Angio Suites Market size is projected to reach $2.2 billion by 2026, growing at a CAGR of 6.7% during the forecast period 2021-2026. Angio suites offers most advanced imaging capabilities that have improved spatial resolution and provides both diagnostic as well as interventional care to eliminate or reduce the pain. The services that are offered in angio suites includes aortic dissection, carotid artery diseases, traumatic aortic injury, and abdominal aortic aneurysm among others. Angio suites provides both symptomatic as well as interventional care to dispose of the torment and it serves as a multi purpose examination rooms .Rising prevalence of cardiovascular diseases and government funding along with the support for development of new innovative medical device are the major factors driving the growth of the market. Increasing demand of angio suites for the treatment of peripheral artery diseases is set to further enhance the overall market development for the Angio Suites Market for the period 2021-2026.
Angio Suites Market Segment Analysis – By Type
Biplane Angio Suites held the largest share in the Angio Suites Market in 2020 and is estimated to grow at a CAGR 7.3% during the forecast period 2026. Biplane angio suites capture image data from detector and are able to acquire images faster. It is useful in electrophysiology and neurovascular procedures. The demand for biplane angio suites is increasing owing to the fact that it perform a workflow from medical images to morphological characterization of the parent vessels along with the fluid dynamic simulation results. It helps the clinicians to access the rupture risk and opt for the best treatment option as it is predominantly used by neurocardiologists and can give physicians a simulated 3 D view of organs and blood vessels in real time. Biplane Angio Suites are set to the highest growing segment and are estimated to register the highest CAGR over the period 2021-2026.
Angio Suites Market Segment Analysis – By Application
Cath Labs held the largest share in the Angio Suites Market in 2020 and is estimated to grow at a CAGR 7.0% during the forecast period 2026. This is attributed to the emergence of new technologies to address emerging cath lab trends such as to reduce radiation dose, enable advanced procedural image guidance, and improve image quality. More complex procedures are attempted in interventional cardiology cath labs so these have become increasingly important. Several key players in U.S. introduced new technologies for angio suites to reduce dose and enhance visualization in the cath labs along with the stents and other devices. Cath Labs are set to the highest growing segment and are estimated to register the highest CAGR over the period 2021-2026.
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Angio Suites Market Segment Analysis – By Geography
Asia Pacific dominated the Angio Market with a major share of 38.9% in 2020. This is attributed to the increasing usage of angio suites in therapeutics and rising prevalence of cardiovascular disease. Developing occurrence of ailments that are dangerous have brought ascent in quantity of diagnostics systems and also by incrementing the imaging is increasing the growth of the market in this region.
However, North America is estimated to grow at a higher CAGR during the forecast period 2021-2026 owing to the increasing government funding. Advancement of clinical practice rules is also increasing the growth of the market in this region.
Angio Suites Market Drivers
Rising Prevalence of Cardiovascular Diseases
Rising prevalence of cardiovascular diseases is increasing the growth of the Angio Suites Market. Leading cause of death around the world is owing to the cardiovascular diseases. It is estimated that around 29% of the death is owing to the cardiovascular diseases. 40.5% of the U.S. population suffers from the diseases, according to the American Heart Association and the total cost of the disease from 2010 to 2030 is set to be almost three times from $273Billion to $818Billion. Thus, increasing the growth of the Angio Suites Market during the forecast period 2021-2026.
Government funding for Development of New Innovative Medical Devices
Government funding for development of new innovative medical devices is increasing the growth of the Angio Suites Market. This is mainly attributed to the growing incidences of life threatening diseases. According to an estimation it is expected that the direct and indirect costs of imaging and diagnosis is set to increase over a period of time. Various governments in developed countries are actively funding to develop cost effective and efficient medical devices. A state government from Australia has funded about $8 Million to help encourage and support investments in the development and commercialization of technologies and medical devices. Thus, increasing the growth of the Angio Suites Market during the forecast period 2021-2026.
Angio Suites Market Challenges
Lack of Skilled Professionals and Standard Usage Guidelines
Some of the factors that are set to impede the growth of the Angio Suites Market are lack of skilled professionals and standard usage guidelines. Lack of proper healthcare infrastructure and inappropriate execution along with the advancement of clinical practice rules is set to hinder the growth of the market.
Angio Suites Market Landscape
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Angio Suites Market. In 2020, the Angio Suites Market share is consolidated by the top ten players present in the market. Angio Suites Market, top 10 companies are Simens Healthcare, Canon Medical Systems, GE Healthcare, Philips Healthcare, 3 D Systems, IMRIS, Shimadzu, Lam Vascular, and Gimias among others.
Key Takeaways
Asia-Pacific dominated the Angio Suites Market in 2020 owing to the increasing demand of angio suites by the virtual patients and ever increasing complexity of new interventional procedures. The Angio Suites Market scope for different regions will be provided in the final report.
Increasing usage of angio suites in therapeutic and surgery free removal of tissue specimen along with the increasing innovative approach to the treatment of vascular disease using angio suites are likely to aid the market growth of the Angio Suites Market.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Angio Suites Market report.
Lack of skilled professionals and standard usage guidelines is poised to create hurdles for the Angio Suites Market.
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