by The angio suites market comprises equipment used for conducting angiography procedures. Angiography is a minimally invasive medical procedure used to examine blood vessels and organs such as the heart, brain, kidneys, and legs. Angio suites are imaging systems that help physicians visualize vessels during angiographic procedures. They are equipped with essential devices such as C-arms, panels for control and operation, flat panel detectors, recording devices, and imaging and monitoring equipment. Angio suites assist angiographers in accurately checking blood flow and identifying abnormalities in blood vessels. The advantages offered by angio suites like less invasive examination, high image quality, real-time visualization, and accurate diagnosis are increasing their adoption rate in healthcare facilities. The growing prevalence of cardiovascular, neurological, and peripheral vascular diseases requiring angiographic examinations is fueling the demand for angio suites globally.
The Angio Suites Market is estimated to be valued at USD 2.06 Bn in 2024 and is expected to reach USD 3.05 Bn by 2031, growing at a compound annual growth rate (CAGR) of 5.8% from 2024 to 2031.
Key Takeaways
Key players operating in the Angio Suites are Siemens, Koninklijke Philips N.V., Hitachi, Ltd., General Electric, Shimadzu Corporation.
Siemens holds a significant market share owing to its strong brand presence and wide portfolio of angio equipment.
There are high growth opportunities for manufactures in developing economies due to rising healthcare investments and growing medical tourism. Countries like India, China, Brazil offer lucrative prospects for angio suites vendors.
Major players are focusing on expanding their business globally through acquisitions and partnerships. For instance, in 2021 Philips acquired US based cardiac diagnostic firm BioTelemetry expanding its cardiovascular monitoring business. Shimadzu has also started local production of angiography systems in India.
Market Drivers
Increasing incidence of cardiovascular diseases such as coronary artery disease, heart stroke is a major driver for the angio suites market. According to WHO, cardiovascular diseases accounted for over 17 million deaths in 2015. This is prompting governments worldwide to strengthen cardiovascular care infrastructure which includes installation of angio suites.
Growing geriatric population prone to degenerative conditions is another key factor pushing the demand for angiography procedures and angio suites. As per UN reports, people aged over 60 years are projected to outnumber children under 10 years by 2050. This will significantly drive the need for angio suites market during the forecast period.
Market Restraints
High cost of angiography equipment including angio suites is a major barrier for resource constrained hospitals especially in developing countries. Procurement and maintenance costs of angio suites challenges affordability.
Dearth of trained angiographers in developing countries affects maximum utilization of installed angio suites. Ongoing shortage skilled professionals is a challenge for vendors in expanding to developing market.
Segment Analysis
The global angio suites market can be segmented based on product type, application, and end user. Based on product type, the angiography systems sub segment dominates the market as they help physicians to visualize coronary arteries and blood flow, and guide medical procedures like angioplasty. With technological advancements like flat panel detectors and wireless connectivity, demand for angiography systems is increasing significantly among healthcare facilities to perform routine angiography procedures.
By application, the cardiac procedures segment holds the largest share as coronary angiography and angioplasty are commonly performed cardiology procedures worldwide to treat conditions like coronary artery disease. As the geriatric population prone to cardiac diseases rises globally, demand for angioplasty devices and angiography systems from cardiology departments is increasing.
In terms of end user, the hospitals sub segment dominates the market due to the high patient volume and availability of advanced healthcare infrastructure to perform complex cardiological procedures. With rising healthcare expenditure, hospitals are increasingly adopting new medical imaging techniques like CT angiography for faster diagnosis and treatment of cardiovascular illnesses.
Regional Analysis
North America currently dominates the global angio suites market due to presence of major healthcare players, rising incidences of cardiac diseases, growing geriatric population and availability of reimbursement for angiography procedures. Asia Pacific is the fastest growing region on account of increasing healthcare spending, expanding private hospital industry and growing medical tourism across India and China.
What Are The Key Data Covered In This Angio Suites Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Angio Suites’s growth between 2024 and 2031.
:- Accurate calculation of the size of the Angio Suites and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Angio Suites Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Angio Suites vendors
FAQ’s
Q.1 What are the main factors influencing the Angio Suites?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Angio Suites companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Angio Suites’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
