Global Robotic Angiography Systems Market Definition
Angiography is used in the medical field as a test to evaluate the interior of organs and blood vessels. It is a minimally invasive medical imaging procedure that is being highly utilized for less painful procedures and accuracy. The imaging technology is set to grow which is coupled with the integration of automation. Such growth is anticipated to result in a higher adoption rate of cutting-edge robotic imaging solutions. Angiography analyses the various human body issues associated with blood flow. It provides highly précised, reliable, and accurate results for diseases.
A new generation robotic-assisted angiography system has been developed that is being marketed to support interventional radiology, invasive cardiology treatment, and various other surgical procedures. Robot-assisted procedures are very helpful for the interventional cardiologist to monitor the position of guide wires to locate the blockage in the heart by seeing a live x-ray. Robotic angiography systems facilitate the cardiologist in moving the balloon inside the body to perform crucial tasks such as opening arteries and placing stents.
The main benefit of robotic angiography systems is to experience advanced procedural accuracy with enhanced radiation safety which is highly advantageous for the operators. Additionally, the success rate of robotic angiography systems is also very high.
Global Robotic Angiography Systems Market: Key Insights
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~6% |
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Base Year Market Size (2022) |
~ USD 400 Million |
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Forecast Year Market Size (2035) |
~ USD 600 Million |
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Regional Scope |
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Global Robotic Angiography Systems Market Size, Forecast, and Trend Highlights Over 2023 - 2035
The global robotic angiography systems market is estimated to garner a revenue of ~USD 600 Million by the end of 2035 by growing at a CAGR of ~6% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of ~USD 400 Million in the year 2022. 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.
Global Robotic Angiography Systems Market: Growth Drivers and Challenges
Growth Drivers
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Promising Expenditure from Hospitals for the Adoption of Advanced Medical Robotics to Drive Market Growth - According to the statistics by the Centers for Medicare & Medicaid Services (CMS) of the United States government, 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 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.
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Rising Trends of Internet of Medical Things (IoMT) - the medical things (IoMT) are projected to reach a valuation of about USD 162.2 billion by the end of 2024 across the globe.
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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 across the globe.
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Surge in Advancements in Developing Imaging Solutions – robotic imaging solutions includes ultrasound, computed tomography (CT), magnetic resonance tomography, and others. For instance, nearly 70 million CT scans are performed across the globe every year.
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Increasing Incidence of Cardiovascular Diseases (CVDs) Globally – Deaths registered owing to CVD worldwide were about 17.9 million deaths in the year 2019, as per the WHO.
Challenges
- High Cost of Angiography Procedures and Robotic Angiography Devices - The price of angiography can be affected by several factors that can increase them significantly. These factors include consultation charge, age of patients, type of angiography procedure, type of contrast dye, admission room charger, and many more. Hence, all these factors may limit the market growth over the forecast period.
- Concern for Exposure to Radiation
- Probability of Injury Caused Due to Catheterized Artery
Global Robotic Angiography Systems Market Segmentation
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.
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 robotic angiography systems market includes the following segments:
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By Technology |
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By Application |
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By Indication |
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By End-User |
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Global Robotic Angiography Systems Market Regional Synopsis
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.
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.
Top Featured Companies Dominating the Global Robotic Angiography Systems Market
- GE HealthCare Technologies Inc.
- 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 Laboratories
- Canon Medical Systems Corporation
- Medtronic Plc
