The global intracardiac echocardiography (ICE) and intravascular ultrasound (IVUS) market was valued at USD 804.2 Million in 2021 and it is anticipated to grow up to USD 1,275.4 Million by 2031, at a CAGR of 4.7% during the forecast period.
Intracardiac echocardiography (ICE) is considered as advanced imaging system, enabling physicians in high-resolution conception of cardiac tissues, real-time monitoring of catheter positioning and early identification of procedural difficulties. Whereas intravascular ultrasound (IVUS) makes use of transducer/probe to create sound waves and yield pictures of the internal structure of blood vessels.
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Market Trends and Drivers
Technological advancements are anticipated to strengthen the industry growth potential. The market growth is highly attributable to novel product launches. For instance, several industry players are currently focusing on the development of devices that can support both ICE and IVUS used in peripheral artery and coronary artery interventions for the visualization of stent positioning. Further, these advancements have transformed ICE imaging capabilities from 2D echo to 3D and further to 4D echo. As processing speed and computing power increases, ICE systems can process large volume of data to reconstruct the images in real time. Thus, with continued product innovations, the intracardiac echocardiography and intravascular ultrasound market will foresee tremendous growth opportunities.
Market Restraints and Challenges
The key restraints in the Intracardiac Echocardiography (ICE) and Intravascular Ultrasound (IVUS) market are the lack of skilled operators and the high cost of the devices. The lack of skilled operators is a result of the lack of training opportunities and the lack of awareness of the benefits of ICE and IVUS. The high cost of the devices is a result of the high cost of the technology and the lack of insurance reimbursement.
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Global Intracardiac Echocardiography (ICE) and Intravascular Ultrasound (IVUS) Market Segmentation
By Application
- Electrophysiology Procedures
- Left Atrial Appendage Closure
- Septal Defects
- Others
Major Players in the Global Intracardiac Echocardiography (ICE) and Intravascular Ultrasound (IVUS) Market
The key players in the market Abbott Laboratories, Boston Scientific Corporation, Johnson & Johnson Services Inc. (Biosense Webster Inc.), NIPRO (Infraredx, Inc.), CONAVI MEDICAL, Siemens Healthineers AG, Koninklijke Philips N.V. , Fujifilm Corporation, Chison Medical IMaging Co. Ltd., and Mindray Medical, among others.
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