Global Intravascular Ultrasound Devices Market By Modality (iMAP, Virtual Histology, and Integrated Backscatter Intravascular Ultrasound), By Product (Consoles, Accessories, and Catheter), By End User, and Other End-Users), By Application, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032
- Published date: July 2024
- Report ID: 74683
- Number of Pages: 256
- Format:
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Report Overview
Intravascular Ultrasound Devices Market size is expected to be worth around USD 1296 Million by 2032 from USD 707.55 Million in 2022, growing at a CAGR of 6.4% during the forecast period from 2023 to 2032.
The Intravascular Ultrasound (IVUS) market is a medical technology market that provides imaging of blood vessels from within the body. This technology uses an ultrasonic probe inserted into a vessel to produce detailed images of its walls and surrounding structures. The images produced by IVUS technology can help diagnose and guide treatment for various cardiovascular conditions, such as coronary artery disease.
Key Takeaways
- The IVUS market is set to reach $1,296 million by 2032, growing at a 6.4% CAGR from $707.55 million in 2022.
- Key drivers include the rising prevalence of cardiovascular diseases and the demand for minimally invasive diagnostic options.
- Advances in IVUS technology, including smaller catheters and better image quality, are expanding the market.
- Substantial investments are pouring into the IVUS market, fostering cutting-edge device development.
- High costs and limited awareness are challenges to IVUS adoption, particularly in developing countries.
- Opportunities lie in emerging markets, the integration of multiple imaging modalities, and personalized medicine applications.
- IVUS is increasingly used in interventional cardiology, contributing to market expansion.
- Virtual histology holds the largest market share, while accessories are the leading product category.
- IVUS primarily serves coronary intervention procedures, benefiting doctors in precise treatment planning.
- North America dominates the market due to a high prevalence of cardiovascular diseases and advanced healthcare infrastructure.
Driving Factors
Increasing Prevalence of Cardiovascular Diseases
The demand for IVUS technology is being driven by an increase in cardiovascular illnesses like coronary artery disease and peripheral artery disease. IVUS imaging is becoming an indispensable tool in diagnosing these conditions and offering treatment recommendations.
Rising Demand for Minimally Invasive Diagnostic and Treatment Options
IVUS technology offers a minimally invasive alternative to traditional diagnostic and therapeutic approaches such as angiography or surgery, providing consumers with more choices for less invasive options. As a result, the IVUS market is growing due to rising consumer demand for less invasive solutions.
Advancements in IVUS Technology
The market for IVUS technology continues to expand due to advances in smaller catheters, improved software, and superior image quality. Furthermore, sophisticated IVUS systems that incorporate multiple imaging modalities have been created.
Increasing Investments and Funding
The IVUS market continues to draw significant investments and funding from both public and private sources, which is helping drive the development of cutting-edge IVUS devices and systems.
Restraining Factors
High Cost of IVUS Systems
IVUS systems tend to be quite costly compared to other imaging modalities, making them unattractive for developing countries or smaller healthcare facilities with limited budgets.
Limited Awareness and Accessibility
Lack of awareness regarding IVUS technology among healthcare professionals and patients could inhibit the growth of this market. Furthermore, the limited availability of IVUS systems in some regions could further restrict adoption rates for this technology.
Growth Opportunities
The Intravascular Ultrasound (IVUS) market presents several growth and development prospects. One such opportunity lies in the growing demand for IVUS technology in emerging markets. As healthcare infrastructure improves and cardiovascular diseases become more commonplace, there will be an uptick in IVUS imaging needs. Furthermore, advanced IVUS systems that integrate multiple imaging modalities are expected to become more widely adopted – providing more comprehensive imaging and diagnostic options.
Furthermore, the growing emphasis on personalized medicine and the utilization of IVUS imaging for treatment planning and guidance can present significant growth prospects for the IVUS market. Customized IVUS systems that offer tailored treatment plans based on patient-specific data could further expand their applications within healthcare.
Trending Factors
Trends are shaping the growth and development of the intravascular ultrasound (IVUS) industry. Integration of IVUS with other imaging modalities such as angiography or optical coherence tomography (OCT) is one major trend, providing more comprehensive imaging and diagnostic capabilities. Healthcare providers strive to improve patient outcomes while decreasing healthcare costs; this trend is expected to persist over the upcoming years.
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.
Modality Analysis
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 Analysis
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 Analysis
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 Analysis
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.
Key Market Segments
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
Regional Analysis
North America is currently the leading market for IVUS, accounting for 45% of global sales. This region has a high prevalence of cardiovascular diseases and access to advanced healthcare infrastructure and technologies. Europe also represents an important segment in IVUS demand due to factors such as increasing demand for minimally invasive diagnostic and treatment options and growing awareness among healthcare professionals about IVUS technology.
The Asia-Pacific region is forecast to experience significant growth in the IVUS market due to an increasing prevalence of cardiovascular diseases, improved healthcare infrastructure, and rising demand for advanced medical technologies. Furthermore, rising healthcare expenditure and the adoption of medical devices in emerging economies within this region will further fuel market development within Asia-Pacific.
The Middle East and Africa region as well as Latin America are expected to witness growth in the IVUS market due to increasing demand for advanced medical technologies and an increasing prevalence of cardiovascular diseases. However, these regions may experience limitations due to limited healthcare infrastructure and budget constraints.
Overall, the regional analysis of the ultrasound market, including the IVUS segment, provides invaluable insight into market trends, growth potentials, and chances for players to expand their businesses and boost their market share.
Key Regions
- 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
Key Players Analysis
The market for intravascular ultrasound is highly competitive, with many companies competing to offer a range of goods and services. Predictions indicate the market will keep expanding over the coming years as major players focus on strategic alliances and acquisitions to stay ahead, expand their product portfolios, and address the rising prevalence of cardiovascular diseases and demand for minimally invasive procedures.
Listed below are some of the most prominent intravascular ultrasound industry players.
Market Key Players
- 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 Developments
- 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.
Report Scope
Report Features Description Market Value (2022) USD 707.55 Mn Forecast Revenue (2032) USD 1296 Mn CAGR (2023-2032) 6.4% Base Year for Estimation 2022 Historic Period 2016-2022 Forecast Period 2023-2032 Report Coverage Revenue Forecast, Market Dynamics, COVID-19 Impact, Competitive Landscape, Recent Developments Segments Covered By Modality-iMAP, Virtual Histology, and Integrated Backscatter Intravascular Ultrasound; By Product-Consoles, Accessories, and Catheter; By End User-Clinics, Hospitals, Mobile Imaging Centers, Research and Academic Institutions, and Other End-Users; By Application-Coronary Diagnosis, Coronary Intervention, Coronary Research, Non-coronary Regional Analysis 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; the Middle East & Africa – Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, & Rest of MEA Competitive Landscape 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 Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements. Purchase Options We have three licenses to opt for: Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF) Frequently Asked Questions (FAQ)
List the segments encompassed in this report on the Intravascular Ultrasound market?In terms of region, the industry is segmented into the Intravascular Ultrasound market by geography (North America, Europe, APAC, South America, and Middle East & Africa). By Modality, the industry has been segmented into (iMap IVUS, Virtual Histology IVUS, and Integrated Backscatter IVUS), By Product, the industry has been segmented into (Consoles and Accessories), By End-Use, the industry has been segmented into (Hospitals, Diagnostic Centers, and Academic and Research Institutes)
List the key industry players of Intravascular Ultrasound?Hitachi, Philips, Fujifilm Medical Systems, Siemens Healthcare, Boston Scientific Corporation, Canon Medical, Medtronic, and Other Key Players are engaged in the Intravascular Ultrasound industry.
Name the key areas of business for Intravascular Ultrasound?The U.S., Canada, U.K., Germany, China, Japan, Mexico, Brazil, South Africa, and Saudi Arabia are key areas of operation for the Intravascular Ultrasound Market.
Which segment accounts for the greatest industry share in the Intravascular Ultrasound industry?Concerning the Intravascular Ultrasound industry, vendors can expect to leverage greater prospective business opportunities through the iMap and accessories segment, as this area of interest accounts for the major share of industry.
Intravascular Ultrasound [IVUS] Devices MarketPublished date: July 2024add_shopping_cartBuy Now get_appDownload Sample -
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- Canon Medical Systems Corp
- Boston Scientific Corporation Company Profile
- GE Healthcare
- Philips
- Siemens Healthcare
- Hitachi Ltd. Company Profile
- Mindray Medical International Ltd
- Fujifilm Corp
- Samsung Medison
- Chison Medical Technologies
- Axle Internationals
- Infraredx Inc
- Terumo Corporation Company Profile
- Other Key Players
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