Angiography Market Dynamics, Forecast, Analysis and Supply Demand 2017-2025

Angiography is a procedure of diagnostic imaging to detect abnormalities of blood vessels. The X-ray image obtained by the angiography procedure is called as angiogram. In angiography, a special dye, also known as contrast medium, is injected in the body through a thin tube of plastic known as catheter. The dye makes the blood flowing through the blood vessels visible in the X-ray image. The procedure thus detects the abnormalities of blood vessels such as blockage, narrowing, inflammation, and bleeding inside the blood vessels. Angiography assists in angioplasty procedure, wherein a stent is inserted inside an artery when the narrowing of the artery is detected in the angiogram. Angiography is generally conducted by a radiologist or a trained medical professional who operates the X-ray machine. This procedure helps to diagnose disorders which are related to blood vessels and determine the treatment of these disorders.

 

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Increasing prevalence of coronary heart diseases, and favorable reimbursement policies for the treatment of heart disorders are the major factors driving the growth of the angiography market during the forecast period. However, high cost of the procedure and fluctuating scenario regarding the upgradation of angiography devices are expected to restrict the growth of the market during the forecast period.

The global angiography market can be segmented on the basis of procedure type, application, product, end-user, and region. Based on the procedure type, the market is segmented into coronary angiography, cerebral angiography, renal angiography, pulmonary angiography, and others. The coronary angiography segment held a significant market share in 2016 owing to increasing awareness about congestive heart failure and rising demand for precise diagnostic imaging techniques for better diagnosis of the disease conditions. This segment is anticipated to continue to dominate the angiography market during the forecast period due to the introduction of advanced diagnostic techniques by key players operating in the global market. In terms of application, the market is segmented into congestive heart failure, coronary artery disorders, kidney disorders, and others. The coronary artery disorders segment accounted for a high market share in 2016 owing to favorable reimbursement policies by various private and public players and rising global geriatric population. Increase in public funding to improve the health care infrastructure in developing countries and rise in the prevalence of cardiovascular disorders worldwide are projected to drive the growth of coronary artery disorders and kidney disorders segments during the forecast period.

On the basis of product, the market is divided into angiography systems, catheters, incision closure devices, balloons, contrast media, and other accessories. The angiography systems segment captured a high market share in 2016 owing to its high cost. The segment is expected to continue to dominate the market during the forecast period due to increase in per capita expenditure of the population and launch of new products in the medical diagnostic field. Based on the end-user, the market is divided into hospitals, ambulatory surgical centers, clinics, and others. The hospitals segment held a significant market share in 2016 and is expected to continue to dominate the market during the forecast period owing to availability of trained and well-qualified health care professionals and technological advancements in diagnostic techniques.

Geographically, the market is distributed over North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global market in 2016 due to rising adoption rate of modern and novel medical imaging techniques. However, Asia Pacific is projected to expand at a high CAGR during the forecast period due to rising geriatric population and government participation for the improvement of the health care sector in India and Japan. Rising demand for efficient medical diagnostic techniques and increasing prevalence of coronary heart diseases are expected to propel the market growth in North America by 2025.

Prominent players operating in the global angiography market include GE Healthcare, St. Jude Medical, Inc., Abbott Laboratories, Shimadzu Corporation, Bayer Ag, Allengers, OSCOR Inc., Degania Silicone Ltd., and CathRx Ltd. among others.

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