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HEALTHCARE & PHARMACEUTICAL

Robotic Angiography Systems Market Analysis by Technology (X-Ray, CT, and MR Angiography Systems); by Application (Coronary, Endovascular, Neuro, and Onco-Angiography); by Indication (Coronary Artery Disease, Valvular Heart Disease, Congenital Heart Disease, Congestive Heart Failure, and Others); by End-User (Hospitals, Specialty Clinics, Diagnostic & Imaging Centers, and Academic & Research Institutes) – Global Supply & Demand Analysis & Opportunity Outlook 2022-2031

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IN THE NEWS

  • June 13th, 2022: General Electric’s healthcare division, GE Healthcare, announced that it has introduced the new Allia IGS 7 Platform for advancing precision medicine in image guided therapies. This new platform, which has received the Red Dot Design Award for Product Design, provides its users greater flexibility, enabling full mobility in the workplace.

  • November 24th, 2021: Koninklijke Philips N.V.’s healthcare division, Royal Philips, announced the launch of a new hybrid of its spectral CT imaging technology, popularly known as the Spectral CT 7500 system, with its Angio CT suite, known as the Image-Guided therapy System – Azurion with FlexArm. This new technology would give interventionalists immediate table-side access to two key imaging modalities for performing both CT and angio guidance in one single room.

Global Robotic Angiography Systems Market Size, Forecast, and Trend Highlights Over 2022 - 2031

Robotic Angiography Systems

The global robotic angiography systems market is estimated to garner a moderate revenue by the end of 2031 by growing at a CAGR of ~6% over the forecast period, i.e., 2022 – 2031. Further, the market generated a modest revenue in the year 2021. The growth of the market can primarily be attributed to the growing concern for the rising incidence of cardiovascular diseases worldwide, which according to the World Health Organization (WHO) registered about 17.9 million deaths in the year 2019, thereby representing 32% of total number of deaths occurred worldwide.

Robotic Angiography Systems Market Overview

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People with the prevalence of a heart disease are prescribed by cardiologists to undergo the process of angiography, which is a type of electromagnetic radiation diagnosis, used to inspect the blood vessels. Once the blood vessels are investigated, and a potential heart condition is detected, the cardiologists then proceed with the process of angioplasty. With the recent advancements in image guided therapy devices as well as medical robotics, the demand for robot-assisted angiography systems is on the rise amongst the healthcare service providers, which in turn, is expected to create massive revenue generation opportunities for the key players operating in the global robotic angiography systems market during the forecast period. According to the statistics by the International Federation of Robotics (IFR), the unit sales of medical robotics touched 18,000 units in the year 2020, up from 7000 units in the year 2019. Further, the statistics also stated that the sales of medical robotics accounted for 55% of the total turnover of professional service robots in the year 2020, mainly driven by the surge in adoption of robotic surgery devices. Moreover, in terms of value, the turnover increased by 11% to reach USD 3.6 Billion in the year 2020.

Global Robotic Angiography Systems Market: Growth Drivers and Challenges

Growth Drivers

  • Promising Expenditure from Hospitals for the Adoption of Advanced Medical Robotics to Drive the Market Growth

  • According to the statistics by the Centers for Medicare & Medicaid Services (CMS) of the United States government, the hospital expenditure in the United States (U.S.) reached USD 1270.1 Billion in 2020, witnessing a growth of 6.4% in the same year, up from 6.3% in the year 2019. Additionally, according to the statistics by the World Bank, the current health expenditure around the globe as a share of GDP increased from 8.63% in the year 2000 to 9.84% in the year 2019.

  • The rising need of the healthcare service providers to improve workflow efficiency, along with the need for the early diagnosis of diseases, is expected to promote the adoption of these advanced diagnostic systems. Supported by the rising expenditure by hospitals, the adoption of the robotic diagnostic devices amongst the healthcare service providers is anticipated to increase, which in turn, is expected to drive the growth of the global robotic angiography systems market during the forecast period.

Current Health Expenditure

  • Rising Trends of Internet of Medical Things (IoMT)/Internet of Things (IoT) in Healthcare - the market of which is projected to reach a valuation of about USD 162.2 Billion by the end of 2024.

  • Growing Integration of Automation in the Healthcare Industry - the share of healthcare providers who are planning to invest in robotic process automation (RPA) is expected to grow from about 5% to over 50% between 2020 and 2023.

  • Surge in Advancements in Developing Novel Robotic Imaging Solutions - the global robotic-assisted imaging technologies market is expected to grow with a CAGR of ~15% during 2022-2031.

  • Increasing Incidence of Cardiovascular Diseases (CVDs) Globally deaths registered due to CVDs worldwide was about 17.9 million deaths in the year 2019, as per the WHO.

Challenges

  • Concern for Exposure to Radiation
  • Probability of Injury Caused Due to Catheterized Artery
  • High Cost of Angiography Procedures and Robotic Angiography Devices

The growth of the global robotic angiography systems market can also be attributed to the numerous opportunities generated as a result of the increasing support from the government of nations to promote research and development for the innovation of novel medical devices. For instance, the Center for Devices and Radiological Health (CDRH), the division of United States Food and Drug Administration (FDA) that facilitates medical device innovation, offers early regulatory assistance with two meeting options as part of the FDA’s Q-Submission Program for the innovators of medical devices. Additionally, to review artificial intelligence (AI) and machine learning (ML) medical devices, the FDA follows an appropriate premarket pathway, such as premarket approval, De Novo classification, and premarket clearance (510(k)) among others. The CDRH also has developed the Partnerships to Advance Innovation and Regulatory Science (PAIRS) mission that aims at making collaborations with industry experts to keep pace with the rapid development of new technology w.r.t. medical devices.

The global robotic angiography systems market is segmented and analyzed for demand and supply by end-user into hospitals, specialty clinics, diagnostic & imaging centers, and academic & research institutes. Amongst these segments, the hospitals segment is anticipated to garner the largest revenue by the end of 2031, backed by the growing number of patient visits along with the surge in the availability of hospitals worldwide. For instance, according to the statistics by the Organization for Economic Co-Operation and Development (OECD), the number of hospitals in the United States, Colombia, Mexico, Korea, and the United Kingdom grew from 5564, 10315, 4457, 3678, and 1882 numbers respectively in the year 2015 to 6146, 10522, 4629, 3924, and 1910 numbers respectively in the year 2018.

Total Hospital

Global-Healthcare-Expenditure-per-Capita

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Robotic Angiography Systems Market Regional Synopsis

Regionally, the global robotic angiography systems market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America is projected to hold the largest market share by the end of 2031, backed by the presence of a strong healthcare network in the region, growing number of hospitals and diagnostic & imaging centers, as well as the rising awareness amongst the healthcare service providers for advanced robot-assisted minimally invasive diagnostic imaging devices. According to the 22nd edition AHA Hospital Statistics report, published by the American Hospital Association (AHA), the total number of community hospitals in the United States in the year 2021 was 5139, while the total number of admissions in all the hospitals across the nation during the same period was recorded to 33,356,853.

Total Number of Community Hospitals

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The global robotic angiography systems market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global robotic angiography systems market includes the following segments:

Market Segmentation

Top Featured Companies Dominating the Global Robotic Angiography Systems Market

  • General Electric (GE Healthcare)
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis 
  • KUKA AG
  • Koninklijke Philips N.V.
  • Siemens Healthcare GmbH
  • Corindus, Inc.
  • Shimadzu Corporation
  • Boston Scientific Corporation
  • Abbott
  • Canon Medical Systems Corporation
  • Medtronic Plc

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