New York, Oct. 30, 2023 (GLOBE NEWSWIRE) -- The global angio suites market size is slated to expand at ~9% CAGR between 2023 and 2035. The market is poised to garner a revenue of USD 849 billion by the end of 2035, up from a revenue of ~USD 367 billion in the year 2022. This growth of the market is poised to rise on account of growth in number of diabetes patients. According the World Health Organization, a total of 422 million people globally has diabetes, most of whom reside in low- and middle-income nations. Diabetes is directly responsible for 1.5 million fatalities annually. As a result, the demand for angio suites is estimated to rise.
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Diabetes patients are more likely to develop coronary artery disease, and those who undergo coronary revascularization procedures possess a higher risk of mortality and morbidity. For instance, in a survey conducted by National Library of Medicine, in comparison to 103 (9.5%) of 1093 patients assigned to MT during equal follow-up durations, 74 (3.5%) of 2120 patients assigned to CABG and 68 (4.2%) of 1621 patients assigned to PCI died. As a result, the demand for angio suites is rising since it has low mortality rate than surgery.
Rising Geriatric Population to Boost the Growth of Global Angio Suites Market
The number of older patients has grown along with the rise in life expectancy globally. According the World Health Organization, one in six individuals on the globe is projected to be 60 or older by 2030. By this point, there is expected to be 1.4 billion people over the age of 60, up from 1 billion in 2020. The number of individuals in the world who are 60 or older will double (to 2.1 billion) by 2050. However, the elderly population has particular requirements since of their numerous comorbidities. Hence, the surgeries cannot be performed on geriatric population which is why the market revenue for angio suites is rising.
Angio Suites Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Growth in Number of People Living Sedentary Lifestyle to Drive the Market Growth in North America
The angio suites market in North America is projected to capture the highest market share of about ~35% over the coming years. This growth in this region’s market could be owing to rising number of people living sedentary lifestyle which has further boosted prevalence for cardiovascular disease. Cardiovascular disease claims one life in the United States every 33 seconds. Moreover, in the United States, heart disease claimed the lives of about 695,000 persons in 2021, accounting for 1 in 5 fatalities. Hence, the market for angio suites is rising in this region.
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Rise in Prevalence of Obesity to Influence the Market Expansion in Asia Pacific
The Asia Pacific market for angio suites is projected to generate the significant share of about ~27% over the forecast period. The major element for this growth is rising prevalence of obesity. In Asia, 2 out of 5 persons are classified as obese or overweight. Kuwait, Jordan, and Saudi Arabia are the nations with the highest rates of obesity in Asia. In Asia, about 3 out of 5 persons are classified as obese or overweight. Kuwait, Jordan, and Saudi Arabia are the nations with the highest rates of obesity in Asia. Consequently, the market for angio suites in this region is growing.
Angio Suites, Segmentation by Application
- Angioplasty
- Therapeutic Stenting
- Obstruction Bypass
- Intravascular Therapy
The angioplasty segment is projected to generate the largest market share of about ~42% over the projected period. The major factor for the surge in this segment growth in number of people suffering from heart attack backed by rise in number of people consuming alcohol and smoking. As per World Health Organization, alcohol abuse causes 3 million deaths worldwide each year. 5.3% of all deaths were caused by this. Amongst these deaths most of them is caused by cardiovascular. As a result, the segment is estimated to witness growth.
Angio Suites, Segmentation by End User
- Hospitals
- Diagnostic Imaging Centers
- Others
The hospitals segment is poised to have significant growth over the forecast period. This growth of the segment is set to be dominated by growth in number of hospitals. In the year 2021, there were expected to be about 164,000 hospitals worldwide.
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A few of the well-known industry leaders in the angio suites market that are profiled by Research Nester are Siemens Healthcare GmbH, GE HealthCare Technologies Inc., Onex Corporation, Canon Medical Systems Corporation, Carestream Health, Hitachi, Ltd., Koninklijke Philips N.V., 3D Systems Inc., ZEISS International, Hologic, Inc.
Recent Development in the Angio Suites Market
- The Artis Icono Angiography System was introduced by a division of Siemens Healthcare GmbH called Siemens Healthineers. Along with its updated system mechanics, it also has 2D and 3D picture chains that can be smoothly connected and fully integrated with third-party interfaces and integration resources.
- The imaging business "BK Medical" from Boston, Massachusetts, was successfully bought, according to GE HealthCare Technologies Inc. GE's payment of USD 1.45 billion sealed the deal on the acquisition. GE Healthcare's ultrasound division has grown stronger as a result of the deal.
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