Global Intravascular Ultrasound Devices Market 2024–2033

Reports Description

The Global Intravascular Ultrasound Devices Market 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.

IVUS devices are used to measure vessel/lumen diameters and lesion lengths. Intravascular ultrasound devices aid in determining the quantity of plaque accumulation in a vessel and its makeup. It also confirms if stents have been correctly inserted and fully deployed.

The rising demand for IVUS treatments during PCI procedures, as well as the increasing usage of IVUS systems in hospitals and diagnostic centres, are significant drivers expected to drive the worldwide intravascular ultrasound (IVUS) devices market during the projected period.

IVUS devices measure vessel/lumen diameters and lesion lengths. They aid in determining the quantity and makeup of plaque accumulation in a vessel and confirm whether stents have been correctly inserted and fully deployed.

Intravascular Ultrasound Devices Market: Growth Factors

Specific Anatomic, Patient Characteristics Influence Adoption of IVUS-OCT Devices.

The intravascular ultrasound (IVUS) equipment market is estimated to hit $1.22 billion by 2031. Medical technology companies are combining IVUS with optical coherence tomography (OCT) in intracoronary structures to improve clinical outcomes and identify left main coronary artery disease.

However, it is unclear if the imaging modality functions best as a guide and diagnostic tool. As a result, each imaging modality is heavily reliant on unique anatomic and patient features. These insights are impacting market growth. Med-tech firms are boosting their R&D efforts to create hybrid catheters that use IVUS and OCT imaging modalities to improve multi-vessel coronary artery disease detection.

Technological innovations have positively impacted market growth. Intravascular ultrasound (IVUS) uses a transducer and other advanced equipment and technologies to generate sound waves and produce images of blood vessels.

IVUS Imaging Gains Popularity for Diagnosis of Complex CTO Lesions

Even today, chronic total occlusion (CTO) revascularization presents procedural obstacles. It has been discovered that tapering stump CTO has a higher success rate than blunt, ambiguous, or stampless CTO lesions. Such results offer value-added potential for med-tech businesses in the intravascular ultrasound (IVUS) device industry, as IVUS imaging distinguishes between a genuine lumen and subintimal space by detecting the presence of side branches, intima, and media.

Key companies in the intravascular ultrasound (IVUS) device market are benefiting from the need for equipment to image CTO lesions since this approach confirms guidewire re-entry to the correct lumen from the subintimal space. When normal wiring processes fail, IVUS-guided wiring is being explored as an alternative in the antegrade approach.

Growing Number Cardiovascular Disorders Across the Globe

The of patients with cardiovascular diseases is increasing across the globe due to the growing aging population and increasing smoking and alcohol consumption among young people. For instance, as per the data published by WHO, cardiovascular illnesses are the leading cause of mortality, killing over 17.9 million people worldwide each year.

Cardiovascular illnesses encompass rheumatic heart disease, cerebrovascular disease, coronary heart disease, and other ailments. According to the CDC, over 30.3 million individuals were diagnosed with heart disease in 2018, accounting for 12.1% of the total adult population in the United States.

Diabetes, smoking, hyperlipidemia, hypertension, obesity, poor diet, and inactivity are the leading factors of cardiovascular disease. Thus, the huge cardiovascular patient population will drive the intravascular ultrasound devices market throughout the forecast period.

Intravascular Ultrasound Devices Market: Restraints

High Cost of IVUS and Availability of Alternatives

The cost of IVUS devices is major concern in the market growth. IVUS devices comprise various components and equipments, such as solid-state phased arrays incorporating multiple stationary piezoelectric transducers. It also consists of tiny instruments and sophisticated technologies.

The cost of these equipment and technology is increasing rapidly due to the growing inflation shortage of these equipment, which in turn increases the overall production cost of IVUS devices, thereby increasing selling prices. Thus, increasing selling prices of IVUS devices are restraining their adaptation in many developing and developed countries, thereby restraining market growth.

Optical coherence tomography is emerging as an alternative to IVUS. It is cost-effective, technologically advanced, and requires less maintenance. However, the lack of skilled expertise to operate IVUS devices is also hampering its market growth.

Intravascular Ultrasound Devices Market: Opportunities  

Growing Usage of IVUS Catheters in Tailored Treatment of Patients

Angioplasty alone may not be adequate to fulfil advanced visualization requirements. This is why Philips, a Dutch global conglomerate firm, provides a complete array of IVUS catheters for coronary and peripheral applications, assisting in selecting the optimal therapeutic choice and optimizing treatment outcomes.

Advanced catheters produced by manufacturers in the intravascular ultrasonography (IVUS) device market enable physicians to address each patient’s therapy. Such catheters are utilized to provide advice during pre-stent planning.

Aside from device improvements, med-tech businesses and insurers’ systematic reimbursement practices are driving an increase in the use of IVUS catheters. Companies in the intravascular ultrasound (IVUS) device industry are capitalizing on prospects in venous interventions.

Technological Innovation in the IVUS.

Key players operating in the market are heavily investing in technological innovations and research and development activities of Intravascular ultrasound devices to gain a competitive advantage. Companies in the intravascular ultrasound (IVUS) devices industry are developing ultrasound transducers to provide high-resolution pictures.

These gadgets are gaining popularity since they can function as transmitters (sending acoustic waves) and detectors (receiving returned signals). Manufacturers are expanding their production capacity for piezoelectric transducers, which are increasing use in biomedical imaging.

However, typical piezoelectric ultrasonic transducers have limitations, such as difficulty fabricating high-density arrays. Companies are boosting their research efforts to overcome these limitations to deliver faster imaging speeds and reduce motion artifacts.

Manufacturers are creating micromachined ultrasonic transducers to overcome difficulties with piezoelectric transducers. For instance, Philips recently developed an advanced IVUS. This IVUS enables co-registration with angiography and fractional flow reserve or instant wave-free ratio (FFR/iFR) physiological assessments.

This co-registered view can be displayed on the overhead screen in the lab, helping add more information about lesions and their severity in one location. It also helps quickly identify the culprit lesion in heavily diseased arteries.

Key players in the market have innovated multimodal IVUS catheters. These IVUS combine additional intravascular technology and near-infrared spectroscopy (NIRS) and are intended for future use with IVUS and optical coherence tomography (OCT).

Intravascular Ultrasound Devices Market: Segmentation Analysis

The Global Intravascular Ultrasound Devices Market is segmented by product type, end-user, application, and region. Based on Product type, the market is segmented into IVUS Consoles and IVUS Catheters.

The IVUS consoles segment led the market, 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.

As the global frequency of cardiovascular illnesses rises, hospitals and healthcare institutions increasingly invest in modern diagnostic technology such as IVUS consoles. Their capacity to deliver more accurate imaging than previous approaches has resulted in greater dependence on this technology during important surgical procedures.

Furthermore, the growing use of IVUS consoles in coronary diagnostics and treatments has boosted their demand. This category will likely retain its leadership, driven by technical developments and the growing focus on minimally invasive surgeries.

The Global Intravascular Ultrasound Devices Market is segmented by application into Coronary Diagnosis, Coronary Intervention, Coronary Research, and Non-coronary/Peripheral Applications. The coronary intervention category dominated the market in 2023 and is expected to continue throughout the forecast period.

Coronary interventions, such as angioplasty and stent insertion, are critical for patients with blocked or restricted arteries. IVUS systems have become indispensable in these surgeries because they provide detailed images of the artery walls, allowing for precise stent implantation and decreasing procedural complications.

The rise in coronary artery disease cases caused by unhealthy lifestyles, an aging population, and an increased prevalence of risk factors such as diabetes and hypertension has underlined the necessity of IVUS in coronary therapy. As medical professionals prioritize patient outcomes and less intrusive therapies, the adoption of IVUS devices is expected to rise, with the coronary intervention sector serving as a significant driver of market growth.

The global Intravascular Ultrasound Devices Market is segmented by end users: Hospitals, Specialty Clinics, Ambulatory Surgical Centres, Diagnostic Laboratories, and Research Institutes. Hospitals were the dominating end-user sector in 2023, owing to their capacity to invest in costly medical equipment like IVUS consoles.

Compared to smaller clinics or ambulatory centres, hospitals may be more willing to adopt IVUS technology because they have the financial and infrastructure capacity to handle pricey diagnostic equipment.

Furthermore, hospitals usually treat more patients, particularly those who require essential procedures like cardiovascular surgery, which commonly utilize IVUS. This segment’s dominance has been reinforced by the growing number of treatments performed in hospitals and the rising frequency of cardiovascular illnesses. Hospitals are expected to be the primary end users of IVUS devices during the forecast period due to the continuous improvements in medical technology and the growing emphasis on enhancing patient outcomes.

Report Scope

Intravascular Ultrasound Devices Market: Regional Analysis

North America’s substantial market share in 2023 resulted from the region’s aging population and high prevalence of cardiovascular diseases. By 2035, over 130 million Americans will suffer from cardiovascular disorders, according to the American Heart Association, significantly increasing the need for IVUS devices in the region.

North America’s advanced healthcare system, favourable reimbursement policies, and the existence of significant industry players all contribute to its significance. However, the Asia Pacific region is anticipated to expand rapidly because of a lack of skilled technicians, a rise in cardiovascular illnesses, and rising healthcare costs.

Furthermore, the market is expanding due to the rising use of sophisticated diagnostic technologies in nations like China and India. As cardiovascular problems become a global concern, North America and Asia Pacific are anticipated to impact the IVUS device market considerably.

The market in the Europe region is expected to develop significantly due to the launch of technologically sophisticated products and the rising number of patients with cardiovascular disorders. The adoption rate has increased as more healthcare professionals are aware of how IVUS devices might improve heart surgery results.

Additionally, the region’s aging population, particularly in countries like Germany, France, and the United Kingdom, is increasing demand for IVUS devices since cardiac diseases are more common in elderly individuals. The European market also benefits from the continuous R&D efforts of significant market players who focus on enhancing the accuracy and effectiveness of IVUS technology.

The market for IVUS devices is expected to increase significantly in Europe shortly due to the region’s ongoing healthcare system modernization and growing emphasis on minimally invasive procedures.

The Asia Pacific region is expected to grow at the fastest CAGR during the forecast period. Key countries such as China, India, Japan, ASEAN, and South Korea are mainly driving the market growth of this region. Various factors such as the increasing geriatric population, growing awareness about health, rapidly expanding healthcare industry, and increasing investment in innovative technologies are mainly driving the market growth of this region.

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