Intravascular Ultrasound (IVUS): A Global Strategic Business Report
San Jose, CA (PRWEB) August 29, 2011
Intravascular Ultrasound (IVUS) has been witnessing substantial growth in recent years. The market growth of intravascular ultrasound, employed predominantly while performing the stenting procedure in Percutaneous Coronary Intervention (PCI), is based upon the number of PCI procedures as well as the stenting placements or stenting procedures. IVUS technology is used for assessing appropriate placement of the stent, to check for complete expansion of the stent, and for visualizing and assessing plaque built-up. The technology is considered superior to the traditional angiography method due to the incapability of angiography to offer cross sectional data regarding the plaque morphology. IVUS imaging is likely to address unmet requirements for the earlier detection of coronary artery disease. Imaging of coronary arteries is the largest application of IVUS, accounting for a lion’s share of the market.
Sales of IVUS devices have garnered substantial momentum in recent years, reaching new highs. Major factors that are nurturing this growth include the emergence of robust data supporting IVUS through clinical studies. Results from major international studies such as PROSPECT and FAME have highlighted the economic as well as the clinical benefits associated with the use of angioplasty guidance techniques such as IVUS, as against limitations related to use of angiography as a standalone technique. Although global adoption of IVUS technique as an addition to the PCI procedures is increasing worldwide, the cost of the devices has been a major growth restraint. Growing emphasis on cost-effective treatment worldwide is expected to act as a major restraining force on the IVUS market in the ensuing years. Pertinently, reimbursements assume a greater role in the increasing penetration of this technique, which presently stays at a much lower level. Reimbursements for use of IVUS vary depending upon the country where the procedure is carried out. Remarkable success of IVUS in the Japanese market is chiefly attributed to the full reimbursement provided for IVUS in the country. In comparison, reimbursements offered for IVUS in the US are lower and vary significantly among regions of the country. IVUS usage in Europe is also struggling due to the lack of reimbursements in many countries across the region. At the same time, a number of other procedures as well as diagnostic tests that are not being reimbursed have been able to achieve success and achieve market traction with time, and IVUS is likely to follow the same path and witness a better market penetration in future.
Japan represents the largest regional market for intravascular ultrasound worldwide, as stated by the new market research report on Intravascular Ultrasound. Use of IVUS in PCI procedures is much more prevalent in Japan than any other country worldwide. The major factor for high penetration in Japan is the acceptance of IVUS as a treatment standard in the country. The US trails behind the Japanese market, followed by the European market. However, growth in the market would be led by Asia-Pacific, which is projected to be the fastest growing regional market witnessing a CAGR of more than 14% during the analysis period. Segment-wise, Intravascular Ultrasound Catheters represents the largest segment. On the other hand, the global demand for Intravascular Ultrasound Consoles is projected to grow steadily by 2013. Of the two, IVUS catheters remain the key revenue-generating component for IVUS device manufacturers. These are single-use devices with a significantly lower price tag when compared to imaging consoles. On the other hand, IVUS consoles are re-usable systems with a higher price tag attached to them. Despite their low sales in terms of volumes, revenues from the segment are not trivial, mainly due to its higher price compared to the IVUS catheters.
The global IVUS market is highly consolidated, with the global market dominated by three major players – Volcano Corp., Boston Scientific Corp., and Terumo Corp. Volcano and Boston Scientific vie in the US and European markets, while Terumo Corporation competes with these players in the Japanese market. Volcano, a US-based company, presently dominates the global market for IVUS. Major players profiled in the report include Volcano Corp., Boston Scientific Corp., Terumo Corp., Siemens Healthcare, Silicon Valley Medical Instruments Inc., Avinger Inc., InfraReDx Inc., among others.
The research report titled “Intravascular Ultrasound (IVUS): A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the Intravascular Ultrasound market, current market trends, global and regional statistics on PCI and IVUS procedures, market shares of leading companies, key growth drivers, recent product approvals, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for Intravascular Ultrasound market for the years 2008 through 2017 for the following geographic markets - US, Japan, Europe, Asia-Pacific, and Rest of World. The report also analyzes the market by the following segments – Intravascular Ultrasound Catheters, and Intravascular Ultrasound Consoles.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Intravascular_Ultrasound_IVUS_Market_Report.asp
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