Intravascular Ultrasound Market Size, Share & Trends Analysis Report By Modality (Mercury-based, Mercury-free), By Product (Pediatric, Adults), End Use (Ear, Forehead), By Region, And Segment Forecasts, 2024 - 2030

Intravascular Ultrasound Market Trends

The global intravascular ultrasound market size was estimated at USD 807.8 million in 2023 and is projected to grow at a CAGR of 5.2% from 2024 to 2030. The rising demand for effective diagnostic cardiovascular imaging techniques due to a rise in the incidence of cardiovascular diseases (CVDs) is one of the high impact-rendering factors resulting in greater adoption of intravascular ultrasound (IVUS) devices. The total number of global deaths from cardiovascular diseases rose from 12.4 million in 1990 to 19.8 million in 2022. This increase reflects factors such as population growth, aging, and the influence of preventable risk factors.

In addition, the rising prevalence of cardiovascular diseases is a major driver of the IVUS market. According to the CDC, every 33 seconds, one person dies from cardiovascular disease. In 2022, heart disease claimed the lives of 702,880 people, accounting for 1 in every five deaths. Cardiovascular diseases remain the leading cause of death worldwide, prompting a growing demand for advanced diagnostic tools. IVUS provides clinicians with the ability to accurately assess vessel anatomy and plaque characteristics, facilitating early diagnosis and intervention. As the global burden of CVD continues to rise, so does the need for effective diagnostic technologies, thus propelling the IVUS market forward.

Moreover, technological advancements in IVUS devices have significantly contributed to market growth. Innovations such as high-frequency transducers and advanced imaging software have improved the resolution and clarity of IVUS images. These technological improvements enhance the accuracy of diagnoses and the effectiveness of interventions, making IVUS a preferred choice among healthcare professionals. Continuous research and development in this field are expected to further drive the adoption of IVUS technology, expanding its market reach.

Furthermore, the increasing adoption of minimally invasive procedures is boosting the demand for IVUS. Patients and healthcare providers are increasingly opting for less invasive diagnostic and therapeutic options due to their associated benefits, such as reduced recovery times and lower risks of complications. IVUS, being a minimally invasive imaging technique, aligns perfectly with this trend. Its ability to provide detailed images without the need for extensive surgical procedures makes it an attractive option in modern medical practices.

Market Concentration & Characteristics

The intravascular ultrasound industry showcases a high degree of innovation, with advancements such as high-resolution imaging, automated plaque detection, and real-time 3D visualization. These innovations enhance diagnostic accuracy and procedural efficiency, driving widespread adoption and improving patient outcomes in cardiovascular care. Continuous R&D efforts promise further breakthroughs, solidifying IVUS's role in modern medical diagnostics.

The industry has seen a notable increase in mergers and acquisitions (M&A) activities. Major healthcare companies are acquiring innovative IVUS technology firms to expand their product portfolios and strengthen their market presence. These strategic M&As foster technological advancements, streamline R&D efforts, and enhance competitive positioning, contributing to overall market growth and development.

Regulations significantly impact the Intravascular Ultrasound (IVUS) industry by ensuring device safety and efficacy. Stringent approval processes by agencies like the FDA and EMA uphold high standards, fostering trust among healthcare providers. However, these rigorous requirements can also delay market entry and increase costs for manufacturers, influencing the pace of innovation and market dynamics.

Product expansion in the Intravascular Ultrasound (IVUS) industry is experiencing a high level of activity. Companies are continuously introducing advanced IVUS systems with enhanced imaging capabilities, user-friendly interfaces, and integration with other diagnostic tools. For instance, in July 2022, Intravascular Imaging Incorporated unveiled its 3-F IVUS near-infrared fluorescence imaging intravascular ultrasound catheter. This device was developed in collaboration with Massachusetts General Hospital in Boston, Massachusetts. This expansion is driven by the growing demand for precise cardiovascular diagnostics and the need for comprehensive solutions in interventional procedures. High product innovation and development efforts are aimed at addressing diverse clinical needs, thus broadening the market's scope and enhancing its growth trajectory.

Regional expansion in the Intravascular Ultrasound (IVUS) industry is experiencing high momentum. Companies are strategically entering emerging markets in Asia-Pacific, Latin America, and the Middle East due to rising healthcare investments and the growing prevalence of cardiovascular diseases. In addition, established markets in North America and Europe continue to see advancements with the adoption of cutting-edge IVUS technologies. This widespread regional growth enhances global market reach, improves access to advanced diagnostic tools, and drives overall market expansion.

Modality Insights

The virtual histology IVUS segment held the largest share of 61.1% in 2023. This technology combines traditional IVUS imaging with advanced software to provide detailed tissue characterization and plaque composition analysis. By offering precise identification of different plaque types, virtual histology IVUS enhances diagnostic accuracy and guides targeted therapeutic interventions. Its adoption is increasing among cardiologists seeking comprehensive diagnostic tools for better patient outcomes, driving significant growth and innovation within the IVUS market.

The iMAP IVUS segment is expected to grow at the fastest CAGR over the forecast period. iMAP IVUS, known for its advanced imaging capabilities, provides high-resolution, three-dimensional images of blood vessels, enhancing diagnostic precision and treatment planning. This modality allows for a detailed assessment of vessel morphology and plaque characterization, leading to more accurate interventions. The increasing demand for minimally invasive procedures and the need for comprehensive vascular imaging are driving the adoption of iMAP technology. In addition, ongoing technological advancements and growing clinical applications are further fueling the expansion of the iMAP IVUS segment, contributing to its significant market growth.

Product Insights

Accessories held the largest revenue share of 61.7% in 2023 and is expected to grow at the fastest CAGR over the forecast period, due to the increasing demand for enhanced imaging and procedural efficiency. This segment includes components such as specialized catheter guides, protective sheaths, and advanced imaging probes, which are essential for optimizing IVUS systems' performance. Accessories improve the ease of use, accuracy, and safety of IVUS procedures by providing better maneuverability, reducing procedure times, and ensuring high-quality imaging. In May 2023 , Philips unveiled its latest cardiology innovations at EuroPCR 2023, highlighting advancements designed to enhance clinical confidence and efficiency in treating cardiac disease. Among the featured innovations were the Pressure Guide Wire – OmniWire and the company’s cutting-edge intravascular ultrasound (IVUS) catheters. As the adoption of IVUS technology grows and clinical applications expand, the accessories segment is poised for substantial growth, driven by ongoing innovations and the need for comprehensive vascular diagnostic solutions.

The consoles segment is experiencing robust growth, driven by innovations and technological advancements. Modern IVUS consoles now feature enhanced processing power, high-resolution displays, and advanced imaging software, which significantly improve diagnostic accuracy and user experience. These consoles support real-time imaging, 3D reconstruction, and automated analysis, streamlining cardiovascular procedures and enhancing overall clinical efficiency. Ongoing technological improvements are continually advancing console capabilities, fueling their increasing adoption and market expansion.

End Use Insights

The hospitals segment held the largest share of 42.0% in 2023, driven by increased healthcare investment and the rising prevalence of cardiovascular disorders. Hospitals are investing in advanced IVUS systems to enhance diagnostic precision and improve patient outcomes in cardiovascular care. The growing emphasis on early detection and minimally invasive procedures is accelerating the adoption of IVUS technology. As hospitals seek to offer state-of-the-art diagnostic tools and treatment options, the demand for advanced IVUS systems is expected to rise, further boosting market growth.

The diagnostic imaging centers segment is anticipated to experience the fastest CAGR during the forecast period. While large-scale hospitals often have their medical imaging facilities, managing these requires substantial investment, space, skilled personnel, and high maintenance costs, which can burden hospital finances. As a result, many hospitals prefer partnering with diagnostic imaging centers. This collaboration helps smaller and medium-sized hospitals reduce their overall expenses. Consequently, the increasing number of partnerships between hospitals and diagnostic centers is expected to drive significant growth in this segment.

Regional Insights

The North America intravascular ultrasound market dominated the overall global market in 2023 with a 45.1% revenue share. This large share is driven by increasing cardiovascular disease prevalence, advancements in technology, and a strong healthcare infrastructure. Key players in this region include major companies such as Philips, Boston Scientific, and Abbott, which are leading innovations with advanced IVUS systems and complementary technologies. The market benefits from a high adoption rate of cutting-edge diagnostic tools and a focus on minimally invasive procedures. Ongoing R&D efforts and strategic collaborations among these key players further fuel market expansion, enhancing diagnostic capabilities and improving patient outcomes across North America.

U.S. Intravascular Ultrasound Market Trends

The U.S. intravascular ultrasound market held a significant share in the North America region in 2023 due to the rising prevalence of cardiovascular diseases and increasing demand for advanced diagnostic tools. Cardiovascular disease (CVD) continues to be the leading cause of death in the U.S., with 928,741 fatalities recorded in 2020. The market is significantly influenced by regulatory bodies such as the FDA, which ensures the safety and efficacy of IVUS devices. Stringent regulatory standards drive innovation and enhance the reliability of IVUS systems. The focus on improving diagnostic accuracy and patient outcomes continues to propel market growth, supported by ongoing advancements and regulatory approvals.

Europe Intravascular Ultrasound Market Trends

The intravascular ultrasound market in Europe is experiencing significant growth driven by advancements in technology, such as high-resolution imaging and real-time 3D visualization. These innovations enhance diagnostic precision and procedural efficiency, fueling market expansion. Increasing adoption of IVUS in cardiovascular procedures and ongoing technological developments are key factors contributing to the market's dynamic growth in Europe.

The UK intravascular ultrasound market is experiencing significant growth due to the significant prevalence of coronary heart disease (CHD), affecting 2.3 million people-approximately 1.5 million men and 830,000 women. Individuals with CHD or a history of heart attacks face double the risk of stroke, driving increased demand for advanced diagnostic tools like IVUS.

The intravascular ultrasound market in Germany is experiencing significant growth, driven by technological advancements such as enhanced imaging resolution and innovative catheter designs. These improvements boost diagnostic accuracy and procedural effectiveness, contributing to the growing adoption of IVUS systems in cardiovascular care throughout the country.

Asia Pacific Intravascular Ultrasound Market Trends

The Asia Pacific intravascular ultrasound market is anticipated to experience the fastest CAGR over the forecast period. A study published in December 2021 in Clinical Epidemiology and Global Health highlighted that 29.4% of older adults aged 45 and above in India self-reported diagnosed cardiovascular diseases (CVDs). This high prevalence underscores the growing need for advanced diagnostic technologies like IVUS in the region, driving market expansion and adoption.

The China intravascular ultrasound market is rapidly advancing, driven by cutting-edge technology and innovation. Recent developments include high-resolution imaging systems and sophisticated catheter designs that enhance diagnostic accuracy and procedural efficiency. These advancements are accelerating the adoption of IVUS in China, addressing the increasing demand for advanced cardiovascular diagnostic tools, and contributing to market growth.

The intravascular ultrasound market in Japan is experiencing significant growth, fueled by the introduction of new products and technological advancements. Recent product launches have enhanced diagnostic capabilities and procedural efficiency, driving increased adoption of IVUS systems across the country and contributing to the market's dynamic expansion.

Latin America Intravascular Ultrasound Market Trends

The Latin America intravascular ultrasound market is expanding rapidly due to rising cardiovascular disease rates and increasing demand for advanced diagnostic tools. The growing prevalence of cardiovascular conditions in the region is driving the adoption of IVUS technology, which offers detailed imaging and improved diagnostic precision. This surge in demand is contributing significantly to market growth.

Middle East and Africa Intravascular Ultrasound Market Trends

The intravascular ultrasound market in the MEA is expanding, driven by increased hospital investments in advanced technology. As hospitals expand and modernize their facilities, the adoption of IVUS systems is rising due to their superior diagnostic capabilities. This investment in technology is fueling significant market growth across the region.

The Saudi Arabia intravascular ultrasound market is expanding due to increased investment in healthcare infrastructure and rising awareness of cardiovascular disorders. Enhanced focus on advanced diagnostic tools, including IVUS systems, is driving market expansion and improving the detection and management of cardiovascular diseases in the region.

Key Intravascular Ultrasound Insights

The market is highly competitive, with key players such as Canon Medical Systems Corp., Boston Scientific Corp., GE Healthcare, Philips, Siemens Healthcare, and Hitachi holding significant positions. The major companies are undertaking various strategies, such as new product development, collaborations, acquisitions, mergers, and regional expansion, to serve their customers' unmet needs.

Recent Developments

• In April 2024, Provisio Medical announced that the Provisio IVUS System received FDA clearance. The Sonic Lumen Tomography technology fulfills a critical need for vascular specialists by offering automatic, real-time, precise numeric measurements of blood vessel lumens, simplifying the process without requiring complex image interpretation.

• In May 2024, SonoVascular announced a strategic partnership with Lantheus Holdings, Inc. to integrate microbubbles with the SonoThrombectomy System for treating venous thromboembolism.

• In October 2023 , Evident Vascular, a company specializing in AI-enhanced intravascular ultrasound technology, announced its launch, securing USD 35 million.

Intravascular Ultrasound Market Report Scope

Global Intravascular Ultrasound Market Report Segmentation

This report forecasts revenue growth at country levels and provides an analysis on the latest industry trends and opportunities in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global intravascular ultrasound market report on the basis of modality, product, end use, and region.

• Modality Outlook (Revenue, USD Million, 2018 - 2030)

  • Virtual Histology IVUS

  • iMAP IVUS

  • Integrated Backscatter IVUS

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Consoles

  • Accessories

    • Catheters

    • Guidewires

    • Others

• End Use Outlook (Revenue, USD Million, 2018 - 2030)

  • Hospitals

  • Diagnostic Imaging Centers

  • Academic And Research Institutes

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Norway

    • Denmark

    • Sweden

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

    • Thailand

  • Latin America

    • Brazil

    • Argentina

    • Mexico

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE