Angiography Equipment Market (By Technology: X-Ray, MRA, CT; By Product: Angiography Systems, Contrast Media; By Procedure; By Application) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2024-2033

The global angiography equipment market size was estimated at around USD 10.58 billion in 2023 and it is projected to hit around USD 18.82 billion by 2033, growing at a CAGR of 5.93% from 2024 to 2033. 

Key Pointers

• North America led the market with a share of 34% in 2023.
• Asia Pacific is expected to emerge as the fastest-growing region with the largest CAGR of 6.28% over the forecast period.
• By Product The angiography systems segment led the market with a share of 27% in 2023.
• By Product Contrast media is expected to be the fastest-growing product segment with a CAGR of 6.35% over the forecast period.
• By Technology The X-ray segment contributed the largest market share of 37% in 2023.
• By Technology MRA is expected to be the fastest-expanding segment with a CAGR of 6.37% between 2024 to 2033.
• By Procedure The coronary angiography segment dominated the market with a share of 46% in 2023.
• By Application The diagnostic application segment dominated the market with the market share of 59% in 2023 and is expected to witness the fastest CAGR of 6.17% between 2024 to 2033.

Angiography Equipment Market by Overview

The global angiography equipment market has witnessed significant growth in recent years, driven by advancements in medical imaging technology and an increasing prevalence of cardiovascular diseases. This overview aims to provide insights into the key factors shaping the angiography equipment market, including market trends, growth drivers, challenges, and notable players in the industry.

Angiography Equipment Market Growth 

The Angiography Equipment Market is experiencing robust growth, propelled by several key factors. Technological advancements in medical imaging, including the integration of artificial intelligence and the development of 3D angiography, have significantly enhanced the precision and efficiency of diagnostic procedures. Moreover, the escalating global prevalence of cardiovascular diseases has driven an increased demand for angiography procedures, further contributing to market growth. The rising preference for minimally invasive procedures, which offer quicker recovery times, has also played a pivotal role in fueling the demand for angiography equipment. Additionally, factors such as the aging population, with its heightened susceptibility to cardiovascular ailments, and government initiatives aimed at improving healthcare infrastructure and accessibility to advanced medical technologies, are key drivers fostering the expansion of the angiography equipment market. Despite challenges related to high equipment costs and stringent regulatory approvals, the market's trajectory remains positive, with continuous innovation and collaboration among industry stakeholders contributing to sustained growth.

Report Scope of the Angiography Equipment Market

Angiography Equipment Market Trends  

• Increased Prevalence of Cardiovascular Diseases: A significant trend contributing to market growth is the rising incidence of cardiovascular diseases globally. As cardiovascular ailments become more prevalent, there is a corresponding increase in the demand for angiography procedures, positioning the market for sustained expansion.
• Rise in Minimally Invasive Procedures: The market is experiencing a shift towards minimally invasive procedures. Both patients and healthcare providers are increasingly opting for techniques that offer quicker recovery times and reduced complications, driving the adoption of angiography equipment for such procedures.
• Integration of Artificial Intelligence (AI): The incorporation of artificial intelligence in angiography equipment is emerging as a key trend. AI enhances image analysis, aids in real-time decision-making, and contributes to more accurate diagnoses, thereby improving the overall efficiency of angiography procedures.
• Growing Focus on Hybrid Operating Rooms: There is a growing trend towards the development of hybrid operating rooms, where angiography equipment is integrated with other surgical tools. This trend is fostering a seamless and multidisciplinary approach in healthcare settings, improving patient outcomes and driving market growth.
• Remote Angiography Services: The market is witnessing a rise in the adoption of remote angiography services, facilitated by advancements in telemedicine and connectivity. This trend allows for more widespread access to angiography procedures, particularly in remote or underserved areas.
• Emphasis on Radiation Reduction: With a focus on patient safety, there is an increasing emphasis on reducing radiation exposure during angiography procedures. Manufacturers are incorporating technologies to minimize radiation doses, aligning with the industry's commitment to patient well-being.
• Personalized Medicine and Precision Diagnosis: The trend towards personalized medicine is influencing the angiography equipment market, with a growing focus on tailoring diagnostic and treatment approaches based on individual patient characteristics. This trend aligns with the broader healthcare shift towards precision medicine.

Product Insights

The angiography systems segment led the market with a share of 27% in 2023 due to continuous investments, technological advancements, and growing scope of applications. These systems have evolved from catheter-based minimally invasive procedures to digitalized procedures. In June 2022, MicroPort Scientific Corporation launched the MicroPort Argus optical coherence tomography (OCT) system, featuring OCT as a main endoluminal imaging technology due to its high-resolution feature aiding the customization of treatment for various patients.

The global market is segmented into accessories, systems, guidewires, catheters, balloons, vascular closure devices, and contrast media. Contrast media is expected to be the fastest-growing product segment with a CAGR of 6.35% over the forecast period. These products are widely used for enhancing the visibility of blood vessels in imaging techniques, such as CT angiography, MRA, and X-ray. It is also used in projectional radiography and fluoroscopy. Various radiocontrast agents used are iodine, barium-sulfate, and gadolinium. In November 2022, GE HealthCare announced a USD 80 million investment in expanding its iodinated contrast media production capacity in Norway by 30%, creating 100 new jobs.

Technology Insights

The X-ray segment contributed the largest market share of 37% in 2023. Based on technology, the market is segmented into X-ray, MRA, and CT. Companies are investing heavily in developing new technologies, which is expected to support market growth. The need for reduction of radiation dose, improvement in image quality, and emerging cath lab trends are expected to drive the market. In July 2022, Siemens Healthineers launched Mobilett Impact, a wireless mobile X-ray system, to facilitate scans at the patient’s bedside, increasing the convenience of procedures.

MRA is expected to be the fastest-expanding segment with a CAGR of 6.37% over the forecast period, owing to its advantage of negligible exposure to radiation in the diagnosis of heart disease. MRA offers 3D capabilities to acquire images in any anatomical plane with excellent soft tissue contrast. The emergence of 3.0T MR imaging has significantly enhanced the diagnosis of coronary artery disease. These factors are also said to boost the segment growth.

In June 2022, Siemens Healthineers launched the Artis icono ceiling angiography system, featuring precise tumor embolization and 2D and 3D imaging of tumors. It has multidisciplinary usability and provides seamless integration with third-party software and interfaces. 

Procedure Insights

The coronary angiography segment dominated the market with a share of 46% in 2023. The rising prevalence of Coronary Artery Disease (CAD) and the availability of less-invasive imaging modalities are escalating the demand for coronary angiography in developing countries, such as China and India. As per the Centers for Disease Control and Prevention (CDC), CAD is the most common heart disease, killing 375,476 people in 2021. About 5% of adults are diagnosed with CAD, and around 20% of CAD deaths occur in adults aged less than 65 years.

In terms of procedure, the market is segmented into coronary, endovascular, and neurovascular. Constant developments in imaging technology have enabled better diagnosis of the disease. The imaging skill has observed change from single slice CT to multislice CT, providing excellent visualization and assessment of CAD. A wide range of options available for diagnosis include coronary CT angiography, cardiac Magnetic Resonance Imaging (MRI), cardiac Single Photon Emission Computed Tomography (SPECT), Positron Emission Tomography (PET), and integrated SPECT/CT and PET/CT.

Application Insights

The diagnostic application segment dominated the market with the market share of 59% in 2023 and is expected to witness the fastest CAGR of 6.17% during the forecast period. Developments in CTA and MRA provide appropriate information in cardiology and neurology, such as cerebral aneurysms, acute stroke, brain arteriovenous malformation, dural arteriovenous fistula, suspected cerebral vasculitis, and occlusive diseases.

Rising awareness about CVDs and associated risk factors is expected to drive the market. Globally, CAD accounts for the maximum number of deaths and disabilities. The joint initiatives of the WHO and state governments to increase awareness about heart diseases and their underlying causes are further expected to contribute to the angiography equipment market growth.

Regional Insights

North America led the market with a share of 34% in 2023 and is likely to expand further due to the increasing geriatric population and prevalence of CVDs in the region. The presence of major companies in the U.S. is attributed to the major share of the regional market. Europe is also anticipated to witness significant growth over the coming years due to the presence of a majority of local and foreign manufacturers. Growing demand for advanced medical devices and the prevalence of CVD are expected to drive the regional market.

Asia Pacific is expected to emerge as the fastest-growing region with the largest CAGR of 6.28% over the forecast period. Favorable reimbursement policies promoting technological advancements support the region’s growth. The regulatory scenario is not stringent in countries such as South Korea, Brazil, and India, offering an attractive opportunity for global companies to set their footprints in these markets. China is undergoing consolidation to upgrade the quality of this equipment.

Rising imports from the largest market players, such as GE Healthcare, Siemens Healthcare, and Koninklijke Philips N.V., are fueling the growth of the Chinese angiography market. In December 2020, GE Healthcare launched the latest version of its robotic angiography system Allia IGS 7 angiography system for image-guided therapy, operating on a wheeled gantry for better accessibility and transportability.  

Angiography Equipment Market Key Companies 

• Medtronic plc
• Boston Scientific Corporation
• ANGIODYNAMICS
• Abbott
• Microport Scientific Corporation
• B. BRAUN MELSUNGEN AG
• KONINKLIJKE PHILIPS N.V.
• GE Healthcare
• Cardinal Health
• Siemens Healthcare GmbH
• SHIMADZU CORPORATION

Angiography Equipment Market Report Segmentations:

By Product

• Angiography Systems
• Catheters
• Guidewire
• Balloons
• Contrast Media
• Vascular Closure Devices
• Angiography Accessories

By Technology

• X-Ray
• MRA
• CT

By Procedure

• Coronary
• Endovascular
• Neurovascular

By Application

• Diagnostic
• Therapeutic

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa