As per the report published by Fior Markets, the global angiography equipment market is anticipated to grow with CAGR of 6.42% during the forecast period from 2018-2025. It would increase from USD 9.89 Billion in 2017 to USD 16.31 Billion by 2025. Europe market is expected to witness strong growth in the forecast period due to the 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. 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 making available greater opportunities and major players are continuously focused on new product developments to obtain market share. In March 2017, Koninklijke Philips N.V. has opened Philips Azurion systems. This will eliminate the need for multiple views, imaging systems or screens in the angiography, helping the physician. This has strengthened the position of the company in image-guided therapy solutions in India.
The product segment contains angiography systems, angiography contrast media, vascular closure devices, angiography balloons, angiography catheters, angiography guidewires, and angiography accessories. Angiography systems, which valued around USD 4.84 billion in 2017, governing the market. Development in angiography gadgets and expanding number of patients with cardiovascular illnesses are contributing to the growth of the software segment. Technology segment is classified into X-Ray angiography, Ct angiography, Mr Angiography, and other angiography technologies. Procedure segment includes sub-segments such as coronary angiography, endovascular angiography, neuroangiography, onco-angiography, and other angiography procedures.
Important factors driving the demand of segment include the growth 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. The indication segment is classified into coronary artery disease, valvular heart disease, congenital heart disease, congestive heart failure, and other indications. The application segment contains diagnostics and therapeutics. The end User segment is divided into hospitals & clinics, diagnostic & imaging centers, and research Institutes. In 2017, the hospitals & clinics segment held a market share of 52.37%. The hospitals & clinics segment attributing to a large number of a patient diagnosed and treated at hospitals.
The key factors behind the growth of the market include the demand for accurate diagnosis, the advancement of technologies around the globe in healthcare and preference towards magnetic resonance imaging over conventional methods. The maintenance of device and reimbursement policies is predicted to hinder the growth of the market. However, factors boosting the global angiography equipment market include the introduction of alternative technologies and awareness about the benefits associated with early diagnosis and treatment.
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