The global intravascular ultrasound (IVUS) market size is expected to reach USD 3.53 billion by 2025 at a 7.6% CAGR during the forecast period, according to a new report by Grand View Research, Inc. Rising investments in the medtech industry, increasing R&D activities, and surge in product launches are key factors driving the market.
Emerging economies have been offering new investment avenues to global market players. Developing healthcare infrastructure and increasing patient pool are driving demand for advanced medical devices in these countries.
Point of contact (POC) ultrasound is used for diagnostic procedures generally involving portable ultrasound devices. It is relatively cheaper and can be widely used in patient care. IVUS ultrasound is one such device, which is smaller and can be used to detect abnormalities in the vascular system.
Some of the key players in this market are Koninklijke Philips N.V.; GE Healthcare; Hitachi, Ltd., Fujifilm Medical Systems; Boston Scientific Corporation; Siemens Healthineers; and Canon Medical Systems Corporation.In June 2017, GE Healthcare and Heartflow announced a partnership for the diagnosis and treatment of coronary artery disease.
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Further key findings from the report suggest:
- The intravascular ultrasound market was valued at USD 1.98 billion in 2017 and is expected to grow lucratively over the forecast period
- By product, the accessories segment is anticipated to grow at the fastest rate over the forecast period. It is also the largest product segment
- On the basis of end use, the diagnostic centers segment is anticipated to register the fastest growth over the forecast period, owing to increasing establishments of standalone diagnostic centers
- Asia Pacific is expected to exhibit the highest CAGR of 9.1% over the forecast period owing to improved healthcare infrastructure, rising disposable income, and investments from global market players.
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