PUBLISHER: The Business Research Company | PRODUCT CODE: 1566718
PUBLISHER: The Business Research Company | PRODUCT CODE: 1566718
Intravascular ultrasound is a medical imaging technique that utilizes sound waves to produce real-time images of blood vessel walls. This aids in the evaluation of coronary artery disease and guides stent placement during procedures. It offers precise, real-time visualization of arterial structures, improving treatment planning and outcomes in interventional cardiology.
The intravascular ultrasound market primarily includes platform intravascular ultrasound and compact intravascular ultrasound. A platform system is an integrated setup comprising the IVUS console, imaging software, and user interface, all working together to capture, process, and display real-time ultrasound images of blood vessels for both diagnostic and therapeutic purposes. The different modalities are virtual histology intravascular ultrasound (IVUS), iMap intravascular ultrasound (IVUS), and integrated backscatter intravascular ultrasound (IVUS). Applications cover peripheral arterial diseases and cardiovascular diseases, with end users including hospitals, diagnostic centers, and academic and research institutions.
The intravascular ultrasound market research report is one of a series of new reports from The Business Research Company that provides intravascular ultrasound market statistics, including the intravascular ultrasound industry global market size, regional shares, competitors with intravascular ultrasound market share, detailed intravascular ultrasound market segments, market trends, and opportunities, and any further data you may need to thrive in the intravascular ultrasound industry. These intravascular ultrasound market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The intravascular ultrasound market size has grown strongly in recent years. It will grow from $2.28 billion in 2023 to $2.49 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth during the historic period can be attributed to a higher prevalence of cardiovascular diseases, an increase in minimally invasive procedures, a growing geriatric population, expansion of healthcare infrastructure, and rising healthcare expenditure.
The intravascular ultrasound market size is expected to see strong growth in the next few years. It will grow to $3.52 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The anticipated growth during the forecast period can be attributed to the increasing adoption of IVUS in coronary interventions, growing awareness of early diagnosis and treatment of heart diseases, the development of high-definition IVUS catheters, a surge in research and development in medical imaging, and the rising prevalence of diabetes. Major trends for this period include the adoption of IVUS technology, the implementation of AI and machine learning algorithms, the development of portable and miniaturized IVUS devices, the use of 3D IVUS imaging for improved visualization, advancements in image resolution, and the integration of real-time feedback systems.
The rising prevalence of cardiovascular diseases (CVDs) is expected to drive the growth of the intravascular ultrasound market in the future. Cardiovascular diseases (CVDs) encompass a range of disorders affecting the heart and blood vessels. The increase in CVD cases is attributed to factors such as lack of physical activity, unhealthy diet, smoking, chronic stress, and excessive alcohol consumption. Intravascular Ultrasound (IVUS) is a crucial diagnostic tool for managing cardiovascular diseases (CVDs). It offers detailed images and information about the interior of blood vessels, especially coronary arteries, greatly improving the diagnosis, treatment, and management of various cardiovascular conditions. For example, in April 2023, the British Heart Foundation, a UK-based cardiovascular research charity, reported that the total number of deaths from all heart and circulatory diseases in Scotland rose to 17,639 in 2021 from 17,448 in 2020. Additionally, deaths from coronary heart disease in the UK reached 65,579 in 2021, up from 64,170 in 2020. Consequently, the increasing prevalence of cardiovascular diseases (CVDs) is fueling the growth of the intravascular ultrasound market.
Key companies in the intravascular ultrasound market are advancing technology with sonic lumen tomography (SLT) to enhance diagnostic capabilities, improve decision-making in cardiovascular procedures, and ultimately boost patient outcomes. Sonic lumen tomography (SLT) technology provides high-resolution, cross-sectional images of the lumen (the inner space of a blood vessel) and vessel walls, enhancing vessel visualization. For instance, in May 2024, Provisio Medical Inc., a US-based medical equipment manufacturer, introduced the Provisio SLT Intravascular Ultrasound (IVUS) system. The Provisio SLT IVUS System includes the SLT IVUS P1 system and the SLT IVUS support crossing catheter. This system uses Sonic Lumen Tomography technology to enhance vessel sizing data acquisition and presentation. It shortens data acquisition time, reduces contrast media use, and lowers radiation exposure while maintaining the physician's workflow.
In March 2024, Titan Medical Inc., a Canada-based medical technology company, merged with Conavi Medical for an undisclosed amount. This merger aims to form a leading public company in hybrid intravascular imaging by combining resources to speed up commercialization. The strategic merger is intended to expand market reach, enhance financial capabilities, and facilitate the global deployment of advanced imaging technologies. Conavi Medical, also based in Canada, specializes in the Novasight Hybrid System, which integrates intravascular ultrasound (IVUS) and optical coherence tomography (OCT) for advanced imaging in cardiovascular procedures.
Major companies operating in the intravascular ultrasound market are Abbott Laboratories, Medtronic plc, Siemens Healthcare GmbH, Fujifilm Corporation, GE HealthCare Technologies Inc., Koninklijke Philips N.V., Boston Scientific Corporation, B. Braun Holding GmbH & Co. KG, Terumo Corporation, Fujikura Ltd., Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Nipro Corporation, Shimadzu Corporation, Cook Group Incorporated, Analogic Corporation, Canon Medical Systems Corporation, ACIST Medical Systems Inc., Insightec Ltd., HeartFlow Inc., Chison Medical Technologies Co. Ltd., CIVCO Medical Instruments Co. Inc., Pie Medical Imaging BV, Conavi Medical Inc., Samsung Medison Co. Ltd., Esaote S.p.A., Sonic Concepts Inc.
North America was the largest region in the intravascular ultrasound market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the intravascular ultrasound market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the intravascular ultrasound market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The intravascular ultrasound market consists of revenues earned by entities by providing services such as clinical training, on-site installation, regular maintenance, technical support, data management, image analysis, and clinical and regulatory consulting. The market value includes the value of related goods sold by the service provider or included within the service offering. The intravascular ultrasound market also includes sales of Intravascular ultrasound (IVUS) catheters, imaging consoles, ultrasound transducers, guide wires, pullback devices. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Intravascular Ultrasound Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on intravascular ultrasound market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for intravascular ultrasound ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The intravascular ultrasound market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.