The angio suites market consists of medical device systems that facilitate angiography procedures. Angio suites, also known as interventional radiology suites or cath labs, are examination rooms equipped with imaging and monitoring systems needed for minimally invasive diagnostic and treatment procedures involving blood vessels. Modern angio suites integrate equipment like medical x-ray source and imaging systems, hemodynamic recording systems, patient monitoring devices, interventional therapy devices and other integrated communication tools. These help physicians perform angiography, angioplasty, atherectomy and other procedures. The global growth in elderly population suffering from cardiovascular ailments has increased the demand for angiography significantly.Advances in interventional radiology techniques have also widened the scope of angio suites and assisted in non-invasive treatments for various conditions.
The Angio Suites Market is estimated to be valued at USD 2.06 Bn in 2024 and is expected to reach USD 3.05 Bn by 2031, growing at a compound annual growth rate (CAGR) of 5.8% from 2024 to 2031.
Key Takeaways
Key players operating in the Angio Suites are Siemens, Koninklijke Philips N.V., Hitachi, Ltd., General Electric, Shimadzu Corporation.
Siemens and Philips collectively dominate over 50% of the global angio suites market. These leaders are focusing on software and hardware innovations to integrate operating room equipment for improved precision and workflow during interventional procedures.
The growing global burden of cardiovascular diseases, obesity, and a geriatric population has significantly increased demand for minimally-invasive angiography procedures in recent years. Advanced healthcare infrastructure and rising medical tourism in developing nations is also fueling the sales of new angio suites systems.
Major players are expanding their global footprint through partnerships, mergers and new product launches. In 2021, Shimadzu partnered with U.S based Breakaway Ltd. to distribute their interventional radiology suites. Meanwhile, GE Healthcare invested over $250 million to expand their medical device manufacturing operations in Poland and China. This is expected to strengthen supply capabilities and provider networks globally.
Market Drivers
The increasing incidence of target diseases such as cardiovascular, oncology and vascular conditions is a major growth driver for the angio suites market. According to WHO, cardiovascular diseases are the leading global cause of mortality with over 17.9 million deaths annually. As angiography plays a key role in diagnosis and treatment of CVDs, rising morbidity will augment demand for angio suites. Additionally, growing applications of angio suites for neurointerventional, spinal and pulmonary embolism procedures over the forecast period will further fuel revenues. Vendors are also continuously launching advanced integrated imaging and monitoring solutions with improved functionalities to enable better clinical outcomes. This is expected to attract more hospitals and diagnostic centers to adopt new technology enhanced angio suites.
The current geopolitical uncertainties and regional conflicts are impacting the growth of the Angio Suites market. The market is witnessing slower growth in the Middle East and African region due to ongoing geopolitical tensions and political instability in countries like Syria, Yemen, Libya etc. The trade restrictions and economic sanctions imposed by Western nations on Russia due to its military operations in Ukraine are negatively impacting the medical devices market in Eastern Europe. This is hampering the growth and adoption of new Angio suites in Russia and other CIS countries.
However, the growing investment and healthcare reforms by various governments worldwide are expected to create new opportunities. The increasing demand for minimal invasive surgeries and rising prevalence of lifestyle diseases are key drivers of the Angio suites market. The market players need to focus on strategies like strategic partnerships, expansions and new product launches to gain opportunity from the fast growing Asia Pacific region. Countries like China, India, Japan and South Korea are expected to drive the future growth of this market due to rapidly developing healthcare infrastructure, rising medical tourism and growing per capita healthcare spends.
In terms of value, North America dominated the global Angio suites market and held around 35-40% share in 2024 due to high awareness, advanced healthcare facilities and presence of leading market players. However, the Asia Pacific region is poised to be the fastest growing market during the forecast period supported by unmet medical needs of large patient population and improving access to healthcare services. Countries like China and India are emerging as highly lucrative markets for Angio suites providers.
Europe is also a significant regional market for Angio suites currently accounting for around 30% global value share. However, market growth could be hampered due to budgetary constraints faced by various European countries for healthcare modernization programs. Growing medical tourism and influx of patients from other regions are expected to support the growth of high-income nations in Europe. Germany, U.K and France have emerged as major European hubs for Angio suites solutions with well-established reimbursement structures and universal healthcare systems.
Get more insights on this topic https://www.zupyak.com/p/4286949/t/angio-suites-market-is-anticipated-to-witness-high-growth-owing-to-rising-angiography-procedures
About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
What Are The Key Data Covered In This Angio Suites Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Angio Suites's growth between 2024 and 2031.
:- Accurate calculation of the size of the Angio Suites and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Angio Suites Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Angio Suites vendors
FAQ’s
Q.1 What are the main factors influencing the Angio Suites?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Angio Suites companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Angio Suites’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it