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Intravascular Ultrasound Global Market Report 2024 Market Research Report 2024-2033 | Size, Share Analysis And Strategies
Intravascular Ultrasound Global Market Report
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According to The Business Research Company's, The intravascular ultrasound market size has grown strongly in recent years. It will grow from $2.28 billion in 2023 to $2.49 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to increased prevalence of cardiovascular diseases, rising minimally invasive procedures, growing geriatric population, expansion of healthcare infrastructure, increasing healthcare expenditure.
The intravascular ultrasound market size is expected to see strong growth in the next few years. It will grow to $3.52 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to growing adoption of IVUS in coronary interventions, growing awareness about early diagnosis and treatment of heart diseases, development of high definition IVUS catheters, surge in research and development activities in medical imaging, rising prevalence of diabetes. Major trends in the forecast period include adoption of IVUS technology, implementation of AI and machine learning algorithms, development of portable and miniaturized IVUS devices, implementation of 3D IVUS imaging for better visualization, advancements in image resolution, implementation of real time feedback systems.
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Market Drivers and Trends:
The rising prevalence of cardiovascular diseases (CVDs) is expected to propel the growth of the intravascular ultrasound market going forward. Cardiovascular diseases (CVDs) are a group of disorders that affect the heart and blood vessels. The prevalence of cardiovascular diseases (CVDs) is increasing due to lack of physical activity, unhealthy diet, smoking, chronic stress, and excessive alcohol consumption. Intravascular Ultrasound (IVUS) is a valuable diagnostic tool for managing cardiovascular diseases (CVDs). It provides detailed images and information about the inside of blood vessels, particularly coronary arteries, which can significantly enhance the diagnosis, treatment, and management of various cardiovascular conditions. For instance, in April 2023, according to the British Heart Foundation, a UK-based cardiovascular research charity, the overall number of deaths in Scotland from all heart and circulatory illnesses was 17,639 in 2021, up from 17,448 in 2020. In addition, the number of deaths from coronary heart disease in the UK in 2021 will be 65,579, up from 64,170 in 2020. Therefore, the rising prevalence of cardiovascular diseases (CVDs) is driving the growth of the intravascular ultrasound market.
Major companies operating in the intravascular ultrasound market focus on technological improvement with sonic lumen tomography (SLT) technology to improve diagnostic capabilities, facilitate better decision-making in cardiovascular procedures, and ultimately enhance patient outcomes. Sonic lumen tomography (SLT) technology enhances the visualization of blood vessels by providing high-resolution, cross-sectional images of the lumen (the interior space of a blood vessel) and the vessel walls. For instance, in May 2024, Provisio Medical Inc., a US-based medical equipment manufacturer, launched the Provisio SLT Intravascular ultrasound (IVUS) system. The Provisio SLT IVUS System consists of the SLT IVUS P1 system and the SLT IVUS support crossing catheter. Provisio improves vessel sizing data acquisition and presentation by using Sonic Lumen Tomography technology in front-line support crossing catheters. This solution shortens data acquisition time, decreases the use of contrast media, and reduces radiation exposure without disrupting the physician's workflow.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Abbott Laboratories, Medtronic plc, Siemens Healthcare GmbH, Fujifilm Corporation, GE HealthCare Technologies Inc., Koninklijke Philips N.V., Boston Scientific Corporation, B. Braun Holding GmbH & Co. KG, Terumo Corporation, Fujikura Ltd., Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Nipro Corporation, Shimadzu Corporation, Cook Group Incorporated, Analogic Corporation, Canon Medical Systems Corporation, ACIST Medical Systems Inc., Insightec Ltd., HeartFlow Inc., Chison Medical Technologies Co. Ltd., CIVCO Medical Instruments Co. Inc., Pie Medical Imaging BV, Conavi Medical Inc., Samsung Medison Co. Ltd., Esaote S.p.A., Sonic Concepts Inc.
Intravascular Ultrasound Market 2024 Key Insights:
• The intravascular ultrasound market size is expected to see strong growth in the next few years. It will grow to $3.52 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%.
• Rising Cardiovascular Disease Prevalence Fuels Intravascular Ultrasound Market Growth
• Advancements in Intravascular Ultrasound
• North America was the largest region in the intravascular ultrasound market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
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LinkedIn: https://in.linkedin.com/company/the-business-research-company
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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