Intracardiac Echocardiography (ICE) and Intravascular Ultrasound (IVUS) Market Size By Application (Electrophysiology Procedures, Left Atrial Appendage Closure, Septal Defects), By End-use (Hospitals, Catheterization Laboratories), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021 - 2027

Published Date: Aug 2021  |  Report ID: GMI5088  |  Authors: Sumant Ugalmugale, Rupali Swain

Report Format: PDF   |   Pages: 100   |   Base Year: 2020

Summary Table of Contents Industry Coverage Methodology

Industry trends

Intracardiac Echocardiography and Intravascular Ultrasound Market size was valued at over USD 650 million in 2020 and is expected to grow at a CAGR of more than 5.2% between 2021 and 2027. Adoption of intracardiac echocardiography (ICE) catheters assists the electrophysiologist by capturing images within the heart. Intravascular ultrasound (IVUS) is a medical imaging technique that use designed catheter with an ultrasound probe attached to the catheter at distal end. ICE and IVUS modalities help in better visualization of coronary structure, thereby offering better outcomes and treatment planning.

Intracardiac Echocardiography (ICE) and Intravascular Ultrasound (IVUS) Market Overview

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Growing developments in the cardiovascular diagnostics and imaging field will drive the market growth. With rising prevalence of vascular disorders owing to lifestyle changes, the procedure volume has significantly grown over the forecast period. Myocardial infarction is one of the leading vascular disorders that result in rising acceptance of intravascular ultrasound (IVUS) for detecting plaque characteristics and periprocedural complications. However, high cost of these devices may hinder the market expansion.

COVID-19 pandemic has negatively impacted intracardiac echocardiography (ICE) and intravascular ultrasound (IVUS) demand worldwide

The COVID-19 pandemic has negatively impacted the overall market progression. COVID-19 is generally known to cause severe acute respiratory syndrome and has also caused many cardiac-related issues. However, due to limitations on electrophysiology and several cardiovascular procedures, the operating companies experienced certain decline in business revenues initially. On the other hand, COVID-19 recovered patients suffer from several vascular complications that requires regular monitoring.

Increasing prevalence of cardiovascular disorders will augment the market value

Intracardiac Echocardiography (ICE) and Intravascular Ultrasound (IVUS) Market Size

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The electrophysiology procedures segment exceeded USD 180 million in 2020. Growing incidences of cardiac arrhythmias and rising preference for minimally invasive procedures enhance the demand for electrophysiology. ICE has been widely adopted in electrophysiology procedures for visualization of transseptal catheter position in relation to other structures within the heart. Moreover, development of 4D ICE technology and growing preference for minimally invasive procedures will influence the segment growth.

Rising installation of medical imaging equipment in hospitals will positively impact the segment expansion

The hospitals segment dominated more than 66% of the market share in 2020 led by the high spending capacity of hospitals on innovative devices coupled with presence of skilled expertise. Adding to this, increasing number of patient visits in hospitals will propel the segment value during the forecast period.

Growing prevalence of cardiovascular diseases will stimulate the demand for intracardiac echocardiography (ICE) and intravascular ultrasound (IVUS) in the APAC region

Asia Pacific intracardiac echocardiography and intravascular ultrasound market accounted for 40% of revenue share in 2020 impelled by the increasing burden of cardiovascular disease coupled with expanding elderly patient pool. Various cardiovascular disorders require superior imaging technology for appropriate procedural outcomes and will thereby boost the demand for ICE & IVUS devices.

Advanced healthcare settings in developing countries including China and India are installing innovative cardiological modalities along with increasing awareness. Additionally, Japan has substantial penetration rate of ICE and IVUs technologies that primarily contributes to the APAC industry demand.

Product launch and partnerships will assist the companies in the business expansion

The global market includes notable companies such as Koninklijke Philips N.V, Boston Scientific Corporation, Biosense Webster Inc., and Abbott Laboratories. These players are actively involved in product launches and partnerships to stay competitive in the market.

Some of the recent industry developments:

  • In July 2018, Infraredx announced the launch of Makoto Intravascular Imaging System with Dualpro IVUS+NIRS Catheter in Japan. This has resulted in business progression of the company in the region.
  • In February 2020, Conavi Medical Inc. with Japan Lifeline announced the product clearance of its Novasight Hybrid intravascular imaging system, from the Ministry of Health, Labor and Welfare (MHLW) in Japan. This has strengthened its footprint with the geographical expansion in Asia.

The ICE and IVUS market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2027 for the following segments:

Market, By Application

  • Electrophysiology Procedures
  • Left Atrial Appendage Closure
  • Septal Defects
  • Others

Market, By End-use

  • Hospitals
  • Catherization Laboratories
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
  • Asia Pacific
    • Japan
    • China
    • India
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • Saudi Arabia
    • South Africa

Frequently Asked Questions (FAQ) :

Market size of Intracardiac echocardiography and intravascular ultrasound exceeded USD 650 million in 2020 and will observe a CAGR of more than 5.2% through 2027.
Electrophysiology segment was valued at over USD 180 million in 2020 driven by rising incidences of cardiac arrhythmias.
Hospitals segment had captured over 66% of the market share in 2020 on account of the availability of skilled professionals and increasing investments on innovative devices.
Asia Pacific market held over 40% of revenue share in 2020 owing to rising cases of cardiovascular disease in the region.

Premium Report Details

  • Published Date: Aug 2021
  • Pages: 100
  • Tables: 113
  • Charts / Figures: 11
  • Companies covered: 7
  • Countries covered: 14

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