October 08, 2021
According to the research report titled ‘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’, available with MarketStudyReport, global intracardiac echocardiography (ICE) and intravascular ultrasound (IVUS) market is expected to witness robust growth over 2021-2027.
Surging demand for medical imaging, and growing prevalence of chronic illnesses are propelling global intracardiac echocardiography (ICE) and intravascular ultrasound (IVUS) market growth. Moreover, factors such as technological advancements, launch of innovative devices, high preference for minimally invasive cardiac procedures, and rising incidence of heart disease are boosting the market outlook.
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For those uninitiated, intracardiac echocardiography (ICE) is an imaging technique allowing high-resolution, real-time visualization of cardiac structures. It enables constant monitoring of catheters placed inside the heart and allows for early detection of procedural complications like pericardial effusion or thrombus formation.
Despite the positive outlook, dearth of skilled professionals, and high costs associated with the procedures are likely to impede industry development in the upcoming years.
Considering application-based classification of worldwide intracardiac echocardiography (ICE) and intravascular ultrasound (IVUS) market, the others segment is estimated to grow at a considerable CAGR through the assessment timeframe. This can be attributed to high demand for advanced imaging techniques in minimally invasive surgeries and increasing product adoption for lowering procedural complications with efficient visualization of complex coronary & peripheral structures.
Based on end-user scope, the others segment was worth USD 95 million in 2020 and is poised to generate significant returns over 2021-2027. Development of specialty facilities, such as cardiac & ablation centers, which diagnose and treat a range of complex diseases is expected to drive segmental growth over the forthcoming years.
Geographically speaking, Middle East & Africa market is slated to amass notable gains over the forecast period, progressing at a CAGR of 3.9% throughout. Surging demand for advance diagnostic imaging, and rising focus on enhancing existing healthcare infrastructure are expected to create massive growth opportunities for businesses operating in the MEA market.
Prominent players influencing global intracardiac echocardiography (ICE) and intravascular ultrasound (IVUS) industry are Koninklijke Philips N.V., Siemens Healthineers AG, Conavi Medical Inc., Infraredx Inc., Biosense Webster Inc. (Johnson & Johnson), Boston Scientific Corp., and Abbott Laboratories.