IVUS Catheters Market Size is valued at USD 623.4 Mn in 2023 and is predicted to reach USD 990.3 Mn by the year 2031 at a 6.15% CAGR during the forecast period for 2024-2031.
Catheters designed specifically for intravascular ultrasound (IVUS) are used to produce high-resolution, real-time images of the inside of blood vessels. Through the use of a catheter fitted with an ultrasound transducer, this minimally invasive procedure enables doctors to examine the state of vessel walls and atherosclerotic plaques from within, as well as gauge the degree of arterial blockages and direct the implantation of stents. IVUS catheters have become an essential tool in cardiovascular diagnostics and interventions, enhancing the ability of physicians to diagnose and treat vascular diseases more effectively. The market for IVUS catheters is witnessing a breakthrough in cardiovascular therapies' accuracy and effectiveness. With the use of these catheters, medical personnel can see blood vessels in great detail and in real-time, which helps them make wise judgements while doing diagnostic and interventional operations.
The COVID-19 pandemic significantly impacted the Intravascular Ultrasound (IVUS) catheters market, disrupting manufacturing, distribution, and elective medical procedures. Hospitals prioritized resources for critical care, causing a decline in non-urgent procedures like IVUS examinations. Additionally, reduced patient visits and financial strains on healthcare systems further dampened market growth. However, as healthcare systems stabilize and vaccination rates increase, a gradual recovery in the IVUS catheters market is anticipated.
Competitive Landscape
Some Major Key Players In The IVUS Catheters Market:
- Abbott
- ACIST Medical Systems
- Boston Scientific Corporation
- Cook
- Cordis
- GE HealthCare
- ICU Medical, Inc.
- Infraredx, Inc. (Nipro Medical Corporation)
- Koninklijke Philips N.V.
- Medtronic
- Terumo Medical Corporation
- Other Prominent Players
Market Segmentation:
The IVUS Catheters market is segmented into product type, age, indication, application, and end-user. By Product Type, the market is segmented into Mechanical IVUS Catheters, Solid-State IVUS Catheters, Digital IVUS Catheters. By Age, the market is divided into Pediatric, Adult). According to Indication, market consists of Aortic Aneurysm, Blood Clots, Coronary Artery Disease, Deep Vein Thrombosis, Others. By application the market is categorised into Coronary Diagnosis, Coronary Intervention, Coronary Research. On the basis of end-users, the market is segmented into Hospitals, Ambulatory Surgical Centers (ASCs), Diagnostic Centers, and Others.
Based On Product Type, The Mechanical IVUS Catheter Segment Is A Major Contributor To The IVUS Catheter Market.
This product segment growth is due to the soaring application of various catheters, which constitute a critical component of an IVUS test. The increasing usage of guidewires in real-time organ observation in medical techniques like angiograms, cardiac surgeries, and stent placements is further propelling the growth of this segment. The mechanical IVUS catheter product type segment dominated the industry. Mechanical IVUS catheters use a rotating ultrasound transducer to produce cross-sectional images of the blood vessel. These catheters offer high resolution, which allows clinicians to visualize small structures within blood vessels with great detail. They are also useful in identifying plaque build-up, which helps indicate cardiovascular disease.
Coronary Intervention Based On Application Also Witnessed Growth At A Rapid Rate.
Based on application, coronary Intervention is the dominant segment in the IVUS catheters market. This segment accounts for the largest share due to the high frequency of cardiovascular diseases and the widespread adoption of IVUS technology for coronary artery assessment and guidance during percutaneous coronary interventions. The demand for minimal incision procedures and the increasing prevalence of coronary artery diseases globally further contribute to the prominence of coronary Intervention as the leading application segment in the IVUS catheters market.
In IVUS Catheters Market North America Region Has Significant Revenue Share.
North America also holds significant growth in this market. This can be due to various factors, such as increased adoption of ultrasound technology in primary care settings, improved accessibility, and high healthcare spending in countries with efficient reimbursement policies. Additionally, the Asia-Pacific region emerges as the most dominant in the Intravascular Ultrasound (IVUS) catheters market, fueled by increasing healthcare expenditure, growing cardiovascular disease prevalence, and advancements in medical technology. China and India, with their large patient pools and expanding healthcare infrastructure, drive significant market growth. Additionally, supportive government initiatives and rising awareness regarding early disease diagnosis further propel market expansion in the region.
Recent Developments
- In February 2023, The FDA granted Northeast Scientific Inc. authorization to reprocess the Philips IVUS Eagle Eye Platinum RX Digital catheter, which is a provider of reprocessed single-use peripheral vascular catheters. The organization informed us that the release date for the NES Reprocessed Eagle Eye Platinum RX digital IVUS catheter device will be disclosed shortly.
- In Aug 2021, Abbott made a public declaration regarding the approval of its most recent optical coherence tomography (OCT) imaging platform, which is driven by the organization's novel Ultreon Software, from the U.S. Food and Drug Administration (FDA). By integrating augmented reality (OCT) and artificial intelligence (AI), this novel imaging software furnished medical professionals with an improved, all-encompassing perspective of coronary blood flow obstructions and flow, thereby facilitating informed judgment and identifying the most effective course of action.
IVUS Catheters Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 623.4 Mn |
|
Revenue Forecast In 2031 |
USD 990.3 Mn |
|
Growth Rate CAGR |
CAGR of 6.15% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Product Type, Age, Indication, Application, And End-User |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; Southeast Asia; South Korea |
|
Competitive Landscape |
Abbott, ACIST Medical Systems, Boston Scientific Corporation, Cook, Cordis, GE HealthCare, ICU Medical, Inc., Infraredx, Inc. (Nipro Medical Corporation), Koninklijke Philips N.V., Medtronic, Terumo Medical Corporation, Other Market Players |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Corporate
Office :
Office No.5170, 5th Floor Marvel Fuego, Magarpatta Rd, Pune, 411028
info@insightaceanalytic.com
