The growing incidence of cardiovascular diseases, increase in research and development activities, and advancements in technology are propelling the market demand.
Market Size – USD 319.5 Million in 2018, Market Growth – CAGR of 6.3%, Market Trends – Growth in geriatric population.
The Global Intravascular Ultrasound (IVUS) Market is forecast to reach USD 555.3 Million by 2027, according to a new report by Reports and Data. Intravascular ultrasound uses a probe or transducer to generate sound waves and produce images of blood vessels. When the probe is used to evaluate the coronary arteries, intravascular ultrasound can show the entire artery wall and provide important information about the amount and type of plaque buildup, which helps in determining the risk for heart attack. Ultrasound has no known harmful effects as it does not use ionizing radiation, and can provide clear pictures of soft tissues that are not well seen on x-ray images.
An increase in the number of cosmetic procedures, a rise in the incidence of chronic diseases, and a surge in the number of surgeries among the aging population is driving the demand for the market. However, development in the non-invasive surgical technologies and intense competition among the manufacturers are expected to limit the growth of the market.
Top Players Covered in the Report Include:
Siemens Healthcare GmbH, Canon Medical Systems, Koninklijke Philips N.V., Hitachi Medical Corporation, Mindray Medical, Fujifilm Corporation, Chison Medical Imaging Co. Ltd., Samsung Medison, Canon Medical Systems, and Boston Medical Corporation, among others.
North America held the largest market share in the year 2018, owing to an extensive advancement in research and technology in the region. Improvements in the reimbursement scenario and increase in the surgical procedures are likely to propel the demand for the market in the region. High treatment efficacy standards are expected to augment the market in North American region.
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Further key findings from the report suggest
- In the arteries, intravascular ultrasound is performed to see peripheral arteries of the coronary arteries and legs, although it can be used in any artery in the body. It is generally used in conjunction with catheter angiography to help in the diagnosis of peripheral artery disease, which is not seen clearly in the angiogram and to plan the size of stents which may need to be placed to keep the artery open.
- Virtual histology intravascular ultrasound is based on the spectral analysis of the raw backscattered intravascular ultrasound radiofrequency (IVUS-RF) data. It utilizes a mathematical autoregressive model and constructs tissue maps that classify plaque into four major tissue types (fibrous, fibro-fatty, necrotic core, and dense calcium). VH-IVUS clinical utility ranges from predicting high-risk plaques for patients undergoing coronary angiography to predicting adverse events post percutaneous coronary intervention (PCI).
- Hospitals dominated the market owing to large footfall in the facility. Hospitals install medical imaging equipment as it can be a major source of profits from outpatients. Most of the more prominent hospitals have their own medical imaging facilities. However, medical imaging facilities require space, investment, skilled professionals, and high maintenance costs. Hospitals prefer partnering with diagnostic centers for medical imaging facilities to save cost.
- Europe held the second-largest market share in the year 2018. The availability of modern healthcare facilities and rise in surgery procedures will encourage market growth in the region. Growth in the geriatric population is also a factor for the growth of the market.
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For the purpose of this report, Reports and Data have segmented into the global Intravascular Ultrasound (IVUS) market on the basis of modality, products, end-users, and region:
Modality Outlook (Revenue, USD Million; 2016-2027)
- Virtual Histology IVUS
- Integrated Backscatter IVUS
Products Outlook (Revenue, USD Million; 2016-2027)
End Users Outlook (Revenue, USD Million; 2016-2027)
- Diagnostic Centers
- Academic And Research Institutes
Regional Outlook (Revenue, USD Million; 2016-2027)
- North America
- Asia Pacific
- Latin America
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Some Highlights of the Report:
- The report endows the reader with crucial information about the key market drivers, opportunities, trends, and restraints that significantly influence the global Keyword market development.
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- The latest study includes vital data pertaining to the consumption patterns and end-use of the products offered by the leading companies operating in the market.
- It throws light on the behavior pattern of each market contender, listing down the fundamental business expansion strategies employed by these companies, such as partnerships and collaborations, mergers & acquisitions, and new product launches.
- Furthermore, the report expounds on the global market mechanism by thoroughly analyzing the Keyword market through SWOT analysis and Porter’s Five Forces analysis.
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