As per the report published by Fior Markets, the global angiography equipment market is expected to grow from USD 9.89 Billion in 2017 to USD 16.31 Billion by 2025 at a CAGR of 6.42%during the forecast period from 2018-2025. Europe market is expected to show significant growth in the forecast period. This growth is witnessed due to easier product approval process in the region and increasing usage of angiography procedures.
Global Angiography Equipment Market by Product (Angiography Systems, Angiography Contrast Media, Others), Technology, Procedure, Indication, Application, End User, Region” and Global Forecast 2018-2025.
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Some of the prominent players in the industry include Koninklijke Philips N.V., GE Healthcare, Siemens Healthineers, Boston Scientific Corporation, Canon Corporation, Cordis, B.Braun Melsungen, Abbott Laboratories, Shimadzu Corporation, Medtronic, Angiodynamics and others. The Koninklijke Philips N.V., GE Healthcare, Siemens Healthineers, Boston Scientific Corporation and among others. Developing and developed (U.S, Germany, U.K, China and Japan) are offering greater opportunities and major players are continuously focused on new product developments to obtain market share. In March 2017, Koninklijke Philips N.V. has launched Philips Azurion systems. This will help the physician without having to go to multiple views, imaging systems or screens in the angiography. This has reinforced the position of the company in image-guided therapy solutions in India.
The Product segment is classified into angiography systems, angiography contrast media, vascular closure devices, angiography balloons, angiography catheters, angiography guidewires and angiography accessories. Angiography systems dominated the market and valued around USD 4.84 billion in 2017. Progressions in angiography gadgets and expanding number of patients with cardiovascular illnesses are major contributing factors for the growth of software segment. Technology segment includes X-Ray angiography, Ct angiography, Mr Angiography and other angiography technologies. Procedure segment is divided into segments such as coronary angiography, endovascular angiography, neuroangiography, onco-angiography and other angiography procedures. The increase in the prevalence of coronary heart diseases due to the aging population, growing awareness regarding benefits of early detection, treatment of coronary diseases and technological advancement are the key factors to drive the demand of segment. The indication segment includes coronary artery disease, valvular heart disease, congenital heart disease, congestive heart failure and other indications. The application segment is divided into diagnostics and therapeutics. End User segment includes hospitals & clinics, diagnostic & imaging centres and research Institutes. The hospitals & clinics segment held market share of 52.37% in 2017 owing to large number of patient diagnosed and treated at hospitals.
Demand of accurate diagnosis, advancement of technologies around the global in healthcare and preference towards magnetic resonance imaging over conventional methods are the important factors contributing to the growth. The maintenance of device and reimbursement policies are lowering the diagnosis of cardiovascular diseases which may hamper the growth of market. However, introduction of alternative technologies and awareness about the benefits associated with early diagnosis and treatment are boosting the market in coming years.
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