Wilmington, Delaware, United States, March 06, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The global IVUS Catheters Market size was valued at US$ 594.8 Mn in 2022 and is expected to reach US$ 1.1 Bn by 2031. The global industry is estimated to expand at a CAGR of 6.8% between 2023 and 2031. An increase in the adoption of minimally invasive procedures, the high prevalence of cardiovascular disorders, and developments in imaging technologies are projected to contribute to the expansion of the global IVUS catheters market in the near future. Rising demand for IVUS catheters with enhanced precision, superior imaging technology, and improvements in patient safety are anticipated to present lucrative growth opportunities.
Companies are investing in research and development of novel products that fulfill these specifications and improve patient outcomes. Market participants are also forming alliances with nearby distributors or developing their own distribution and sales channels to boost their share in the global IVUS catheters industry.
IVUS catheters are essential for the detection and management of cardiovascular disorders. IVUS images offer precise, on-the-spot knowledge about the interiors of blood vessels. This is crucial for the accurate detection of illnesses, such as coronary artery disease, stenosis, and peripheral artery disease.
Doctors can pinpoint the exact position and size of blockages with the help of IVUS catheters, and this is required when planning interventional operations, such as stent implantation or angioplasty. IVUS pictures can be utilized as a reference in order to ensure that interventional operations are carried out correctly and efficiently. Doctors can evaluate the efficacy of their treatments and modify their strategy as required with the use of these images. These benefits are anticipated to drive market development in the near future.
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Key Findings of Market Report
- Based on product type, the mechanical IVUS catheters segment led the global market in 2022. A revolving ultrasonic transducer is used by mechanical IVUS catheters to generate cross-sectional photos of the blood vessels. Clinicians are able to see intricate details of minor blood artery structures owing to their excellent resolution. They are also helpful in spotting plaque accumulation, which may be a crucial sign of cardiovascular disease. The benefits of these catheters are anticipated to drive business growth in the segment.
- Based on age, the adult segment held a significant market share in 2022, as per recent IVUS catheter market trends. Cardiovascular problems are more common in adults than in children. IVUS catheters are frequently used alongside other diagnostic methods, such as CT scans or angiography, to offer a more thorough view of the blood arteries. They are regularly utilized to assist the placement of devices and ensure the most favorable outcomes following interventional procedures, such as angioplasty or stent insertion.
- According to the recent market forecast, based on indication, the coronary artery disease segment emerged as dominant in the global market in 2022. The condition known as coronary artery disease (CAD) causes the arteries carrying blood to the heart to narrow or even become clogged. This happens when plaque accumulates inside the coronary artery walls, which are in charge of supplying the heart muscle with blood that is enriched in oxygen. The use of IVUS catheters would increase as they are used more extensively to treat coronary artery disease.
- Based on end-user, the hospital's segment held the leading market share in 2022. IVUS catheters are utilized more often in hospitals to enhance patient outcomes and lower the possibility of complications following interventional procedures. As a result, an increase in IVUS catheter usage in hospitals is projected to fuel the segment.
Global IVUS Catheters Market: Growth Drivers
- IVUS catheters can be inserted through a minor incision and do not need to be surgically implanted as they are minimally invasive. As a result, patients can heal faster, thereby lowering the possibility of complications. Reduced pain and suffering, shorter recovery time, and lower risk of infection are some benefits of minimally invasive treatments over conventional open procedures. This substantiates the growing popularity of minimally invasive procedures, including IVUS catheters among both patients and healthcare providers. Therefore, the increasing demand for minimally invasive treatments is likely to augment market demand for IVUS catheters.
- There is rising adoption of non-invasive and precise diagnostic procedures as cardiac diseases have become increasingly prevalent globally. IVUS catheters are increasingly used for accuracy, real-time monitoring, and less invasiveness. As a result, the use of these catheters in treating cardiovascular illnesses is increasing. The World Health Organization (WHO) reports that cardiovascular illnesses are one of the major causes of death worldwide. Around 17.9 million people died from these illnesses in 2019, which was 32% of all deaths globally. Furthermore, heart attacks and strokes accounted for 85% of these fatalities. Thus, it is predicted that the global IVUS catheter market would expand as cardiovascular disorders become more common.
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Global IVUS Catheters Market: Regional Landscape
- North America led the global industry in 2022. The region is anticipated to continue to dominate the global IVUS catheters market between 2023 and 2031. The Centers for Disease Control and Prevention (CDC) estimates that in the U.S., cardiovascular illnesses claim the lives of one person in 34 seconds. High incidence of cardiovascular disorders is likely to expand the market in North America.
Global IVUS Catheters Market: Key Players
Some of the key players in the global IVUS catheters market are;
- Infraredx, Inc. (Nipro Medical Corporation)
- Medical Corporation
- Boston Scientific Corporation
- ICU Medical, Inc.
- ACIST Medical Systems, Inc.
- GE HealthCare
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Global IVUS Catheters Market: Segmentation
Product Type
- Mechanical IVUS Catheters
- Solid-state IVUS Catheters
- Digital IVUS Catheters
- Others
Age
- Pediatric
- Adult
Indication
- Aortic Aneurysm
- Blood Clots
- Coronary Artery Disease
- Deep Vein Thrombosis
- Others
End-user
- Hospitals
- Ambulatory Surgical Centers
- Diagnostic Centers
- Others
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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