Global Intravascular Ultrasound Devices Market Size Likely to Reach at a CAGR of 6.87% By 2033

Global Intravascular Ultrasound Devices Market size was valued at USD 663.44 Million in 2024 and is expected to reach USD 1214.61 Million by 2033, at a CAGR of 6.87% during the forecast period 2024 – 2033.

Intravascular Ultrasound Devices Market: Overview

Intravascular Ultrasound Devices (IVUS) are used for medical checkups of blood vessels from the inside. They create and develop images of the inside of blood vessels and the heart using sound waves.

Various factors, such as the increasing prevalence of chronic diseases, the increasing geriatric population across the globe, the growing number of hospitals, increasing awareness about healthcare due to growing disposable income, and the increasing adoption of minimally invasive procedures, are mainly driving the IVUS market’s growth during the forecast period.

Furthermore, growing supportive policies by various global governments are expected to drive market growth during the forecast period. For instance, the government of India has launched the Ayushman Bharat Yojana; through this scheme, the government is establishing many new high-end hospitals equipped with modern devices and machinery. Thus, supportive schemes and policies are expected to create lucrative opportunities for the market during the forecast period.

Key players operating in the market are integrating various advanced technologies to minimize the side effects of these devices and enhance the output and accuracy level. Sustainable designs and energy-efficient features are becoming increasingly popular among end users.

Many IVUS device manufacturers are integrating advanced technologies such as 3D printing, ultrasound transducers, and other emerging technologies to obtain high-resolution images from inside the vessels. Thus, such technological innovations are expected to create lucrative market opportunities during the forecast period.

However, factors such as the high cost of intravascular ultrasound devices, their limited adaptation in many underdeveloped countries, the availability of alternatives such as optical coherence tomography, and the lack of universal directives pertaining to the usage of IVUS devices are mainly restraining the market growth of Intravascular Ultrasound Devices during the forecast period.

The Global Intravascular Ultrasound Devices Market is segmented by product type, end-user, application, and region. By Product Type, the IVUS consoles segment dominated the market in 2023 and is expected to keep its dominance during the forecast period owing to increased demand for these consoles in cardiovascular procedures. IVUS consoles are critical in providing clinicians with real-time, high-resolution views of the interior of blood arteries, allowing them to diagnose and treat cardiovascular diseases correctly.

By end-user industry, the hospital segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period owing to the growing adaption of IVUS devices in hospitals. Various factors, such as the increasing number of hospitals across the globe, the growing number of cardiovascular surgeries in hospitals, and increasing supportive policies, are mainly driving the market growth of this segment.

By Region, North America held a major market share in 2023 and is expected to maintain its dominance during the forecast period owing to the increasing number of cardiovascular disorders in the region.

Various factors, such as the presence of a well-developed healthcare industry, an increasing number of patients with cardiovascular diseases, increasing investment in the research and development of advanced medical devices, and supportive government policies, are mainly driving the market growth of this region. Major countries such as the U.S., Mexico, and Canada are mainly driving the market growth of this region.

Report Scope

CMI has comprehensively analyzed the Global Intravascular Ultrasound Devices market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict an in-depth market scenario. Segment-wise market size and market share during the forecast period have been duly addressed to portray the probable picture of this Global Intravascular Ultrasound Devices industry.

The competitive landscape includes key innovators, after-market service providers, market giants, and niche players, who are studied and analyzed extensively with respect to their strengths, weaknesses, and value-adding prospects. In addition, this report covers key players’ profiles, market shares, mergers and acquisitions, consequent market fragmentation, and new trends and dynamics in partnerships.

List of the prominent players in the Intravascular Ultrasound Devices Market:

• Philips Healthcare
• Siemens Healthineers
• Terumo Corporation
• GE Healthcare
• Abbott Laboratories
• Avinger Inc.
• Medtronic
• Infraredx Inc.
• OptiMed Medical Devices
• Conavi Medical
• Teleflex Incorporated
• Nipro Medical Corporation
• Terason
• Others

The Intravascular Ultrasound Devices Market is segmented as follows:

By Product Type

• IVUS Consoles
• IVUS Catheters

By End User

• Hospitals
• Specialty Clinics
• Ambulatory Surgical Centers
• Diagnostic Laboratories
• Research Institutes

By Application

• Coronary Diagnosis
• Coronary Intervention
• Coronary Research
• Non-coronary/Peripheral Applications

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America