IVUS Catheters Market Overview
As per MRFR analysis, the IVUS Catheters Market Size was estimated at 717.14 (USD Billion) in 2022. The IVUS Catheters Market is expected to grow from 762.46 (USD Billion) in 2023 to 1,323.0 (USD Billion) by 2032. The IVUS Catheters Market CAGR (growth rate) is expected to be around 6.32% during the forecast period (2024 - 2032).
Key IVUS Catheters Market Trends Highlighted
The global intravascular ultrasound (IVUS) catheter market is poised for significant growth amidst evolving healthcare needs and technological advancements. Key market drivers include the rising prevalence of cardiovascular diseases, the increasing adoption of minimally invasive procedures, and the advancement of IVUS technologies.
Opportunities for manufacturers lie in the development of innovative catheters with enhanced capabilities, the expansion into emerging markets, and the integration of IVUS with other diagnostic and therapeutic modalities.
The market has seen trends toward miniaturization, improved imaging quality, and the development of catheters designed for specific anatomical regions.
Furthermore, the integration of IVUS with other modalities, such as optical coherence tomography (OCT) and near-infrared spectroscopy (NIRS), offers opportunities for more comprehensive vascular assessments.
The increasing adoption of digital IVUS systems and the development of software for image analysis and data management are also shaping the market landscape.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
IVUS Catheters Market Drivers
Rising Prevalence of Cardiovascular Diseases
Cardiovascular diseases (CVDs) are the leading cause of death globally, and their prevalence is on the rise. This is due to several factors, including aging populations, unhealthy diets, and lack of physical activity.
As the number of people with CVDs increases, so does the demand for diagnostic and treatment procedures such as intravascular ultrasound (IVUS). IVUS is a minimally invasive procedure that uses sound waves to create images of the inside of blood vessels.
This allows doctors to assess the severity of CVDs and plan appropriate treatment strategies. The rising prevalence of CVDs is a major driver of growth in the Global IVUS Catheters Market.
As the number of people with CVDs increases, so does the demand for IVUS procedures. This is expected to continue in the coming years as the global population ages and the prevalence of CVDs continues to rise.
Technological Advancements in IVUS Catheters
Technological advancements are also driving growth in the Global IVUS Catheters Market. In recent years, there have been significant advancements in IVUS Catheters, making them more accurate, versatile, and easier to use.
For example, new IVUS Catheters have been developed with higher resolution imaging capabilities, which allows doctors to see more detail in the blood vessels. Additionally, new IVUS Catheters have been developed with smaller profiles, which makes them easier to insert into blood vessels.
Growing Awareness of IVUS Benefits
The growing awareness of the benefits of IVUS is also driving growth in the Global IVUS Catheters Market. IVUS is a valuable tool for diagnosing and treating CVDs, and its benefits are becoming increasingly well-known.
For example, IVUS can help doctors identify and characterize atherosclerotic plaques, which are the leading cause of heart attacks and strokes. IVUS can also help doctors to assess the severity of CVDs and plan appropriate treatment strategies.
Global IVUS Catheters Market Segment Insights
IVUS Catheters Market Product Type Insights
The major product types in the global IVUS Catheters Market are Orthogonal Coherence Tomography OCT Imaging, Virtual Histology VH Imaging, and Optical Coherence Tomography OCT Imaging.
The OCT Imaging product segment had the highest market share in 2023 and is projected to continue its dominance over the forecast period. This is mainly due to the rising uptake of OCT imaging across several cardiovascular procedures, including diagnosis of coronary artery diseases and evaluation of stents.
The VH Imaging segment forms another significant type of product in the global IVUS Catheters market. VH Imaging provides precise high-resolution cross-sectional images of the vessel wall and microstructure of the coronal artery where vulnerable plaque is located.
Owing to the rising need for VH Imaging for complex coronary interventions, the market for this product type is expanding significantly. OCT Imaging is the rapid growing segment in the global IVUS Catheters Market.
OCT Imaging offers high-definition images for stent apposition, vessel wall thickness, coronary arteries, and plaque morphology. Constant technological advancements in the OCT Imaging segment, coupled with continued usage in PCIs, are driving the growth of this segment.
The global IVUS Catheters Market 2024-2032 is expected to witness a major level of growth. This remarkable growth is mainly attributed to the rising incidence of cardiovascular diseases, increasing demand for minimally invasive procedures, and technological advancements in IVUS Catheters.
Global IVUS Catheters Market, by Product Type 2023 & 2032 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
IVUS Catheters Market Application Insights
The Global IVUS Catheters Market Segmentation by Application in Intravascular Imaging for Coronary Artery Disease, Intravascular Imaging for Peripheral Artery Disease, Intravascular Imaging for Cerebrovascular Disease, and Intravascular Imaging for Structural Heart Disease provides important insights concerning the industry's driving forces.
In 2023, Intravascular Imaging for Coronary Artery Disease held the largest market share and is also projected to retain its control throughout the forecast period. The primary reason for this is the high incidence of coronary artery disease and the increasing utilization of intravascular imaging techniques for diagnosis and treatment planning.
The second segment, Intravascular Imaging for Peripheral Artery Disease, is expected to exhibit the fastest growth during the anticipated period.
This is due to the outcomes of the statistical analysis on, primarily, the rising prevalence rates of peripheral artery disease and demand for minimally invasive procedures.
Intravascular Imaging for Cerebrovascular Disease and Intravascular Imaging for Structural Heart Disease are also expected to make a notable contribution to the growth of the Global IVUS Catheters Market soon.
IVUS Catheters Market Indication Insights
The Global IVUS Catheters Market segmentation by Indication includes Coronary Artery Disease, Peripheral Artery Disease, Cerebrovascular Disease, and Structural Heart Disease.
Coronary Artery Disease held the largest market share in 2023, owing to the rising prevalence of CAD and the increasing adoption of IVUS Catheters for diagnosis and treatment planning.
Peripheral Artery Disease is expected to witness the fastest growth during the forecast period due to the growing awareness about PAD and the increasing number of minimally invasive procedures.
The Global IVUS Catheters Market for Cerebrovascular Disease is projected to grow at a steady pace, driven by the rising incidence of stroke and the increasing use of IVUS Catheters for the diagnosis and treatment of cerebrovascular diseases.
The Structural Heart Disease segment is anticipated to experience moderate growth over the forecast period, owing to the increasing number of patients with structural heart defects and the growing adoption of IVUS Catheters for the diagnosis and treatment of these defects.
The increasing adoption of IVUS Catheters in various clinical applications is expected to drive the growth of the Global IVUS Catheters Market in the coming years.
IVUS Catheters Market End User Insights
Hospitals are anticipated to dominate the Global IVUS Catheters Market throughout the forecast period, accounting for over 69.2% of the market share in 2024. This dominance can be credited to the high prevalence of cardiovascular diseases and the increasing adoption of minimally invasive procedures in hospitals.
Moreover, rising healthcare expenditure in emerging economies is fueling the growth of the hospital segment.
Ambulatory surgical centers are projected to witness a significant growth rate during the forecast period due to the increasing preference for outpatient procedures and the growing number of these centers.
Cardiology clinics are expected to hold a considerable market share owing to the rising focus on early diagnosis and monitoring of cardiovascular diseases. Diagnostic imaging centers are also anticipated to contribute to the market growth, driven by the increasing availability of advanced imaging technologies and the growing number of patients undergoing cardiovascular imaging procedures.
IVUS Catheters Market Regional Insights
The regional segmentation of the Global IVUS Catheters Market showcases diverse market dynamics and growth patterns.
North America is expected to dominate the market in 2023 with a significant revenue share of 38.5%, driven by factors such as the presence of major market players, advanced healthcare infrastructure, and high adoption of minimally invasive procedures.
Europe follows closely with a revenue share of 31.2%, owing to the increasing geriatric population and rising prevalence of cardiovascular diseases.
The Asia-Pacific (APAC) region is projected to witness the fastest growth during the forecast period, with a CAGR of 7.2%, primarily due to rising healthcare expenditure, growing awareness about advanced medical technologies, and increasing disposable income.
South America and the Middle East and Africa (MEA) regions are anticipated to contribute a smaller share to the overall market but are expected to demonstrate steady growth in the coming years.
Global IVUS Catheters Market, by Region 2023 & 2032 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
IVUS Catheters Market Key Players and Competitive Insights
Major players in the IVUS Catheters Market are continuously striving to enhance their product offerings, expand their global presence, and strengthen their market position. Strategic collaborations, acquisitions, and product launches are key elements of their competitive strategies.
Leading IVUS Catheters Market players are focused on developing advanced technologies such as optical coherence tomography (OCT) and intravascular ultrasound (IVUS) to improve the diagnostic capabilities of their devices.
Additionally, they are investing in research and development to refine existing products and introduce new features. Furthermore, the IVUS Catheters Market is characterized by intense competition, with numerous established and emerging players vying for market share.
These companies are constantly innovating and differentiating their products to meet the evolving needs of healthcare providers and patients.
Boston Scientific Corporation, a leading player in the IVUS Catheters Market, has a strong portfolio of intravascular imaging systems and devices. The company's products are widely used in various cardiovascular procedures, including coronary artery disease diagnosis and treatment.
Boston Scientific is known for its commitment to innovation and its focus on providing advanced solutions to healthcare professionals. The company has a global presence and a well-established distribution network, which enables it to reach a wide range of customers.
Philips Healthcare, another major player in the IVUS Catheters Market, offers a comprehensive suite of diagnostic and therapeutic solutions for cardiovascular care. The company's interventional imaging systems, including intravascular ultrasound devices, provide detailed images of blood vessels and enable accurate diagnosis and treatment planning.
Philips Healthcare is committed to developing innovative technologies that enhance patient outcomes and improve healthcare efficiency. The company has a strong global presence and collaborates with healthcare providers worldwide to deliver advanced medical solutions.
Key Companies in the Global IVUS Catheters Market Include:
- Siemens Healthineers
- Philips Healthcare
- Terumo Corp.
- Jude Medical, Inc.
- Bracco Imaging
- Boston Scientific Corporation
- Johnson Johnson Services, Inc.
- Fujifilm Holdings Corporation
- GE Healthcare
- Esaote S.p.A.
- Cardinal Health
- Abbott Laboratories
- Shimadzu Corporation
- Guerbet
- Medtronic plc
Global IVUS Catheters Market Developments
The increasing prevalence of cardiovascular diseases, technological advancements, and rising demand for minimally invasive procedures are key factors driving market growth.
Asia-Pacific is expected to witness the highest growth due to the increasing healthcare expenditure, rising population, and growing awareness about cardiovascular diseases.
Key industry players are focusing on research and development to introduce innovative products and expand their market presence.
Global IVUS Catheters Market Segmentation Insights
IVUS Catheters Market Product Type Outlook
- Orthogonal Coherence Tomography (OCT) Imaging
- Virtual Histology (VH) Imaging
- Optical Coherence Tomography (OCT) Imaging
IVUS Catheters Market Application Outlook
- Intravascular Imaging for Coronary Artery Disease
- Intravascular Imaging for Peripheral Artery Disease
- Intravascular Imaging for Cerebrovascular Disease
- Intravascular Imaging for Structural Heart Disease
IVUS Catheters Market Indication Outlook
- Coronary Artery Disease
- Peripheral Artery Disease
- Cerebrovascular Disease
- Structural Heart Disease
IVUS Catheters Market End User Outlook
- Hospitals
- Ambulatory Surgical Centers
- Cardiology Clinics
- Diagnostic Imaging Centers
IVUS Catheters Market Regional Outlook
- North America
- Europe
- South America
- Asia-Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
717.14 (USD Billion) |
| Market Size 2023 |
762.46 (USD Billion) |
| Market Size 2032 |
1323.0 (USD Billion) |
| Compound Annual Growth Rate (CAGR) |
6.32% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Siemens Healthineers, Philips Healthcare, Terumo Corp., St. Jude Medical, Inc., Bracco Imaging, Boston Scientific Corporation, Johnson Johnson Services, Inc., Fujifilm Holdings Corporation, GE Healthcare, Esaote S.p.A., Cardinal Health, Abbott Laboratories, Shimadzu Corporation, Guerbet, Medtronic plc |
| Segments Covered |
Product Type, Application, Indication, End User, Regional |
| Key Market Opportunities |
Growing Prevalence of Cardiovascular Diseases Advancements in Imaging Technologies Expansion of Healthcare Infrastructure in Emerging Markets Rising Demand for Minimally Invasive Procedures Government Initiatives and Reimbursement Policies |
| Key Market Dynamics |
Rise in prevalence of cardiovascular diseases Technological advancements in IVUS Catheters Growing adoption of minimally invasive procedures |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The global IVUS Catheters Market is expected to reach a valuation of USD 1323.0 billion by 2032, exhibiting a CAGR of 6.32% between 2024 and 2032.
North America is the dominant region in the Global IVUS Catheters Market, followed by Europe and Asia-Pacific. Emerging markets in Asia-Pacific, such as China and India, are expected to witness significant growth due to rising healthcare expenditure and increasing prevalence of cardiovascular diseases.
IVUS Catheters are primarily used in the diagnosis and treatment of cardiovascular diseases. Their applications include: - Plaque assessment - Stent placement guidance - Atherectomy guidance - Intravascular imaging.
Major players in the Global IVUS Catheters Market include: - Abbott Laboratories - Boston Scientific Corporation - Medtronic plc - Terumo Corporation - Koninklijke Philips N.V.
Factors driving the growth of the Global IVUS Catheters Market include: - Rising prevalence of cardiovascular diseases - Technological advancements, such as the development of optical coherence tomography (OCT) catheters - Increasing demand for minimally invasive procedures - Growing geriatric population.
Challenges faced by the Global IVUS Catheters Market include: - High cost of IVUS Catheters - Reimbursement issues - Stringent regulatory approvals - Competition from other imaging modalities.
The Global IVUS Catheters Market is projected to register a CAGR of 6.32% from 2024 to 2032.
The Global IVUS Catheters Market was valued at USD 762.46 billion in 2023.
The Global IVUS Catheters Market is expected to reach a valuation of USD 1323.0 billion by 2032.
Key trends shaping the Global IVUS Catheters Market include: - Advancements in OCT technology - Increasing adoption of 3D IVUS - Growing use of IVUS in emerging markets - Integration of AI and machine learning in IVUS systems.
