Angiography X-Ray Market
Number of pages: 100 | Report Format: PDF | Published date: March 02, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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CAGR |
4.65% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023-2031 |
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Historical Year |
2021 |
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Segments Covered |
Procedure, Application, 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 angiography X-ray market is expected to register a revenue CAGR of 4.65% during the forecast period 2023 to 2031.
Angiography X-Ray Market Fundaments
X-ray angiography is a medical imaging procedure that utilizes X-rays to examine the body’s blood arteries and organs. As arteries are invisible to X-rays, the only method to see them is to fill them with dye in angiography, also known as an arteriogram. The dye’s correct terminology is contrast, and the iodine it contains is visible on X-ray.
X-ray angiography can be used for various treatments ranging from the brain to the feet; the required level of image quality varies based on the method and area of treatment. The brain, in particular, has a complicated network of fine blood veins weaving through the crevices between the nerves, and there has been substantial demand from point-of-care clinics for a higher-resolution X-ray detector. Some current trends in X-ray angiography include digital subtraction angiography (DSA), cone-beam computed tomography (CBCT), and interventional radiology. CBCT is a relatively recent technique that produces 3D pictures of blood vessels and surrounding structures using a cone-shaped X-ray beam. It can produce high-resolution images while exposing the patient to less radiation than typical CT scans. On the contrary, DSA is a technique of X-ray angiography wherein computer software is used to make an image of the blood arteries free of interference from other structures. It can potentially produce crisper and more detailed images than traditional X-ray angiography.
Interventional radiology is a fast-expanding domain that uses X-ray angiography to guide minimally invasive operations, such as stent implantation, embolization, and angioplasty. These treatments can be performed through a small incision or catheter, reducing recovery time and the risk of complications. Moreover, artificial intelligence (AI) and machine learning are also increasingly used to analyze X-ray angiography images and assist in diagnosis and treatment planning. AI algorithms, for instance, can help identify regions of blockage or anomalies in blood arteries and predict the likelihood of future problems.
Angiography X-Ray Market Dynamics
The changing lifestyles have resulted in an increased prevalence of vascular disorders, such as heart attacks and brain aneurysms. In the middle of this trend, catheter therapy is becoming notably popular as it eliminates the need for major surgical procedures, such as thoracotomies or craniotomies, which place a significant burden on the patient and reduces the length of the patient’s hospital stay. X-ray angiography is a necessary component of catheter therapy. The procedure involves injecting contrast material into the patient’s blood vessels to produce real-time intravascular pictures in monochromatic contrast. Initially designed for diagnostic purposes, it is now an important tool in medical therapy. X-ray angiography is even more effective in the emergency department, where every second counts since it streamlines and speeds up the procedure from diagnosis to therapy.
The geriatric population is prone to chronic heart diseases. Moreover, there has been a rise in the prevalence of cardiovascular diseases, such as coronary artery blockage, heart attack, atherosclerosis disease, ischemic stroke, aneurysm, tumors, blood clots in the brain, hypertension, myocardial infarction, and arrhythmia. This aside, the rise in the prevalence of blockages of blood vessels in the heart, brain, kidney, and liver and the increase in the demand for minimally invasive contribute to the expansion of the angiography X-ray market.
According to the Health Hearty 2020 research, the occurrence rate of heart attacks per 10,000 persons is about 190 in people over 85 and around 117 in those between 75 and 84. For instance, according to the National Centre for Health Statistics, over 795,000 people in the United States suffer from a stroke per year. Furthermore, according to the Centers for Disease Control and Prevention (CDC), ischemic stroke accounts for approximately 87% of all recorded strokes.
However, the risks associated with X-ray angiography devices, such as radiation exposure, which can cause skin, eye, and, in the worst-case scenario, cancer, may limit market revenue growth during the forecast period. Furthermore, the lack of health insurance coverage and the implementation of stringent government regulations may hinder the global angiography X-ray market revenue growth.
Angiography X-Ray Market Ecosystem
The global angiography X-ray market has been analyzed from three perspectives: procedure, application, and region.
Angiography X-Ray Market by Procedure
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Based on the procedure, the angiography X-ray market has been segmented into coronary, endovascular, and cerebral.
The coronary segment dominated the market in 2022. A coronary angiogram is a type of procedure belonging to the heart (cardiac) catheterization group. Cardiac catheterization techniques can be used to diagnose and treat heart and blood vessel abnormalities. The most common type of cardiac catheterization technique is coronary angiography, which can assist in identifying heart issues. The rising prevalence of coronary artery diseases (CAD) and the availability of less-invasive imaging techniques are driving up demand for coronary angiography in developing nations, such as China and India. Furthermore, continuous advancements in imaging technology have allowed for more accurate disease diagnosis. The imaging expertise has evolved from single-slice CT to multi-slice CT, which provides superior CAD visualization and assessment.
The growing cases of cardiovascular disorders, expanding numbers of coronary angiography operations, technological developments in coronary angiography devices, and increased product approvals for improved angiography techniques are driving up the demand for coronary angiography. For instance, according to Manda et al. paper titled Cardiac Catheterization Risks and Consequences, in 2021, the number of cardiac catheterization procedures conducted in the United States will be 1,000,000. Coronary angiography equipment is also often employed in minimally invasive surgeries. These factors are anticipated to necessitate the usage of coronary angiography equipment, boosting revenue growth in the global coronary angiography devices market.
Angiography X-Ray Market by Application
Based on application, the angiography X-ray market has been segmented into diagnostics and therapeutics.
The diagnostic segment dominated the market in 2022. Advancements in computed tomography angiography (CTA) and magnetic resonance angiography (MRA) offer key information in disorders related to cardiology and neurology, such as cerebral aneurysms, acute stroke, arteriovenous brain malformation, dural arteriovenous fistula, suspected cerebral vasculitis, and occlusive disorders.
Angiography X-Ray Market by Region
Based on the region, the angiography X-ray market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
North America dominates the angiography X-ray market due to the high acceptance rate of minimally invasive procedures, the availability of reimbursement policies, the increase in the elderly population, high replacement rates of medical equipment, and the increase in the prevalence of cardiovascular diseases (CVDs). For instance, cardiovascular disease is the leading cause of death in the United States. According to the American Heart Association statistical factsheet, CVD was responsible for about 46.8% of all fatalities in 2021, followed by stroke (17.8%), high blood pressure (10.4%), and heart failure (9.5%). More than 132 million persons in the country are predicted to have one or more types of CVDs by 2035. Moreover, tobacco and alcohol usage, poor diet, obesity, and physical inactivity raise the risk of CVD, according to the WHO. Obesity in adults went from 35.9% to 38.7% in 2020, while obesity in children increased from 17.9% to 18.2%. Healthcare costs the country about US$ 10,448 per person. American manufacturing is expected to be impacted by the shifting regulatory environment. These factors drive the angiography X-ray market and will continue to do so during the projected period. Additionally, a strong network of medical device businesses and many hospitals spread across cities and states with significant funding prospects primarily contribute to the region’s dominance in the market. Furthermore, supportive government initiatives aid in the development required to treat cardiovascular disorders in the region’s healthcare domain.
Europe is the second-largest market in terms of revenue. The high prevalence of cardiovascular disorders, considerable government spending, rapid product approval procedures, and increased acceptance of angiography equipment due to the rise in the number of angiography screening procedures conducted contribute to the larger share of the Europe market.
Asia Pacific is expected to be the fastest-growing region in the market for angiography X-rays. This can be attributed to factors such as favorable reimbursement policies of the Japanese government boosting associated with technological developments. Moreover, the regulatory environment is less demanding in South Korea, Brazil, and India, creating an appealing opportunity for multinational corporations to establish their presence in these markets. China is consolidating to improve the quality of this equipment. Increasing imports from major market players, such as GE Healthcare, Siemens Healthcare, and Koninklijke Philips N.V., propel the China angiography X-ray market forward.
Angiography X-Ray Market Competitive Landscape
Companies are investing in research and development projects. Moreover, they are using strategies, such as partnership, acquisition, and merger, to expand their businesses and gain a competitive edge.
Some of the prominent players in the global angiography X-ray market include:
Angiography X-Ray Market Strategic Developments
X-ray angiography is a medical imaging procedure that utilizes X-rays to examine the body’s blood arteries and organs. An angiography, also known as an arteriogram, as arteries are invisible to X-rays, and the only method to see them is to fill them with dye.
Europe and Asia Pacific are the two key revenue growth regions in the global angiography X-ray angiography market.
The coronary procedure segment accounts for the largest revenue share of the global angiography X-ray market.
The global angiography X-ray market is expected to register a revenue CAGR of 4.65% during the forecast period.
Some prominent players in the global angiography X-ray angiography market include AngioDynamics Inc., Shimadzu Corporation, and Canon Medical Systems Corporation.
*Insights on financial performance are subject to availability of the information in the public domain