Continued Reliance on IVUS as a Valuable Adjunct to Angiography, Against the Backdrop of Technology Innovation, Rising Incidence of Coronary Artery Diseases & Increased Endovascular Interventions to Benefit Market Growth
Rising incidence of coronary artery disease; technology
development and launch of integrated systems, such as IVUS-OCT systems; and preference
for less invasive endovascular interventions for management of coronary artery
atherosclerosis are poised to drive the global
market for Intravascular Ultrasound (IVUS) market to reach US$814 million by
2024.
The
global intravascular ultrasound market is expected to post a steady growth in
the coming years on account of increasing cases of coronary artery disease.
IVUS holds enormous potential in terms of its ability to address unmet needs in
the early detection and intervention of coronary artery diseases. IVUS
technology is used for visualizing and assessing the plaque build-up and
coronary lesions. In addition to assessment of coronary lesions, IVUS is being
increasingly used in placement of stent in percutaneous coronary intervention.
Overall adoption of intravascular ultrasound systems is facilitated by
increasing number of stent procedures, coupled with rising demand for
minimally-invasive procedures. The market growth is likely to be propelled by
growing prevalence of cardiovascular diseases, rising obese and geriatric
population, and sedentary lifestyles. The limitations of traditional
angiography have and will continue to drive the importance of IVUS as a
valuable adjunct to angiography in terms of providing new insights and cross
sectional data regarding plaque morphology that aid in improving coronary
disease diagnosis and treatment outcomes.
The
IVUS market is also being driven by the growing popularity of integrated
systems, such as IVUS-OCT, IVUS-NIRS, IVUS-IVPA systems, etc. After overcoming
initial hurdles, the speed of a synchronized integrated IVUS-OCT system
currently is fast enough for safe imaging of coronary arteries. Integrated
IVUS-NIRS enables lipid content from the NIRS chemogram image to be mapped onto
the coronary artery structural information gathered by the IVUS transducer,
thereby enabling more exact detection of vulnerable plaque. Integrated
IVUS-IVPA not only quantifies plaque lipid
components, but also incorporates IVUS image to clarify any ambiguity such as
calcification-based photo acoustic signals. Among all the multi-modality
techniques, multi-frequency IVUS is notable for its cost-effectiveness and lack
of need for an optical laser source. However, costs and commercialization of
all integrated IVUS multimodalities would depend on their FDA approval,
reimbursement policies, and also business development strategies of their
developers.
As
stated by the new market research report on Intravascular
Ultrasound, the United States represents
the largest region for IVUS due to a massive base of cardiovascular patients in
the region, along with supportive reimbursement framework and the presence of
major players in the region. Japan also represents an important market for
intravascular ultrasound devices due to favorable reimbursement policies. Asia-Pacific
is expected to spearhead growth in the global IVUS market through the analysis
period, driven rising cardiovascular diseases, increasing PCI procedural volume,
and favorable reimbursement structure.
Major
players in the market include Boston Scientific Corp., Infraredx Inc.,
Koninklijke Philips N.V. (Royal Philips), Terumo Corp., and Siemens
Healthineers.
The
research report titled "Intravascular
Ultrasound - Market Analysis, Trends, and Forecasts" announced by Global Industry Analysts Inc., provides a
comprehensive review of market trends, growth drivers, FDA approvals, clinical
studies, mergers and acquisitions, and other strategic industry activities of
major companies worldwide. The report provides market estimates and projections
for geographic markets, such as the US, Canada, Japan, Europe (France, Germany,
Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and
Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America), and
Rest of World. Key segments analyzed include IVUS Catheters, IVUS Consoles, and
Others (such as Pullback Devices, among Other Accessories).
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