Global Angiography Devices Market - 2023-2030

Global Angiography Devices Market - 2023-2030

Market Overview

The global angiography devices market size was valued at US$ YY million in 2022 and is estimated to reach US$ YY million by 2030, growing at a CAGR of 6.2% during the forecast period (2023-2030).

Angiography devices are medical imaging devices used to visualize the inside, or lumen, of blood vessels and organs of the body, with a particular interest in the arteries, veins, and heart chambers. These include Angiography Systems, Catheters, Guidewires, Balloons, Contrast Media, Vascular Closure Devices, and Angiography Accessories.

Market Dynamics

The rising cases of cardiovascular diseases, growing geriatric populations, lifestyle changes, increasing awareness about cardiovascular diseases, and market developments are expected to fuel the global angiography devices market growth.

The new product launches boost the global angiography devices market during the forecast period.

The new product introduction for angiography boosts the global angiography devices market during the forecast period. For instance, in the Radiological Society of North America (RSNA) virtual meeting in 2020, GE Healthcare revealed its Allia IGS 7 angiography system. The system utilizes artificial intelligence to amplify the use of rotational angiography. Also, in November 2021, Royal Philips disclosed its perception of interventional medicine by including its breakthrough spectral CT imaging technology into a hybrid Angio CT suite. Philips expects to deliver interventionalists instantaneous table-side access to these two key imaging modalities by integrating the company's unique Spectral CT 7500 system and its Image-Guided Therapy System, Azurion, with FlexArm in a single interventional suite solution.

Additionally, in April 2022, GE Healthcare launched its Discovery IGS 740 mobile angiography system. The untethered Discovery IGS 740 delivers excellent room design and sitting flexibility. The Discovery's rail-free design and adjustable wide-bore C-arm positioning deliver exceptional comfort and control to the practitioners. Moreover, its large detector covers extensive anatomies in both 2D and 3D. Likewise, in November 2022, Genesis MedTech Group received the Food and Drug Administration (FDA) approval for its Chocolate Touch Drug-coated Balloon PTA Catheter, designed by TriReme Medical LLC, indicated for the treatment of patients with peripheral artery disease in the superficial femoral artery and the popliteal artery. Thus, the mentioned data indicates that the increasing product introductions drive the growth of global angiography devices in the forecasted period.

The stringent regulations and high costs hinder the global angiography devices market growth.

However, the reoccurring product recalls from the market by key market players are restraining the growth of global angiography devices during the forecasted period. For instance, in July 2021, Medtronic’s recalled 54,997 guidewire components used during angiography to place catheters into the vascular system because the devices were not sterilized before being shipped to hospitals. Also, in September 2021, Cordis Recalled its SUPER TORQUE MB angiographic catheter with radiopaque marker bands due to the potential for marker bands to move or mislodge. The FDA has recognized this as a Class I recall, the most serious recall.

COVID-19 Impact Analysis

The COVID-19 pandemic had a negative impact on the global Angiography Devices market since, during the pandemic, there was a large downfall in Angiography procedures. For instance, the British Cardiovascular Interventional society performed a retrospective analysis of all percutaneous coronary interventions (PCI) performed in the United Kingdom during the lockdown imposed by the pandemic in comparison with PCI volumes in the pre-pandemic period. The retrospective analysis concluded that there was 49% less PCI, with stable angina being hit the hardest, showing a 66% reduction, while the PCI for ST-elevation MI (STEMI) was down by 33%. Furthermore, the pandemic changed people's perspective toward healthy lifestyle choices, which caused a reduction in the cases of cardiovascular diseases, therefore impacting global angiography devices negatively.

Segment Analysis

Coronary heart disease is predicted to have a high demand during the forecast period (2022-2029).

Coronary heart disease is a heart disease in which the heart's arteries are unable to deliver sufficiently oxygen-rich blood to the heart muscles. It is the top reason for death. The reason for coronary heart disease relies on the type. Coronary artery disease is usually induced by cholesterol, a waxy substance that assembles up inside the lining of the coronary arteries, creating plaque. This buildup can partly or completely block blood flow in the heart's large arteries. The coronary microvascular condition occurs when the heart's tiny blood vessels do not typically work. For most individuals, coronary heart disease is preventable with a heart-healthy lifestyle.

Since the number of coronary heart disease cases is growing, coronary angiography is estimated to dominate the global angiography devices market throughout the forecast period. For instance, the American Heart Association estimated that globally, 244.1 million people were living with ischemic heart disease (IHD) in 2020, and it was more dominant in males than in females (141.0 and 103.1 million people, respectively). The highest prevalence rates of IHD were in North Africa and the Middle East, Central and South Asia, and Eastern Europe, and IHD mortality rates were highest in North Africa, the Middle East, Eastern Europe, and Central Asia in 2020. Thus, the mentioned data indicates that coronary angiography will dominate the global angiography devices market during the forecast period.

Geographical Analysis

North America is predicted to command the global angiography devices market.

North America is estimated to hold a large market over the forecast period (2022-2029) because of the growing cases of cardiovascular conditions and the existence of key market players in this region. For instance, according to the CDC, a U.S. American dies every 34 seconds because of cardiovascular disease. Cardiovascular disease caused over 697,000 deaths in 2020. Moreover, the existence of key market players such as Abbott, Haemonetics Corporation, Boston Scientific Corporation, Teleflex Incorporated, Medtronic, and Cook Medical Inc., having considerable percentages of the global angiography devices market through different market strategies, are based in the United States, secures the dominance of this region over the global angiography devices market. For instance, in May 2022, Teleflex Incorporated, a leading global medical technology provider, was granted Health Canada approval for its MANTA Vascular Closure Device, the first commercially available biomechanical vascular closure device developed particularly for large bore femoral arterial access site closure. This approval marks an essential landmark in the regulatory strategy to extend the availability of the MANTA Device globally and delivers access to another uniquely developed device from Teleflex to Canadian clinicians.

Also, in January 2021, Haemonetics Corporation (""Haemonetics""), a global medical technology company concentrated on delivering inventive medical solutions to drive better patient outcomes, acquired a privately-held Cardiva Medical, Inc. (""Cardiva""), an industry-leading manufacturer of vascular closure systems based in Santa Clara, California. Haemonetics enhances its penetration into the large and growing interventional cardiology and electrophysiology markets with this acquisition. Therefore, the data indicate that North America Holds most of the global market.

Competitive Landscape

The major global angiography devices market players are Abbott, Boston Scientific Corporation, Teleflex Incorporated, Medtronic, B.Barun Melsungen, Siemens Healthineers, Lepu Medical, GE Healthcare, Haemonetics Corporation, and Cook Medical Inc. The key players are adopting various strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, contributing to the growth of the Angiography Devices market globally. For instance, in October 2022, Lepu Medical obtained the MDR certificate issued by the BSI Netherlands Notified Body (2797) for its Ultraskin Hydrophilic Guide Wire and approved it for sale in the EU market. The certificate is valid for five years. Ultraskin Hydrophilic Guide Wire is the second product of Lepu Medical's high-risk class III product certified under MDR.

Medtronic, Plc.

Overview:

Medtronic plc is Ireland based American medical device company. Medtronic was founded in 1949 and is headquartered in Minneapolis, Minnesota, United States. Medtronics deals with four different businesses: the Minimally Invasive Therapies Group, the Diabetes Group, the Restorative Therapies Group, and the Cardiac and Vascular Group.

Product Portfolio

The product portfolio of Medtronic, Plc. for angiography devices contains Launcher: A coronary guide catheter comes with the performance advantages expected from a market leader, including a wide variety of curve shapes for transradial and femoral percutaneous coronary intervention (PCI).

The global angiography devices market report would provide access to approximately 40+ market data tables, 45+ figures, and in the range of 200 (approximate) pages.