Angio Suites Market
Number of pages: 100 | Report Format: PDF | Published date: April 27, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023 to 2031
|
Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 864.1 million |
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Revenue Forecast in 2031 |
US$ 1,423.1 million |
|
CAGR |
5.7% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023 to 2031 |
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Historical Year |
2021 |
|
Segments Covered |
Type, Application, End User, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global angio suites market was valued at US$ 864.1 million in 2022 and is expected to register a revenue CAGR of 5.7%to reach US$ 1,423.1 million by 2031.
Angio Suites Market Fundamentals
Angio suites are specialized medical imaging rooms equipped with advanced X-ray technology, computerized imaging systems, and other specialized tools. These suites are primarily used for performing minimally invasive diagnostic and therapeutic procedures, such as angiograms, embolization, and catheterizations. Angio suites are multi-purpose examination rooms used for various angio/interventional treatments. These include angioplasty, therapeutic stenting, obstruction bypasses, intravascular treatment, angiograms, myelograms, vertebroplasty, and surgery-free tissue specimen removal. Angio Suites are typically equipped with a large X-ray machine capable of producing high-resolution images of the blood vessels. The imaging system is connected to a computer that can analyze the images in real-time, allowing physicians to diagnose and treat abnormalities quickly.
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Angio Suites Market Dynamics
The rising prevalence of cardiovascular diseases, such as coronary artery disease and peripheral arterial disease, is one of the major drivers of the angio suites market. These suites are essential for the diagnosis and treatment of these conditions. The development of advanced imaging technologies, such as digital subtraction angiography (DSA), flat panel detectors, and 3D imaging, has significantly improved the accuracy and speed of diagnosis and treatment in angio suites, thus driving the demand for angio suites. Additionally, minimally invasive procedures are becoming increasingly popular due to their lower risk, faster recovery time, and reduced cost compared to traditional open surgeries. These suites are essential for performing minimally invasive procedures, such as angioplasty, stent placement, and embolization.
Moreover, governments and private organizations are investing highly in healthcare infrastructure to improve the quality of care and increase access to medical services. This investment is driving the growth of the angio suites market, as hospitals and clinics are upgrading their equipment to provide better diagnostic and treatment options for their patients. In addition, the rapidly increasing aging population is also driving the growth of the angio suites market, as older adults are more prone to vascular diseases that require diagnostic and interventional procedures. Furthermore, the increase in investments, money, and grants by public-private organizations is expected to contribute to the market's growth throughout the forecast period. As a result of these factors, the global angio suites market is expected to develop throughout the forecast period.
However, angio suite equipment are expensive, which can be a significant barrier for hospitals and clinics that want to invest in this technology. The high equipment cost can limit the availability of angio suites in certain regions or countries. Using angio suites requires specialized skills and training, which can be a challenge for hospitals and clinics that do not have access to trained professionals. The shortage of skilled professionals can limit the utilization of Angio Suites and affect the quality of care provided. Also, the development and approval of angio suite equipment can be complex and time-consuming, limiting the availability of new and advanced technologies. Regulatory requirements can also vary across regions and countries, creating challenges for manufacturers and healthcare providers. The use of X-ray technology in Angio Suites exposes patients and healthcare professionals to radiation, which can have harmful effects on their health. While radiation exposure from angio suites is generally considered safe, there is still a concern about long-term exposure and its potential risks. While angio suites are essential for diagnosing and treating certain vascular conditions, alternative diagnostic and treatment options, such as non-invasive imaging techniques and drug therapy, are available. The availability of these alternatives can limit the demand for angio suites in certain cases.
Angio Suites Market Ecosystem
The global angio suites market has been analyzed from the following perspectives: type, application, end user, and region.
Angio Suites Market by Type
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Based on the type, the global angio suites market can be further segmented into single-plane angio suites and bi-plane angio suites.
The single-plane segment accounts for a prominent revenue share in the global market. Single-plane angio suites are less expensive than their bi-plane counterparts, making them a more affordable option for hospitals and medical facilities. While bi-plane angio suites offer better imaging capabilities, single-plane angio suites can still perform various diagnostic and interventional procedures. Single-plane angio suites require less space than bi-plane angio suites, making them a more practical choice for smaller facilities with limited space. Single-plane angio suites have been on the market for longer and have been widely adopted by medical facilities worldwide, making them a more familiar and trusted option.
Bi-plane angio suites offer superior imaging capabilities compared to single plane Angio Suites, allowing for clearer and more detailed images of the blood vessels and heart. This is particularly useful in complex interventional procedures such as neurovascular interventions and pediatric cardiology. There is a growing demand for minimally invasive procedures, which require high-quality imaging to guide the placement of devices such as stents and catheters. Bi-plane Angio Suites offer this level of imaging quality, making them a preferred option for interventional cardiologists and radiologists. Chronic diseases such as diabetes, hypertension, and cardiovascular diseases are rising globally, leading to increasing demand for diagnostic and interventional procedures. Bi-plane angio suites are particularly useful in diagnosing and treating complex cases, which are becoming more prevalent. Many countries are investing in improving their healthcare infrastructure, which includes upgrading medical equipment such as angio suites. Bi-plane angio suites are preferred by many healthcare providers due to their superior imaging capabilities.
Angio Suites Market by Application
Based on the application, the global angio suites market can be further segmented into angiography, angioplasty, therapeutic stenting, obstruction bypass, and others.
The angioplasty segment registered for the largest revenue share in the global market in 2022. The global incidence of cardiovascular diseases such as coronary artery disease, peripheral artery disease, and hypertension is increasing rapidly, leading to a higher demand for diagnostic and interventional procedures such as angioplasty. There have been significant advancements in the technology used in angio suites, which have made angioplasty procedures safer and more effective. For instance, developing drug-eluting stents has reduced the risk of restenosis (re-narrowing of the arteries) after angioplasty. Angioplasty is a minimally invasive procedure that can be performed on an outpatient basis, with a lower risk of complications than traditional open surgeries. This has made angioplasty a preferred option among patients and healthcare providers. Many governments and private insurance companies provide reimbursement for angioplasty procedures, which has increased the accessibility of the procedure and has contributed to its dominance in the global angio suites market.
Similarly, the therapeutic stenting segment is also expected to show notable growth during the projected timeframe from 2023 to 2031. The incidence of cardiovascular diseases such as coronary artery disease and peripheral artery disease is on the rise globally. These diseases require therapeutic stenting as a treatment option, which has increased the demand for angio suites in this segment. There is a growing preference for minimally invasive procedures, which require using angio suites to guide the placement of stents. Therapeutic stenting is a minimally invasive procedure that has become more popular due to its effectiveness and lower risk of complications than traditional open surgery. Additionally, the development of advanced angio suites has improved the precision and accuracy of stent placement, leading to better patient outcomes. This has increased the demand for angio suites in the therapeutic stenting segment. Many countries have favorable reimbursement policies for therapeutic stenting procedures, making them more accessible to patients. This has contributed to the growth of the therapeutic stenting segment in the angio suites market.
Angio Suites Market by End User
Based on the end user, the global angio suites market can be further segmented into hospitals, ambulatory surgery centers, and others.
Hospitals tend to have a high patient volume, requiring more Angio Suites to meet the demand for diagnostic and interventional procedures. This drives the demand for Angio Suites in the hospital segment. Hospitals usually have a team of skilled and experienced healthcare professionals, including interventional cardiologists and radiologists, trained to operate angio suites and perform diagnostic and interventional procedures. Hospitals provide comprehensive medical care to patients, including diagnostic and interventional procedures such as angioplasty and stent placement. In various countries, government regulations require hospitals to have angio suites on-site to meet certain care and patient safety standards. This has increased the demand for angio suites in the hospital segment.
Angio Suites Market by Region
Based on the region, the global angio suites market can be further segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America dominates the global market with the largest share. North America is a hub for technological advancements in the medical field, which has translated into the development and adoption of advanced angio suites. This has attracted many patients and healthcare providers to the region, driving demand for angio suites. North America has a high incidence of cardiovascular diseases such as coronary artery disease and peripheral artery disease, which require diagnostic and interventional procedures such as angioplasty. This has increased the demand for angio suites in the region. The healthcare systems in North America, particularly in the United States, have favorable reimbursement policies for medical procedures, including those performed using angio suites. This has made these procedures more accessible to patients and has driven demand for angio suites.
Asia Pacific is the fastest-growing region in the global market. Healthcare expenditure in the Asia Pacific region has been increasing steadily. This has improved healthcare infrastructure and increased demand for advanced medical technologies such as angio suites. The Asia Pacific region has a large and growing population base, which has led to an increase in the prevalence of chronic diseases such as cardiovascular diseases. This has resulted in a greater demand for diagnostic and interventional procedures, including those performed using Angio Suites. The Asia Pacific region has seen rapid technological advancements in the medical field in recent years. This has led to the development and adoption of advanced angio suites, which has further contributed to the market growth in the region. Several countries in the Asia Pacific region have implemented favorable government initiatives to improve their healthcare infrastructure and promote the adoption of advanced medical technologies. This has provided a conducive environment for the region's growth of the angio suites market.
Angio Suites Market Competitive Landscape
The prominent players operating in the global angio suites market are:
The estimated market size of the global angio suites market in 2031 is US$ 1,1423.1 million.
The revenue CAGR for the angio suites market is 5.70% during the forecast period.
Siemens Healthcare GmbH, Canon Medical Systems Corporation, GE Healthcare, and Koninklijke Philips N.V. are the major players in the angio suites market.
The Asia Pacific region is projected to grow at high revenue CAGR in the global angio suites market.
The high equipment cost can limit the availability of angio suites in certain regions or countries. Using angio suites requires specialized skills and training, which can be a challenge for hospitals and clinics that do not have access to trained professionals. Thus, these are some restraining factors that can obstruct the growth of the global market.
*Insights on financial performance are subject to the availability of information in the public domain