The Coronary Angiography Devices Market is expected to reach USD 11.96 Billion by 2030 at 6.20% CAGR during the forecast period 2022-2030.
Coronary angiography is a minimally invasive procedure that uses a contrast material and x-rays to study and observe the blood flow through the arteries in the heart. The growing prevalence of cardiovascular diseases, increasing numbers of coronary angiography procedures, and growing geriatric population are major drivers propelling the market growth. For instance, according to the World Health Organization (WHO), in 2015, over 17.7 million people died from cardiovascular diseases, representing 31% of all global deaths. Moreover, increasing research and development and consequent product launches by various prominent players are likely to fuel the market growth during the forecast period. For instance, in February 2017, Medtronic received FDA approval for its DxTerity diagnostic angiography catheter line. Furthermore, increasing number of patients suffering from diabetes and obesity, lead to the increase in the prevalence of cardiovascular diseases which is likely to contribute to the growth of the market.
Despite the drivers, the high cost of coronary angiography and poor reimbursement policies in some developing economies are likely to restrain the market growth.
Market Research Future research is conducted by industry experts who offer insight into industry structure, market segmentation, Treatment assessment, competitive landscape (CL), penetration, as well as on emerging trends. Besides primary interviews (~ 80%) and secondary research (~ 20%), their analysis is based on their years of professional expertise in respective industries. Our analysts also predict where the market will be headed in the next five to ten years, by analyzing historical trends and current market positions. Furthermore, the varying trends of segments & categories geographically presented are studied and are estimated based on primary & secondary research.
The extensive primary research was conducted to gain a deeper insight into the market and the industry performance. In this particular report, we have conducted primary surveys (interviews) with the key level executives (VPs, CEOs, Marketing Directors, Business Development Managers, and many more) of the major players who are active in the market. In addition to analyzing the current and historical trends, our analysts predict where the market is headed, over the next five to ten years.
Secondary research was mainly used to collect and identify information useful for an extensive, technical, market-oriented, and commercial study of the coronary angiography devices market. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, & developments related to the market and Treatment Perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, SEC filings, journals, white papers, corporate presentations, company websites, the international organization of chemical manufacturers, some paid databases and many others
The coronary angiography devices market is segmented on the basis of product, devices, procedures, technology, indication, application, and end-user.
On the basis of product, the market is classified into angiography systems, angiography catheters, angiography contrast media, Vascular Closure Devices (VCDs), angiography balloons, angiography Guidewires, and angiography accessories.
The coronary angiography devices market on the basis of devices is segmented into Magnetic Resonance Angiography (MRA), Computed Tomography Angiography (CTA), conventional angiography, Digital Subtraction Angiography (DSA), Catheter angiography, coronary angiography, and others.
On the basis of the procedure, the market is segmented as coronary angiography, endovascular angiography, peripheral vascular angiography, and other angiography procedures.
On the basis of technology, the market is segmented into X-ray angiography, CT angiography, MR angiography, and other angiography technologies.
On the basis of indication, the coronary angiography devices market is segmented into coronary artery disease, valvular heart disease, congenital heart disease, congestive heart failure, and other indications.
The coronary angiography devices market on the basis of application is segmented into diagnostics and therapeutics.
On the basis of end-user, the market is segmented into hospitals and clinics, diagnostic and imaging centers, and research institutes.
Geographically, the market has been segmented into America, Europe, Asia Pacific, and the Middle East & Africa. The Americas coronary angiography devices market is further segmented into North America, and South America. North America is further classified as the U.S. and Canada.
The Europe coronary angiography devices market is segmented into Western Europe and Eastern Europe. Western Europe is further classified as Germany, France, the U.K., Italy, Spain, and the Rest of Western Europe.
The Asia Pacific coronary angiography devices market is segmented into Japan, China, India, Republic of Korea, Australia, and the Rest of Asia Pacific.
The Middle East & Africa coronary angiography devices market is segmented into the Middle East and Africa.
Regional Market Summary
Coronary Angiography Devices Market, by Region Market Share, 2017 (%)
Source: MRFR Analysis
The Americas are likely to dominate the coronary angiography devices market owing to the well-established healthcare sector, increasing the prevalence of cardiovascular diseases and availability of advanced technology. According to the American Heart Association data, in 2017, about 92.1 million American population are living with some form of cardiovascular disease or the after-effects of stroke. Moreover, increasing geriatric population, growing awareness about benefits of early diagnosis and treatment of heart disorder are has fueled the market growth in this region. For instance, according to the Population Reference Bureau, the number of Americans aged over 65 is projected to be more than double from 46 million in 2014 to over 98 million by 2060.
Europe is likely to hold the second position in the coronary angiography devices market. It is expected that the rising demand for medical diagnostic techniques and increasing prevalence of cardiovascular diseases in this region are likely to drive the market. For instance, according to the European Cardiovascular Diseases Statistics, in 2015, an approximate of 85 million people were living with cardiovascular diseases in Europe and about 49 million people with the disease in the European Union.
Asia Pacific is the fastest growing region in the market owing to the huge patient population with heart diseases and rising geriatric population. For instance, according to the WHO, 2015, Asia's elderly population is projected to reach nearly 923 million by 2050. Moreover, government participation for improvement of the healthcare sector in India and Japan are likely to contribute to the market growth.
The Middle East and Africa account for the lowest market share in the coronary angiography devices market. The Middle East holds the major share in the market in this region owing to a well-developed economy, whereas, African region is expected to grow due to the rising awareness about coronary artery diseases.
Some of the key players in the coronary angiography devices market are Terumo, Boston Scientific Corporation, Canon Medical Systems, Cordis ( A Cardinal Health Company), B. Braun Melsungen AG, Angiodynamics, Abbott Vascular (Abbott Laboratories), Toshiba Medical Systems Corporation, Royal Philips Electronics, GE Healthcare, Medtronic, Inc., Shimadzu Corporation, and Siemens Healthcare.
Coronary Angiography Devices Market, by Product
|Market Size||USD 11.96 Billion|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product, Devices, Procedures, Technology, Indication, Application, and End-user|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Terumo Medical Corporation, Boston Scientific Corporation, Canon Medical Systems, Cordis (A Cardinal Health Company), Braun Melsungen AG, Angiodynamics, Abbott Vascular (Abbott Laboratories), Toshiba Medical Systems Corporation, Royal Philips Electronics, GE Healthcare, Medtronic, Inc., Shimadzu Corporation, Siemens Healthcare|
|Key Market Opportunities||New product launches and R&D Amongst major key Players|
|Key Market Drivers||Increasing number of patients suffering from diabetes and obesity, lead to the increase in the prevalence of cardiovascular diseases|
The coronary angiography devices market can grow with a CAGR of 6.20% during the forecast period of 2022-2030.
The high cost of the procedure and poor reimbursement policies can deter the coronary angiography devices market growth.
Associated industries like diagnostic & imaging centers, hospitals & clinics, and research institutes would drive the global coronary angiography devices market.
The Americas would drive the global coronary angiography devices market growth.
The Asia Pacific market has the opportunity to be the fastest coronary angiography device market.