Intravascular Ultrasound Devices Market - Forecast(2024 - 2030)

Intravascular Ultrasound Devices Market size is estimated to reach $330.2 million by 2027, growing at a CAGR of 7.1% during the forecast period 2022-2027. Intravascular ultrasound (IVUS) is a medical imaging technique utilizing a specialized catheter with a reduced ultrasound investigation attached to the distal end of the catheter. The proximal end of the catheter is attached to computerized ultrasound machinery. It permits the use of ultrasound technology, like piezoelectric transducer or capacitive micromachined ultrasonic transducer (CMUT), to view from inside blood vessels out by way of the surrounding blood column, envisioning the endothelium (inner wall) of blood vessels. Piezoelectricity is the electric charge that collects in some solid materials like crystals, particular ceramics, and biological matter like bone, DNA, and different proteins in counter-response to applied mechanical stress. The term piezoelectricity means electricity issuing from pressure and latent heat. The accelerated R&D efforts are set to drive the Intravascular Ultrasound Devices Market. The increased application of novel and enhanced digital technologies advancing towards the combination of novel ultrasound machinery developments resulting in the launch of high-resolution medical imaging technologies are set to propel the growth of the Intravascular Ultrasound Devices Market during the forecast period 2022-2027. This represents the Intravascular Ultrasound Devices Industry Outlook.

Report Coverage

The report: “Intravascular Ultrasound Devices Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Intravascular Ultrasound Devices Market.

By Product Type: Consoles, Accessories.
By Modality: Virtual Histology IVUS, Imap IVUS, Integrated Backscatter IVUS.
By Application: Coronary Diagnosis, Coronary Intervention, Coronary Research, Non-Coronary / Peripheral Applications.
By End User: Hospitals, Specialty Clinics, Ambulatory Surgical Centers, Diagnostic Laboratories, Research Institutes.
By Geography: North America (the U.S, Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, Rest of South America) and Rest Of The World (Middle East, Africa).

Key Takeaways

• Geographically, North America Intravascular Ultrasound Devices Market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the increasing predominance of coronary artery ailment employing medical imaging techniques like cardiac imaging for diagnosis and superior health coverage in the North American region.
• Intravascular Ultrasound Devices Market growth is being driven by the soaring demand for effective diagnostic tools and medical imaging techniques for cardiovascular ailments like myocardial infarction owing to increasing incessant ailments. However, the rising count of product failures is one of the major factors hampering the growth of the Intravascular Ultrasound Devices Market.
• Intravascular Ultrasound Devices Market Detailed Analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Intravascular Ultrasound Devices Market report. 

Intravascular Ultrasound Devices Market Segment Analysis – By Product Type:

The Intravascular Ultrasound Devices Market based on product type can be further segmented into Consoles and Accessories. The Accessories Segment held the largest market share in 2021. This growth is owing to the soaring application of catheters which constitute a critical component of an IVUS test that may employ medical imaging. The increasing usage of guidewires in real-time observation of organ movement in conjunction with its heightening application in medical techniques like angiograms, cardiac surgeries, and stent placements are further propelling the growth of this segment.

Furthermore, the Consoles segment is estimated to grow with the fastest CAGR of 7.8% during the forecast period 2022-2027 owing to the accessibility of novel imaging consoles that have included angiographic co-registration in conjunction with the application of other medical imaging techniques.

Intravascular Ultrasound Devices Market Segment Analysis – By Modality:

The Intravascular Ultrasound Devices Market based on modality can be further segmented into Virtual Histology IVUS, Imap IVUS, and Integrated Backscatter IVUS. The Virtual Histology IVUS Segment held the largest market share in 2021. This growth is owing to the surging application of Virtual Histology IVUS in the characterization of tissues. Virtual histology IVUS is a conventional technique of intravascular ultrasound which is a medical imaging method. The increasing application of Virtual Histology IVUS in the comprehensive diagnosis of plaque composition is further propelling the growth of this segment.

Furthermore, the Imap IVUS segment is estimated to grow with the fastest CAGR of 8.1% during the forecast period 2022-2027 owing to the superior categorization of plaque resulting from greater calculations than Virtual Histology IVUS. Imap IVUS utilizes frequency spectrum and histology derived database for tissue characterization. The increased application of Imap IVUS and medical imaging in tissue characterization owing to pattern recognition of radio-frequency signals is further propelling the growth of this segment.

Intravascular Ultrasound Devices Market Segment Analysis – By Geography:

The Intravascular Ultrasound Devices Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America (Intravascular Ultrasound Devices Market) held the largest share with 37% of the overall market in 2021. The growth of this region is owing to the surging application of progressive technologies like medical imaging in the region. The accelerated development in the healthcare infrastructure is further propelling the growth of the Intravascular Ultrasound Devices Market in the North American region.

Furthermore, the Asia-Pacific region is estimated to be the region with the fastest CAGR rate over the forecast period 2022-2027. This growth is owing to factors like proliferating count of cardiac surgeries which may employ medical imaging techniques like cardiac imaging for diagnosis. The burgeoning financing by key firms in the developing economies is further fuelling the progress of the Intravascular Ultrasound Devices Market in the Asia-Pacific region.

Intravascular Ultrasound Devices Market Drivers

Surging Application Of Capacitive Micromachined Ultrasonic Transducer (CMUT) Technology Is Projected To Drive The Growth Of Intravascular Ultrasound Devices Market:

Intravascular ultrasound (IVUS) imaging has evolved into a significant imaging modality for the efficient diagnosis and healing of cardiovascular ailments during the past ten years authorized by innovative uses of piezoelectric transducer technology. The restraints in the production and performance of identical piezoelectric transducers have also obstructed the enhancement of IVUS for rising clinically significant uses like forward-viewing arrays for leading interventions and great resolution imaging of arterial structure like vulnerable plaque and fibrous cap, and also application of techniques like harmonic imaging of the tissue and of the contrast agents. Capacitive micromachined ultrasonic transducer (CMUT) technology demonstrates great potential for transforming IVUS not only to meet these clinical needs but also to open up the potential for low-cost imaging devices combined with therapeutic tools. Manufacturing techniques have been established with a peak process temperature of 250°C to construct CMUTs on the same silicon chip with combined electronics. Utilizing these techniques, CMUT arrays were assembled appropriately for forwarding viewing IVUS in the 10-20MHz range. These array elements were featured in terms of pulse-echo response, radiation pattern measurements and displayed their volumetric imaging potentialities on different imaging targets. The increased application of Capacitive Micromachined Ultrasonic Transducer (CMUT) Technology is therefore fuelling the growth of the Intravascular Ultrasound Devices Market during the forecast period 2022-2027.

Technological Innovations Are Expected To Boost The Demand Of Intravascular Ultrasound Devices:

Technological innovations are driving the growth of the Intravascular Ultrasound Devices market. Capacitive Micromachined Ultrasonic Transducer (CMUT) is greatly applied in intravascular ultrasound (IVUS). Philips intravascular ultrasound (IVUS) imaging provides progressive visualization that allows customizing the treatment for each patient. The solutions not apparent from angiography only can be obtained by utilizing Intravascular Ultrasound (IVUS) in the treatment strategy. Philips IVUS assists in determining the top therapy option, leading pre-stent planning, and validating and optimizing treatment outcomes. In November 2021, Philips declared the North American accessibility of novel innovations in its portfolio of cardiology solutions planned to smoothly work together, strengthen clinical confidence, build effectiveness all through the care pathway, and enhance cardiac care results and experiences. The novel updates, targeted at innovating and progressing processes inclusive of percutaneous coronary intervention (PCI) to treat the narrowing of coronary arteries, are being declared at the Transcatheter Cardiovascular Therapeutics (TCT) annual meeting (Orlando, USA, November 4-6). Additionally, Philips is highlighting novel clinical data being demonstrated at TCT that displays how novel minimally-invasive procedures are assisting to innovate interventional procedures and enhance patient results. These kinds of technological advancements are driving the growth of the Intravascular Ultrasound Devices Market during the forecast period 2022-2027.

Intravascular Ultrasound Devices Market Challenges

Limitations Of Intravascular Ultrasound Devices Are Challenging The Growth Of The Intravascular Ultrasound Devices Market:

The principal limitations of Intravascular Ultrasound (IVUS) being utilized commonly in a cardiac catheterization laboratory are its cost, the boost in the time of the technique, and the fact that it is regarded as an interventional technique, and needs to be carried out by angiographies who are coached in interventional cardiology procedures. Additionally, there can be added hazards imposed by the application of the IVUS catheter. Moreover, IVUS contributes considerable added examination time and some raised hazards to the patient beyond carrying out a standard diagnostic angiographic examination. This boost is considerably less when IVUS is part of a percutaneous coronary intervention since much of the installation is identical for the intervention and for the IVUS imaging. These issues are hampering the growth of the Intravascular Ultrasound Devices Market.

Intravascular Ultrasound Devices Market Landscape:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Intravascular Ultrasound Devices Market. Key companies of this market include:

1. Philips
2. GE Healthcare
3. Siemens Healthineers
4. Boston Scientific Corporation
5. Volcano Corporation
6. Infraredx
7. Silicon Valley Medical Instruments
8. Avinger Inc.
9. Canon Medical Systems Corporation
10. Hitachi

Acquisitions/Product Launches:

• In September 2021, Siemens Healthineers introduced Luminos Impulse, a fluoroscopy system with a novel design and characteristics shared by high-end fluoroscopy systems inclusive of a smooth imaging chain, exhaustive dose optimization, cybersecurity characteristics, and detector-sharing possibilities for radiography.
• In May 2021, Siemens Healthineers introduced Somatom X.ceed, a novel high-resolution, high-speed CT (computed tomography) scanner engineered particularly for the most demanding clinical areas where time and accuracy are of significance.
• In January 2021, Avinger, Inc. declared complete commercial kick-off of its Tigereye™ image-guided chronic total occlusion (CTO) crossing system. With the introduction of complete commercial kick-off, current and prospective accounts all through the U.S. and Germany are presently capable of placing orders for the Tigereye appliance. At the time of the final quarter of 2020, Avinger administered a restricted kick-off at 12 clinical centers in the U.S. and Germany
  

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