The coronary intravascular lithotripsy market size is projected to be worth USD 324.4 Million in 2023. The market is likely to surpass USD 592.2 Million by 2033 at a CAGR of 6.2% during the forecast period.
The increasing frequency of coronary artery diseases. Intravascular lithotripsy (IVL) is gaining popularity as a viable alternative to classic athrectomy treatments such excisional, laser ablation, or rotational athrectomies.
It has also been stated that IVL is easy to learn and may be a more widely used surgical treatment than other options. According to a research undertaken by the National Heart Centre Singapore (NHCS) that evaluated the efficiency of IVL and RA treatments on severely calcified coronary lesions, IVL procedures performed similarly to RA procedures in terms of angiographic success rates. The study also discovered that IVL needed less fluoroscopy time.
Other Drivers Propelling the Demand for Coronary Intravascular Lithotripsy include:
Challenges for Companies /Manufacturers in the Coronary Intravascular Lithotripsy Market:
Opportunities in the Coronary Intravascular Lithotripsy Industry:
Latest Trends in the Coronary Intravascular Lithotripsy Market:
| Attributes | Details |
|---|---|
| Coronary Intravascular Lithotripsy Market Size (2023) | USD 324.4 Million |
| Coronary Intravascular Lithotripsy Market Projected Size (2033) | USD 592.2 Million |
| Value CAGR (2023 to 2033) | 6.2% |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
From 2017 to 2022, the global coronary intravascular lithotripsy market experienced a CAGR of 5.0 %, reaching a market size of USD 324.4 Million in 2023.
From 2017 to 2022, the global coronary intravascular lithotripsy industry witnessed steady growth due to the shift towards minimally invasive treatments. Coronary IVL is a relatively new interventional cardiology device, and its market has grown steadily in recent years.
With the advent of IVL, a novel option for treating calcified coronary artery lesions was created, addressing a huge unmet need in the cardiovascular industry.
Since its initial approval and commercialization, the use of coronary IVL has grown as additional clinical data proving its efficacy has emerged. The availability of specialized IVL systems, advances in catheter technology, and increasing physician experience have all led to market expansion.
Future Forecast for Coronary Intravascular Lithotripsy Industry:
Looking ahead, the global coronary intravascular lithotripsy industry is expected to rise at a CAGR of 6.2% from 2023 to 2033. During the forecast period, the market size is expected to reach USD 592.2 million in 2033.
The rising global frequency of cardiovascular illnesses, especially calcified lesions, is expected to increase demand for effective treatment alternatives. Because IVL is a minimally invasive alternative to standard treatments, it has the potential to expand as a result of its capacity to meet an unmet therapeutic need.
As more physicians become aware of the benefits of IVL and clinical data accumulates, the device may become more widely used. Increased acceptability among interventional cardiologists and healthcare providers has the potential to propel market expansion.
| Country | The United States |
|---|---|
| Market Size (USD million) by End of Forecast Period (2033) | USD 206.6 Million |
| CAGR % 2023 to End of Forecast (2033) | 6.6% |
The coronary intravascular lithotripsy industry in the United States is expected to reach a market value of USD 206.6 million by 2033, expanding at a CAGR of 6.6%.
The coronary intravascular lithotripsy market in the United States is expected to grow as the coronary artery disease in on the rise. For instance, According to the CDC, the most frequent kind of heart disease is coronary heart disease, which will kill 375,476 individuals in 2021. Coronary IVL provides a less invasive and effective therapeutic option for individuals with severely calcified coronary lesions, fueling market acceptance and growth.
| Country | The United Kingdom |
|---|---|
| Market Size (USD million) by End of Forecast Period (2033) | USD 28.0 million |
| CAGR % 2023 to End of Forecast (2033) | 6.1% |
The coronary intravascular lithotripsy industry in the United Kingdom is expected to reach a market value of USD 28.0 million by 2033, expanding at a CAGR of 6.1% during the forecast period. The market in the United Kingdom is expected to grow due to the increased preference for minimally invasive treatment options.
The UK healthcare system prioritizes the use of novel medical technology to enhance patient outcomes. As healthcare professionals and hospitals become more aware of coronary IVL, this technique is likely to be adopted as a beneficial therapeutic option for patients with calcified coronary lesions. As a result, the UK government is planning to invest in new medical technology to improve healthcare systems. For example, the NHS spends around £10 billion each year on medical technologies.
| Country | China |
|---|---|
| Market Size (USD billion) by End of Forecast Period (2033) | USD 48.4 billion |
| CAGR % 2023 to End of Forecast (2033) | 8.8% |
The coronary intravascular lithotripsy industry in China is anticipated to reach a market value of USD 48.4 million by 2033, moving at a CAGR of 8.8% during the forecast period. Due to the advantages of minimally invasive procedures, such as shorter hospital stays, quicker recovery periods, and less problems, they are becoming more and more popular in China. For instance, because to its advantages including shorter hospital stays, quicker recovery periods, and less problems, minimally invasive therapies are becoming more and more popular in China.
This trend is supported by the minimally invasive treatment for calcified coronary lesions known as coronary IVL, which is anticipated to see more use in the future.
| Country | Japan |
|---|---|
| Market Size (USD million) by End of Forecast Period (2033) | USD 21.9 million |
| CAGR % 2023 to End of Forecast (2033) | 6.4% |
The coronary intravascular lithotripsy industry in Japan is estimated to reach a market value of USD 21.9 million by 2033, thriving at a CAGR of 6.4%. During the projection period, the Japan market grew due to growing geriatric population.
Japan's ageing population, along with a rising incidence of heart illnesses, pushes the desire for effective, less invasive treatment alternatives. Coronary IVL serves an unmet therapeutic need and adds to market growth by treating calcified lesions.
| Country | South Korea |
|---|---|
| Market Size (USD million) by End of Forecast Period (2033) | USD 7.2 million |
| CAGR % 2023 to End of Forecast (2033) | 5.9% |
The coronary intravascular lithotripsy industry in South Korea is expected to reach a market share of USD 7.2 million, expanding at a CAGR of 5.9% during the forecast period. South Korea's government has been aggressively supporting healthcare reforms and encouraging the use of modern medical technology.
Policies that priorities cardiovascular disease management and medical device development create a favorable environment for the market expansion of coronary IVL.
Principal Consultant
The hospitals dominated the coronary intravascular lithotripsy industry with a share of 42.7% in 2022. This segment captures a significant market share in 2023 while growing at a projected CAGR of 7.3% between 2023 and 2033, due to the demand for accessible and convenience.
In clinic settings, hospitals may greatly contribute to the patient care team by examining drugs and teaching patients about various cardiac diseases. As a result, hospitals are critical in heart care treatment.
The coronary intravascular lithotripsy industry is highly competitive and numerous players are actively seeking to get hold of market share. In such a scenario, key players have to adopt strategies, which are effective in order to stay ahead of the competition.
Key Strategies Adopted by the Players
Product Innovation
Companies make significant investments in R&D to bring new goods to market that offer improved efficiency, dependability, and cost-effectiveness. Companies may set themselves apart from rivals and adapt to clients' changing requirements thanks to product innovation.
Strategic Partnerships and Collaborations
Strategic partnerships and collaborations between leading organisations in the sector are frequently formed to take advantage of one another's advantages and broaden their market reach. These partnerships can provide businesses access to emerging markets and technology.
Expansion into Emerging Markets
The market for coronary intravascular lithotripsy is expanding significantly in developing nations like China and India. Important firms are creating local production facilities and bolstering their distribution networks in an effort to increase their market share.
Mergers and Acquisitions
In order to strengthen their market positions, increase the scope of their product offerings, and gain access to new markets, major companies in the coronary intravascular lithotripsy market frequently participate in mergers and acquisitions.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
Shockwave Medical, Inc.
Key Developments in the Coronary Intravascular Lithotripsy Market:
On February 12, 2021, the USA FDA approved two Intravascular Lithotripsy (IVL) Systems- Shockwave Intravascular Lithotripsy (IVL) System and Shockwave C2 Coronary Intravascular Lithotripsy (IVL) Catheter, according to Shockwave Medical, Inc.
The market is valued at USD 324.4 million in 2023.
From 2017 to 2022, the market registered a CAGR of 5%.
The market shall reach USD 592.2 million in 2033.
The United States will register a 6.6% CAGR until 2033.
Collaborations will likely unlock scope for innovation in the market.
1. Executive Summary 2. Market Overview 3. Key Market Trends 4. Value Added Insights 5. Market Background 6. Global Market Volume (in Units) Analysis 2018 to 2022 and Forecast, 2023 to 2033 7. Global Market - Pricing Analysis 8. Global Market Demand (in Value or Size in USD Million) Analysis 2018 to 2022 and Forecast, 2023 to 2033 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 9.1. Hospitals 9.2. Ambulatory Surgical Centers 9.3. Specialty Clinics 9.4. Others 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Region 10.1. North America 10.2. Latin America 10.3. Europe 10.4. South Asia 10.5. East Asia 10.6. Oceania 10.7. Middle East and Africa (MEA) 11. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 12. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 13. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033 14. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033 15. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033 16. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033 17. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033 18. Market Structure Analysis 19. Competition Analysis 19.1. DermaSensor AUS 19.2. Strata Skin Sciences (Mela Sciences) 19.3. FotoFinder Systems GmbH 19.4. Canfield Scientific 19.5. MedX Health Corp. 19.6. HEINE Optotechnik 19.7. Verisante Technology, Inc. 20. Assumptions and Acronyms Used 21. Research Methodology
Explore Healthcare Insights
View Reports
Coronary Intravascular Lithotripsy Market
