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The angiography devices market is expected to grow at a CAGR of 4.5%. The angiography devices market is expected to witness a robust growth due to the high prevalence of cardiovascular diseases, increasing product approvals for advanced angiography techniques, 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 across the globe.
Rising Incidence of Cardiovascular Diseases Boosts the Growth of Angiography Devices Market
The cardiovascular diseases have become the leading cause of premature death that includes heart attacks, strokes, and other circulatory diseases. Cardiovascular disease is accounting for 17.3 million deaths per year, and this number that is expected to grow by more than 23.6 million by 2030. According to the World Health Organization, approximately 17.7 million people have died from the cardiovascular diseases in 2015, representing 31% of all global deaths. Of these deaths, an estimated 7.4 million were due to coronary heart disease and 6.7 million were due to stroke. Hence, the increasing number of cardiovascular diseases drives the demand for the angiography devices that ultimately helps in the growth of the angiography devices market.
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The other driving factors also include the awareness programs which will likely propel the digital angiography devices market, significant product launches and the rising number of non-coronary angiography procedures.
Risks Associated with Angiography Procedures is Likely to Restrain the Growth of Angiography Devices Market
Angiography is generally considered a very safe procedure, but there are some minor side effects that are common and possess a risk of serious complications. The potential risks and complications include heart attack, stroke, kidney damage, excess bleeding, some sort of infections etc. which contributes to restraining the angiography devices market.
The other factors also include the significant product recalls.
Europe Dominates the Angiography Devices Market
Europe is expected to dominate the global angiography equipment market in the upcoming years. The large share of the European region can be attributed to the high prevalence of cardiovascular diseases, the faster product approval procedures, the large number of ongoing research activities, the growing government investments and rising adoption of the angiography devices due to a large number of angiography procedures performed in European countries. Increasing volume of biotechnology firms, and improving healthcare infrastructure are also contributing to the growth of angiography devices market in the Asia Pacific region.
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Key Developments in the Angiography Devices Market
Apr 2018: The release of Trinias series unity smart edition, an angiography system that supports whole body intravascular treatment, such as, cardiac, neuro, abdominal, and peripheral regions.
Angiography Devices Market Major Players:
Angiodynamics Inc.
Boston Scientific Corporation.
Cordis Corporation.
GE Healthcare.
Philips N.V.
Shimadzu Corporation.
Siemens Healthcare.
Reasons to Purchase Angiography Devices Market Report
Analyzing various perspectives of the angiography devices market with the help of Porter’s five forces analysis
The segment that is expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
Identify the latest developments, market shares and strategies employed by the major market players
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