Intravascular Ultrasound (IVUS) Devices Market size is estimated to reach $486.76 Million by 2025, growing at a CAGR of 6.2% during the forecast period 2020-2025. Intravascular Ultrasound (IVUS) is a medical imaging methodology using a designed catheter with an ultrasound probe attached to the distal end of the catheter. Rapid increase in the number of cardiovascular diseases, sedentary lifestyle, inclination towards less invasive procedures, increasing research and development activities and increase in the number of stent procedures are the factors that are set to drive the growth of the global market for the forecast period 2020-2025.
By Product Type- Segment Analysis
Based on the Product Type, the Accessories segment held the largest share in 2019 owing to its several applications such as it is used in the medical procedures of cardiac surgeries and stents placement and it allows real-time viewing of organ movement. Consoles segment is estimated to be the fastest growing segment during the forecast period 2020-2025. The growth in this segment is owing to its several applications such as reconstruction of images, overcomes the limitations of angiography and increases the processing power and image quality.
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By Modality- Segment Analysis
Based on the Modality, the Histology IVUS segment held the largest share in 2019 owing to its applications such as it identifies plaque components, describes the pattern of coronary plaque and correctly identifies the presence of necrotic core. IMap IVUS segment is estimated to be the fastest growing segment owing to its applications such as tissue characterization by using histology derived database and frequency spectrum and provides a better classification of plaque by involving more calculations than virtual histology.
By Geography - Segment Analysis
Based on the Geography, North America held the largest share in 2019. The growth in this segment is owing to the factors such as advancements in technology, growing prevalence of coronary artery diseases, and rapid growth in the healthcare infrastructure and increase in the number of diseases. Asia-Pacific is estimated to be the fastest growing segment owing to the factors such as rapid increase in the number of cardiac surgeries, increase in the investment by the major companies in the developing nations and increase in the disposable income of individuals.
Drivers – Intravascular Ultrasound (IVUS) Devices Market
Increase in the image output quality and developments in the image guided therapeutic treatment :
The developments in the image guided therapeutic treatment and increase in the image quality output led to rapid increase in the growth of Intravascular Ultrasound (IVUS) Devices Market. The increase in the number of stent procedures and increase in the number of obese population is also estimated to enhance the growth of Intravascular Ultrasound (IVUS) Devices Market.
Technological advancements and inclination towards less invasive procedures :
The inclination towards less invasive procedures owing to the sedentary lifestyle, increasing aging population and advancements in technology is estimated to enhance the growth of Intravascular Ultrasound (IVUS) Devices Market. Increase in the number of cardiovascular diseases is also estimated to enhance the growth of the Intravascular Ultrasound (IVUS) Devices Market.
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Challenges – Intravascular Ultrasound (IVUS) Devices Market
High cost and lack of uniform reimbursement :
High cost and lack of uniform reimbursement are the major factors, which are estimated to reduce the growth of the Intravascular Ultrasound (IVUS) Devices Market. The threat from optical coherence tomography is also said to reduce the growth of the Intravascular Ultrasound (IVUS) Devices Market.
Intravascular Ultrasound (IVUS) Devices Industry outlook
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Intravascular Ultrasound (IVUS) Devices Market. Key companies of this market are GE Healthcare, Hitachi Ltd, Siemens Healthineers, Boston Scientific Corporation, Volcano Corporation, Infraredx, Silicon Valley Medical Instruments, Avinger Inc., Philips, Canon Medical Systems Corporation among others.
Acquisitions/Product Launches
In 2019, Philips has launched its new IntraSight Interventional Applications platform, which offers a comprehensive suite of clinically proven instant intravascular ultrasound modalities to simplify complex interventions and speed routine procedures.
In 2020, Hitachi Ltd has launched ARIETTA 750, a new model from the ARIETTA intravascular ultrasound diagnostic platform series for supporting the state-of-the-art image processing technologies and applications.
Related Reports :
A. Ultrasound Devices Market
https://www.industryarc.com/Report/1324/Ultrasound-Devices-Market-Analysis-Report.html
B. Ultrasound Sensors Market
https://www.industryarc.com/Report/16989/ultrasound-sensors-market.html
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