Coronary Angiography Devices Market is Ready to Gain Prominence at a CAGR of 6.1 % by 2023, Asserts MRFR
As per the analysis offered by Market Research Future (MRFR), Global Coronary Angiography Devices Market Will Capture an impressive growth rate during the review period (2019-2023).
Pune, India – June 11, 2019 /MarketersMedia/ —
Market Insights
Market Research Future has presented its latest reports on the global coronary angiography devices market, which states that it is expected to gain eminence from 2018 to 2023. The reports also states that the global coronary angiography devices market estimates to register a CAGR of 6.1 % during the forecast period and would rise substantially.
The substantial occurrence of cardiovascular diseases, which the WHO has identified as the leading cause of death, globally, has been enticing numerous research and development activities since decades. Then came coronary angiography devices, that got invented as a mode of medical imaging to visualize blood vessels and body organs, such as arteries, veins, and heart. As the technology is harnessed further to make it more affordable for patients, and whereas healthcare infrastructure improves in the most promising emerging economies, the angiography devices market is well-informed for having a prosperous future. Thus, this is flourishing the global coronary angiography devices market to a great extent and paving ways for more opportunities to enter the market in the years to come.
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On this, the coronary angiography procedure is used to diagnose coronary heart disease, and coronary microvascular disease in a sudden cardiac arrest, chest pain, and strokes cases. This procedure is practiced before surgical procedures, such as coronary angioplasty. Therefore, the global coronary angiography market is mainly driven by the growing pervasiveness of cardiovascular diseases, increasing geriatric population, and benefits the procedure for early diagnosis. The report suggests that by the American Heart Association, fact sheet 2016, an estimated 85.6 million American adults had one or more types of cardiovascular diseases.
Key Players
The key players in the global coronary angiography devices market are Terumo, Boston Scientific Corporation, Canon Medical Systems, Cordis ( A Cardinal Health Company), B. Braun Melsungen AG, Angiodynamics, Abbott Vascular (Abbott Laboratories), Toshiba Medical Systems Corporation, Royal Philips Electronics, GE Healthcare, Medtronic, Inc., Shimadzu Corporation, and Siemens Healthcare.
Global coronary angiography devices market: Drivers & Trends
The factors behind the growth of global coronary angiography devices market are accounted as technological advancements in angiography devices, hovering awareness for diagnosis of heart diseases, and growing fondness for invasive procedures with improved medical imaging. These all are likely to contribute mainly to market growth in the years to come. Even the increasing research & development activities along with the continuous launch of products by leading market players might also enhance the global coronary angiography devices market growth during the forecast period.
Apart from the above factors, some more such as increasing cases of blockages in blood vessels in non-coronary diseases is also expected to drive the demand in the angiography devices market profoundly. In addition to that, a growing percentage of people with obesity, globally and government subsidies to increase the ubiquity of essential medical equipment are some of the other vital factors augmenting the demand in the global coronary angiography devices market.
Furthermore, other factors such as the rise in the elderly population, and technological advancements are some of the major factors driving the growth of global coronary angiography devices market.
On the flip side, the high cost of coronary angiography devices systems is hampering market growth. However, with the continuous developments in imaging technology have tremendously supported the improved diagnosis of cardiovascular disease.
Market Segmentation
According to MRFR, the global coronary angiography devices market has been segmented based on the product, devices, procedures, technology, indication, application, and end-user.
By product, the market is categorized as angiography systems, angiography catheters, angiography contrast media, Vascular Closure Devices (VCDs), angiography balloons, angiography Guidewires, and angiography accessories.
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By devices, the market is segmented into Magnetic Resonance Angiography (MRA), Computed Tomography Angiography (CTA), conventional angiography, Digital Subtraction Angiography (DSA), Catheter angiography, coronary angiography, and others.
By procedure, the market is segmented as coronary angiography, endovascular angiography, peripheral vascular angiography, and other angiography procedures.
By technology, the market is segmented into X-ray angiography, CT angiography, MR angiography, and other angiography technologies.
By indication, the market is segmented into coronary artery disease, valvular heart disease, congenital heart disease, congestive heart failure, and other signs.
By application is segmented into diagnostics and therapeutics.
By end-user, the market is segmented into hospitals and clinics, diagnostic and imaging centers, and research institutes.
Regional Outlook
Geographically, the market has been segmented into America, Europe, Asia Pacific, and the Middle East & Africa.
Among all, the Americas are likely to lead the global coronary angiography devices market owing to the well-established healthcare sector, increasing the existence of cardiovascular diseases and the accessibility of progressive technology. As per the American Heart Association data, in 2017, nearly 92.1 million American population are existing with some cardiovascular disease or the after-effects of stroke. Moreover, growing geriatric population, awareness about the benefits of early diagnosis, and treatment of heart disorder have driven the market growth in this region. As per the Population Reference Bureau, the number of Americans old over 65 is predictable to double from 46 million in 2014 to over 98 million by 2060.
Similarly, Europe is likely to hold the second position in the global coronary angiography devices market owing to the rising demand for medical diagnostic techniques and increasing occurrence of cardiovascular diseases are expected to drive the market towards positive notions. As per the European Cardiovascular Diseases Statistics, in 2015, an estimate of 85 million people was living with cardiovascular diseases in Europe and around 49 million people with the condition in the European Union.
Moreover, the Asia Pacific is accounted to be the fastest mounting region in the market owing to the massive patient population with heart diseases and rising geriatric population. According to WHO, 2015, Asia’s elderly population is probable to reach closely 923 million by 2050. Moreover, the participation of the government for the upgrading of the healthcare sector in India and Japan are likely to contribute to market growth.
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