New York, May 08, 2023 (GLOBE NEWSWIRE) -- The Intravascular Ultrasound market is a rapidly expanding sector of the medical device industry, with applications in cardiovascular diagnosis, intervention, and research. It is projected to reach approximately USD 1296 million by 2032, with a compound annual growth rate (CAGR) of 6.40% during the forecast period of 2023 to 2032, up from USD 707.55 million in 2022. IVUS is an imaging technique that uses high-frequency sound waves to produce images of blood vessel interiors that allow for the assessment of vessel structure, plaque build-up, and other abnormalities.
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Key Takeaway:
- By modality, the virtual histology segment is dominant in the market with a 61% market share.
- On the basis of product analysis, the accessories segment is dominant, these accessories are used to facilitate the placement and navigation of IVUS.
- By application, the coronary intervention segment is dominant in the intravascular ultrasound market.
- From end-users, hospitals are major end-users of the intravascular ultrasound industry.
- In 2022, in regions, North America is dominant in the market with a market share of 45%.
- APAC is expected to have a higher growth rate in all of the regions.
- APAC is expected to grow at a huge rate because of the increasing prevalence of cardiovascular diseases and improved healthcare infrastructure.
Factors affecting the growth of the Intravascular Ultrasound industry
There are several factors that can have an impact on the growth of the intravascular ultrasound devices market. Some of these factors include:
- Increased Prevalence of Cardiovascular Diseases: Cardiovascular diseases are a leading cause of death worldwide and their incidence is expected to rise due to factors like sedentary lifestyles, unhealthy diets, and an aging population. Therefore, demand for IVUS systems used for diagnosing and treating cardiovascular diseases will likely increase.
- Growing Preference for Minimally Invasive Procedures: Minimally invasive surgeries are becoming more and more popular over traditional open surgeries due to their reduced risk of complications, quicker recovery times, and lower healthcare costs. IVUS systems play a vital role in supporting these minimally invasive techniques such as angioplasty or stenting; thus, demand for IVUS systems is expected to grow.
- Advancements in IVUS Technology: The IVUS market is experiencing rapid advancements in technology, with companies developing cutting-edge IVUS systems with enhanced imaging capabilities and data analysis tools. These improvements are expected to boost the accuracy and efficiency of IVUS procedures, ultimately driving up demand.
- Governments and private organizations are increasing their healthcare expenditure to improve healthcare outcomes and address the rising burden of diseases. This surge in spending is expected to fuel demand for IVUS systems, particularly in emerging markets.
- Lack of awareness and accessibility in certain regions: Despite the growing demand for IVUS systems, there remains a challenge for growth within this industry due to a lack of awareness and accessibility in certain regions.
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Top Trends in Intravascular Ultrasound Market
The IVUS industry is seeing the development of more sophisticated IVUS catheters with smaller diameters to image smaller blood vessels. As a result, IVUS technology is expected to become increasingly commonplace in various healthcare settings due to the rising demand for minimally invasive diagnostic and therapeutic options.
As IVUS imaging becomes more precise and effective, system makers are investing more money in R&D projects. As a result, future IVUS systems are expected to be more sophisticated and advanced as a result of this investment. Additionally, IVUS technology is increasingly being employed in interventional cardiology particularly to guide percutaneous coronary interventions (PCIs). As a result of this trend, which has been driven by consumers' preference for minimally invasive procedures, the market for IVUS technology is predicted to expand over the coming years.
Market Growth
The Intravascular Ultrasound (IVUS) industry is expected to experience significant growth in the coming years, driven by several factors such as the increasing prevalence of cardiovascular diseases, advancements in IVUS technology, growing healthcare infrastructure, and rising healthcare expenditure. The increasing demand for minimally invasive procedures, the rising adoption of IVUS systems in emerging economies, and the growing number of partnerships and collaborations among key players in the industry are expected to contribute to this growth. IVUS industry is expected to experience steady growth in the coming years due to the increasing demand for accurate and efficient diagnosis and treatment of cardiovascular diseases, the growing preference for minimally invasive procedures, and the rapid advancements in IVUS technology.
Regional Analysis
North America currently accounts for 45% of global IVUS sales, as the region experiences high rates of cardiovascular illnesses and has access to advanced medical facilities and technology. With a growing demand for minimally invasive diagnostic and therapeutic options as well as increased awareness among healthcare workers about IVUS technology, Europe is emerging as another significant market for IVUS vendors.
Due to the growing incidence of cardiovascular diseases in Asia-Pacific, its improved healthcare infrastructure, and growing demand for cutting-edge medical technologies, the IVUS market is expected to experience substantial growth there. Furthermore, due to rising healthcare costs in developing countries within this region and increased adoption of medical devices, there will be additional drivers for market expansion throughout APAC.
Due to rising cardiovascular disease rates and demand for cutting-edge medical technologies, the IVUS market is expected to expand in the Middle East, Africa area, and Latin America. Unfortunately, these regions may experience limitations due to a lack of healthcare facilities and financial restrictions.
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Scope of the Report
| Report Attribute | Details |
| Market Value (2022) | USD 707.55 Million |
| Market Size (2032) | USD 1,296 Million |
| CAGR (from 2023 to 2032) | 6.4% |
| North America Revenue Share | 45% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
- Increase in Cardiovascular Diseases: The prevalence of cardiovascular diseases such as coronary artery disease and peripheral artery disease is on the rise, which is driving up demand for IVUS technology. IVUS imaging is increasingly being used to diagnose these conditions and provide therapy advice.
- Innovations in IVUS Technology: Thanks to improvements in software, image clarity, and smaller catheters, the market for IVUS technology is still growing. There have also been developed IVUS devices that combine numerous imaging modalities.
Market Restraints
- High Cost of IVUS Systems: Compared to other imaging modalities, IVUS systems are often quite expensive, making them unattractive for developing nations or smaller healthcare institutions with tight budgets.
Market Opportunities
Intravascular ultrasound (IVUS), an expanding industry, is expected to experience substantial growth over the coming years due to factors such as an increasing prevalence of cardiovascular disease, advances in IVUS technology, and expanding healthcare infrastructure. This growth is anticipated to be spurred on by increasing demand for minimally invasive procedures and the increasing adoption of IVUS systems within emerging economies. There have been growing partnerships and collaborations among key industry participants. The IVUS industry will experience steady expansion over the coming years due to the increased need for efficient diagnosis and treatment of cardiovascular diseases as well as a preference for minimally invasive approaches.
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Report Segmentation of the Intravascular Ultrasound Market
Modality Insight
The market is dominated by the virtual histology sector, which has a maximum share of more than 61%. A technique called virtual histology analyses the backscattered ultrasound signals from the vessel wall using IVUS imaging and sophisticated signal processing methods to reveal the makeup of atherosclerotic plaques. Virtual histology can help patients with coronary artery disease make treatment choices by differentiating between fibrous, fibrofatty, necrotic, and calcified plaques.
Product Insight
The industry is dominated by the accessories segment, which accounts for 61.55% of total sales. Guide wires, sheaths, and introducers are a few examples of IVUS attachments. These add-ons aid in the insertion and movement of IVUS tubes throughout the body. The primary control devices for acquiring and processing ultrasound pictures are IVUS consoles. These consoles usually have features like real-time image rendering, data analysis tools, and image storage. Ultrasound pulses are applied to the arterial wall using IVUS catheters, which then collect reflected signals. Typically, these catheters are inserted into the body through a tiny puncture or incision and are guided to the desired location using imaging techniques like fluoroscopy or angiography.
Application Insight
The majority of the global industry was comprised of coronary intervention procedures like angioplasty and stenting that are guided by IVUS technology. This allows doctors to accurately gauge artery diameter, lesion length, and plaque build-up level; thus determining which stent size should be chosen for maximum deployment. Furthermore, IVUS can be employed for coronary diagnostics, providing medical professionals with real-time views inside coronary arteries while making treatment decisions based on high-resolution images produced by IVUS that pinpoint blockages or plaque build-up.
End User Insight
Clinics, hospitals, mobile imaging centers, research and education institutions, and other end-users make up the market's end-user segmentation. The majority of IVUS procedures globally are carried out in hospitals, which are the main users of IVUS systems. To enable complicated procedures like angioplasty or stenting, hospitals need top-of-the-line systems with cutting-edge imaging capabilities and data analysis tools. For non-coronary uses, diagnostic imaging centers also heavily depend on IVUS systems; they require high-resolution images for precise diagnosis and treatment planning.
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Market Segmentation
Based on Modality
- iMAP
- Virtual Histology
- Integrated Backscatter Intravascular Ultrasound
Based on Product
- Consoles
- Accessories
- Catheter
Based on the End User
- Clinics
- Hospitals
- Mobile Imaging Centers
- Research and Academic Institution
- Other End-Users
Based on Application
- Coronary Diagnosis
- Coronary Intervention
- Coronary Research
- Non-coronary
By Geography
- North America
-
- The US
- Canada
- Mexico
- Western Europe
-
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
-
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
-
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
-
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Competitive Landscape
Numerous businesses compete for customers in the highly competitive intravascular ultrasound market by providing a variety of products and services. According to predictions, the market will continue to grow over the upcoming years as major players concentrate on strategic alliances and acquisitions to stay ahead, expand their product portfolios, address increasing cardiovascular disease prevalence, and meet the demand for minimally invasive procedures.
Some of the major players include:
- Canon Medical Systems Corp
- Boston Scientific Corp
- GE Healthcare
- Philips
- Siemens Healthcare
- Hitachi
- Mindray Medical International Ltd
- Fujifilm Corp
- Samsung Medison
- Chison Medical Technologies
- Axle Internationals
- Infraredx Inc
- Terumo Corporation
- Other Key Players
Recent Development of the Intravascular Ultrasound Market
- In March 2021: Boston Scientific announced the launch of its next-generation intravascular ultrasound (IVUS) imaging system, OptiCross Coronary Imaging Catheter. The new catheter is designed to provide high-resolution imaging of coronary arteries during diagnostic and interventional procedures.
- In February 2021: Philips announced the launch of its latest intravascular ultrasound (IVUS) catheter, the Proxis Proximal Imaging System. The new catheter is designed to provide high-resolution imaging of vessel walls and plaque in the proximal segment of the vessel, allowing physicians to better assess disease severity and treatment options.
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