technologies Inc., Koninklijke Philips N.V., Siemens Healthiness AG, Canon Inc., Cordis., and others.
Angiography Device Market Company Share Analysis, 2023 (%)
Angiography Device Market – Key Companies
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Table of Content
Table of Contents
| 1. Introduction |
| 1.1. Research Methodology |
| 1.2. Scope of the Study |
| 2. Market Overview / Executive Summary |
| 2.1. Global Angiography Device Market (2018 – 2022) |
| 2.2. Global Angiography Device Market (2023 – 2029) |
| 3. Market Segmentation |
| 3.1. Global Angiography Device Market by By Product |
| 3.1.1. Angiography Systems |
| 3.1.2. Catheters |
| 3.1.3. Guidewire |
| 3.1.4. Ballons |
| 3.1.5. Contrast media |
| 3.1.6. Vascular Closure devices |
| 3.1.7. Angiography accessories |
| 3.2. Global Angiography Device Market by Technology |
| 3.2.1. X- Ray Angiography |
| 3.2.2. CT Angiography |
| 3.2.3. MR Angiography |
| 3.3. Global Angiography Device Market by Application |
| 3.3.1. Diagnostic |
| 3.3.2. Therapeutics |
| 3.4. Global Angiography Device Market by End User |
| 3.4.1. Hospitals |
| 3.4.2. Diagnostic Centre’s |
| 3.4.3. Ambulatory Surgical Centres |
| 4. Regional Segmentation |
| 4.1. North America |
| 4.1.1. The U.S |
| 4.1.2. Canada |
| 4.1.3. Mexico |
| 4.2. South America |
| 4.2.1. Brazil |
| 4.2.2. Argentina |
| 4.2.3. Colombia |
| 4.2.4. Chile |
| 4.2.5. Rest of South America |
| 4.3. Asia Pacific |
| 4.3.1. China |
| 4.3.2. India |
| 4.3.3. Japan |
| 4.3.4. South Korea |
| 4.3.5. Rest of Asia Pacific |
| 4.4. Europe |
| 4.4.1. UK |
| 4.4.2. Germany |
| 4.4.3. Italy |
| 4.4.4. France |
| 4.4.5. Spain |
| 4.4.6. Rest of Europe |
| 4.5. The Middle East |
| 4.5.1. Turkey |
| 4.5.2. UAE |
| 4.5.3. Saudi Arabia |
| 4.5.4. Rest of the Middle East |
| 4.6. Africa |
| 4.6.1. Egypt |
| 4.6.2. South Africa |
| 4.6.3. Rest of Africa |
| 5. Value Chain Analysis of the Global Angiography Device Market |
| 6. Porter Five Forces Analysis |
| 6.1. Threats of New Entrants |
| 6.2. Threats of Substitutes |
| 6.3. Bargaining Power of Buyers |
| 6.4. Bargaining Power of Suppliers |
| 6.5. Competition in the Industry |
| 7. Trends, Drivers and Challenges Analysis |
| 7.1. Market Trends |
| 7.1.1. Market Trend 1 |
| 7.1.2. Market Trend 2 |
| 7.1.3. Market Trend 3 |
| 7.1.4. Market Trend 4 |
| 7.1.5. Market Trend 5 |
| 7.2. Market Drivers |
| 7.2.1. Market Driver 1 |
| 7.2.2. Market Driver 2 |
| 7.2.3. Market Driver 3 |
| 7.2.4. Market Driver 4 |
| 7.2.5. Market Driver 5 |
| 7.3. Market Challenges |
| 7.3.1. Market Challenge 1 |
| 7.3.2. Market Challenge 2 |
| 7.3.3. Market Challenge 3 |
| 7.3.4. Market Challenge 4 |
| 7.3.5. Market Challenge 5 |
| 8. Regulatory Landscape |
| 9. Competitive Landscape |
| 9.1. GE HealthCare Technologies Inc. |
| 9.2. Koninklijke Philips N.V. |
| 9.3. Siemens Healthineers AG |
| 9.4. Canon Inc. |
| 9.5. Cordis. |
| 9.6. Company 6 |
| 9.7. Company 7 |
| 9.8. Company 8 |
| 9.9. Company 9 |
| 9.10. Company 10 |
Frequently Asked Questions (FAQs)
Angiography Device Market – Frequently Asked Questions (FAQs)
What is the current size of the global angiography device market?
The market size for the global angiography device market in 2024 is $13.55 Bn.
Who are the major vendors in the global angiography device market?
The major vendors in the global angiography device market are GE HealthCare Technologies Inc., Koninklijke Philips N.V., Siemens Healthineers AG, Canon Inc., Cordis.
Which segments are covered under the global angiography device market segments analysis?
This report offers in-depth insights into each by product, by technology, application, end user.