The growing incidence of cardiovascular diseases, increase in research and development activities, and advancements in technology are propelling the market demand.
The global intravascular ultrasound (IVUS) market is forecast to reach USD 588.6 Million by 2028, according to a new report by Reports and Data. Intravascular ultrasound uses a probe or transducer to generate sound waves and produce images of blood vessels.
When the probe is used to evaluate the coronary arteries, intravascular ultrasound can show the entire artery wall and provide important information about the amount and type of plaque buildup, which helps in determining the risk for heart attack. Ultrasound has no known harmful effects as it does not use ionizing radiation, and can provide clear pictures of soft tissues that are not well seen on x-ray images.
An increase in the number of cosmetic procedures, a rise in the incidence of chronic diseases, and a surge in the number of surgeries among the aging population is driving the demand for the market. However, development in the non-invasive surgical technologies and intense competition among the manufacturers are expected to limit the growth of the market.
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The report puts an emphasis on the information regarding the key players with a special focus on their company profile, business overview, recent advancements, product catalog, and strategic business plans. It provides a comprehensive overview of the strategic alliances in the market under taken by the key players such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches, brand promotions, and corporate deals, among others.
Key companies operating in the market and profiled in the report include:
Siemens Healthcare GmbH, Canon Medical Systems, Koninklijke Philips N.V., Hitachi Medical Corporation, Mindray Medical, Fujifilm Corporation, Chison Medical Imaging Co. Ltd., Samsung Medison, Canon Medical Systems, and Boston Medical Corporation, among others.
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The Intravascular Ultrasound (IVUS) market takes into account major geographical locations such as North America, Europe, Asia Pacific, Latin America, and Middle East Africa to offer key insights into market growth, market size, market share, revenue growth, current and emerging trends, supply and demand ratio, import/export, consumer demand and behavior, and presence of key players in each region. The report offers an in-depth country wise analysis to impart better understanding of the market and its growth prospects.
Segments Covered in the report
Modality Outlook (Revenue, USD Million; 2020-2028)
- Virtual Histology IVUS
- Integrated Backscatter IVUS
Products Outlook (Revenue, USD Million; 2020-2028)
End Users Outlook (Revenue, USD Million; 2020-2028)
- Diagnostic Centers
- Academic And Research Institutes
Key Regions Analyzed in the Report include:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- South Africa
- Rest of MEA
Furthermore, it consists information about individual segment of the Intravascular Ultrasound (IVUS) market based on the types and application. The report also offers insights about the key segments expected to register significant revenue growth over the forecast period and primary trends influencing their growth. It also offers CAGR and market share values for each segment to provide clear understanding of demand and trend in the global market.
Further key findings from the report suggest
- In the arteries, intravascular ultrasound is performed to see peripheral arteries of the coronary arteries and legs, although it can be used in any artery in the body. It is generally used in conjunction with catheter angiography to help in the diagnosis of peripheral artery disease, which is not seen clearly in the angiogram and to plan the size of stents which may need to be placed to keep the artery open.
- Virtual histology intravascular ultrasound is based on the spectral analysis of the raw backscattered intravascular ultrasound radiofrequency (IVUS-RF) data. It utilizes a mathematical autoregressive model and constructs tissue maps that classify plaque into four major tissue types (fibrous, fibro-fatty, necrotic core, and dense calcium). VH-IVUS clinical utility ranges from predicting high-risk plaques for patients undergoing coronary angiography to predicting adverse events post percutaneous coronary intervention (PCI).
- Hospitals dominated the market owing to large footfall in the facility. Hospitals install medical imaging equipment as it can be a major source of profits from outpatients. Most of the more prominent hospitals have their own medical imaging facilities. However, medical imaging facilities require space, investment, skilled professionals, and high maintenance costs. Hospitals prefer partnering with diagnostic centers for medical imaging facilities to save cost.
- Europe held the second-largest market share in the year 2020. The availability of modern healthcare facilities and rise in surgery procedures will encourage market growth in the region. Growth in the geriatric population is also a factor for the growth of the market.
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