The global intravascular ultrasound market is predicted to propel in the coming years owing to the rising prevalence of cardiovascular diseases (CVDs) and their risk factors such as obesity, diabetes, and high blood pressure, as well as increasing technological advancements and product launches, among others.
LAS VEGAS, Aug. 15, 2023 /PRNewswire/ -- DelveInsight's Intravascular Ultrasound Market Insights report provides the current and forecast market analysis, individual leading intravascular ultrasound companies' market shares, challenges, intravascular ultrasound market drivers, barriers, trends, and key market intravascular ultrasound companies in the market.
Key Takeaways from the Intravascular Ultrasound Market Report
- As per DelveInsight estimates, North America is anticipated to dominate the global intravascular ultrasound market during the forecast period.
- Notable intravascular ultrasound companies 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., and several others, are currently operating in the intravascular ultrasound market.
- 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 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 market. The company aimed to raise an additional $10 million as part of an ongoing financing effort.
To read more about the latest highlights related to the intravascular ultrasound market, get a snapshot of the key highlights entailed in the Global Intravascular Ultrasound Market Report
Intravascular Ultrasound Overview
Intravascular Ultrasound (IVUS) is a cutting-edge medical imaging technique that plays a crucial role in the field of cardiology. It involves the insertion of a tiny catheter with an ultrasound probe into blood vessels, typically within coronary arteries. This advanced technology allows physicians to obtain real-time, high-resolution images of the interior of blood vessels, enabling them to assess the extent of plaque buildup, arterial wall thickness, and other structural details that might be critical in diagnosing and treating cardiovascular diseases. IVUS provides invaluable insights that conventional angiography alone might miss, aiding cardiologists in making more informed decisions about stent placement, coronary interventions, and patient care strategies. By providing an intricate view of the blood vessel's condition, IVUS contributes significantly to enhancing patient outcomes and refining interventional procedures.
Intravascular Ultrasound Market Insights
North America held the greatest proportion of the intravascular ultrasound market in 2021, with 44.65%. This is due to the rising prevalence of cardiovascular disorders such as peripheral artery disease (PAD), coronary artery disease (CAD), arteriosclerosis, and blood clots throughout the region. Rising R&D activities in the region linked with the launch of new intravascular ultrasound devices, as well as strategic commercial operations by leading players to extend their product range, are driving intravascular ultrasound market expansion in North America.
In addition, Royal Philips stated in December 2021 that it had inked a deal to purchase Vesper Medical Inc., a US-based developer of minimally invasive peripheral vascular devices. The acquisition, according to Philips, complements its intravascular ultrasound solutions for venous imaging. Thus, the rising prevalence of various cardiovascular diseases, as well as development activities such as merger acquisitions by key companies in the IVUS segment, will drive up demand for intravascular ultrasound in the North American area between 2023 and 2028.
To know more about why North America is leading the market growth in the intravascular ultrasound market, get a snapshot of the Intravascular Ultrasound Market Outlook
Intravascular Ultrasound Market Dynamics
The intravascular ultrasound market is experiencing increased product demand as a result of the increasing prevalence of cardiovascular diseases such as coronary heart disease, peripheral arterial disease, and cerebrovascular disease, among others, which is becoming a major market driver for the intravascular ultrasound market. The growing number of risk factors for cardiovascular diseases, such as obesity, hypertension, diabetes, smoking, old age, alcohol consumption, unhealthy lifestyle, atherosclerosis, and others, is driving the intravascular ultrasound market growth. Furthermore, product development activities such as approvals for new IVUS-released products are likely to contribute to the global intravascular ultrasound market's growth.
However, the availability of alternatives such as optical coherence tomography (OCT) and angiography, as well as frequent product recalls, may limit the growth of the intravascular ultrasound devices market.
Additionally, the COVID-19 pandemic had a modest negative influence on intravascular ultrasound market growth because, for the first few months, the manufacture, supply, import, export, and other connected operations of the IVUS market were delayed due to lockdown impositions and border closures. Other than COVID-19, the diagnosis and treatment of health concerns, particularly cardiovascular disorders, has been halted worldwide.
The hospitals, clinics, and other medical facilities were swamped with handling and treating COVID-19 victims. This slowed the expansion of the intravascular ultrasound market by halting key IVUS-based diagnostic services. Though extrapulmonary symptoms impacting the cardiovascular system were detected in severe COVID patients, the utilization of other readily available and accessible imaging modalities such as X-rays and CT was more prevalent than IVUS. However, with the introduction of vaccines and mass vaccination against COVID-19, as well as the resumption of activities in industries such as the healthcare sector, the market for intravascular ultrasound is expected to recover in the coming years, indicating a positive outlook for the intravascular ultrasound market.
Get a sneak peek at the intravascular ultrasound market dynamics @ Intravascular Ultrasound Market Dynamics Analysis
Report Metrics | Details |
Coverage | Global |
Study Period | 2020-2028 |
Intravascular Ultrasound Market CAGR | ~7% |
Intravascular Ultrasound Market Size by 2028 | USD 1 Billion |
Key Intravascular Ultrasound Companies | 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 |
Intravascular Ultrasound Market Assessment
- Intravascular Ultrasound Market Segmentation
- Intravascular Ultrasound Market Segmentation By Type: IVUS Consoles and IVUS Catheters
- Intravascular Ultrasound Market Segmentation By Application: Coronary and Peripheral Interventions
- Intravascular Ultrasound Market Segmentation By End User: Hospitals And Clinics, Diagnostic Imaging Centers, and Others
- Intravascular Ultrasound Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
- Porter's Five Forces Analysis, Product Profiles, Case Studies, KOL's Views, Analyst's View
Which MedTech key players in the intravascular ultrasound market are set to emerge as the trendsetter explore @ Intravascular Ultrasound Companies
Table of Contents
1 | Report Introduction |
2 | Executive summary |
3 | Regulatory and Patent Analysis |
4 | Key Factors Analysis |
5 | Porter's Five Forces Analysis |
6 | COVID-19 Impact Analysis on Intravascular Ultrasound Market |
7 | Intravascular Ultrasound Market Layout |
8 | Global Company Share Analysis - Key 3-5 Companies |
9 | Intravascular Ultrasound Market Company and Product Profiles |
10 | Project Approach |
11 | About DelveInsight |
Interested in knowing the intravascular ultrasound market by 2028? Click to get a snapshot of the Intravascular Ultrasound Market Trends
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