Market Size of Angio Suites Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 8.90 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | North America |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Angio Suites Market Analysis
The angio suites market is expected to register a CAGR of 8.9% over the forecast period.
The sudden outbreak of the COVID-19 pandemic impacted most of the business sectors, including the angio suites market. Heart disease patients with COVID-19 experience various issues associated with their cardiac health. For instance, as per the article published in July 2022 in the Journal of Invasive Cardiology, the COVID-19 virus had several negative effects on the endothelium, vascular system, and heart, most of which are proinflammatory and prothrombotic. As a result, complications such as deep venous thrombosis, pulmonary embolism, stroke, and acute myocardial infarction (AMI) were likely to occur during the first month of active disease. Hence, such cardiac complications were likely to increase the demand for angio suites during the pandemic. At present, the market has reached its pre-pandemic nature in terms of demand for angio suits due to an increase in cardiac complications and various technological advancements and is expected to witness strong growth in the coming years.
The increasing burden of the geriatric population, cardiovascular diseases, the growing need for minimally invasive surgeries, and rapid technological advancements in diagnostic imaging are among the major factors expected to intensify the growth of the angio suites market.
According to the World Population Prospects 2022 report published by the United Nations, in 2022, there were 771 million people aged 65 years or over globally. The older population is projected to reach 994 million by 2030 and 1.6 billion by 2050. Since the geriatric population is more prone to getting cardiovascular diseases and other chronic illnesses, the rise in the geriatric population is likely to increase the demand for angio suites, which is anticipated to drive market growth. Furthermore, a rise in cardiac complications among the global population is expected to increase the demand for angio suites over the forecast period. For instance, according to the February 2023 update by AIHW, there were 146,000 coronary angiography procedures reported for patients admitted to hospitals in Australia, 97,200 (67%) for males and 48,900 (33%) for females during 2021-22. Hence, the rise in angiography procedures in various regions is expected to fuel market growth. Moreover, an increase in research studies focused on angio suites is likely to depict the advantages offered by the suites and thereby boost market growth. For instance, as per the article published in October 2022 in ScienceDirect, several improvements in angiographic imaging systems technology provide options to decrease radiation exposure. The researchers showed that image resolution was perceived to be better with cine angiography (CA) compared to fluoroscopic capture (FC), although not significantly affected by beam angulation or table height.
Hence, due to the high prevalence of cardiac complications and the increase in the utilization of angio suits, the studied market is expected to witness significant growth over the forecast period. However, the high cost of the installation of the angio suite is expected to restrain the market growth.
Angio Suites Industry Segmentation
As per the scope of the report, the angio suite is like an operating room where an angiographic system is used to perform minimally invasive procedures. A permanently mounted angio suite in an operating room (OR) is known to be a hybrid OR.
The Angio Suites Market is Segmented by Type (Biplane Angio Suites and Single Plane Angio Suites), Application (Angioplasty, Therapeutic Stenting, Obstruction Bypass, and Other Applications), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the market size in value terms in USD for all the abovementioned segments.
By Type | |
Biplane Angio Suites | |
Single Plane Angio Suites |
By Application | |
Angioplasty | |
Therapeutic Stenting | |
Angiograms | |
Obstruction Bypass | |
Others |
Geography | ||||||||
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Angio Suites Market Size Summary
The angio suites market is poised for robust growth, driven by the increasing prevalence of cardiovascular diseases and the rising demand for minimally invasive surgical procedures. The market, which experienced a temporary setback due to the COVID-19 pandemic, has rebounded to its pre-pandemic state, bolstered by technological advancements and a surge in cardiac complications. The geriatric population, more susceptible to cardiovascular ailments, is a significant factor contributing to the market's expansion. As the global population ages, the demand for angio suites is expected to rise, further fueled by the growing number of angiography procedures and research studies highlighting the benefits of advanced angiographic imaging systems. Despite the high installation costs of angio suites, the market is anticipated to witness significant growth over the forecast period.
North America is projected to hold a substantial share of the angio suites market, supported by increased investments in healthcare infrastructure and technological innovations. The region's growing burden of cardiovascular diseases is a key driver of market growth, with governments investing in modernizing health facilities and integrating advanced medical devices. The market is characterized by its fragmented nature, with numerous international and local companies competing for market share. Notable players include Siemens Healthcare GmbH, Canon Medical Systems Corporation, GE Healthcare, and Koninklijke Philips NV, among others. Recent advancements, such as the development of the Philips Spectral Angio CT suite and Siemens Healthineers' Artis icono ceiling system, underscore the ongoing innovation within the market, promising to enhance treatment procedures and drive further growth.
Angio Suites Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Burden of Geriatric Population Coupled with Cardiovascular Diseases
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1.2.2 Growing Demand for Minimally Invasive Surgeries and Rise in Technological Advances in Angio Suites
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1.3 Market Restraints
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1.3.1 High Cost Associated with Installation
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Type
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2.1.1 Biplane Angio Suites
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2.1.2 Single Plane Angio Suites
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2.2 By Application
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2.2.1 Angioplasty
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2.2.2 Therapeutic Stenting
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2.2.3 Angiograms
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2.2.4 Obstruction Bypass
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2.2.5 Others
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Angio Suites Market Size FAQs
What is the current Global Angio Suites Market size?
The Global Angio Suites Market is projected to register a CAGR of 8.90% during the forecast period (2024-2029)
Who are the key players in Global Angio Suites Market?
Canon Medical Systems Corporation, Carestream Health, Koninklijke Philips N.V., Siemens Healthcare GmbH and GE Healthcare are the major companies operating in the Global Angio Suites Market.