Market Trends of Angio Suites Industry
Angioplasty by Application Segment is Expected to Witness Growth Over the Forecast Period
Angioplasty is a procedure that is used to open blocked coronary arteries caused by coronary artery disease. The angioplasty segment is anticipated to witness significant growth over the forecast period owing to the rising prevalence of cardiovascular diseases and the increase in angioplasty surgeries conducted across the world. For instance, in December 2022, an International Summit on Complex High-Risk Indicated Procedures (CHIP), focussing on advanced coronary angioplasty techniques in very high-risk patient populations, was conducted in Kochi, Kerala. During the summit, laser angioplasty was introduced in Kerala.
Furthermore, as per America's Health Ranking 2022 annual report, 8% of adults in the United States were reportedly told by a health professional that they had angina or coronary heart disease in 2021. The burden of heart and circulatory disease worldwide has been more prevalent recently, which is expected to utilize the angioplasty treatment and thereby boost the segment growth. Moreover, angioplasty leaves fewer scars, provides reduced side effects from the surgery, has a higher success rate, involves minimal invasion, and ensures speedy recovery; the above factors are majorly responsible for its popularity among patients and healthcare professionals. Hence, new advances and technologies introduced to angioplasty are expected to drive market growth. For instance, in April 2022, the Rotapro Rotational Atherectomy System was launched in India, and Medica Superspecialty Hospital in Kerala cured a 70-year-old suffering from Triple Vessel disease with the use of the Rotapro Rotational Atherectomy system. Rotapro is a hand-operated system, and with the aid of this sophisticated device, patients can undergo safe ablation and have the challenging angioplasty procedure simplified, enabling them to leave the hospital in less than 24 hours.
Thus, due to the high prevalence of cardiac complications and the increase in the utilization of angioplasty treatment, the studied segment is expected to witness significant growth over the forecast period.
North America Anticipated to Hold a Significant Share in the Market Over the Forecast Period
North America is expected to hold a significant share of the market owing to the increasing number of investments, technological advancements, and the increased burden of cardiovascular and other chronic diseases in the region. For instance, according to the American Heart Association, by 2030, 40.5% of the United States population is expected to suffer from cardiovascular disease. This increasing burden of CVDs is anticipated to drive the growth of the studied market in the region.
Adding to that, as per a press release in July 2021, the governments of Canada and Quebec publicized their plans to invest in 209 infrastructure projects to modernize, redevelop, and upgrade health and social services institutions in Quebec, including hospitals, residential and long-term care centers, local community service centers, and rehabilitation centers. The federal Minister of Infrastructure and Communities and Minister of Health and Social Services reported a total of USD 188.3 million in funding for these 209 infrastructure projects. As a result of the development of the infrastructure of hospitals and the implementation of advanced medical devices, the angio suites market is expected to witness significant growth in the studied region.
Therefore, due to the high prevalence of cardiac complications and the increase in investments by the governments, North America is expected to witness significant growth over the forecast period.
