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Angiography Equipment Market Size, Trends And Growth Report 2033
Angiography Equipment Market Size
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According to The Business Research Company's, The angiography equipment market size has grown strongly in recent years. It will grow from $12.47 billion in 2023 to $13.41 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to rising cardiovascular diseases, minimally invasive procedures, aging population, healthcare infrastructure development, clinical research and development.
The angiography equipment market size is expected to see strong growth in the next few years. It will grow to $17.95 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to integration with hybrid ors, data security and privacy, globalization of healthcare services, patient-centric care, personalized healthcare. Major trends in the forecast period include global healthcare accessibility, remote consultation and training, value-based healthcare models, data security and interoperability, customization and tailored solutions.
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Market Drivers and Trends:
Growing healthcare expenditure is significantly contributing to the growth of the angiography equipment market going forward. The overall increase in healthcare expenditure globally, both by governments and individuals, supports the adoption of advanced medical technologies, including angiography equipment. For instance, according to the June 2023 data released by Centers for Medicare & Medicaid Services (CMS) a US-based Department of Health and Human Services that administers the Medicare program the national health expenditure (NHE) in the United States grew 2.7% to $4.3 trillion in 2021, or $12,914 per person, and accounted for 18.3% of Gross Domestic Product (GDP). Therefore, the growing healthcare expenditure will drive the angiography equipment market.
Product innovation in angiography equipment is a key trend in the angiography equipment market. Major companies operating in the angiography equipment market are focused on developing new innovative solutions to strengthen their position in the market. For instance, in June 2022, Shimadzu Medical Systems, a US-based manufacturer of advanced imaging systems, launched a new angiography system called TriniasTM angiography system. It uses artificial intelligence (AI) deep learning technology while using 40% or lower X-ray doses than previous models. The image-processing engine of an angiography system has never before used AI, hence this is a first. Additionally, the new Trinias system delivers a sizable new feature set to streamline workflow, enabling a more productive clinical operation in any medical facility.
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Major Key Players of the Market:
General Electric Company, Koninklijke Philips N.V., Siemens Healthineers AG, Canon Corporation, Boston Scientific Corporation, Cordis Corporation, Shimadzu Corporation, Medtronic plc, Angiodynamics, B. Braun Melsungen, Abbott Laboratories, Terumo Corporation, Toshiba Medical System Corporation, Merit Medical Systems Inc., Hitachi Medical Systems, Carestream Health, Hologic Inc., Guerbet S.A., Bracco Imaging SpA, Lantheus Medical Imaging Inc., Nordion Inc., Esaote SpA, Mindray Medical International Limited, Neusoft Medical Systems Co. Ltd., Samsung Medison Co. Ltd., FUJIFILM Medical Systems Inc., Ziehm Imaging GmbH, Shimadzu Medical Systems Inc., Omega Medical Imaging Inc., Allengers Medical Systems Limited
Angiography Equipment Market 2024 Key Insights:
• The angiography equipment market size is expected to see strong growth in the next few years. It will grow to $17.95 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%.
• Elevated Incidence Of Cardiovascular Diseases Propels Growth In The Angiography Equipment Market
• Innovation Takes Center Stage Pioneering Angiography Equipment Enhancements Drive Market Evolution
• Europe was the largest region in the angiography equipment market share in 2023
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