According to the report, the global intravascular ultrasound (IVUS) devices market was valued at ~US$ 600 MN in 2020. It is projected to expand at a CAGR of ~7% from 2021 to 2031. IVUS devices are used to assess vessel/lumen diameter and lesion length. It helps to determine the amount of plaque buildup in a vessel and its composition. It is further used to ensure that stents have been properly placed and fully deployed.
North America held a major share of the global intravascular ultrasound (IVUS) devices market in 2020, owing to the availability of skilled doctors, well-established healthcare facilities, and high healthcare expenditure. The intravascular ultrasound (IVUS) devices market in Asia Pacific is projected to expand at a notable CAGR of 8.5% from 2021 to 2031, owing to a surge in patient pool and rise in adoption of technologically advanced diagnostic equipment.
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According to the statistics reported by WHO, cardiovascular diseases are the number one cause of death, accounting for nearly 17.9 million deaths globally every year. Cardiovascular diseases are a group of rheumatic heart disease, cerebrovascular disease, coronary heart disease, and other conditions. CDC states that about 30.3 million adults were diagnosed with heart disease, i.e., 12.1% of the total adult population in the U.S., in 2018. The primary causes of high incidence of cardiovascular diseases include diabetes, smoking, hyperlipidemia, hypertension, obesity, poor nutrition, and lack of physical activity. Thus, large cardiovascular patient base is anticipated to boost the intravascular ultrasound devices market during the forecast period.
Ultrasound is among the imaging techniques that involves great interaction between patient and healthcare professional. Unless these techniques are carried out safely, it could increase risk of COVID-19 infection among physicians and patients. Such developments are predicted to affect growth in the intravascular ultrasound (IVUS) devices market.
Cleaning and disinfection of IVUS devices have become crucial, since the risk of contracting coronavirus in emergency cases is high if the devices are not thoroughly examined. Companies in the intravascular ultrasound (IVUS) devices market and healthcare facilities are gaining awareness to follow specific instructions for sanitization of IVUS devices. Healthcare facilities are using suitable disinfection agents such as sodium hypochlorite solutions and ethanol solutions, among others, to sanitize ultrasound probes and systems.
The intravascular ultrasound (IVUS) devices market is projected to cross US$ 1.2 Bn by 2031. In order to increase clinical outcomes and improve diagnosis of left main coronary artery disease, med-tech companies are combining IVUS with optical coherence tomography (OCT) in devices to visualize intracoronary structures. However, it is unclear which imaging modality is better as a guidance and diagnostic tool. As such, each imaging modality is highly dependent on specific anatomic and patient characteristics. Such findings are influencing the growth of the market.
Med-tech companies are increasing their R&D efforts to develop hybrid catheters using IVUS and OCT imaging modalities to advance in diagnosis for multi-vessel coronary artery disease.
Intravascular Ultrasound (IVUS) Devices Market: Key Segments
- In terms of product, the global intravascular ultrasound (IVUS) devices market has been classified into IVUS consoles and IVUS catheters. The IVUS consoles segment has been further sub-segmented into integrated system and cart system. The IVUS catheters segment has been further segregated into IVUS transducers and IVUS accessories.
- Based on application, the global intravascular ultrasound (IVUS) devices market has been split into coronary diagnosis, coronary intervention, coronary research, and non-coronary/peripheral applications. The coronary intervention segment accounted for a major share of the global market in 2020, as IVUS guidance during coronary intervention significantly lowers the risk of major adverse cardiovascular events (MACE).
- In terms of end user, the global intravascular ultrasound (IVUS) devices market has been divided into hospitals, specialty clinics, ambulatory surgical centers, diagnostic laboratories, and research institutes. The specialty clinics segment is expected to expand at a high CAGR from 2021 to 2031. Increase in capacity building efforts and adoption of IVUS systems in the specialty clinics industry are likely to fuel the segment during the forecast period.
- Market size and forecast for each of these segments have been provided from 2017 to 2031. The CAGR of respective segment has also been provided from 2021 to 2031, considering 2020 as the base year.
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Intravascular Ultrasound (IVUS) Devices Market: Regional Outlook
- In terms of region, the global intravascular ultrasound (IVUS) devices market has been segmented into North America (U.S. and Canada), Europe (U.K., Germany, Spain, Italy, France, and Rest of Europe), Asia Pacific (China, India, Japan, Australia & New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Middle East & Africa (GCC Countries, South Africa, and Rest of Middle East & Africa). Each region considered in the market has been further divided into countries/sub-regions.
- The intravascular ultrasound (IVUS) devices market report provides size and forecast for each region and country/sub-region from 2017 to 2031. The CAGR for each of these regions and countries has also been provided for the forecast period from 2021 to 2031. The intravascular ultrasound (IVUS) devices market study also covers the competitive scenario in these regions.
Growth Strategies of Key Players
Key players operating in the global intravascular ultrasound (IVUS) devices market are Axle International, Boston Scientific Corporation, Infraredx, Inc., Koninklijke Philips N.V., Terumo Corporation, Siemens Healthineers AG, Conavi Medical Inc. and ACIST Medical Systems. These companies engage in research & development to develop novel products in order to expand product offerings and customer base. In May 2019, Koninklijke Philips N.V. launched the new IntraSight interventional applications platform. It enables systems to integrate physiology and intravascular imaging applications for image-guided procedures. This product launch enabled the company to expand its product portfolio and strengthen its position in the global intravascular ultrasound (IVUS) devices market.
Global Intravascular Ultrasound (IVUS) Devices Market: Segmentation
- Intravascular Ultrasound (IVUS) Devices Market, by Product
- IVUS Consoles
- Integrated System
- Cart System
- IVUS Catheters
- IVUS Transducers
- IVUS Accessories
- Intravascular Ultrasound (IVUS) Devices Market, by Application
- Coronary Diagnosis
- Coronary Intervention
- Coronary Research
- Non-coronary/Peripheral Applications
- Intravascular Ultrasound (IVUS) Devices Market, by End User
- Specialty Clinics
- Ambulatory Surgical Centers
- Diagnostic Laboratories
- Research Institutes
- IVUS Consoles
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- Intravascular Ultrasound (IVUS) Devices Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
- North America
- COVID-19 Global & China Intravascular Ultrasound Devices Market Research By Company, Type & Application 2015-2026
- Global Intravascular Ultrasound Devices Market Research Report 2021
- Global And United States Intravascular Ultrasound Devices Market Insights, Forecast To 2026
- Global Intravascular Ultrasound Devices Market Insights And Forecast To 2026
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