|Fastest Growing Market:||Asia-Pacific|
|Largest Market:||North America|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The angio suites market is expected to register a CAGR of 8.9% over the forecast period (2022-2027).
While the sudden outbreak of the COVID-19 pandemic has impacted most of the business sectors negatively, the angio suites market has shown significant growth in 2020 and 2021 owing to the increase in cases of heart disease and other chronic diseases during the pandemic. The demand for angio suites increased because these are the advanced interventions used for the accurate and efficient diagnosis, which help to visualize the inside of human blood vessels, particularly the arteries. The uncontrolled and sudden increase in covid-19 cases resulted in an increased patient population suffering from heart disease and this increased demand for advanced angio suites.
An article published in April 2020 titled “How to Handle a COVID-19 Patient in the Angiographic Suite” mentioned that to avoid contamination, isolated patients were treated in separate angio suites, which were equipped with ventilation systems like an operating room. But procedures for life-threatening conditions (e.g., thrombectomy for stroke, acute mesenteric ischemia, endovascular aortic aneurysm repair for aortic ruptures), non-deferrable oncologic treatments (e.g., interventional procedures bridge to liver transplant, selected percutaneous ablations), and organ-saving procedures (e.g., urgent diabetic foot angioplasty) were performed in most of the hospitals whenever deemed to be necessary during the pandemic. Hence, Covid-19 had a significant impact on the growth of the studied market.
Factors such as the increasing burden of the geriatric population coupled with cardiovascular diseases, the growing need for minimally invasive surgeries, the high of artificial intelligence (AI) and analytics in diagnostic imaging, and rapid technological advancements in diagnostic imaging are among the major factors expected to intensify the growth of the angio suites market. For instance, the World Health Organization (WHO) data published in October 2021 estimated that between 2015 and 2050, the proportion of the world's older population of age 60 years or more would nearly double from 12% to 22%. And 80% of older people are anticipated to be living in low- and middle-income countries in the year 2050. This population is more prone to getting cardiovascular diseases and other chronic illnesses. This is expected to demand more advanced diagnostic procedures, and it is anticipated to drive the growth of the angio suites used for diagnostic imaging driving the studied market growth over the forecast period.
In addition, awareness among the target population for early diagnosis and an expanded scope of clinical applications are also likely to enhance the growth of the studied market. Furthermore, the rise in the investments, funds, and grants by public-private organizations is anticipated to contribute to the growth of the market studied over the forecast period. Therefore, as per the aforesaid factors, the global angio suites market is poised to witness growth over the forecast period.
Scope of the Report
As per the scope of the report, the angio suite is like an operating room where an angiographic system is used to perform minimally invasive procedures. A permanently mounted angio suite in an operating room (OR) is known to be a hybrid OR. The angio suites market is segmented by Type (Biplane Angio Suites and Single Plane Angio Suites), Application (Angioplasty, Therapeutic Stenting, Obstruction Bypass, and Others), and Geography (North America, Europe, Asia-Pacific, Middle East, and Africa, South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.
|Biplane Angio Suites|
|Single Plane Angio Suites|
Key Market Trends
Angioplasty by Application Segment is Expected to Witness Growth Over the Forecast Period
Angioplasty is a procedure that is used to open blocked coronary arteries caused by coronary artery disease—owing to the rising prevalence of cardiovascular diseases. The angioplasty segment is anticipated to witness projected growth over the forecast period.
The burden of heart and circulatory disease worldwide has been more prevalent recently. According to the British Heart Foundation, heart and circulatory diseases cause one-third of all deaths in the United Kingdom (UK). As per the data reported by the American College of Cardiology in 2020, approximately 1.2 million angioplasties are performed in a year in the United States. Moreover, According to the Centers for Disease and Prevention (CDC) in 2022, about 659,000 people in the United States die from heart disease each year which was 1 in every 4 deaths. As the burden of coronary heart disease is increasing the demand for angioplasty is also accelerating. As coronary angioplasty is used to widen blocked or narrowed coronary arteries, allowing the patient to be safe, the demand for angioplasty is booming currently. This is anticipated to drive the growth of the studied market in the near future.
Moreover, angioplasty is less scarring, provides reduced side effects from the surgery, higher success rate, minimal invasion, and speedy recovery contribute as major advantages which are among the factors, angioplasty is popular among patients and healthcare professionals. Therefore, owing to the factors mentioned above, the angioplasty segment is anticipated to witness growth over the forecast period.
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North America is Expected to Dominate the Market over the Forecast Period
North America is expected to be a dominant region in the angio suites market owing to the increasing number of investments, technological advancements, and the increased burden of cardiovascular and other chronic diseases.
Cardiovascular diseases (CVDs) are the leading cause of death across the globe, among other life-threatening diseases. The global burden of cardiovascular disease is estimated to be around 29% of the total deaths in the future. According to the American Heart Association, by 2030, 40.5% of the United States population is expected to suffer from cardiovascular disease. This increasing burden of CVDs is anticipated to drive the growth of the studied market in the region.
Adding to that, as per a press release in July 2021, the governments of Canada and Quebec announced their plans to invest in 209 infrastructure projects to modernize, redevelop, and upgrade health and social services institutions in Quebec, including hospitals, residential and long-term care centers, local community service centers, and rehabilitation centers. The federal Minister of Infrastructure and Communities, and Minister of Health and Social Services, announced a total of USD 188,3 million in funding for these 209 infrastructure projects. As a result, for the development and implementation of advanced medical devices, the angio suites are also anticipated to create demand for infrastructure development. Hence, it is anticipated to drive the growth of the studied market in the countries. Therefore, owing to the aforesaid factors, the growth of the studied market is anticipated in the North America Region.
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The Angio suites market is fragmented in nature due to the presence of a number of companies globally. The studied market consists of several international as well as local companies which hold the majority of the market shares and are well known, including Siemens Healthcare GmbH, Canon Medical Systems Corporation, GE Healthcare, and Koninklijke Philips N.V., Carestream Health, and Shimadzu Corporation, among others.
- In December 2021, GE Healthcare announced the successful acquisition of Boston, United States-based imaging company “BK Medical.” GE has made a payment of USD 1.45 billion in order to bring the acquisition to a close. Moreover, the transaction has strengthened the ultrasound business of GE Healthcare.
- In October 2021, Yashoda Hospitals (Secunderabad, India) launched a 'Bi-Plane Neuro Angio Procedure Suite' with DTAS (Direct to Angio Suite) technology on World Stroke Day.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Burden of Geriatric Population Coupled with Cardiovascular Diseases
4.2.2 Growing Need for Minimally Invassive Surgeries
4.2.3 High of Artificial Intelligence (AI) and Analytics in Diagnostic Imaging
4.2.4 Rapid Technological Advancements in Diagnostic Imaging
4.3 Market Restraints
4.3.1 High Risk of Radiation Exposure
4.3.2 High Cost Associated with Installation
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Type
5.1.1 Biplane Angio Suites
5.1.2 Single Plane Angio Suites
5.2 By Application
5.2.2 Therapeutic Stenting
5.2.4 Obstruction Bypass
5.3.1 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
22.214.171.124 South Africa
126.96.36.199 Rest of Middle-East and Africa
5.3.5 South America
188.8.131.52 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Siemens Healthcare GmbH
6.1.2 Canon Medical Systems Corporation
6.1.3 GE Healthcare
6.1.4 Koninklijke Philips N.V.
6.1.5 Carestream Health
6.1.6 Shimadzu Corporation
6.1.7 FUJIFILM Corporation
6.1.8 ESAOTE SPA
6.1.9 Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
6.1.10 Hologic, Inc.
6.1.11 PLANMED OY
6.1.13 3D Systems, Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Angio Suites Market market is studied from 2019 - 2027.
What is the growth rate of Global Angio Suites Market?
The Global Angio Suites Market is growing at a CAGR of 8.9% over the next 5 years.
Which region has highest growth rate in Global Angio Suites Market?
Asia-Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Angio Suites Market?
North America holds highest share in 2021.
Who are the key players in Global Angio Suites Market?
Canon Medical Systems Corporation, Carestream Health, GE Healthcare, Koninklijke Philips N.V., Siemens Healthcare GmbH are the major companies operating in Global Angio Suites Market.