New York, Sept. 06, 2023 (GLOBE NEWSWIRE) -- The global revenue from angiography catheters was roughly US$ 1.4 billion in 2022, with the global market expected to grow at a CAGR of 6.5% to approximately US$ 2.7 billion by the end of 2033.
The angiography catheters market has experienced significant growth in recent years due to the rising prevalence of cardiovascular diseases and the increasing demand for minimally invasive diagnostic and therapeutic procedures.
This research report provides a detailed analysis of the angiography catheters market, including market size, growth factors, key players, technological advancements, and future prospects. It also explores regional trends and the competitive landscape to offer valuable insights into this rapidly evolving healthcare segment.
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Angiography catheters are medical devices used in diagnostic and interventional procedures to visualize blood vessels and the heart's chambers. These catheters play a crucial role in the diagnosis and treatment of various cardiovascular diseases, making them an integral part of modern healthcare. This research report delves into the current state of the angiography catheters market and its potential for growth.
Market Segmentation
The angiography catheters market can be segmented by product type, application, end-user, and geography. Common product types include diagnostic catheters, guiding catheters, and angioplasty catheters, while applications range from coronary angiography to peripheral angiography. End-users include hospitals, diagnostic centers, and ambulatory surgical centers.
Top Key market players include:
- Cordis, a Cardinal Health company
- Medtronic
- Boston Scientific Corporation
- AngioDynamics
- Cook Medical
- Merit Medical Systems, Inc.
- Cook Medical
- Terumo Interventional Systems
- Abbott Laboratories
- Alvimedica Medical Device
The angiography catheters market has witnessed substantial growth in recent years. Factors such as the increasing incidence of cardiovascular diseases, technological advancements in catheter design, and a growing preference for minimally invasive procedures have contributed to this growth.
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Market Dynamics:
Drivers
- Rising prevalence of cardiovascular diseases
- Advancements in catheter materials and designs
- Increasing adoption of minimally invasive procedures
- Expanding geriatric population
- Growing healthcare infrastructure in emerging markets
Restraints
- High cost associated with angiography procedures
- Limited availability of skilled healthcare professionals
- Stringent regulatory requirements
Opportunities
- Development of novel catheter materials
- Expanding applications of angiography catheters
- Penetration of angiography catheters in emerging markets
- Integration of robotics and AI in angiography procedures
Technological Advancements:
The angiography catheters market has witnessed significant technological advancements in recent years. These include the development of catheters with improved flexibility, enhanced imaging capabilities, and reduced radiation exposure. Moreover, the integration of robotics and artificial intelligence (AI) has revolutionized catheter guidance and navigation during procedures, leading to better patient outcomes.
Regional Analysis:
The angiography catheters market is geographically diverse, with North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa being the key regions. North America and Europe have traditionally dominated the market due to advanced healthcare infrastructure and high healthcare spending. However, Asia-Pacific is expected to witness the fastest growth, driven by a rising patient population, increasing healthcare investments, and expanding awareness of minimally invasive procedures.
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Competitive Landscape:
To maintain their market leadership in the angiographic catheters industry, prominent manufacturers are continually innovating and creating new products. They are also focused on expanding their revenue share, which is critical for maintaining their market position. These companies offer a diverse product portfolio that includes a wide range of features, allowing them to compete on a worldwide scale.
Recent Developments:
- The Cardinal Health company announced the full U.S. introduction of Cordis' RADIAL 360 portfolio, which offers a comprehensive range of instruments to support the transradial approach (TRA) for interventional cardiology operations, in May 2019.
- In Europe, the PrevailTM drug-coated balloon catheter will be available in July 2021. This latest coronary DCB is used to treat persons with coronary artery disease who have blocked or constricted coronary arteries.
Future Outlook:
The angiography catheters market is poised for continued growth in the coming years. Technological advancements, expanding applications, and increasing demand for minimally invasive procedures will be key drivers of this growth. Moreover, the market is likely to witness further consolidation as major players seek to expand their product portfolios and geographical presence.
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