PUBLISHER: The Business Research Company | PRODUCT CODE: 1572640
PUBLISHER: The Business Research Company | PRODUCT CODE: 1572640
Vascular imaging devices are medical tools that employ non-invasive techniques to visualize blood vessels and the circulatory system. They use various technologies to produce detailed images of the vascular network, assisting in the diagnosis and treatment of cardiovascular issues.
The primary categories of vascular imaging devices are minimally invasive and non-invasive. Minimally invasive procedures involve small incisions or catheters to access internal structures for diagnostic or therapeutic purposes. These devices are used in a range of applications, including diagnostics and treatment, serving end-users such as hospitals, diagnostic imaging centers, and other medical facilities.
The vascular imaging devices market research report is one of a series of new reports from The Business Research Company that provides vascular imaging devices market statistics, including vascular imaging devices industry global market size, regional shares, competitors with a vascular imaging devices market share, detailed vascular imaging devices market segments, market trends and opportunities, and any further data you may need to thrive in the vascular imaging devices industry. This vascular imaging devices market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The vascular imaging devices market size has grown strongly in recent years. It will grow from $7.57 billion in 2023 to $8 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth during the historic period can be attributed to the rising incidence of cardiovascular diseases, an expanding aging population worldwide, increased rates of diabetes and obesity, advancements in research on vascular diseases and treatments, heightened patient awareness and demand, and a growing emphasis on cost-effectiveness and efficiency.
The vascular imaging devices market size is expected to see strong growth in the next few years. It will grow to $10.02 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The projected growth during the forecast period can be attributed to advancements in resolution, faster processing speeds, and enhanced image quality, as well as the adoption of AI and machine learning algorithms, efforts to contain healthcare costs, and evolving reimbursement policies. Key trends expected include improvements in imaging resolution, innovative angiography systems, the integration of AI algorithms, the use of 3D and 4D imaging, and the incorporation of wireless technology.
The rising incidence of diabetes and hypertension is expected to boost the demand for vascular imaging devices. Diabetes is a chronic condition where the body either does not produce insulin or does not use it effectively, while hypertension is characterized by abnormally high blood pressure in the arteries. The prevalence of these conditions is influenced by factors such as increasing obesity rates, sedentary lifestyles, poor diets, and an aging population. Vascular imaging devices help diagnose and monitor diabetes and hypertension by providing detailed images of blood vessels, which aids in assessing the impact of these conditions and managing treatments. For example, a report by the American College of Cardiology in August 2022 projected significant increases in cardiovascular risk factors in the U.S. population from 2025 to 2060, with diabetes expected to rise the most-from 39.3% to 55 million people-followed by dyslipidemia, hypertension, and obesity. Consequently, the growing prevalence of diabetes and hypertension is driving the vascular imaging device market.
Companies in the vascular imaging devices market are concentrating on advanced technologies, such as wireless handheld ultrasound devices, to enhance diagnostic precision, improve patient comfort, and streamline clinical workflows. Wireless handheld ultrasound devices are compact, portable imaging tools that transmit images wirelessly, offering convenience and flexibility without the need for cables. For instance, in August 2023, GE Healthcare introduced the Vscan Air SL, a portable, wireless ultrasound device designed for rapid cardiac and vascular assessments at the point of care. This device features GE HealthCare's SignalMax and XDclear technologies, providing exceptional imaging quality and sensitivity through advanced single-crystal transducer technology.
In December 2021, GE Healthcare acquired BK Medical for $1.45 billion. This acquisition aims to expand GE Healthcare's capabilities by integrating real-time surgical visualization with its existing ultrasound technologies used before and after surgery. BK Medical, based in the U.S., specializes in manufacturing ultrasound systems and other medical devices.
Major companies operating in the vascular imaging devices market are Samsung Electronics Co. Ltd., Cardinal Health Inc., Abbott Laboratories, Medtronic plc, Siemens Healthineers AG, Koninklijke Philips N.V., GE Healthcare Technologies Inc., B. Braun Melsungen AG, Terumo Corporation, Nipro Corporation, Shimadzu Corporation, Teleflex Incorporated, Bracco Group, Carestream Health Inc., Hitachi Medical Corporation, Canon Medical Systems Corporation, Cardiva Medical Inc., Vasorum Ltd., Morris Innovative Inc., Tecmag Inc., VueTek Scientific LLC, Christie Medical Holdings Inc., Hologic Inc., Toshiba Medical Systems Corporation
North America was the largest region in the vascular imaging devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the vascular imaging devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the vascular imaging devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The vascular imaging devices market consists of sales of angiography systems, intravascular ultrasound systems, high-speed computed tomography systems, and portable doppler 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.
Vascular Imaging Devices 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 vascular imaging devices 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 vascular imaging devices ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The vascular imaging devices 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.