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Global Intravascular Ultrasound Systems Market: Overview
Intravascular ultrasound (IVUS) is a medical imaging methodology using a specially designed catheter with miniaturized ultrasound probe attached to the distal end. The proximal end of the catheter is attached to computerized ultrasound equipment. It allows application of ultrasonic technology to visualize the blood vessels internally through surrounding blood column. The arteries of the heart (the coronary arteries) are the most frequent imaging target for IVUS. Intravascular ultrasound system can be used to assess vessel/lumen diameter, lesion length, help determine the amount of plaque buildup in a vessel and its composition, and check to ensure stents have been properly placed and fully deployed. Intravascular ultrasound system is a valuable adjunct to angiography, providing new insights in the diagnosis and therapy for coronary diseases. An angiography depicts only 2D silhouette of the lumen, whereas IVUS allows tomographic assessment of lumen area, plaque size, distribution, and composition.
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Global Intravascular Ultrasound Systems Market: Key Trends
The global intravascular ultrasound systems market is driven by rise in demand for minimally invasive surgical procedures, development & advancement of surgical & diagnostic devices, and increase in the global geriatric population. Other drivers include rise in the number of cosmetic procedures, increase in incidence of chronic diseases, and surge in the number of surgeries among the geriatric population. However, development of other non-invasive surgery technologies and intense competition among existing device manufacturers are likely to restrain the global market.
Global Intravascular Ultrasound Systems Market: Segmentation
The global intravascular ultrasound systems market can be segmented based on product, end-user, and region. In terms of product, the global market can be bifurcated into consoles and accessories. The accessories segment can be classified into catheters, guidewires, and others. The accessories segment is projected to witness strong growth during the forecast period due to increase in the number for cardiac surgeries and rise in cardiology diseases. Based on end-user, the global intravascular ultrasound systems market can be divided into hospitals, clinics, ambulatory surgical centers, and others. The hospitals segment is anticipated to account for major share of the market, as surgeries are primarily performed in hospitals and demand for surgical instruments is increasing in these settings.
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Global Intravascular Ultrasound Systems Market: Regional Analysis
Geographically, the global intravascular ultrasound systems market can be segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for significant share of the global market in 2017 owing to extensive research and technological advancements in the region. Increase in surgical procedures and improving reimbursement scenario are also likely to propel the market in the region. Favorable reimbursement policies, regulatory framework focused on patient safety, and high treatment efficacy standards are expected to augment the market in North America. Europe was the second largest market for intravascular ultrasound systems due to enhanced health care processes and increase in surgery procedures. Moreover, increase in the geriatric population is expected to propel the market in the region. Improving health care infrastructure and increase in patient awareness about substitute treatment options are projected to drive the market in Asia Pacific. Surge in medical tourism in the region is also likely to contribute to market growth. Countries in Latin America such as Mexico and Brazil present significant opportunities in the market due to evolving medical structure and high disposable income.
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Global Intravascular Ultrasound Systems Market: Competitive Landscape
Key companies operating in the global intravascular ultrasound systems market are Koninklijke Philips N.V., GE Healthcare, Inc., Hitachi, Ltd., Boston Scientific Corporation, Fujifilm Holdings Corporation, Siemens Healthineers, and Canon Medical Systems Corporation.
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