LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global angiography devices market to grow at a CAGR of more than 6% during the forecast period, according to their latest report.
The market study covers the present scenario and growth prospects of the global angiography devices market for 2017-2021. The report also lists angioplasty balloons, vascular closure devices, vascular guidewires, and embolic protection devices as the four major product segments.
According to Srinivas Sashidhar, a lead analyst at Technavio for cardiovascular devices research, “The sales of angiography devices will increase due to a rise in the incidence of cardiovascular diseases as treatment involves the use of these devices to prevent heart attacks and strokes.”
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Technavio healthcare and life sciences analysts highlight the following three market drivers that are contributing to the growth of the global angiography devices market:
- Rising incidence of cardiac diseases
- Venture capitals for market entry of start-ups
- Minimally invasive procedures with improved medical imaging
Rising incidence of cardiac diseases
There is a worldwide increase in the incidence of cardiac diseases. In 2015, the CDC estimated that these diseases caused about 610,000 deaths in the US. The organization also estimated that coronary heart disease was the most common cardiac disease.
Physicians perform coronary angioplasty and stenting to treat coronary heart disease. Angiography involves the insertion of a stent, a small wire mesh tube, to decrease the chances of narrowing of the arterial walls. While performing carotid artery stenting, plaques may breakdown into small debris and enter the blood stream causing stroke. To prevent this risk, physicians use embolic protection devices to remove the debris and insert a filter that reduces the chances of stroke.
Venture capital for market entry of start-ups
New players approach venture capitalists to enter niche markets such as the area of embolic protection devices. These capitalists have started realizing the significant potential of start-ups that develop innovative technologies and products in cardiovascular diseases. This has increased the financial flow support from venture capitalists, which is accelerating the development of embolic protection devices and is leading the market entry of start-ups. Post registration and market approvals, venture capitalists take a share from the total revenue generated by start-ups.
Minimally invasive procedures with improved medical imaging
Medical facilities worldwide are shifting toward minimally invasive procedures that involve the use of radiotherapy and imaging technologies, expanding the treatment options for peripheral vascular diseases (PVDs) such as deep vein thrombosis. To treat the disease, physicians perform angioplasty or insert stents in the blood vessels through minimally invasive surgeries. These methods help minimize trauma and pain and reduce the risks of infection in blood vessels. Minimally invasive surgeries are assisted with MRI technology for improved imaging and better insertion of embolic protection devices.
“Many medical facilities are using 3D MRI techniques for the improved imaging of the heart. The use of these imaging techniques will increase the demand for cardiac surgeries, particularly minimally invasive technology-based surgeries,” says Srinivas.
Browse Related Reports:
- Global Embolic Protection Devices Market 2016-2020
- Global Vascular Closure Devices Market 2016-2020
- Global Angiography Catheters Market 2017-2021
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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