The global angiography equipment market is projected to reach USD 13.06 billion by 2023 from USD 9.77 billion in 2017, at a CAGR of 5.0% during the forecast period.
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How will technological advancements create opportunities for players in the angiography equipment market?
The need to reduce radiation doses, enhance image quality, and enable advanced procedural image guidance are some of the current areas of focus for manufacturers of angiography systems. Some new and innovative systems offer advanced digital and 3D imaging with rotational angiography for improved image quality. For example, GE Healthcare’s CardioGraphe, a dedicated cardiovascular CT system launched in 2017, is the first CT system designed specifically for high-performance cardiovascular imaging at an affordable price. It creates a 3D image of the coronaries, valves, chambers, and myocardium in one heartbeat and can also perform CT angiography studies beyond the heart, including the aorta and carotids.
The advantages of these novel and innovative systems over their traditional counterparts will ensure their adoption in the years to come, as physicians seek to provide the safest and most effective healthcare possible.
How will product recalls challenge the growth of the angiography equipment market in the years to come?
Over the years, several products have been recalled from the market due to malfunctions or other issues. Product failures due to malfunctioning of peripheral vascular devices can have severe complications in patients, and can also result in their death. This has affected the uptake of these devices and thereby hindered the growth of the market to a certain extent.
In 2017, Customed, Inc. (US) recalled its angiography/angioplasty kit due to inadequate validation/qualification of sterilization processes and package integrity. Similarly, in 2017, Abbott Vascular (US), recalled nearly 449,661 coronary balloon catheters due to 19 reports of injury and one report of a death associated with difficulties in removing the protective balloon sheath, resulting in issues with inflating or deflating the balloon.
Such market developments can have a negative impact on the end-user perception of the safety of devices and, in turn, affect their adoption in treatment procedures.
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