Intravascular Ultrasound Imaging System Market: Key Players like Philips Volcano, Boston Scientific Corporation, GE Healthcare, Siemens Healthineers, Infraredx, Medtronic plc

Increasing incidence of cardiovascular diseases is one of the significant factors driving growth of the intravascular ultrasound system market. Atherosclerosis is a condition in which narrowing of the arteries leads to ischemia of the heart, which is a main consequence of cardiovascular disease. Atherosclerosis leads to myocardial infarction (heart attack) if it is left untreated. Plaque is considered to be the main determinant of luminal narrowing in atherosclerosis.

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Examination of plaque can be done using intravascular ultrasound system market. According to the World Health Organization (WHO) factsheet in 2017, globally 17.7 million people die due to cardiovascular diseases (CVDs) annually, which accounts for around 31% of all deaths worldwide. 80% of all CVD deaths are due to heart attacks and strokes. This can be prevented if these disease are diagnosed on time with the help of different approaches including intravascular ultrasound system.

Key players are launching new products in the global intravascular ultrasound system market to provide better visualization of arteries. This is expected to expand the overall market of intravascular ultrasound system. For instance, in August 2018, Infraredx Inc. launched the Makoto intravascular imaging system, and Dualpro intravascular ultrasound and near-infrared spectroscopy catheter in Japan. According to Infraredx, Makoto intravascular imaging system and Dualpro catheter is the only technology in the market, which identifies vessel structure and plaque composition using IVUS+NIRS.

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However, the image quality of standard-definition intravascular ultrasound can make identification of structures challenging. The thin fibrous cap thickness cannot be visualized using this imaging technique and it becomes difficult to characterize plaque composition. Physician who utilize this system needs expertise to examine the image and diagnose presence of abnormality if any. These factors are expected to limit the adoption of the intravascular ultrasound system, thereby hindering growth of the market.

On the basis of geography, the global intravascular ultrasound system market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to hold dominant position in the global intravascular ultrasound system market over the forecast period, owing to rising incidence of cardiovascular diseases in the U.S. Over 8 million people in the U.S. are affected by peripheral arterial disease, according to the National Institutes of Health, Facts about Peripheral Arterial Disease published in September 2017.

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Furthermore, cardiovascular disease accounts for around 800,000 deaths in the U.S. annually. According to statistics given by the American College of Cardiology in February 2017, over 90 million people in the U.S. get diagnosed with cardiovascular disease. This high diagnosis rate is expected to drive growth of the intravascular ultrasound system market. Emerging economies in Asia Pacific is expected to witness high CAGR over the forecast period due to high death rate due to cardiovascular diseases in the region. According to the World Health Organization (WHO), in 2017, 75% of CVD deaths occurred in low-income and middle-income economies.

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