The Angio suites market is equipped with medical imaging systems and medical devices that are used in image guided vascular interventions and endovascular surgeries. Angio suites help in minimally invasive procedures and provides real-time images along with advanced guidance and navigation capabilities.
The Angio Suites Market is estimated to be valued at USD 2.06 Bn in 2024 and is expected to reach USD 3.05 Bn by 2031, growing at a compound annual growth rate (CAGR) of 5.8% from 2024 to 2031.
Key Takeaways
Key players operating in the Angio Suites are Siemens, Koninklijke Philips N.V., Hitachi, Ltd., General Electric, Shimadzu Corporation.
The key players are focusing on product innovations and developments to consolidate their position in the market.
Growing demand for minimally invasive procedures along with new product launches catering to the advance imaging requirements is driving the growth of the angio suites market. Replacement of older and outdated angiography equipment with technologically advanced angio suites is also fueling market growth.
Global expansion strategies including partnerships, mergers and acquisitions by market players has allowed broader geographical reach and increased capacity to serve rapidly growing international healthcare markets.
Market key trends
Digitalization is one of the key trends gaining traction in the angio suites market. The integration of advanced technologies like artificial intelligence, augmented and virtual reality aid in developing smart and digital angio suites. For instance, AI-powered image analytics enhance imaging capabilities and navigation during complex procedures. This improves clinical outcomes.
Porter’s Analysis
Threat of new entrants: High capital investments and stringent regulatory processes pose barriers for new players to enter the market. Bargaining power of buyers: Large group purchasing organizations have better bargaining capability on pricing and product offerings. Bargaining power of suppliers: Dominant suppliers have strong influence on pricing and product designs given specialized parts and materials used. Threat of new substitutes: Image-guided surgeries pose low threat currently but is expected to increase in demand over the forecast period. Competitive rivalry: Major players compete on product innovations, customizing suites as per application needs and geographic expansion to gain market share.
The North American region accounts for the largest share of the global angio suites market in terms of value owing to the high per capita healthcare spending. The U.S. is a major revenue generator with presence of leading players and established healthcare infrastructure. Rising prevalence of chronic diseases and neurological disorders have propelled the regional market growth.
The Asia Pacific region is poised to be the fastest growing market for angio suites during the forecast period attributed to increasing healthcare expenditures, large patient population, and rising affluence. China and India are emerging as lucrative markets backed by growing medical tourism, favourable government policies and expansion of private healthcare providers. Investments in improving diagnostic capabilities and modernization of healthcare facilities will further drive the regional market.
What Are The Key Data Covered In This Angio Suites Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Angio Suites’s growth between 2024 and 2031.
:- Accurate calculation of the size of the Angio Suites and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Angio Suites Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Angio Suites vendors
FAQ’s
Q.1 What are the main factors influencing the Angio Suites?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Angio Suites companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Angio Suites’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it