Global coronary angiography devices market: Drivers & Trends

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.

The factors behind the growth of global coronary angiography devices market are accounted as technological advancements in angiography devices, hovering awareness for diagnosis of heart diseases, and growing fondness for invasive procedures with improved medical imaging. These all are likely to contribute mainly to market growth in the years to come. Even the increasing research & development activities along with the continuous launch of products by leading market players might also enhance the global coronary angiography devices market growth during the forecast period.

Apart from the above factors, some more such as increasing cases of blockages in blood vessels in non-coronary diseases is also expected to drive the demand in the angiography devices market profoundly. In addition to that, a growing percentage of people with obesity, globally and government subsidies to increase the ubiquity of essential medical equipment are some of the other vital factors augmenting the demand in the global coronary angiography devices market.

Market Insights

The global coronary angiography devices market is continually rising, mainly due to the rising prevalence of cardiovascular and coronary diseases. Reasons behind the steadily increasing cases of cardiovascular diseases are the adoption of a sedentary lifestyle and environmental changes. There are many novel procedures and devices available to treat the diseases. The drastic increase in the number of angiography procedures performed every year is creating a huge market demand.Additionally, factors such as the rising healthcare expenditures, advancing techniques benefitting in early diagnosis & treatments act as significant growth propellers.Conversely, significant growth impeding factors of the market include the high cost of coronary angiography and limitations in reimbursement for angiographic surgeries in some developing economies. Nevertheless, the improving economic conditions would support the market growth over the assessment period, increasing the access to the quality care and per-capita healthcare expenses.

Thus, this is flourishing the global Coronary Angiography Devices Market size to a great extent and paving ways for more opportunities to enter the market in the years to come.With increasing technological advancements, coronary angiography devices have evolved significantly over the past few years. These betterments have brought some of the considerably improved outcomes, which, in turn, drives the market growth, increasing the adoption of these devices. Also, there is a noteworthy increase in the awareness of the availability of effective treatments for cardiovascular disorders, which accelerates the growth of the market.

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 Segmentation

According to MRFR, the global coronary angiography devices market has been segmented based on the product, devices, procedures, technology, indication, application, and end-user.

By product, the market is categorized as angiography systems, angiography catheters, angiography contrast media, Vascular Closure Devices (VCDs), angiography balloons, angiography Guidewires, and angiography accessories.

By devices, the market is segmented into Magnetic Resonance Angiography (MRA), Computed Tomography Angiography (CTA), conventional angiography, Digital Subtraction Angiography (DSA), Catheter angiography, coronary angiography, and others.

By procedure, the market is segmented as coronary angiography, endovascular angiography, peripheral vascular angiography, and other angiography procedures.

By technology, the market is segmented into X-ray angiography, CT angiography, MR angiography, and other angiography technologies.

By indication, the market is segmented into coronary artery disease, valvular heart disease, congenital heart disease, congestive heart failure, and other signs.

By application is segmented into diagnostics and therapeutics.

By end-user, the market is segmented into hospitals and clinics, diagnostic and imaging centers, and research institutes.

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 Regional Analysis

Geographically, the market has been segmented into America, Europe, Asia Pacific, and the Middle East & Africa.

Among all, the Americas are likely to lead the global coronary angiography devices market owing to the well-established healthcare sector, increasing the existence of cardiovascular diseases and the accessibility of progressive technology. As per the American Heart Association data, in 2017, nearly 92.1 million American population are existing with some cardiovascular disease or the after-effects of stroke. Moreover, growing geriatric population, awareness about the benefits of early diagnosis, and treatment of heart disorder have driven the market growth in this region. As per the Population Reference Bureau, the number of Americans old over 65 is predictable to double from 46 million in 2014 to over 98 million by 2060.

Similarly, Europe is likely to hold the second position in the global coronary angiography devices market owing to the rising demand for medical diagnostic techniques and increasing occurrence of cardiovascular diseases are expected to drive the market towards positive notions. As per the European Cardiovascular Diseases Statistics, in 2015, an estimate of 85 million people was living with cardiovascular diseases in Europe and around 49 million people with the condition in the European Union.

Moreover, the Asia Pacific is accounted to be the fastest mounting region in the market owing to the massive patient population with heart diseases and rising geriatric population. According to WHO, 2015, Asia's elderly population is probable to reach closely 923 million by 2050. Moreover, the participation of the government for the upgrading of the healthcare sector in India and Japan are likely to contribute to market growth

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