Intravascular Ultrasound Imaging System Market 2018: Technological Advancements, Current and Future Scenario Of The Market
Intravascular ultrasound imaging system (IVUS) is a catheter-based imaging technique, which allows visualization and assessment of the morphological properties of blood vessels and heart. It provides observation of the real-time aortic diameter assessment. This technique is especially useful when other techniques such as computed tomography and angiography does not provide adequate imaging details. Intravascular ultrasound imaging is performed by directly cannulating a miniature catheter into the arteries (mostly into coronary artery) to check plaque inside artery that results in coronary artery disease. Intravascular ultrasound system has been increasingly used for clinical investigation purposes such as in guiding the placement of stent or evaluation of therapy strategies and the follow-up examinations in heart transplant recipients.
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Intravascular Ultrasound System Market – Market Dynamics
Increasing incidence of cardiovascular diseases is one of the significant factors driving growth of the intravascular ultrasound system market. Atherosclerosis is a condition in which narrowing of the arteries leads to ischemia of the heart, which is a main consequence of cardiovascular disease. Atherosclerosis leads to myocardial infarction (heart attack) if it is left untreated. Plaque is considered to be the main determinant of luminal narrowing in atherosclerosis. Examination of plaque can be done using intravascular ultrasound system market. According to the World Health Organization (WHO) factsheet in 2017, globally 17.7 million people die due to cardiovascular diseases (CVDs) annually, which accounts for around 31% of all deaths worldwide. 80% of all CVD deaths are due to heart attacks and strokes. This can be prevented if these disease are diagnosed on time with the help of different approaches including intravascular ultrasound system.
Intravascular Ultrasound System Market – Regional Insights
On the basis of geography, the global intravascular ultrasound system market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to hold dominant position in the global intravascular ultrasound system market over the forecast period, owing to rising incidence of cardiovascular diseases in the U.S. Over 8 million people in the U.S. are affected by peripheral arterial disease, according to the National Institutes of Health, Facts about Peripheral Arterial Disease published in September 2017.
Furthermore, cardiovascular disease accounts for around 800,000 deaths in the U.S. annually. According to statistics given by the American College of Cardiology in February 2017, over 90 million people in the U.S. get diagnosed with cardiovascular disease. This high diagnosis rate is expected to drive growth of the intravascular ultrasound system market. Emerging economies in Asia Pacific is expected to witness high CAGR over the forecast period due to high death rate due to cardiovascular diseases in the region. According to the World Health Organization (WHO), in 2017, 75% of CVD deaths occurred in low-income and middle-income economies.
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Intravascular Ultrasound System Market – Competitive Landscape
Key players operating in the global intravascular ultrasound system market include Philips Volcano, Boston Scientific Corporation, GE Healthcare, Siemens Healthineers, Infraredx, Medtronic plc, Samsung Madison, Silicon Valley Medical Instruments, and Abbott Healthcare.