Market Challenges And Opportunities

Global Angiography Equipment Market- Drivers

Rising prevalence of cardiovascular diseases: The growing prevalence of cardiovascular diseases across the globe is expected to be a key driver for the angiography equipment market. Cardiovascular diseases, including coronary artery diseases, cerebrovascular diseases, and peripheral artery diseases, have been increasing at an alarming rate. These diseases have become one of the leading causes of death worldwide. With the increasing burden of cardiovascular diseases, the demand for effective diagnostic procedures and treatment options for these conditions has significantly risen. Angiography provides detailed information about the arteries and blood vessels and helps in the diagnosis and evaluation of various cardiovascular diseases. The growing disease prevalence has resulted in rising number of angiography procedures being performed globally every year. For instance, in June 2021, according to a report published by the World Health Organization, cardiovascular diseases (CVDs) were the leading cause of death globally, with an estimated 20.1 million people died from CVDs in 2020, representing 37% of all global deaths. Of these deaths, 85% were due to heart attacks and strokes.
Increasing geriatric population: The increasing geriatric population is a significant driver for the growth of the global angiography equipment market for several reasons:
- Higher Risk of Cardiovascular Diseases: Older adults are at a greater risk of developing cardiovascular diseases (CVDs) due to age-related changes in the heart and blood vessels. As the population ages, the incidence of CVDs rises, leading to a higher demand for diagnostic and therapeutic angiography procedures.
- Need for Diagnostic Procedures: The elderly are more likely to need diagnostic procedures like angiograms to detect heart conditions, blockages, and other vascular diseases. This increases the utilization of angiography equipment.
- Chronic Condition Management: An older population often means an increased prevalence of chronic conditions that require ongoing monitoring and treatment, for which angiography is a key diagnostic tool.

Thus, the rising geriatric population is a significant market driver for the angiography equipment market. For instance, in October 2021, according to the World Health Organization (WHO) Prospectus, the number of individuals over the age of 60 was 1 billion in 2020, and this is expected to significantly increase to 1.42 billion by 2050. The world's population of adults aged 60 and older would have doubled (to 2.17 billion) by 2050.

Technological advancements in angiography equipment: The continuous technological innovations and advancements in angiography systems over the past few years have also propelled the growth of the global angiography equipment market. Vendors are focusing on developing more advanced angiography suites with new imaging modalities, improved functionalities, and customization abilities. This is helping physicians perform angiography procedures more efficiently and obtain high-quality images. For instance, newer angiography systems are integrated with flat panel detectors, 3D reconstruction capabilities, advanced image processing tools, and the ability to conduct biplane angiography.

The introduction of innovative technologies like cone beam CT, rotational angiography, and intravascular ultrasound guidance has further enhanced the applications of angiography. Mobile C-arms with improved maneuverability and compact designs are making angiography procedures possible even in limited space settings. Moreover, many vendors are coming up with user-friendly digital imaging software and physician workstations to improve workflow and reporting. Progressive innovations in the fields of contrast media, guidewires, and catheters are also supporting high quality angiography outcomes. Technological advancements are enabling early and accurate detection of abnormalities as well as real-time monitoring of interventional procedures. This is proving beneficial for improving clinical decision making and patient outcomes. As vendors continue to invest heavily in R&D, the angiography equipment market is expected to witness robust growth driven by ongoing innovations.

Global Angiography Equipment Market- Opportunities

Growing healthcare expenditure: One of the significant factors influencing the growth rate of the global angiography equipment market is the growing healthcare expenditure, which helps in improving its infrastructure. For instance, according to the International Health Care System of the U.S., in June 2020, U.S. government organizations aim to improve the healthcare infrastructure by increasing funding, setting legislation and national strategies, and cofounding and setting basic requirements and regulations for the Medicaid program. Similarly, in November 2022, the Canadian Institute for Health Information reported that the total health spending in Canada was US$ 331 billion in 2022, or US$ 8,563 per Canadian, while health expenditure represented 12.2% of Canada's gross domestic product (GDP) in 2022, following a high of 13.8% in 2020.
Growing awareness about benefits of early diagnosis: Growing awareness regarding the benefits of early diagnosis is a key factor propelling the global angiography equipment market's growth. Here is how increased awareness contributes to market expansion:
- Early Detection and Treatment: Public and medical community awareness about the importance of detecting cardiovascular diseases early can result in improved outcomes. As awareness increases, more individuals seek screening for potential issues, which leads to greater usage of angiography for early diagnosis.
- Reduction in Long-Term Healthcare Costs: Governments and healthcare systems promote early diagnosis as it can significantly reduce long-term healthcare costs by preventing the progression of diseases. This economic advantage drives investment and advancements in angiography technologies.
- Influence of Medical Campaigns: Health campaigns and educational programs highlighting the importance of early diagnosis for heart diseases encourage people to undertake preventative testing using angiography equipment.
- Increased Screening Programs: Healthcare systems may implement widespread cardiovascular screening programs that rely on angiography equipment, hence boosting its demand.