Vascular Imaging Market Size, Share & Trends Analysis Report By Type (Invasive, Non-Invasive), By End-Use (Hospitals, Diagnostic imaging centers), By Application (Diagnostic, Therapeutic), By Region, And Segment Forecasts, 2019 - 2026

Industry Insights

The global vascular imaging market size was valued at USD 17.5 billion in 2018 and is projected to expand at a CAGR of 4.2% by 2026. Rising prevalence of hypertension, hypercholesterolemia, and diabetes is the major factor expected to contribute towards the market growth over the forecast period. These conditions increase the risk of vascular disorders such as aneurysms, carotid blockage, deep vein thrombosis, and atherosclerosis; the major areas where vascular imaging devices find the application.     

Increasing awareness about early diagnosis and intervention to prevent mortality or morbidity along with rising adoption of preventive healthcare techniques are the factors expected to have a significant positive impact on the number of vascular imaging procedures in developed as well as developing countries. Moreover, constant technological advancement focused to provide safer diagnosis with minimum turnaround time and optimum efficiency is anticipated to play an important role in the market growth over the forecast period. For instance, advanced CT scanners with dual sources and sensitive detectors perform scan quickly and efficiently at low radiation exposure, thereby improving patient satisfaction.

Increasing usage of vascular imaging modalities in trauma cases along with pre, post, and intraoperative procedures is anticipated to fuel the market growth during the forecast period. For instance, pre-operative coronary vascular imaging provides information suggesting whether stenting is required, whereas the post-operative vascular images provide information about the effectiveness of the cardiac grafts or stenting performed.      

Increasing adoption of noninvasive diagnostic imaging techniques and rising inclination towards minimally invasive procedures and the establishment of efficient clinical guidelines is expected to foster the growth over the forecast period. For instance, the National Institute for Health and Care Excellence (NICE), clinical guidelines’ state the use of CT coronary angiography as a first-line investigation procedure for patients reporting with stable chest pain.

Type Insights

Based on type, the vascular imaging market is classified into minimally invasive and non-invasive. The minimally invasive market is segmented into catheter angiogram, intravascular ultrasound, computed tomography angiography (CTA), lymphoscintigraphy, and venogram. The non-invasive segment is categorized into abdominal ultrasound, angiography, ankle-brachial index (ABI), captopril renal scan, carotid duplex ultrasound, CT scan, Doppler ultrasound, duplex ultrasound, MRA (magnetic resonance angiography) and MRI (magnetic resonance imaging).

Non-invasive type held the largest market share in 2018 and is expected to grow at a healthy rate over the forecast period. Higher safety, patient convenience, and shorter recovery time compared to conventional imaging procedures are the factors expected to drive the market’s growth over the forecast period. Minimally Invasive vascular imaging normally takes several hours for the catheter insertion site to get recovered, whereas, patients subjected to a coronary CT angiography can return to their routine activities immediately.

Improving specificity, sensitivity, and imaging standards coupled with optimized radiation exposure of non-invasive vascular imaging modalities are expected to boost the adoption of advanced vascular imaging modalities. According to a clinical study reported in NCBI, CT coronary angiography had a sensitivity of 80.0% and specificity of 67.0% in the diagnosis of Coronary Heart Diseases (CHD), compared to 67.0% and 75.0% sensitivity and specificity respectively of conventional invasive angiography.    

End-use Insights

Based on end-use, the vascular imaging market is segmented into hospitals and diagnostics imaging center. Hospitals accounted for the largest market share in 2018 and are expected to grow at a significant rate over the forecast period. The growth of this segment is majorly contributed to factors such as large patient pool, availability of funds to acquire advanced equipment and high competition among healthcare service providers.

The rising number of emergency admission in hospitals for conditions such as stroke, chest pain, and abdominal discomfort is expected to boost the demand for vascular imaging modalities in emergency departments. According to NCBI reports, acute chest pain is responsible for more than 700,000 emergency admissions every year in England and Wales. This figure is around one-fourth of all emergency admissions. This condition requires quick and accurate diagnosis to avoid complications. The introduction of handheld and quicker imaging equipment is expected to expand their applications in emergency departments including ambulatory care centers.

Diagnostics imaging centers are also expected to grow at a significant rate over the forecast period. The low cost of CT/ MRI scans, the presence of diagnostics accreditation boards, and improving accessibility in developing countries such as India, China, and others are the factors expected to drive growth over the forecast period.

Application Insights

Based on the application, the market is segmented into diagnostics and therapeutic segments. The diagnostic segment captured the largest share in 2018. Introduction of advanced imaging modalities that help in reducing turnaround time and development of effective alternatives for invasive and minimally invasive diagnostic modalities are some of the major factors driving the segment growth.

Development of faster-acting targeted therapies, the adaption of preventive measures, and the introduction of early diagnostic methods that help in increasing treatment success at the early stages of the disease are the factors expected to impede the growth of the therapeutic segment. However, the introduction of advanced technology such as vascular robots, and the peripherally inserted central venous catheter is expected to resolve complications about repeat procedures and blood vessel rupture.

Regional Insights

North America held the largest share in the vascular imaging market in 2018. The presence of major players, streamlined reimbursement policies, rising incidence of stroke, and prevalence of cardiovascular disorders are the factors expected to drive the growth in this region. According to AHA, 2019 heart disease and stroke statistics, on average, every 40 seconds an American will have a stroke, and about 795,000 Americans reported with new or recurrent stroke annually.    

Europe accounted for the second-largest market share in vascular imaging in 2019. Increasing prevalence of diabetes, obesity, and cardiovascular disorders are expected to further fuel the growth. This is mainly due to rising behavioral risk factors such as smoking, alcohol consumption, unhealthy diet, and sedentary lifestyle adoption. The majority of the installed units of vascular CT and MRI imaging in the region are more than 10 years old. Rapid replacement of this equipment by advanced versions is expected to boost the market dynamics in the region during the forecast period.

Asia Pacific is anticipated to grow at the fastest CAGR over the forecast period. Developing economies with large patient pool, growing presence of international healthcare services providers, rising favorable government initiatives are some of the major factors driving the growth in the region. Major markets in the region include Japan, India, China, Thailand, and South Korea.

Vascular Imaging Market Share Insights

The players present in the market include Siemens Healthineers, GE Healthcare, Koninklijke Philips N.V. Hitachi Medical Corporation, Samsung Medison, Shimadzu Medical Systems, Hologic Inc., Abbott Laboratories,  and Carestream Health Inc. These players are focusing on adopting growth strategies, such as new product launches, innovations in the existing technologies and devices, mergers and acquisitions, partnerships, geographical expansion, and more. Recently, Siemens Healthineers completed the acquisition of Corindus Vascular Robotics. This is expected to expand its portfolio of interventional vascular imaging.

GE Healthcare, one of the leading players in the industry, developed Revolution Apex, a modernized ultra-premium CT scanner. It provides features, such as enhanced visual coverage, spectral imaging options, spatial resolution, and temporal resolution, in one single system. The system is integrated with Quantix 160 Tube, a powerful tube that displays next-level performance with excellent picture quality for current and new patients. Revolution Apex is also proved beneficial for patients with elevated heart rates, compromised renal function, high body mass index, and more.

Report Scope

Segments Covered in the report

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2015 to 2026. For this study, Grand View Research has segmented the global vascular imaging market based on type, application, end-use, and region:

• Type Outlook (Revenue in USD Million, 2015 - 2026)

  • Minimally Invasive

    • Catheter angiogram

    • CTA

    • Lymphoscintigraphy

    • Venogram

    • Intravascular ultrasound

  • Non-Invasive

    • Abdominal ultrasound

    • Angiography

    • Ankle-brachial index (ABI)

    • Captopril renal scan

    • Carotid duplex ultrasound

    • CT scan

    • Doppler ultrasound

    • Duplex ultrasound

    • MRA (magnetic resonance angiography)

    • MRI (magnetic resonance imaging)

• Application Outlook (Revenue, SD Million, 2015 - 2026)

  • Diagnostic

  • Therapeutic

• End-use Outlook (Revenue, USD Million; 2015 - 2026)

  • Hospitals

  • Diagnostic Imaging Centers

  • Others

• Regional Outlook (Revenue, USD Million, 2015 - 2026)

  • North America

    • The U.S.

    • Canada

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • Thailand

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Colombia

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE