Rising Prevalence of Cardiovascular Diseases
Cardiovascular diseases are the leading cause of deaths across the globe. The burden of cardiovascular disease is estimated to be around 29% of the total deaths around the world. According to the American Heart Association by 2030, 40.5% of the U.S. population is expected to suffer from cardiovascular disease. It is estimated that the total direct cost of cardiovascular diseases from 2010 to 2030 would be almost three times from US$ 273 Bn to US$ 818 Bn. This factor is expected to drive the growth of the global angio suites market.
Government Funding and Support for Development of New Innovative Medical Devices
Growing incidence of life-threatening diseases has majorly resulted in rise in the number of diagnostics procedures worldwide. It is estimated that the direct and indirect costs of diagnosis and imaging will increase over a period of time. To develop cost-effective and efficient medical devices, various governments in developed countries are actively funding R&D activities. For instance, the New South Wales (NSW), a state government from Australia, has availed medical devices fund of about US$ 8 million in 2017–2018 to help encourage and support investments in the development and commercialization of medical devices and related technologies.
Lack of Skilled Professionals and Standard Usage Guidelines
The lack of skilled healthcare professionals for operating angio suites within the healthcare domain represents a prime obstacle in the growth of the angio suites market in emerging economies. Presently, the demand for skilled employees is rising, especially in the Middle East and Africa, due to the limited availability of resources. A fundamental requirement to work on cardiac devices should be trained, skilled cardiac specialists and professionals within the healthcare domain for day to day operations and maintenance. Globally, the demand is increasing for diagnostic procedures however, due to the limited number of skilled operators and professionals, growth of the market is expected to be stagnant. The improper implementation and development of clinical practice guidelines in most of the counties are factors hindering the growth of the market. Furthermore, the lack of a proper regulatory framework is also expected to restrain the growth of the global angio suites market.