In 2021, the Global Intravascular Ultrasound (IVUS) Market held a valuation of approximately USD 714.85 million. As per DelveInsight, during the forecast period spanning from 2023 to 2028, the market will grow at a CAGR of about 7.10%, ultimately reaching a value of around USD 1,065.26 million by 2028. The escalating incidence of cardiovascular diseases (CVDs) and their associated risk factors such as obesity, diabetes, and hypertension are the primary driving forces behind the increasing demand for Intravascular Ultrasound (IVUS). Moreover, the demand is anticipated to grow owing to the ongoing technological advancements and the continual introduction of new products in the market. Some of the prominent companies in the Intravascular Ultrasound market such as Koninklijke Philips N.V., Boston Scientific Corporation, Terumo Corporation, Nipro, Conavi Medical, Bracco, Intravascular Imaging Incorporated (i3), Insight Lifetech Co., Ltd., Shanghai Pulse Medical Technology Inc., among others actively working to develop new and innovative products to capture market share.
DelveInsight’s “Intravascular Ultrasound Market Insight, Competitive Landscape and Market Forecast 2028” research report provides the current and forecasted Intravascular Ultrasound market size, share, and trends analysis for the next five years. Moreover, it highlights the ongoing innovations in the segment, major market drivers & barriers, key competitors, and emerging devices in the domain.
Intravascular Ultrasound Market: Overview
Intravascular Ultrasound (IVUS) is a medical imaging technique that involves the use of ultrasound technology to visualize the inside of blood vessels. It is a specialized form of medical imaging that provides real-time, high-resolution images of the blood vessel walls and their surrounding structures. IVUS is commonly used in the field of cardiology to assess the condition of coronary arteries and other blood vessels.
The procedure involves inserting a tiny ultrasound probe, also known as a transducer, into the blood vessel of interest. This probe emits high-frequency sound waves that bounce off the blood vessel walls and surrounding tissues. The echoes produced by these sound waves are captured by the transducer and converted into detailed images by a computer. These images allow medical professionals to visualize the inner layers of blood vessels, including the thickness of the vessel walls, the presence of plaque buildup (atherosclerosis), and the extent of any blockages. IVUS provides valuable information that traditional angiography (X-ray imaging with the use of contrast dye) may not capture. It allows for better visualization of vessel walls, helps in assessing the severity of atherosclerotic plaques, guides the placement of stents during angioplasty procedures, and aids in selecting appropriate treatment strategies for cardiovascular diseases.
Overall, Intravascular Ultrasound plays a crucial role in diagnosing and treating conditions related to the cardiovascular system, providing clinicians with detailed insights into the condition of blood vessels and assisting in making informed medical decisions.
To provide a better understanding of the market dynamics, DelveInsight’s “Intravascular Ultrasound Market” report provides an in-depth assessment of the market by type (IVUS consoles and IVUS catheters), application (coronary and peripheral interventions), and end-user (hospitals and clinics, diagnostic imaging centers, and others). In the type segment, IVUS catheters segment has a revenue share of 66.65% in the year 2021. This phenomenon can be attributed to the utilization of IVUS catheters in interventional cardiology and the recent introduction of new products in the IVUS catheter domain. As a result, the diverse benefits provided by IVUS catheters, combined with the rollout of new products, are anticipated to lead to a rise in the general demand for this type of product in the upcoming years. This, in turn, is expected to propel the expansion of the overall intravascular ultrasound (IVUS) market throughout the projected time frame.
The expansion of the Intravascular Ultrasound (IVUS) market is attributed to an increasing need for its products due to the escalating occurrence of cardiovascular conditions such as coronary heart disease, peripheral arterial disease, cerebrovascular disease, and others. This surge in cardiovascular diseases has emerged as a significant driving force for the growth of the intravascular ultrasound (IVUS) market.
According to data from the American Heart Association (2022), approximately 244.1 million individuals were affected by coronary (ischemic) heart disease worldwide in the year 2020. Regions including North Africa, the Middle East, Central, and South Asia, as well as Eastern Europe, exhibited the highest prevalence rates of coronary (ischemic) heart disease on a global scale during the same year. The market growth of intravascular ultrasound (IVUS) is propelled by the escalating occurrence of cardiovascular diseases, which is primarily attributed to a growing array of risk factors. These factors encompass obesity, hypertension, diabetes, smoking, advanced age, alcohol consumption, unhealthy lifestyle, atherosclerosis, and various others. Furthermore, the progression of the global Intravascular Ultrasound (IVUS) market is anticipated to be supported by endeavors in product development, including the approval of newly introduced IVUS products.
Nonetheless, the growth of the intravascular ultrasound (IVUS) devices market might be constrained by the existence of alternatives like optical coherence tomography (OCT) and angiography, coupled with instances of multiple product recalls. Likewise, the rigorous regulatory procedures and the elevated device costs could potentially serve as limiting factors for the growth of the Intravascular Ultrasound market.
Interested to know more about the ongoing developments in the market? Visit to get an in-depth insight @ Intravascular Ultrasound Types and Emerging Products
Among all global regions, North America holds a significant market share. As per the estimate, the Intravascular Ultrasound (IVUS) market share in North America was 44.65% in 2021. This dominance is attributable to the escalating incidence of diverse cardiovascular ailments including peripheral artery disease (PAD), coronary artery disease (CAD), arteriosclerosis, and blood clots across the region. As per the American Heart Association, by 2035, more than 130 million US adults will have some type of heart disease. PAD, which is one of the most prevalent in the US, affected around 8.5 million U.S. adults over the age of 40, in 2021. Similarly, according to the CDC, one person dies every 34 seconds in the United States from cardiovascular disease. About 697,000 people in the United States died from heart disease in 2020, in the United States and about 20.1 million adults aged 20 and above had coronary artery disease (CAD). Consequently, the growing incidence of diverse cardiovascular conditions is poised to boost the requirement for intravascular ultrasound within the North American region throughout the projected time frame spanning from 2023 to 2028.
Moreover, the increasing research and development endeavors focused on introducing novel intravascular ultrasound devices, coupled with strategic business initiatives pursued by key industry players to broaden their product offerings, and the rise in commercial activities such as mergers and acquisitions, are other key factors propelling market growth in North America.
Interested in knowing how the market will grow by 2028? Click to get a snapshot @ Intravascular Ultrasound Market Trends and Developments
Over the years, the Intravascular Ultrasound market has evolved significantly, owing to the active participation of the global MedTech companies and technological advancements in the domain. Similarly, several clinical, commercial, and regulatory developments have also been registered in the domain. Some of the major advancements in the Intravascular Ultrasound market in recent years include –
- In September 2022, Insight Lifetech was granted NMPA (National Medical Products Administration) approval for its first self-designed and developed IVUS (Intravascular Ultrasound) systems– VivoHeart IVUS console and TrueVision IVUS Imaging Catheter.
- In July 2022, I3 launched its proprietary 3-French NIRF-IVUS Catheter designed in collaboration with Massachusetts General Hospital; combining intravascular ultrasound, the dominant imaging approach used for coronary stent optimization during percutaneous coronary intervention (PCI), with near-infrared fluorescence imaging.
- In December 2021, Royal Philips announced that it signed an agreement to acquire Vesper Medical Inc., a developer of minimally invasive peripheral vascular devices based in the United States. Philips stated that the acquisition complements its intravascular ultrasound (IVUS) products for venous imaging.
- In December 2021, Conavi Medical Inc., entered into agreements for over $20 million in funding to support the commercialization and growth of its innovative Novasight Hybrid® System for the market. The company aimed to raise an additional $10 million as part of an ongoing financing effort.
- In April 2021, Nipro Medical Corporation (NMC), announced the creation of a Vascular Division in the U.S. The division included several cutting-edge technologies, innovative vascular and cardiovascular products to provide clinicians with procedural and imaging solutions that enhance patient care. The division will include intravascular imaging technologies, vascular therapies, and breakthrough technologies.
- In February 2020, Conavi Medical Inc. and Japan Lifeline announced that they received regulatory approval from the Ministry of Health, Labor and Welfare (MHLW) in Japan for the Novasight Hybrid intravascular imaging system.
Learn more about major clinical and commercial development in the market @ Intravascular Ultrasound Market – Clinical and Commercial Development Activities
Globally, some of the leading MedTech giants working in the Intravascular Ultrasound market include Koninklijke Philips N.V., Boston Scientific Corporation, Terumo Corporation, Nipro, Conavi Medical, Bracco, Intravascular Imaging Incorporated (i3), Insight Lifetech Co., Ltd., Shanghai Pulse Medical Technology Inc., and others. Due to increasing demand and favorable revenue generation prospects, a number of new entrants are expected to join the market, resulting in heightened competitiveness within the sector.
Learn how new players’ entries will transform the market dynamics in the coming years @ Intravascular Ultrasound Competitive Landscape
Scope of the Intravascular Ultrasound Market Report:
- Study Period – 2020-2028
- Geography Covered – North America, Europe, Asia-Pacific, and Rest of the World
- Intravascular Ultrasound Market Assessment –
- By Type – IVUS Consoles and IVUS Catheters
- By Application – Coronary and Peripheral Interventions
- End-User – Hospitals and Clinics, Diagnostic Imaging Centers
- Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s Views
Table of Content
|3||Regulatory and Patent Analysis|
|4||Intravascular Ultrasound Market Key Factors Analysis|
|5||Intravascular Ultrasound Porter’s Five Forces Analysis|
|6||COVID-19 Impact Analysis on the Intravascular Ultrasound Market|
|7||Intravascular Ultrasound Market Layout|
|8||Intravascular Ultrasound Global Company Share Analysis – Key 3–5 Companies|
|9||Intravascular Ultrasound Product Profiles and Key Companies|
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