The cerebral angiography market is estimated to be valued at US$ 14.96 Bn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Cerebral angiography is a medical imaging technique used to visualize the blood vessels inside the brain and neck. It helps doctors diagnose and treat conditions that affect these blood vessels, such as aneurysms, stenosis, thrombosis, and AV malformations. Using X-ray imaging and a catheter, cerebral angiography allows precise visualization of any abnormalities in cerebral arteries and veins.
Market Dynamics:
The cerebral angiography market is witnessing high growth due to rising prevalence of cerebrovascular diseases such as stroke, cerebral thrombosis, and cerebral aneurysm across the world. According to the World Stroke Organization, every year, 15 million people suffer from stroke worldwide. Stroke is one of the leading causes of death and disability globally. Cerebral angiography plays a crucial role in diagnosis and treatment of various cerebrovascular diseases. Moreover, technological advancements in cerebral angiography systems such as flat panel detectors, 3D cerebral angiography systems are assisting healthcare professionals to better diagnose and treat complex cerebrovascular diseases, thereby propelling the market growth. Additionally, growing demand for minimally invasive angiography procedures is also contributing to market growth.
SWOT Analysis
Strength: Cerebral angiography provides high-quality imaging of the brain’s blood vessels. It allows physicians to accurately diagnose conditions like aneurysms, AV malformations, and arterial blockages. Cerebral angiography also helps surgeons effectively plan and perform minimally invasive procedures.
Weakness: Cerebral angiography requires specialized equipment and skilled radiologists, making the procedure expensive. It also carries risks of bleeding, infection, and other complications associated with catheterization and injection of contrast agents. Some patients may also experience allergic reactions to iodinated contrast media.
Opportunity: Rising incidence of neurological disorders like strokes and brain aneurysms is driving the need for improved diagnosis. Advancements in digital subtraction angiography and 3D reconstruction technologies are enhancing cerebral angiography capabilities. Growing adoption of hybrid operating rooms for endovascular treatments also presents an opportunity.
Threats: Availability of alternative non-invasive imaging modalities like MR angiography and CT angiography poses a threat. Strict regulatory standards and lengthy approval process for new cerebral angiography devices also act as a barrier.
Key Takeaways
The global Cerebral Angiography Market Growth is expected to witness high growth, exhibiting CAGR of 6.1% over the forecast period, due to increasing incidence of neurological disorders. According to WHO, stroke is among the top 10 causes of death globally with over 11 million annual cases. Rising geriatric population also drives the number of aneurysms and brain artery blockages.
Regional analysis: North America currently dominates the global market owing to advanced healthcare infrastructure and rising neurological disease burden in the US and Canada. Asia Pacific exhibits fastest growth backed by growing medical tourism, quick adoption of new technologies, and large patient pool in China and India. Key players are expanding presence in Asia to tap the high-growth opportunities.
Key players operating in the cerebral angiography market are Siemens Healthineers AG, GE Healthcare, Koninklijke Philips N.V., Canon Medical Systems Corporation, Shimadzu Corporation, Hitachi, Ltd., Carestream Health, Inc., Medtronic plc, Stryker Corporation, Terumo Corporation, Boston Scientific Corporation, AngioDynamics, Inc., Penumbra, Inc., MicroPort Scientific Corporation, Cook Medical LLC. Major players are focusing on new product launches, mergers, and acquisitions to strengthen their market position and geographic reach.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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