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Global Intravascular Ultrasound System (IVUS) Market To Witness Growth Owing To Rising R&D Initiatives Aimed At Improving The Potential Of Healthcare Industry Till 2022

Global Intravascular Ultrasound System (IVUS) Market To Witness Growth Owing To Rising R&D Initiatives Aimed At Improving The Potential Of Healthcare Industry Till 2022

The global IVUS market is categorized on the basis of product type, application, and region. Based on product type, the Intravascular Ultrasound System (IVUS) market is segmented into compact intravascular ultrasound and platform intravascular ultrasound. Based on application, the market is categorized into cardiovascular diseases and peripheral arterial diseases.

The global Intravascular Ultrasound System (IVUS) market is expected to witness substantial growth over the forecast period (from 2017 to 2022). Increasing occurrence of various cardiovascular diseases (CVDs) is expected to be the key factor driving the growth of this market during the forecast years. Moreover, high unmet clinical needs for CVD management across the globe is anticipated to fuel the market. Various technological developments in the area of image guided therapeutic solutions are also likely to boost the adoption of IVUS in future. In addition, recent medical studies encouraging the use of IVUS-guided stent placement are expected to serve as a key growth factor for the global market.

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Lack of uniform reimbursement and high costs associated with these devices may hinder the growth of this market. However, increasing adoption levels of these products across the globe will offset the challenges facing players in the market. Use of intravascular ultrasound systems as an adjuvant tool in angiography and stenting procedures is also likely to contribute toward the growth of the global market. Moreover, rising healthcare expenditure in various developing regions is expected to spur the demand for IVUS over the coming years. Integration of these systems with many other imaging modalities is becoming popular and this is also estimated to benefit the market.

Royal Philips recently announced the re-launch of its innovative Pioneer Plus catheter, the only re-entry device with IVUS capabilities, which benefits both patients and physicians. The catheter is designed to facilitate positioning and placement of catheters in the peripheral vasculature. It is also said to decrease overall procedure time, which, in turn, can considerably decrease discomfort of patients as they spend lesser time on the operating table.

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Based on region, the Intravascular Ultrasound System (IVUS) market is divided into Japan, India, China, Southeast Asia, Europe, and North America. The North America region is expected to lead the global intravenous ultrasound systems market on account of high purchasing power. Intravascular ultrasound systems usage in the Europe region is struggling mainly because of lack of reimbursement policies in several countries. Southeast Asia is expected to witness rapid growth on account of rising cardiac surgeries. Favorable reimbursement policies for intravascular ultrasound systems are expected to drive their adoption in Japan over the next few years.

Some of the key companies operating in the global Intravascular Ultrasound System (IVUS) market are Terumo Medical Corp. (TMC); Siemens Healthineers; Boston Scientific Corp.; Koninklijke Philips N.V.; Volcano Corp.; Infraredx, Inc.; and Medtronic Public Ltd. Co. The global IVUS market is highly competitive and hence, these companies focus on global expansion and research and development activities in order to gain the maximum market share.

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