Global Vascular Imaging Market, By Technique (Magnetic Resonance Imaging, Ultrasound, Computed Tomography, Nuclear Imaging, and X-Ray), Procedure (Coronary Angiography, Peripheral Angiography, Neurovascular Angiography, Vascular Ultrasound Procedures, Micro angiography, and Others), Application (Diagnostic Applications and Therapeutic Applications), End User (Hospitals, Diagnostic Imaging Centres, and Others) – Industry Trends and Forecast to 2031.
Vascular Imaging Market Analysis and Size
Vascular imaging market is advancing with cutting-edge technologies such as 3D and 4D imaging, enhancing diagnostic precision in detecting vascular diseases. Latest methods include contrast-enhanced ultrasound and digital subtraction angiography, optimizing image clarity. Growth is fueled by rising incidences of cardiovascular disorders and technological innovations, driving demand for non-invasive and accurate imaging solutions.
The global vascular imaging market size was valued at USD 6.27 billion in 2023 and is projected to reach USD 9.51 billion by 2031, with a CAGR of 5.35% during the forecast period 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Technique (Magnetic Resonance Imaging, Ultrasound, Computed Tomography, Nuclear Imaging, and X-Ray), Procedure (Coronary Angiography, Peripheral Angiography, Neurovascular Angiography, Vascular Ultrasound Procedures, Micro angiography, and Others), Application (Diagnostic Applications and Therapeutic Applications), End User (Hospitals, Diagnostic Imaging Centres, and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Siemens Healthcare Private Limited (Germany), GE HealthCare (U.S.), Swedish Medical Center (U.S.), Brigham and Women's Hospital (U.S.), Hitachi Healthcare Americas (Japan), Koninklijke Philips N.V. (Netherlands), Shimadzu Corporation (Japan), Samsung Medison Co., Ltd. (South Korea), Abbott (U.S.), FUJIFILM Corporation (Japan), Esaote SPA (Italy), Carestream Health (U.S.), TERUMO CORPORATION (Japan), Konica Minolta, Inc. (Japan), Pie Medical Imaging B.V. (Netherlands), ALPINION MEDICAL SYSTEMS Co., Ltd. (South Korea),and CorVascular Diagnostics, LLC (U.S.)
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Market Opportunities
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Market Definition
Vascular imaging is a medical technique used to visualize blood vessels within the body. It employs various imaging modalities such as ultrasound, CT angiography, MRI angiography, and X-ray angiography to diagnose and assess conditions affecting the vascular system, including aneurysms, stenosis, and thrombosis. These non-invasive or minimally invasive methods provide detailed images essential for planning interventions and monitoring vascular health.
Vascular Imaging Market Dynamics
Drivers
- Rising Incidence of Chronic Diseases
The rising incidence of chronic diseases such as diabetes and hypertension significantly increases the risk of vascular disorders. This heightened risk underscores the critical need for regular vascular imaging to detect and manage these conditions early. For instance, diabetic patients often develop peripheral artery disease, necessitating precise imaging for timely intervention. This demand for early detection and effective management drives the growth of the vascular imaging market globally.
- Growing Demand for Non-Invasive Diagnostic Techniques
The growing preference for non-invasive or minimally invasive diagnostic procedures is driving the adoption of vascular imaging technologies. Patients favor these methods due to reduced discomfort and shorter recovery times compared to traditional invasive procedures. For instance, techniques such as ultrasound and CT angiography offer detailed vascular images without the need for surgical intervention, making them increasingly popular choices among healthcare providers and patients, thereby expanding the vascular imaging market.
Opportunities
- Supportive Government Initiatives and Funding
Supportive government initiatives and funding for medical imaging technologies create significant opportunities in the market by fostering innovation and affordability. For instance, programs such as the National Institutes of Health (NIH) in the United States allocate substantial funding to advance vascular imaging research. This financial support not only accelerates technological advancements but also enhances accessibility to cutting-edge imaging solutions, thereby driving market growth and improving patient care outcomes globally.
- Integration of Artificial Intelligence (AI) and Machine Learning
Integration of Artificial Intelligence (AI) and Machine Learning in vascular imaging creates significant market opportunities by enhancing diagnostic capabilities. AI algorithms analyze complex vascular images swiftly and accurately, aiding in early detection of conditions such as arterial blockages or aneurysms. For instance, AI-powered software such as Viz.ai helps detect and prioritize large vessel occlusions in stroke patients, improving treatment outcomes. Such advancements attract healthcare providers seeking efficient and precise diagnostic solutions, driving adoption and market growth.
Restraints/Challenges
- High Cost of Equipment and Maintenance
The high cost of vascular imaging equipment, such as MRI and CT scanners, poses a significant barrier for healthcare facilities, especially in budget-constrained regions. This financial burden discourages investments in advanced technology upgrades, limiting access to improved diagnostic capabilities. As a result, healthcare providers may struggle to meet patient demand for sophisticated vascular imaging services, perpetuating disparities in healthcare access and quality.
- Patient Safety Concerns
Patient safety concerns, such as those related to contrast agents and ionizing radiation used in certain vascular imaging techniques, pose significant challenges for the market. The potential for side effects and long-term health risks creates hesitation among both healthcare providers and patients, impacting adoption rates. Balancing diagnostic efficacy with safety concerns remains a critical hurdle for manufacturers and healthcare facilities asuch as in the vascular imaging sector.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In October 2023, Abbott introduced Ultreon 1.0 Software in India, merging optical coherence tomography (OCT) with artificial intelligence (AI). This innovative software aims to enhance precision in medical imaging, particularly for cardiovascular procedures
- In November 2023, BD launched SiteRite 9, an advanced ultrasound system designed to improve the placement of vascular access devices. This system promises increased accuracy and efficiency in clinical settings
- In August 2023, GE Healthcare unveiled Vscan Air SL, a handheld, wireless ultrasound imaging solution. Primarily used for rapid assessment in vascular and cardiac care, its release is poised to bolster healthcare efficiency and patient outcomes globally
Vascular Imaging Market Scope
The market is segmented on the basis of technique, procedure, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Technique
- Magnetic Resonance Imaging
- Ultrasound
- Computed Tomography
- Nuclear Imaging
- X-Ray
Procedure
- Coronary Angiography
- Peripheral Angiography
- Neurovascular Angiography
- Vascular Ultrasound Procedures
- Micro angiography
- Others
Application
- Diagnostic Applications
- Therapeutic Applications
End User
- Hospitals
- Diagnostic Imaging Centres
- Others
Vascular Imaging Market Regional Analysis/Insights
The market is analysed and market size insights and trends are provided by country, technique, procedure, application and end user as referenced above.
The countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America is expected to dominate the vascular imaging market, driven by major players and streamlined repayment regulations. The region's increasing incidence of stroke will further fuel market growth during the forecast period.
Asia-Pacific is projected to observe significant growth in the vascular imaging market, driven by increasing incidences of cardiovascular disorders. This trend underscores heightened demand for advanced diagnostic technologies across the region. Rapid urbanization, lifestyle changes, and improving healthcare infrastructure further contribute to this anticipated market expansion in Asia-Pacific.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the market. The data is available for historic period 2016-2021.
Competitive Landscape and Vascular Imaging Market Share Analysis
The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.
Some of the major players operating in the market are:
- Siemens Healthcare Private Limited (Germany)
- GE HealthCare (U.S.)
- Swedish Medical Center (U.S.)
- Brigham and Women's Hospital (U.S.)
- Hitachi Healthcare Americas (Japan)
- Koninklijke Philips N.V. (Netherlands)
- Shimadzu Corporation (Japan)
- Samsung Medison Co., Ltd. (South Korea)
- Abbott (U.S.)
- FUJIFILM Corporation (Japan)
- Esaote SPA (Italy)
- Carestream Health (U.S.)
- TERUMO CORPORATION (Japan)
- Konica Minolta, Inc. (Japan)
- Pie Medical Imaging B.V. (Netherlands)
- ALPINION MEDICAL SYSTEMS Co., Ltd. (South Korea)
- CorVascular Diagnostics, LLC (U.S.)
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