Intravascular Ultrasound Market Size, Share | Report 2022-2030
The global intravascular ultrasound market was surpassed at USD 768.9 million in 2021 and is expected to hit around USD 1.21 billion by 2030, growing at a CAGR of 5.13% from 2022 to 2030.
Report Highlights
The rising prevalence of cardiovascular disorders coupled with the increasing demand for effective diagnostic techniques is the key factor driving the market. Moreover, consistent technological advancements are further expected to boost market growth during the forecast period. Intravascular ultrasound (IVUS) is an effective intravascular imaging modality as this technology overcomes numerous disadvantages of angiography, which utilizes X-ray technology to create images.
Furthermore, the growing demand for advanced and accurate medical imaging is resulting in the rapid development of Artificial Intelligence (AI). For instance, in March 2021, GE Healthcare announced a portable Point-of-Care Ultrasound Device (POCUS) called Venue Fit, in addition to an industry-first AI tool for cardiac imaging. Favorable reimbursement policies for coronary intervention procedures in developed countries are further anticipated to boost industry growth over the forecast period. The Centers for Medicare & Medicaid Services (CMS) offers favorable healthcare insurance policies for various cardiovascular procedures.
This may increase the number of patients opting for such services. Some of the prominent companies in the industry are undertaking different initiatives, such as funding and acquisitions of medium- and small-sized businesses to expand their product portfolios and enhance their manufacturing capacities. For instance, in August 2020, Philips launched Affiniti CVx a cardiovascular ultrasound system. The solution is designed to help cardiology departments provide better care to more patients with enhanced efficiency and throughput.
Scope of The Report
| Report Coverage | Details |
| Market Size in 2021 | USD 768.9 million |
| Revenue Forecast by 2030 | USD 1.21 billion |
| Growth rate from 2022 to 2030 | CAGR of 5.13% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segmentation | Modality, product, end-use, region |
| Companies Covered |
Canon Medical Systems Corp.; Boston Scientific Corp.; GE Healthcare; Philips; Siemens Healthcare; Hitachi; Mindray Medical International Ltd.; Fujifilm Corp.; Samsung Medison; Chison Medical Technologies |
Modality Insights
The virtual histology IVUS modality segment is a traditional method of intravascular ultrasound. The segment dominated the global industry in 2021 and accounted for the maximum share of more than 68.01% of the overall revenue. The segment is expected to continue its dominance throughout the forecast period. This technique employs radiofrequency ultrasound backscatter data to identify the components of plaque, including NC, calcification, fibrous tissue, and fibrofatty tissue.
Thus, it is best known for the characterization of tissues. The iMap segment, on the other hand, is anticipated to register the fastest growth rate during the forecast period. Coronary plaque is divided into four components by iMap-IVUS: fibrotic, lipidic, necrotic, and calcified. Similar to VH-IVUS, iMap can be used to identify high-risk plaques and anticipates adverse effects from PCI, such as sluggish flow. This technique makes use of the ultrasonic backscatter signal to characterize plaque morphology or tissue in greater detail and to shed light on the characteristics of vulnerable plaque.
Product Insights
The accessories product segment dominated the global intravascular ultrasound (IVUS) market in 2021 and accounted for the maximum share of more than 60.46% of the overall revenue. The segment is projected to expand further at the fastest CAGR and maintain its dominant industry position throughout the forecast period. This segment is sub-segmented into catheters, guidewires, and others. Accessories, such as guidewires, allow real-time viewing of organ movement.
Guidewires are used in procedures, such as angiograms, cardiac surgeries, and stent placements. An increase in the volumes of angiogram procedures is expected to boost the growth of this sub-segment. The catheters sub-segment held the largest revenue share of the accessories segment as catheters form a crucial component of an IVUS test. The increasing incidence of coronary heart disease is anticipated to further propel the growth of the catheters sub-segment. For instance, in the U.S., heart disease claimed the lives of almost 697,000 people in 2020, accounting for 1 in 5 fatalities.
End-use Insights
Based on end-uses, the global industry has been further segmented into hospitals, diagnostic imaging centers, and academic and research institutes. Hospitals held the largest market share in 2021. The number and type of ultrasound studies performed at the hospital facility are higher compared to any other end-user. Mid- to large-sized hospitals install medical imaging equipment within the premises as this can be a major source of outpatient profits. Therefore, the higher utilization rate of ultrasound, coupled with a large patient base, has contributed to this segment’s largest market share.
The diagnostic imaging centers segment is expected to register the fastest growth rate over the forecast period. The majority of large-scale hospitals have their own medical imaging facilities. However, medical imaging facilities require investment, space, skilled professionals, and high maintenance charges. This increases the financial burden on hospitals in managing these facilities. Therefore, for medical imaging facilities, hospitals prefer to collaborate with diagnostic centers. This helps small- and medium-sized hospitals to reduce overall expenses. Hence, a growing number of partnerships between hospitals and diagnostic centers is expected to drive segment growth.
Regional Insights
North America dominated the global industry in 2021 and accounted for the maximum share of more than 43.9% of the overall revenue. The segment is projected to expand further at a steady growth rate over the forecast period. This can be attributed to several factors, such as increased adoption of ultrasound technology in primary care settings, improved accessibility, and high healthcare spending in countries with efficient reimbursement policies.
Technological innovations and the growing incidence of chronic conditions are also anticipated to drive the growth of the regional market. On the other hand, Asia Pacific is expected to register the fastest growth rate during the forecast period on account of the supportive government initiatives for improving the healthcare infrastructure in the region. Furthermore, economic development in countries, such as India and China, is expected to facilitate the growth of this region. The presence of a large population pool with low per capita income levels has led to a high demand for affordable treatment options, which will also contribute to regional market growth.
Key Players
Market Segmentation
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Intravascular Ultrasound Market
5.1. COVID-19 Landscape: Intravascular Ultrasound Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Intravascular Ultrasound Market, By Modality
8.1. Intravascular Ultrasound Market, by Modality, 2022-2030
8.1.1 Virtual Histology IVUS
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. iMap IVUS
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Integrated Backscatter IVUS
8.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Intravascular Ultrasound Market, By Product
9.1. Intravascular Ultrasound Market, by Product, 2022-2030
9.1.1. Consoles
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Accessories
9.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Intravascular Ultrasound Market, By End-use
10.1. Intravascular Ultrasound Market, by End-use, 2022-2030
10.1.1. Hospitals
10.1.1.1. Market Revenue and Forecast (2017-2030)
10.1.2. Diagnostic Imaging Centers
10.1.2.1. Market Revenue and Forecast (2017-2030)
10.1.3. Academic & Research Institutes
10.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 11. Global Intravascular Ultrasound Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Modality (2017-2030)
11.1.2. Market Revenue and Forecast, by Product (2017-2030)
11.1.3. Market Revenue and Forecast, by End-use (2017-2030)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Modality (2017-2030)
11.1.4.2. Market Revenue and Forecast, by Product (2017-2030)
11.1.4.3. Market Revenue and Forecast, by End-use (2017-2030)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Modality (2017-2030)
11.1.5.2. Market Revenue and Forecast, by Product (2017-2030)
11.1.5.3. Market Revenue and Forecast, by End-use (2017-2030)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Modality (2017-2030)
11.2.2. Market Revenue and Forecast, by Product (2017-2030)
11.2.3. Market Revenue and Forecast, by End-use (2017-2030)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Modality (2017-2030)
11.2.4.2. Market Revenue and Forecast, by Product (2017-2030)
11.2.4.3. Market Revenue and Forecast, by End-use (2017-2030)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Modality (2017-2030)
11.2.5.2. Market Revenue and Forecast, by Product (2017-2030)
11.2.5.3. Market Revenue and Forecast, by End-use (2017-2030)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Modality (2017-2030)
11.2.6.2. Market Revenue and Forecast, by Product (2017-2030)
11.2.6.3. Market Revenue and Forecast, by End-use (2017-2030)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Modality (2017-2030)
11.2.7.2. Market Revenue and Forecast, by Product (2017-2030)
11.2.7.3. Market Revenue and Forecast, by End-use (2017-2030)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Modality (2017-2030)
11.3.2. Market Revenue and Forecast, by Product (2017-2030)
11.3.3. Market Revenue and Forecast, by End-use (2017-2030)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Modality (2017-2030)
11.3.4.2. Market Revenue and Forecast, by Product (2017-2030)
11.3.4.3. Market Revenue and Forecast, by End-use (2017-2030)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Modality (2017-2030)
11.3.5.2. Market Revenue and Forecast, by Product (2017-2030)
11.3.5.3. Market Revenue and Forecast, by End-use (2017-2030)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Modality (2017-2030)
11.3.6.2. Market Revenue and Forecast, by Product (2017-2030)
11.3.6.3. Market Revenue and Forecast, by End-use (2017-2030)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Modality (2017-2030)
11.3.7.2. Market Revenue and Forecast, by Product (2017-2030)
11.3.7.3. Market Revenue and Forecast, by End-use (2017-2030)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Modality (2017-2030)
11.4.2. Market Revenue and Forecast, by Product (2017-2030)
11.4.3. Market Revenue and Forecast, by End-use (2017-2030)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Modality (2017-2030)
11.4.4.2. Market Revenue and Forecast, by Product (2017-2030)
11.4.4.3. Market Revenue and Forecast, by End-use (2017-2030)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Modality (2017-2030)
11.4.5.2. Market Revenue and Forecast, by Product (2017-2030)
11.4.5.3. Market Revenue and Forecast, by End-use (2017-2030)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Modality (2017-2030)
11.4.6.2. Market Revenue and Forecast, by Product (2017-2030)
11.4.6.3. Market Revenue and Forecast, by End-use (2017-2030)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Modality (2017-2030)
11.4.7.2. Market Revenue and Forecast, by Product (2017-2030)
11.4.7.3. Market Revenue and Forecast, by End-use (2017-2030)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Modality (2017-2030)
11.5.2. Market Revenue and Forecast, by Product (2017-2030)
11.5.3. Market Revenue and Forecast, by End-use (2017-2030)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Modality (2017-2030)
11.5.4.2. Market Revenue and Forecast, by Product (2017-2030)
11.5.4.3. Market Revenue and Forecast, by End-use (2017-2030)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Modality (2017-2030)
11.5.5.2. Market Revenue and Forecast, by Product (2017-2030)
11.5.5.3. Market Revenue and Forecast, by End-use (2017-2030)
Chapter 12. Company Profiles
12.1. Canon Medical Systems Corp.
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Boston Scientific Corp.
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. GE Healthcare
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Philips
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Siemens Healthcare
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Hitachi
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Mindray Medical International Ltd.
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Fujifilm Corp.
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Samsung Medison
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Chison Medical Technologies
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers