Intravascular Ultrasound [IVUS] Devices Market Gains from Rise in Diagnosis of Complex CTO Lesions, Finds TMR

- High prevalence of coronary artery diseases coupled with increasing focus of numerous countries on building robust healthcare infrastructure will contribute to the expansion of the intravascular ultrasound devices market

- Increasing adoption of technologically advanced diagnostic equipment will foster growth of the intravascular ultrasound devices market, which is projected to expand at a CAGR of 7.1%

ALBANY, N.Y., Aug. 24, 2021 /PRNewswire/ -- The incidence of coronary artery diseases is increasing exponentially around the world. Various technologies have been introduced to diagnose and treat these diseases. Intravascular ultrasound devices are one of them. Thus, based on these factors, the intravascular ultrasound devices market will observe expansive growth during the forecast period of 2021-2031.

Intravascular ultrasound devices are equipped with medical imaging technologies. They use ultrasound transducers on the catheter tip to carry imaging of the interior of blood vessels. They are also used for assessing lesion length, vessel/lumen diameter, amount of plaque buildup, etc. They are further used for measuring the effectiveness of balloon angioplasty. The utilization of intravascular ultrasound devices in a variety of applications will bring immense growth prospects for the market players.

Transparency Market Research (TMR) has conducted a comprehensive research on all aspects related to the growth of the intravascular ultrasound devices market. TMR experts estimate the intravascular ultrasound devices market to expand at a CAGR of 7.1% during the forecast period. The intravascular ultrasound devices market was valued at US$ 600 Mn in 2020 and is expected to surpass valuation of US$ 1.22 Bn by 2031.

Sedentary lifestyle coupled with consumption of smoking and alcohol is increasing the prevalence of cardiovascular diseases, which, in turn, is propelling the intravascular ultrasound devices market

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Key Findings of Report

Reimbursement Policies Serving as Revenue Generator for Intravascular Ultrasound Devices Market

Even if technological advancements are playing a pivotal role in enhancing the growth structure of the intravascular ultrasound devices market, reimbursement policies are also vital in the growth of the market. Reimbursement policies designed by government bodies of numerous countries and various med-tech companies include the cost of intravascular ultrasound device diagnosis. Thus, these factors help in increasing the demand for diagnosis.

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Development of Hybrid Catheters Utilizing Optical Coherence Tomography (OCT), Intravascular Ultrasound Imaging Modalities to Increase Growth Prospects

Optical coherence tomography and intravascular ultrasound devices are used separately for assessing and detecting the vulnerability of coronary diseases. However, manufacturers are focusing on developing hybrid catheters that use both imaging modalities to enable perfect diagnosis and analysis of the coronary conditions. The players in the intravascular ultrasound devices market are investing in research and development activities to study more on these models. This aspect will have a profound impact on the growth of the intravascular ultrasound devices market.

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Intravascular Ultrasound Devices Market: Prime Growth Drivers

• Utilization of intravascular ultrasound devices for complex chronic total occlusion (CTO) lesions will serve as a vital market growth driver
• Integration of micromachined ultramachine transducers to overcome the issues faced due to piezoelectric transducers will boost the intravascular ultrasound devices market
• High adoption of intravascular ultrasound devices in specialty clinics due to rising awareness about the importance of coronary artery diagnosis and increasing patient pool to fuel market growth
• Some of the well-established players in the intravascular ultrasound devices market are Siemens Healthineers AG, Boston Scientific Corporation, ACIST Medical Systems, and Axle International.

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Global Intravascular Ultrasound (IVUS) Devices Market: Segmentation

• Intravascular Ultrasound (IVUS) Devices Market, by Product
• IVUS Consoles
• Integrated System
• Cart Syste
• IVUS Catheters
• IVUS Transducers
• IVUS Accessories
• Intravascular Ultrasound (IVUS) Devices Market, by Application
• Coronary Diagnosis
• Coronary Intervention
• Coronary Research
• Non-coronary/Peripheral Applications
• Intravascular Ultrasound (IVUS) Devices Market, by End User
• Hospitals
• Specialty Clinics
• Ambulatory Surgical Centers
• Diagnostic Laboratories
• Research Institutes
• Intravascular Ultrasound (IVUS) Devices Market, by Region
• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa
• GCC Countries
• South Africa
• Rest of Middle East & Africa

Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Industry Research Reports by Transparency Market Research: 

Ultrasound Devices Market: Although trolley or cart-based ultrasound devices are likely to dominate a high revenue share, the demand for compact or handheld ultrasound devices in the ultrasound devices market is projected to grow at an exponential rate during the forecast period.

Handheld Ultrasound Devices Market: Increasing prevalence of cancer and demand for cancer diagnosis are expected to fuel the handheld ultrasound devices market during the forecast period. Additionally, technological advancements in health care is expected to boost the market during the forecast period. Rise in geriatric population is projected to boost the global market during the forecast period.

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