According to our latest study on "Intravascular Ultrasound (IVUS) Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type (Equipment and Accessories); Modality (Virtual Histology IVUS, iMap IVUS, and Integrated Backscatter IVUS); End User (Hospitals and Clinics, Diagnostic Centers, and Academic and Research Institutes)," the market is expected to grow from US$ 608.97 million in 2021 to US$ 1,012.37 million by 2028; it is estimated to grow at a CAGR of 7.5% from 2021 to 2028. The report highlights the key factors driving and restraining the market growth, trends prevailing in the intravascular ultrasound devices market, and prominent players with their developments

Virtual Histology IVUS Segment to Lead Intravascular Ultrasound Devices Market During 2021-2028

Market Overview

Intravascular ultrasound (IVUS) is a catheter-driven diagnostic method employed to diagnose and treat both arteries and veins, utilizing ultrasound technology that does not involve ionizing radiation, poses no discernible adverse effects, and can render precise images of soft tissues that may not be distinctly visible through X-rays. By displaying a detailed image of the interior of an artery (known as the lumen) and the concealed atheroma within the artery wall, IVUS can accurately demonstrate the extent of narrowing or stenosis in the artery.  

Segmental Overview

The intravascular ultrasound devices market is categorized into equipment and accessories based on type. The accessories segment had the biggest market share in 2021, and it is projected to record the highest compound annual growth rate (CAGR) of 7.7% during the forecast period. Equipment, which is typically bought once, is a component of the device, while accessories are replaced regularly and are usually switched out after being used for a specific patient. In 2016, American Heart Association (AHA) data indicated that around 15.5 million individuals in the United States were afflicted with coronary heart disease. The increased prevalence of cardiovascular ailments across different age groups is the primary factor driving the demand for the accessories segment. The intravascular ultrasound devices market is experiencing growth due to the surge in research and development initiatives in the cardiovascular industry, advancements in imaging and staining techniques, and recent regulatory approvals. The presence of established and emerging players globally is a significant contributor to intravascular ultrasound devices market growth. Among the leading companies operating in the intravascular ultrasound devices market are Koninklijke Philips N.V., GE Healthcare, Siemens AG, Boston Scientific Corporation, Infraredx, Inc., Terumo Corporation, Axle International, Conavi Medical Inc., Canon Medical Systems, Abbott, and ACIST Medical System. 

The intravascular ultrasound devices market is categorized by modality into virtual histology IVUS, iMap IVUS, and integrated backscatter IVUS. By end user, the intravascular ultrasound devices market is divided into hospitals and clinics, diagnostic centers, and academic and research institutes. The intravascular ultrasound devices market is segmented geographically into North America (including the US, Canada, and Mexico), Europe (including the UK, Germany, France, Italy, Spain, and the rest of Europe), Asia Pacific (including China, Japan, India, Australia, South Korea, and the rest of Asia Pacific), the Middle East & Africa (including the UAE, Saudi Arabia, Africa, and the rest of the Middle East & Africa), and South and Central America (including Brazil, Argentina, and the rest of South and Central America).

Impact of COVID-19

The impact of COVID-19 has been unprecedented and far-reaching, with cardiac patients being among the most severely affected groups. COVID-19 has had a profound effect on the number of patients receiving diagnoses and treatments. The increasing number of COVID-19 patients requiring hospitalization has placed significant pressure on hospitals and departments, including cardiology clinics, which have had to repurpose resources to treat COVID-19 patients. The Asia-Pacific intravascular ultrasound devices market is expected to experience the fastest growth during the forecast period, with China and India being significant contributors to this growth, given the rising incidence of chronic diseases in these regions. According to the American College of Cardiology (ACC), around 40% of COVID-19 recovered patients develop cardiovascular conditions.

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