According to the latest market research study released by Technavio, the global intravascular ultrasound market is expected to grow at a CAGR of around 7% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global intravascular ultrasound market based on product:
Global intravascular ultrasound market share by product 2015
|
IVUS catheters |
51.13% |
|
IVUS consoles |
38.72% |
|
Accessories |
10.15% |
Source: Technavio
The top three revenue contributing product segments are discussed below:
IVUS catheters
In 2015, IVUS catheters accounted for around 51% of the global intravascular ultrasound market share, which was highest among all other products. The IVUS catheters are very useful, as without these, procedures cannot be performed. The catheters can be categorized in two types reusable and disposable. The disposable catheters find its application more in hospitals and diagnostic centers as they reduce the probabilities of infections, hospital stays, ensures fast recovery and does not require maintenance.
“Customized OCT-IVUS imaging catheters are expected to gain popularity as they determine the potentiality of plaque that causes heart attack. These advanced catheters are cost-effective and needs less evasive procedure which makes them the most preferred option among healthcare professional and individuals.,” says Barath Palada, a lead analyst at Technavio for research on medical imaging.
The growing demand of advanced catheters in hospitals and other diagnostic centers has compelled the vendors to focus on the development of these catheters. Various types of catheters have been introduced in the market with improved designs and manufacturing material which has further boosted growth in the intravascular market. The technological advances in OCT-IVUS imaging devices will lead to innovative catheters and will drive growth in the market during the forecast period. It is anticipated that the increased use of disposable catheters will have a positive effect on the market during the forecast period.
IVUS consoles
IVUS consoles accounted for around 38% of the global intravascular ultrasound market during 2015. IVUS consoles refers to the computerized ultrasound equipment and are very expensive, requiring a huge one-time investment. Advanced technology leads to development of wireless, potable, easy handling and less power consumed devices which need less maintenance. The equipment reduces the overall system cost by lowering power consumption. To reduce investment costs and increase profit, hospitals and diagnostics centers are increasingly opting for IVUS consoles. Further, to increase sales of IVUS console the vendors are focusing on reducing the prices. These devices are yet to gain popularity in developing countries such as India, China, Malaysia, South Korea, and Iraq due to their high costs. However, it is expected that the high effectiveness and efficiency of IVUS consoles will positively impact the console adoption potential during the forecast period.
Accessories (pullback devices, guidewires, others)
In 2015, accessories accounted for around 10% of the global intravascular ultrasound market share. Accessories comprises of pullback devices, guidewires that are used along with intravascular ultrasound devices during diagnostic procedure, to deliver steady and precise withdrawal of catheters during procedures. Devices such as Trak Back II, SpinVision Pullback device, and R-100 pullback devices are efficient, cost-effective, and reusable and have maximum pullback stability. The prevalent guidewires in the market are Verrata Pressure Guide Wire, FloWire Doppler Guide wire, and PrimeWire PRESTIGE Pressure Guide Wire. The FloWire guide wire measures coronary arterial blood flow velocity and coronary flow reserve (CFR) while Doppler Guidewires provide direct measurements of intracoronary flow.
The top leading vendors operating in the global intravascular ultrasound market are:
- Philips Volcano
- Boston Scientific
- GE Healthcare
- Siemens Healthineers
Other prominent vendors in the market include Avinger, Hitachi Aloka Medical America, Infraredx, Medtronic, Samsung Medison, Silicon Valley Medical Instruments, and St. Jude Medical.
A more detailed analysis is available in the Technavio report titled, ‘Global Intravascular Ultrasound Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Refurbished Medical Devices Market 2016-2020
- Global Portable Ultrasound Market 2015-2019
- Global Ultrasound Equipment Market 2015-2019
- Global 3D Medical Imaging Equipment Market 2016-2020
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