Robotic Angiography Systems Market Size & Share, by Technology (X-Ray, CT, MR Angiography Systems); Application (Coronary, Endovascular, Neuro, Onco-Angiography); Indication (Coronary Artery Disease, Valvular Heart Disease, Congenital Heart Disease, Congestive Heart Failure); End-user (Hospitals, Specialty Clinics, Diagnostic & Imaging Centers, Academic & Research Institutes) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 4163
  • Published Date: Feb 17, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2035

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.


Robotic Angiography Systems Market
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Robotic Angiography Systems Sector: Growth Drivers and Challenges

Growth Drivers

  • 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.

  • 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.
  • 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.
  • 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.
  • 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

Robotic Angiography Systems Market: Key Insights

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

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Robotic Angiography Systems Segmentation

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

  • X-Ray
  • CT
  • MR Angiography Systems

                   By Application

  • Coronary
  • Endovascular
  • Neuro
  • Onco-Angiography

                    By Indication

  • Coronary Artery Disease
  • Valvular Heart Disease
  • Congenital Heart Disease
  • Congestive Heart Failure
  • Others

                       By End-User

  • Hospitals
  • Specialty Clinics
  • Diagnostic & Imaging Centers
  • Academic & Research Institutes

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Robotic Angiography Systems Industry - Regional Synopsis

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. 

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Robotic Angiography Systems Market Size
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Companies Dominating the Robotic Angiography Systems Landscape

top-features-companies
    • 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 

In the News

  • 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


  • Report ID: 4163
  • Published Date: Feb 17, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Promising expenditure from hospitals for the adoption of advanced medical robotics to drive the market growth are the major factors driving the market growth.

The market is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2023-2035.

High cost of angiography procedures and robotic angiography devices is estimated to be the growth hindering factor for the market expansion.

The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are KUKA AG, Koninklijke Philips N.V., Siemens Healthcare GmbH, Corindus, Inc., Shimadzu Corporation, Boston Scientific Corporation, Abbott Laboratories, Canon Medical Systems Corporation, and others.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by technology, application, indication, end-user, and region.

The hospital segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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