Intravascular Ultrasound (IVUS) Devices Market: Introduction

According to the report, the global intravascular ultrasound (IVUS) devices market was valued
at ~US$ 600 Mn in 2020. It is projected to expand at a CAGR of ~7% from 2021 to 2031. IVUS
devices are used to assess vessel/lumen diameter and lesion length. It helps to determine the
amount of plaque buildup in a vessel and its composition. It is further used to ensure that
stents have been properly placed and fully deployed. Rise in the need of IVUS procedures
during PCI procedures and increase in the adoption of IVUS systems in hospitals and diagnostic
centers are key factors that are likely to drive the global intravascular ultrasound (IVUS) devices
market during the forecast period.
North America held a major share of the global intravascular ultrasound (IVUS) devices market
in 2020, owing to the availability of skilled doctors, well-established healthcare facilities, and
high healthcare expenditure. The intravascular ultrasound (IVUS) devices market in Asia Pacific
is projected to expand at a notable CAGR of 8.5% from 2021 to 2031, owing to a surge in
patient pool and rise in adoption of technologically advanced diagnostic equipment.
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High Incidence Rate of Cardiovascular Disorders to Drive Market

According to the statistics reported by WHO, cardiovascular diseases are the number one cause
of death, accounting for nearly 17.9 million deaths globally every year. Cardiovascular diseases
are a group of rheumatic heart disease, cerebrovascular disease, coronary heart disease, and
other conditions. CDC states that about 30.3 million adults were diagnosed with heart disease,
i.e., 12.1% of the total adult population in the U.S., in 2018. The primary causes of high
incidence of cardiovascular diseases include diabetes, smoking, hyperlipidemia, hypertension,
obesity, poor nutrition, and lack of physical activity. Thus, large cardiovascular patient base is
anticipated to boost the intravascular ultrasound devices market during the forecast period.
IVUS Consoles Held Major Share of Intravascular Ultrasound (IVUS) Devices Market
Based on product, the global intravascular ultrasound (IVUS) devices market has been
bifurcated into IVUS consoles and IVUS catheters. The IVUS consoles segment dominated the
market in 2020, owing to rise in the demand for intravascular ultrasound consoles assisted
cardiovascular surgeries.
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Need of Intravascular Ultrasound (IVUS) Devices in Coronary Intervention
In terms of application, the global intravascular ultrasound (IVUS)  has been classified into
coronary diagnosis, coronary intervention, coronary research, and non-coronary/peripheral
applications. The coronary intervention segment dominated the global intravascular ultrasound
(IVUS) devices market in 2020, and the trend is projected to continue during the forecast
period. A surge in the use of intravascular ultrasound during coronary intervention procedures
is expected to drive the segment during the forecast period.
Hospitals to be Major End User
In terms of end user, the global intravascular ultrasound (IVUS) devices market has been
categorized into hospitals, specialty clinics, ambulatory surgical centers, diagnostic laboratories,
and research institutes. The hospitals segment held a major share of the global intravascular
ultrasound (IVUS) devices market in 2020. The dominance of this segment can be attributed to
the budget availability to purchase expensive systems such as IVUS consoles and large patient
base.
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North America to Dominate Global Market; Asia Pacific to Offer Significant Opportunities

In terms of region, the global intravascular ultrasound (IVUS) devices market has been
segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa.
North America is projected to account for a prominent share of the global intravascular
ultrasound (IVUS) devices market during the forecast period. Rise in prevalence of
cardiovascular diseases and increase in geriatric population are major factors driving the
market in North America.

According to American Heart Association estimates, by 2035, over 130 million adults are likely
to suffer from cardiovascular disorders in the U.S., which, in turn, is boosting the demand for
intravascular ultrasound (IVUS) devices. The market in Europe is expected to expand at a
considerable CAGR in the near future, owing to an increase in patient pool suffering from
cardiovascular disorders and introduction of technologically advanced products in the region.

The intravascular ultrasound (IVUS) devices market in Asia Pacific is likely to expand at a rapid
pace in the near future. This expansion can be majorly attributed to the availability of trained
and well-qualified technicians and rise in adoption of technologically advanced diagnostic
equipment.

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Growth Strategies of Key Players

Key players operating in the global intravascular ultrasound (IVUS) devices market are Axle
International, Boston Scientific Corporation, Infraredx, Inc., Koninklijke Philips N.V., Terumo
Corporation, Siemens Healthineers AG, Conavi Medical Inc. and ACIST Medical Systems. These
companies engage in research & development to develop novel products in order to expand
product offerings and customer base. In May 2019, Koninklijke Philips N.V. launched the new
IntraSight interventional applications platform. It enables systems to integrate physiology and
intravascular imaging applications for image-guided procedures. This product launch enabled
the company to expand its product portfolio and strengthen its position in the global
intravascular ultrasound (IVUS) devices market.

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