Angiography is a type of medical imaging technique used to visualize insides of an individual. Its primarily used for checking blood vessels ad their flow in arteries, veins, and heart chambers. Angiography is done by use of radio-opaque contrast agent, which is injected into an individual’s blood stream and the image is produced using X-ray based techniques, primarily by use of X-ray fluoroscopy.
High prevalence coupled with increasing incidence of cardiovascular diseases across the globe are major factors driving growth of the global angiography equipment market. Moreover, favorable government regulations for product approval and use in various developed economies is another factor boosting growth of the global market currently. But, high costs associated with procurement and use of technologically advanced angiography equipment is a major factor hampering growth of the global market.
On the basis of end user, the global angiography equipment market is segmented into hospitals and surgical centers, diagnostics centers, and academic and research institutes. The diagnostic centers segment is anticipated to witness significant growth over the forecast period, and is expected to register a CAGR of X.X%. Also, hospitals and surgical centers segment is projected to witness moderate growth over the forecast period.
The global angiography equipment market report has been segmented on the basis of devices, procedure, indication, end user, and region. On the basis of region, the global angiography equipment market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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The market in Europe accounted for highest share in terms of revenue in the global market, and is projected to maintain its dominance over the forecast period. This can be attributed to easy regulatory approval process for medical equipment and drugs in the region. Moreover, increasing high prevalence of cardiovascular diseases and cancer is another major factor anticipated to propel growth of the Europe market over the forecast period. Revenue from the market in Asia Pacific accounted for second-highest share and is closely followed by the markets in North America, Latin America, and Middle East & Africa respectively. This is attributed to increasing government initiatives for development of proper healthcare infrastructure and high incidence of cardiovascular devices in the region. Furthermore, the market in Asia Pacific is projected to witness significant growth over the forecast period, and is expected to register a CAGR of X.X%. This can be attributed to rising demand for proper medical infrastructure in emerging economies in the region. Also, the markets in Latin America and Middle East & Africa are projected to witness moderate growth over the forecast period.
Prominent players in the global angiography equipment market include GE Healthcare, Koninklijke Philips N.V., Siemens Healthineers, Canon Corporation, Boston Scientific Corporation, Cordis Corporation, Shimadzu Corporation, Medtronic, Plc., AngioDynamics Inc., Braun Melsungen, and Abbott Laboratories.