Angiography Equipment Market is Growing at a CAGR of 4.4% by 2019 - New Research Report by MarketsandMarkets
(PRWEB) January 28, 2015 -- The global angiography devices market was majorly dominated by North America in 2013. This regional market will continue to dominate the angiography devices market by 2019. However this market will be mainly driven by the demand for replacement of old devices with new innovative devices. The Asian market will grow at a higher CAGR during the forecast period (2014 to 2019), with market growth driven by the rising patient population with cardiovascular diseases, increased focus on the prevention, diagnosis, and treatment of cardiovascular disease, with the increasing income of the middle-class population.
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The angiography devices market is mainly driven by technological advances, innovative product offerings, and growing aging population and increasing prevalence of vascular diseases. However, the lack of reimbursement for these systems and the presence of stringent regulations are expected to restrain the growth of this market in the forecast period.
The global angiography devices market is expected to grow at a CAGR of 7.2% during the forecast period of 2014 to 2019. The increasing utilization of angiography procedures for the diagnosis and treatment of cardiovascular diseases owing to rise in the global population with cardiovascular diseases and heavy investments by medical imaging device manufacturers to offer advanced and innovative products for better results has propelled the growth of this market.
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The angiography devices market in this report is broadly segmented by technology, products, applications, procedures, indications, and end users. The market, by products, is segmented into angiography systems, catheters, guide-wires, balloons, contrast media, vascular closure devices, and accessories. The market by technology is segmented into X-ray, computed tomography, and magnetic resonance angiography. Based on applications the market is segmented as diagnostic and therapeutic.
Based on indication the market is segmented as known/suspected CAD, valvular heart disease, congenital heart disease, and congenital heart failure. Based on procedure, the market is segmented as coronary angiography, micro-angiography, neuro-vascular, peripheral angiography, post-mortem CT angiography, and other procedures (radiofrequency (RF) tumor ablation studies, other RF procedures). The angiography devices end-user market is divided into hospitals, diagnostic centers, and academic research laboratories.
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While developed regions like North America and Europe will show a sluggish growth, emerging markets like Asia and the Rest of the World (Latin America) are expected to record strong growth. Countries like India, China, and Brazil will majorly drive the growth of these emerging markets owing to rising investment by public & private players in these countries, large patient population, and focus of leading players to capture growth opportunities in these markets.
Some prominent players in this market include Siemens Healthcare (Germany), GE Healthcare (U.K.), Toshiba Medical Systems Corporation (Japan), Shimadzu Corporation (Japan), Royal Philips Electronics (Netherlands), St. Jude Medical, Inc. (U.S.), Abbott Vascular (Abbott Laboratories) (U.S.), Cordis Corporation (A JNJ Company) (U.S.), Boston Scientific Corporation (U.S.), and Medtronic, Inc. (U.S.).
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