Robotic Angiography Systems Market size is estimated to surpass USD 600 Million by the end of 2035, growing at a CAGR of 6% during the forecast period i.e., 2023-2035. In the year 2022, the industry size of robotic angiography systems was over USD 400 Million. The growth of the market can be attributed to the rising incidence of cardiovascular diseases worldwide. Angiography plays a significant role in the diagnostic evaluation of several cardiovascular diseases. The World Health Organization (WHO) registered about 17.9 million deaths in the year 2019, thereby representing 32% of the total number of deaths that occurred worldwide. Furthermore, robotic angiography technology is being used more frequently to view the blood vessels in the kidneys and the heart in order to properly identify and diagnose problems while lowering the likelihood of human error. As a result, it is anticipated that the rising burden of these diseases will drive up sales in the global market. More than one in seven individuals in the United States, or nearly 37 million people, have chronic kidney disease, according to the National Institute of Diabetes and Digestive and Kidney Diseases.
People with a prevalence of 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 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 globally. 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 the 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 around the world.
Growth Drivers
The rising need for 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 robotic diagnostic devices amongst 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.
Challenges
|
Base Year |
2022 |
|
Forecast Year |
2023-2035 |
|
CAGR |
~6% |
|
Base Year Market Size (2022) |
~ USD 400 Million |
|
Forecast Year Market Size (2035) |
~ USD 600 Million |
|
Regional Scope |
|
End-user (Hospitals, Specialty Clinics, Diagnostic & Imaging Centers, Academic & Research Institutes)
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. Out of these end-users, the hospital segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to 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 in the year 2018.
Technology (X-Ray, CT, MR Angiography Systems)
The global robotic angiography systems market is also segmented and analyzed for demand and supply by technology into X-ray, CT, and MR angiography Systems. Amongst these three segments, the MR angiography systems segment is expected to garner a significant share. MR angiography is a test, in which radio waves and magnetic fields are created to scan the respective body parts. It is quite beneficial to diagnose several health problems that can be related to the brain, kidneys, heart, throat, and others. It is also known as MRA in the medical field. It has been observed that MRA can visualize adjacent segments of coronaries. MR angiography procedure may take 30 to 60 minutes. It is used in the evaluation of several diseases are atherosclerosis, arterial aneurysm, carotid artery disease, aortic coarctation & dissection, and others.
Our in-depth analysis of the global market includes the following segments:
|
By Technology |
|
|
By Application |
|
|
By Indication |
|
|
By End-User |
|
North American Market Forecast
The North American robotic angiography systems market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The growth of the market can be attributed majorly to the presence of a strong healthcare network in the region, a 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.
APAC Market Statistics
Additionally, the market in the Asia Pacific region is further expected to witness noteworthy growth during the forecast period. The market in the region is projected to grow on the back of an escalating number of the geriatric population backed by the higher prevalence of cardiovascular diseases. In 2019, approximately 10 million people lost their lives owing to cardiovascular diseases in Asia. Furthermore, significant investment in medical robotics by the government and other organizations is also projected to expand the market size in the region over the forecast period.
GE HealthCare Technologies Inc. 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.
Koninklijke Philips N.V.’s healthcare division, 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.
Author Credits: Radhika Gupta, Shivam Bhutani
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?