Angiography Equipment Market Size, Share & Trends Analysis Report By Technology (X-Ray, MRA, CT), By Product (Angiography Systems, Contrast Media), By Procedure, By Application, By Region, And Segment Forecasts, 2023 - 2030

Angiography Equipment Market Trends

The global angiography equipment market size was valued at USD 10.05 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 5.9% from 2023 to 2030. The increasing scope of applications and technological innovations are expected to be the key growth-driving factors for the market. Investments in the healthcare sector, the increasing geriatric population, and the rising prevalence of Cardiovascular Diseases (CVDs) are other prominent factors responsible for market growth. According to the World Health Organization (WHO), more than 75% of CVD deaths are caused in low-income and middle-income countries due to the lack of easy access to primary healthcare programs for early detection and treatment.

CVDs are a leading cause of death in the U.S. As per the American Heart Association, CVDs caused 928,741 deaths in the U.S. in 2020. Coronary heart disease was the leading cause, accounting for around 41.2% deaths, followed by stroke, which accounted for approximately 17% of fatalities.

As per the WHO, factors including tobacco and alcohol consumption, unhealthy diet, obesity, and physical inactivity increase the risk of CVD. The incidence rate of obesity in adults rose from 34.9% in 2011-2012 to 37.7% in 2014, and 16.9% to 17.2% in children. Per person, approximately USD 10,348 was spent on healthcare in the U.S. in 2016. In 2020, 39 million children aged five or less were obese or overweight globally.

Changing regulatory scenario is likely to affect the manufacturers in the U.S. In accordance with the Affordable Care Act (ACA) and Health Care and Education Affordability Reconciliation Act, manufacturers in the country are required to pay a 2.3% excise tax on U.S. sales of class I, II, and III medical devices from January 2013.

Technology Insights

The X-ray segment held the largest share of 36.2% in 2022. Based on technology, the market is segmented into X-ray, MRA, and CT. Companies are investing heavily in developing new technologies, which is expected to support market growth. The need for reduction of radiation dose, improvement in image quality, and emerging cath lab trends are expected to drive the market. In July 2022, Siemens Healthineers launched Mobilett Impact, a wireless mobile X-ray system, to facilitate scans at the patient’s bedside, increasing the convenience of procedures.

MRA is expected to be the fastest-expanding segment with a CAGR of 6.3% over the forecast period, owing to its advantage of negligible exposure to radiation in the diagnosis of heart disease. MRA offers 3D capabilities to acquire images in any anatomical plane with excellent soft tissue contrast. The emergence of 3.0T MR imaging has significantly enhanced the diagnosis of coronary artery disease. These factors are also said to boost the segment growth.

In June 2022, Siemens Healthineers launched the Artis icono ceiling angiography system, featuring precise tumor embolization and 2D and 3D imaging of tumors. It has multidisciplinary usability and provides seamless integration with third-party software and interfaces. 

Product Insights

The angiography systems segment led the market with a share of 26.6% in 2022 due to continuous investments, technological advancements, and growing scope of applications. These systems have evolved from catheter-based minimally invasive procedures to digitalized procedures. In June 2022, MicroPort Scientific Corporation launched the MicroPort Argus optical coherence tomography (OCT) system, featuring OCT as a main endoluminal imaging technology due to its high-resolution feature aiding the customization of treatment for various patients.

The global market is segmented into accessories, systems, guidewires, catheters, balloons, vascular closure devices, and contrast media. Contrast media is expected to be the fastest-growing product segment with a CAGR of 6.3% over the forecast period. These products are widely used for enhancing the visibility of blood vessels in imaging techniques, such as CT angiography, MRA, and X-ray. It is also used in projectional radiography and fluoroscopy. Various radiocontrast agents used are iodine, barium-sulfate, and gadolinium. In November 2022, GE HealthCare announced a USD 80 million investment in expanding its iodinated contrast media production capacity in Norway by 30%, creating 100 new jobs.

Regional Insights

North America led the market with a share of 33.1% in 2022 and is likely to expand further due to the increasing geriatric population and prevalence of CVDs in the region. The presence of major companies in the U.S. is attributed to the major share of the regional market. Europe is also anticipated to witness significant growth over the coming years due to the presence of a majority of local and foreign manufacturers. Growing demand for advanced medical devices and the prevalence of CVD are expected to drive the regional market.

Asia Pacific is expected to emerge as the fastest-growing region, with a CAGR of 6.2% over the forecast period. Favorable reimbursement policies promoting technological advancements support the region’s growth. The regulatory scenario is not stringent in countries such as South Korea, Brazil, and India, offering an attractive opportunity for global companies to set their footprints in these markets. China is undergoing consolidation to upgrade the quality of this equipment.

Rising imports from the largest market players, such as GE Healthcare, Siemens Healthcare, and Koninklijke Philips N.V., are fueling the growth of the Chinese angiography market. In December 2020, GE Healthcare launched the latest version of its robotic angiography system Allia IGS 7 angiography system for image-guided therapy, operating on a wheeled gantry for better accessibility and transportability.  

Procedure Insights

The coronary angiography segment dominated the market with a share of 45.7% in 2022. The rising prevalence of Coronary Artery Disease (CAD) and the availability of less-invasive imaging modalities are escalating the demand for coronary angiography in developing countries, such as China and India. As per the Centers for Disease Control and Prevention (CDC), CAD is the most common heart disease, killing 375,476 people in 2021. About 5% of adults are diagnosed with CAD, and around 20% of CAD deaths occur in adults aged less than 65 years.

In terms of procedure, the market is segmented into coronary, endovascular, and neurovascular. Constant developments in imaging technology have enabled better diagnosis of the disease. The imaging skill has observed change from single slice CT to multislice CT, providing excellent visualization and assessment of CAD. A wide range of options available for diagnosis include coronary CT angiography, cardiac Magnetic Resonance Imaging (MRI), cardiac Single Photon Emission Computed Tomography (SPECT), Positron Emission Tomography (PET), and integrated SPECT/CT and PET/CT.

Application Insights

The diagnostic application segment dominated the market with a 58.8% share in 2022 and is expected to witness the fastest CAGR of 6.1% during the forecast period. Developments in CTA and MRA provide appropriate information in cardiology and neurology, such as cerebral aneurysms, acute stroke, brain arteriovenous malformation, dural arteriovenous fistula, suspected cerebral vasculitis, and occlusive diseases.

Rising awareness about CVDs and associated risk factors is expected to drive the market. Globally, CAD accounts for the maximum number of deaths and disabilities. The joint initiatives of the WHO and state governments to increase awareness about heart diseases and their underlying causes are further expected to contribute to the angiography equipment market growth.

Key Companies & Market Share Insights

Key industry players are investing in R&D to increase their product portfolio. For instance, in 2018, Shimadzu Corp. released three models of Trinias series and a minimally invasive Bi-plane angiography system. Also, in 2017, Medtronic Inc. introduced the DxTerity Diagnostic Angiography Catheter line to its existing catheter range. Many companies are undertaking growth strategies involving mergers and acquisitions to expand their reach and product portfolios. For instance, in August 2020, Royal Philips announced an agreement to acquire Intact Vascular, Inc. to enhance Royal Philip’s image-guided therapy portfolio.  

Angiography Equipment Market Report Scope

Global Angiography Equipment Market Report Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global angiography equipment market report on the basis of product, technology, procedure, application, and region:

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Angiography Systems

  • Catheters

  • Guidewire

  • Balloons

  • Contrast Media

  • Vascular Closure Devices

  • Angiography Accessories

• Technology Outlook (Revenue, USD Million, 2018 - 2030)

  • X-Ray

  • MRA

  • CT

• Procedure Outlook (Revenue, USD Million, 2018 - 2030)

  • Coronary

  • Endovascular

  • Neurovascular

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Diagnostic

  • Therapeutic

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Sweden

    • Norway

    • Denmark

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia

    • Thailand

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East and Africa

    • Saudi Arabia

    • South Africa

    • UAE

    • Kuwait