The global angiography devices market is expected to grow at a 4.4% compound annual growth rate to reach $27.7 billion U.S. (23.5 billion euros) in revenues, according to a new report from market research firm MarketsandMarkets.
The company attributes the healthy growth to rising demand for precise diagnosis and treatment of cardiovascular disease, technology advances, and new product launches. Limiting factors for the market include the high cost of these systems, lack of reimbursement, and stringent regulatory requirements, MarketsandMarkets said.
North America holds the largest share of the global angiography device market, followed closely by Europe, according to the firm. However, MarketsandMarkets predicts that emerging countries in Asia and Latin America will record strong growth during the forecast period.
Countries such as India, China, and Brazil will experience significant market growth, thanks to increasing investments by public and private players to provide healthcare services, large patient populations, and the focus of leading vendors on capturing growth opportunities, MarketsandMarkets said.
