Angio suites, also known as angiography suites or cath labs, provide integrated imaging and therapeutic capabilities to support minimally invasive cardiovascular procedures. Angio suites allow physicians to reliably visualize coronary arteries and other blood vessels in order to guide the placement of stents, balloons and other medical devices. Some of the key advantages of angio suites include their ability to quickly perform angiography and interventional cardiology procedures with high image quality. The growing burden of cardiovascular diseases worldwide has increased the demand for minimally invasive treatments such as angiography and angioplasty procedures performed using angio suites.
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.
Growing investments in healthcare infrastructure development across emerging economies and increasing government initiatives to curb cardiovascular disease burden are expected to open lucrative growth opportunities for angio suites providers.
Technological innovations in medical imaging systems such as the introduction of flat panel detectors, advanced visualization solutions and miniaturized mobile c-arms are supporting higher quality imaging and minimally invasive treatments within angio suites.
Market Drivers
Rapid growth in the elderly population who are at higher risk of cardiovascular diseases is a key factor driving the demand for angioplasty and angiography procedures performed using angio suites. As per estimates, over 1.8 billion people worldwide will be aged over 60 years by 2050. The rising prevalence of lifestyle diseases such as diabetes and obesity that increase the risk of heart conditions is also fueling the need for angio suites.
Current Challenges in Angio Suites market:
The angiography suites market is facing challenges due to the high cost of angiography equipment. The prices of angiography systems are quite substantial which poses significant financial burden, especially on healthcare providers from developing regions. Additionally, the maintenance and servicing of these angiography suites also adds to the overall cost. Moreover, lack of adequate healthcare infrastructure and budget constraints in low and middle-income countries further hampers the adoption of advanced angiography suites. The dearth of skilled professionals to efficiently operate the complex angiography systems is another area of concern. Continuous technical advancements have also increased the complexity of these systems, requiring extensive training of medical professionals. Furthermore, reimbursement issues related to angiography procedures act as a deterrent in penetrating untapped regional markets.
SWOT Analysis
Strength: High resolution imaging capabilities enables interventional specialists to effectively visualize blood vessels. Portable angiography systems offer mobility and flexibility.
Weakness: Require heavy capital investments and involve high maintenance costs. Complex workflow and operational settings demand expert knowledge.
Opportunity: Growth in geriatric population susceptible to cardiovascular ailments. Rising healthcare expenditures in emerging nations to fuel demand. Technological advancements facilitating minimally invasive procedures.
Threats: Risk of image quality issues and equipment malfunctions. Stringent regulatory approvals for new product launches. Cost sensitivity in price-controlled healthcare markets.
The Asia Pacific region currently represents the largest geographical market for angio suites, accounting for over 35% of the global revenue. Rapidly developing healthcare infrastructure, growing medical tourism industry and massive patient pool driving the regional market growth. China, India and Japan are the key country-level markets in the Asia Pacific. North America holds the second largest share in the angio suites market led by technologically advanced healthcare facilities and rising prevalence of CVDs in the US and Canada. Europe captures a significant share due to favorable reimbursement schemes and government funding. Latin America and Middle East & Africa are the fastest growing regional markets attributed to increasing healthcare access and expenditures.
The fastest growing regional market for angio suites is expected to be Asia Pacific during the forecast period. This is majorly attributed to rapidly developing healthcare infrastructure, increasing healthcare spending, large patient population base and rising incidence of lifestyle diseases in Asia Pacific countries especially in China and India. The presence of untapped opportunities and growing medical tourism industry also support the market growth in this region.
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
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. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.