Intravascular Ultrasound Devices Market (By Product: IVUS Consoles and IVUS Catheters; By Application, By End User: Hospitals, Specialty Clinics, Others) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook and Forecast 2021 - 2030

The global intravascular ultrasound devices market size was valued at US$ 600 million in 2020 and is expected to reach at US$ 1 billion by 2030 witha a CAGR of 6.8% from 2021 to 2030. IVUS devices are used to assess vessel/lumen diameter and lesion length. It helps to determine the amount of plaque buildup in a vessel and its composition. It is further used to ensure that stents have been properly placed and fully deployed. Rise in the need of IVUS procedures during PCI procedures and increase in the adoption of IVUS systems in hospitals and diagnostic centers are key factors that are likely to drive the global intravascular ultrasound (IVUS) devices market during the forecast period.

High Incidence Rate of Cardiovascular Disorders to Drive Market

According to the statistics reported by WHO, cardiovascular diseases are the number one cause of death, accounting for nearly 17.9 million deaths globally every year. Cardiovascular diseases are a group of rheumatic heart disease, cerebrovascular disease, coronary heart disease, and other conditions. CDC states that about 30.3 million adults were diagnosed with heart disease, i.e., 12.1% of the total adult population in the U.S., in 2018. The primary causes of high incidence of cardiovascular diseases include diabetes, smoking, hyperlipidemia, hypertension, obesity, poor nutrition, and lack of physical activity. Thus, large cardiovascular patient base is anticipated to boost the intravascular ultrasound devices market during the forecast period.

IVUS Imaging Gains Popularity for Diagnosis of Complex CTO Lesions

Even today, chronic total occlusion (CTO) revascularization constitutes procedural challenges. It has been found that tapered stump CTO have relatively better success share as compared to blunt, vague or stumpless CTO lesions. Such findings are creating value-grab opportunities for med-tech companies in the intravascular ultrasound (IVUS) devices market, as IVUS imaging helps to differentiate a true lumen against subintimal space by recognizing the presence of side branches, intima, and media.

Companies in the intravascular ultrasound (IVUS) devices market are benefitting from the demand for devices in imaging for CTO lesions since the technique helps to confirm guidewire re-entry to the true lumen from the subintimal space. IVUS-guided wiring technique is being considered as an option in the antegrade approach when standard wiring procedures fail.

IVUS Catheters Help in Tailor Treatment of Patients, Guide Pre-stent Planning

Angioplasty alone may not be sufficient for meeting advanced visualization specifications. This is why Philips - a Dutch multinational conglomerate corporation is offering its comprehensive portfolio of IVUS catheters for coronary and peripheral applications, which help to decide the best therapy option and optimize treatment results. Advanced catheters offered by manufacturers in the intravascular ultrasound (IVUS) devices market are allowing physicians to address the treatment of every patient. Such catheters are being used to offer guidance in pre-stent planning.

Apart from innovations in devices, systematic reimbursement policies by med-tech companies and insurers are increasing the uptake of IVUS catheters. Companies in the intravascular ultrasound (IVUS) devices market are unlocking growth opportunities in venous interventions.

Micromachined Ultrasound Transducers Overcome Issues Addressed in Piezoelectric Transducers

Companies in the intravascular ultrasound (IVUS) devices market are innovating in ultrasound transducers to attain high-resolution images. These devices are gaining increased popularity, as they are used both as transmitter that sends acoustic waves and detector that receives the returning signals.

Manufacturers are boosting their production capabilities in piezoelectric transducers that are gaining prominence in biomedical imaging. However, traditional piezoelectric ultrasound transducers contain drawbacks such as difficulties in the fabrication of high-density arrays. Companies are increasing their research efforts to overcome the drawbacks of conventional piezoelectric ultrasound transducers to provide acceleration of imaging speeds and alleviate motion artifact. Manufacturers are developing micromachined ultrasound transducers to address issues in piezoelectric transducers.

IVUS Consoles Held Major Share of Intravascular Ultrasound (IVUS) Devices Market

Based on product, the global intravascular ultrasound (IVUS) devices market has been bifurcated into IVUS consoles and IVUS catheters. The IVUS consoles segment dominated the market in 2020, owing to rise in the demand for intravascular ultrasound consoles assisted cardiovascular surgeries.

Need of Intravascular Ultrasound (IVUS) Devices in Coronary Intervention

In terms of application, the global intravascular ultrasound (IVUS)   has been classified into coronary diagnosis, coronary intervention, coronary research, and non-coronary/peripheral applications. The coronary intervention segment dominated the global intravascular ultrasound (IVUS) devices market in 2020, and the trend is projected to continue during the forecast period. A surge in the use of intravascular ultrasound during coronary intervention procedures is expected to drive the segment during the forecast period.

Hospitals to be Major End User

In terms of end user, the global intravascular ultrasound (IVUS) devices market has been categorized into hospitals, specialty clinics, ambulatory surgical centers, diagnostic laboratories, and research institutes. The hospitals segment held a major share of the global intravascular ultrasound (IVUS) devices market in 2020. The dominance of this segment can be attributed to the budget availability to purchase expensive systems such as IVUS consoles and large patient base.

North America to Dominate Global Market; Asia Pacific to Offer Significant Opportunities

In terms of region, the global intravascular ultrasound (IVUS) devices market has been segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America is projected to account for a prominent share of the global intravascular ultrasound (IVUS) devices market during the forecast period. Rise in prevalence of cardiovascular diseases and increase in geriatric population are major factors driving the market in North America.

According to American Heart Association estimates, by 2035, over 130 million adults are likely to suffer from cardiovascular disorders in the U.S., which, in turn, is boosting the demand for intravascular ultrasound (IVUS) devices. The market in Europe is expected to expand at a considerable CAGR in the near future, owing to an increase in patient pool suffering from cardiovascular disorders and introduction of technologically advanced products in the region.

The intravascular ultrasound (IVUS) devices market in Asia Pacific is likely to expand at a rapid pace in the near future. This expansion can be majorly attributed to the availability of trained and well-qualified technicians and rise in adoption of technologically advanced diagnostic equipment.

Overview

• This report analyzes the current scenario and future prospects of the global intravascular ultrasound (IVUS) devices market. High prevalence rate of cardiovascular disorders, technological advancements, and increase in geriatric population are expected to boost the global intravascular ultrasound (IVUS) devices market.
• The report includes an elaborate executive summary, which provides a snapshot of various segments of the global intravascular ultrasound (IVUS) devices market. It also provides information and data analysis of the intravascular ultrasound (IVUS) devices market with regard to segments based on product, application, end user, and region.
• The overview section of the report provides a detailed qualitative analysis of drivers, restraints, and opportunities that impact the global intravascular ultrasound (IVUS) devices market
• The report includes company profiles, which provide information about their business, product portfolios, and competitive landscape in the global intravascular ultrasound (IVUS) devices market
• The report on the intravascular ultrasound (IVUS) devices market offers market attractiveness analysis of regions and segments
• The last section of the report comprises quantitative and qualitative analyses on market share/position of key players operating in the global intravascular ultrasound (IVUS) devices market. It analyzes key competitive strategies adopted by major industry players, thereby presenting a thorough understanding of the competitive scenario in the global intravascular ultrasound (IVUS) devices market.

Key Players

• Axle International
• Boston Scientific Corporation
• Infraredx, Inc.
• Koninklijke Philips N.V.
• Terumo Corporation
• Siemens Healthineers AG
• Conavi Medical Inc.
• ACIST Medical Systems

Market: Segmentation

• Intravascular Ultrasound (IVUS) Devices Market, by Product
  • IVUS Consoles
    • Integrated System
    • Cart System
  • IVUS Catheters
    • IVUS Transducers
    • IVUS Accessories
• Intravascular Ultrasound (IVUS) Devices Market, by Application
  • Coronary Diagnosis
  • Coronary Intervention
  • Coronary Research
  • Non-coronary/Peripheral Applications
• Intravascular Ultrasound (IVUS) Devices Market, by End User
  • Hospitals
  • Specialty Clinics
  • Ambulatory Surgical Centers
  • Diagnostic Laboratories
  • Research Institutes
• Intravascular Ultrasound (IVUS) Devices Market, by Region
  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific          
    • China
    • India
    • Japan
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

Scope of the Report

TMR’s report on the global intravascular ultrasound (IVUS) devices market studies past as well as current growth trends and opportunities to gain valuable insights of these indicators of the market during the forecast period from 2021 to 2031. The report provides revenue of the global intravascular ultrasound (IVUS) devices market for the period 2017–2031, considering 2020 as the base year and 2031 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global intravascular ultrasound (IVUS) devices market during the forecast period.

The report has been prepared after primary and secondary researches. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global intravascular ultrasound (IVUS) devices market.

Secondary research also included Internet sources, statistical data from government agencies, websites, company presentations, sales data, and trade associations. Analysts employed a combination of top-down and bottom-up approaches to study various phenomenon in the global intravascular ultrasound (IVUS) devices market.

The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global intravascular ultrasound (IVUS) devices market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global intravascular ultrasound (IVUS) devices market.

The report delves into the competitive landscape of the global intravascular ultrasound (IVUS) devices market. Key players operating in the global intravascular ultrasound (IVUS) devices market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global intravascular ultrasound (IVUS) devices market that have been profiled in this report.

Key Questions

• What are the sales/revenue generated by intravascular ultrasound (IVUS) device manufacturers across all regions during the forecast period?
• What are the key trends in the intravascular ultrasound (IVUS) devices market?
• What are the major drivers, restraints, opportunities, and threats in the market?
• Which region is set to expand at the fastest CAGR during the forecast period?
• Which intravascular ultrasound (IVUS) devices segment will have the highest revenue globally in 2031 and which segment will grow at the highest CAGR during the forecast period?

Research Methodology

A unique methodology has been utilized by VRR to conduct comprehensive research on the growth of the global intravascular ultrasound (IVUS) devices market and arrive at conclusions on its growth prospects. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.

Secondary research sources referred to by analysts during the production of the global intravascular ultrasound (IVUS) devices market report include statistics from company annual reports, SEC filings, company websites, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the intravascular ultrasound (IVUS) devices market as primary methods.

These primary research respondents have provided exclusive information during interviews, which serves as a validation from the intravascular ultrasound (IVUS) devices market leaders. Access to an extensive internal repository and external proprietary databases enabled this report to address specific details and questions about the global intravascular ultrasound (IVUS) devices market with accuracy. The study also uses the top-down approach to assess the revenue of each segment and the bottom-up approach to counter-validate them. This has helped in reaching VRR’s estimates on future prospects of the global intravascular ultrasound (IVUS) devices more reliably and accurately.