The angiography equipment market is projected to reach USD 13.06 Billion by 2023 from USD 10.26 Billion in 2018, at a CAGR of 5.0%.
Drivers
1 Growth in Aging Population and Incidence of CVD
2 Growing Awareness Programs, Conferences, and Funding Activities
3 Growing Demand for Interventional Angiography Systems in Minimally Invasive Surgeries
Restraints
1 Limitations in Reimbursement for Angiography Procedures
2 Risk of Radiation Exposure
Opportunities
1 Emerging Markets
2 Technological Advancements
Based on product, angiography systems dominated the market in 2017. The large share can be attributed to factors such as technological advancements in angiography devices, increasing number of patients with cardiovascular diseases and other chronic disorders, and growing number of angiography procedures across the globe.
In 2017, Europe dominated the global market. The large share of the European market can be attributed to factors such as the high prevalence of diseases such as cancer and CVD, the faster and easier product approval process in the region, the large number of ongoing research activities, growing government and public-private investments, increasing number of awareness programs, and rising adoption of angiography devices due to a large number of angiography procedures performed in European countries.
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Market Key Players:
Although there are numerous players offering angiography devices, some of the prominent players in this market are GE Healthcare (US), Koninklijke Philips N.V. (Netherlands), Siemens Healthineers (Germany), Canon Corporation (Japan), Shimadzu Corporation (Japan), Boston Scientific Corporation (US), Cordis Corporation (US), Medtronic, Inc. (US), AngioDynamics (US), B. Braun Melsungen (Germany), and Abbott Laboratories (US).