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Angiography Devices Market Global Opportunity Analysis and Industry Forecast to 2024 by AngioDynamics , Boston Scientific Corporation, Canon Corporation, Cordis Corporation, GE Healthcare, Medtronic PLC, Philips NV, Shimadzu Corporation

05-16-2019 06:00 PM CET | Health & Medicine

Press release from: Market Prognosis

The angiography devices market is expected to register a CAGR of 4.7% during the forecast period. The increasing incidence of cardiovascular diseases and the growing geriatric population are the most significant factors driving the growth of the angiography devices market.

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The cardiovascular diseases which include heart attacks, strokes, and other circulatory diseases have become the leading cause of premature death. According to the World Health Organization, cardiovascular diseases account for nearly 17.3 million deaths per year, and this number is expected to grow to more than 23.6 million by 2030. In 2015, approximately 17.7 million people died from cardiovascular diseases, CVD related deaths represented 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 is driving the demand for angiography devices, which ultimately results in the growth of the angiography devices market. Furthermore, other factors, such as rapid technological advances, increasing awareness of the population, and the high preference of minimally invasive procedures are also supplementing the market growth.

Top Players:
The angiography devices market is consolidated and is highly competitive. A few global players dominate the market and this is primarily due to the stringent product approval process along with the need for significant technological capabilities. The key market players include AngioDynamics Inc., Boston Scientific Corporation, Canon Corporation, Cordis Corporation, GE Healthcare, Medtronic PLC, Philips NV, Shimadzu Corporation, Siemens Healthineers, and Terumo Corporation, among others.

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Scope of the Report
The angiography devices covered in the market includes all modalities, including equipment and consumables used during the angiographic procedures. Angiography systems utilizing various technologies, such as MRI, CT, and X-ray are covered in the report along with consumables and equipment, such as catheters, guidewires, contrast media, and incision closure devices, among others.

On the basis of End Users, the Hospital Segment Dominates The Overall Angiography Devices Market.
The factors attributing to the dominance of the hospital segment are the availability of the larger patient pool, high resource availability, high penetration in diverse geographical locations, availability of accompanying healthcare infrastructure and procedures, availability of skilled labor, and affordability via government funding. The high accessibility and affordability of hospitals as compared to the specialty clinics attract a large patient population. The profitability index of the hospitals also increases as they gain benefit from the bulk purchase discounts and trade agreements with the manufacturers and suppliers. Furthermore, these trade agreements open new avenues to timely upgradation and early access to technologically advanced products by the manufacturers, enhancing the hospital’s treatment capability.

North America to Dominate the Market
North America dominates the angiography devices market, owing to the high adoption rate of minimally invasive procedures, availability of reimbursements, rising geriatric population, and high replacement rates of medical equipment. In the angiography market, Europe is the second largest market after North America. The significant share of the European countries can be attributed to the high prevalence of cardiovascular diseases, high government investments, the faster product approval procedures, and rising adoption of the angiography devices due to a large number of angiography screening procedures being performed.

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About Market Prognosis
We at Market Prognosis believe in giving a crystal clear view of market dynamics for achieving success in today’s complex and competitive marketplace through our quantitative & qualitative research methods.
We help our clients identify the best market insights and analysis required for their business thus enabling them to take strategic and intelligent decision.
We believe in delivering actionable insights for your business growth and success.

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