Intravascular Imaging Market

Intravascular Imaging Market Outlook from (2023 to 2033)

The intravascular imaging market size is projected to be worth USD 387.8 million in 2023. The market is likely to reach USD 656.29 million by 2033. The market is further expected to surge at a CAGR of 5.4% during the forecast period 2023 to 2033.

Key Market Trends and Highlights

• The scope for intravascular imaging is predicted to climb as the incidence of deep vein thrombosis, heart illnesses with coronary block, and other conditions increases.
• The popularity of intravascular imaging is increasing largely because of the need for consistent picture output quality.
• Increased usage of intravascular imaging modalities is also expected to boost intravascular imaging revenue growth.
• The growing demand for intravascular methods of imaging is one of the high-impact contributing variables determining the intravascular imaging market share.

Attributes	Key Insights
intravascular imaging Market Estimated Size in 2023	USD 387.8 million
Projected Market Value in 2033	USD 656.29 million
Value-based CAGR from 2023 to 2033	5.4%

2018 to 2022 Historical Analysis vs. 2023 to 2033 Market Forecast Projections

The scope for intravascular imaging rose at a 4.4% CAGR between 2018 and 2022. The global market for intravascular imaging is anticipated to grow at a moderate CAGR of 5.4% over the forecast period 2023 to 2033.

Report Attribute	Details
Market Value in 2018	USD 3.9 billion
Market Value in 2022	USD 4.6 billion
CAGR from 2018 to 2022	4.4%

The global demand for intravascular imaging from 2018 to 2022 witnessed steady growth owing to a rising incidence of cardiovascular diseases.

The growth was propelled by ongoing technological advancements in intravascular imaging devices, increased awareness among healthcare professionals, and the dominance of key players like Philips and Boston Scientific. Regulatory requirements shaped product development and market access during this period.

Continued technological innovation, including AI-enhanced imaging, is expected to fuel market growth over the forecast period. Emerging markets with expanding healthcare infrastructure may present new opportunities.

The aging global population could increase demand for intravascular imaging, particularly for personalized medicine applications. Regulatory changes will remain a pivotal factor, impacting market dynamics and the speed of technology adoption.

The intravascular imaging market statistics overall are likely to evolve significantly, driven by technological advancements and shifting healthcare needs from 2023 to 2033.

Intravascular Imaging Market Key Drivers

• Since intravascular disease is usually associated with diet, age, physical activities, and so on, the globe's aging population is anticipated to boost the prevalence of diseases involving blood vessels, promoting demand for intravascular imaging and assisting in the development of intravascular imaging market share.
• Growing demand for intravascular imaging is also being driven by institutional and office-based physician attempts to minimise healthcare The rising popularity of intravascular imaging systems have been influenced by the trend towards downsizing, flexibility, and affordability.
• As a result of the higher efficacy of intravascular imaging procedures for the diagnosis of blood vessel disease, the widespread usage of intravascular imaging is predicted to greatly raise demand for intravascular imaging while propelling the intravascular imaging revenue rise.
• The rising availability of various products all over the world, including emerging economies, is likely to enhance intravascular imaging business and boost intravascular imaging market size.
• Companies' continued efforts to produce technologically improved diagnostic equipment are projected to fuel intravascular imaging demand and contribute to the rise of the intravascular imaging share of the marketplace.
• Worldwide increasing instances of deep vein thrombosis, heart illnesses with coronary block, and other conditions are likely to boost patient footfall in diagnostic centers, propelling intravascular imaging percentage growth.

Challenges in the Intravascular Imaging Market

• Intravascular imaging devices are often expensive to manufacture and maintain. This cost can pose a barrier to entry for smaller healthcare facilities and limit patient access to advanced imaging technologies.
• Stringent regulatory requirements, particularly in regions like the United States and Europe, can slow down the approval process for new intravascular imaging technologies.
• Meeting these requirements involves extensive clinical trials and documentation, which can be time-consuming and costly for manufacturers.
• In some healthcare systems, reimbursement policies for intravascular imaging procedures may be inadequate. This can discourage healthcare providers from adopting these technologies, as they may not witness a sufficient return on investment.
• Intravascular imaging technologies require specialized training for healthcare professionals.
• The complexity of interpreting images and using the equipment effectively can be a challenge, especially for less-experienced users.
• This highlights the need for comprehensive training programs to ensure accurate and safe utilization of these devices.

Country-wise Insights

The below table showcases revenues in terms of the top 5 leading countries, spearheaded by the United States and China. These two countries are expected to lead the market through 2033, with sizes of USD 700 million and USD 850 million.

Expected Market Values in 2033

The United States	USD 700 million
China	USD 850 million
The United Kingdom	USD 400 million
Japan	USD 700 million
South Korea	USD 300 million

Forecast CAGRs from 2023 to 2033

The United States	5.6%
China	5.5%
The United Kingdom	5%
Japan	5.1%
South Korea	4.7%

United States to Dominate the Market in North America

The United States is expected to reach USD 700 million by 2033, growing at a CAGR of 5.6%. The United States has been one of the largest markets for intravascular imaging technologies. The market has been characterized by steady growth owing to the prevalence of cardiovascular diseases.

The United States market is known for its early adoption of advanced medical technologies. Intravascular imaging companies in the United States have been at the forefront of developing and commercializing cutting-edge devices with improved image quality and diagnostic capabilities.

The United States Food and Drug Administration (FDA) plays a pivotal role in regulating medical devices, including intravascular imaging technologies. Stringent regulatory requirements are in place to ensure the safety and efficacy of these devices.

The United States intravascular imaging key companies are Boston Scientific, Abbott Laboratories, and Philips Healthcare, among others. These companies have a significant presence in the market and often compete through innovation and product development.

Intravascular imaging technologies are used in various clinical applications, such as guiding interventional cardiology procedures, assessing coronary artery diseases, and researching vascular conditions.

Access to reimbursement for intravascular imaging procedures is essential for market growth. Healthcare reimbursement policies in the United States have influenced the adoption and utilization of these technologies.

The High Prevalence of Cardiovascular Illnesses to Boost the Market in United Kingdom

A 5% CAGR is forecast for the country from 2023 to 2033. By the end of this forecast period, the United Kingdom intravascular imaging market is likely to total USD 400 million.

The market for intravascular imaging technologies has been growing steadily in the United Kingdom. This growth is driven by the increasing incidence of cardiovascular diseases and the need for advanced diagnostic and interventional tools.

The United Kingdom has witnessed the adoption of advanced intravascular imaging technologies, benefiting from innovations in image quality and device portability. These advancements have improved diagnostic accuracy and patient outcomes.

The use of medical devices, including intravascular imaging devices, in the United Kingdom is subject to regulatory oversight. The United Kingdom adhered to European Union regulations (CE Mark) for medical devices, but regulatory frameworks may have changed due to Brexit.

Major medical device companies and healthcare technology providers, such as Philips, Boston Scientific, and Abbott Laboratories, have a presence in the United Kingdom intravascular imaging market. They compete through product innovation and partnerships with healthcare institutions.

Huge Number of Key Players to Contribute to the Market Growth in China

The intravascular imaging market revenue in China is expected to reach a value of USD 850 million. The market in China is poised to expand at a CAGR of 5.5% through 2033.

China's Intravascular Imaging market outlook was on an upward trajectory due to the increasing prevalence of cardiovascular diseases in the country. The government's focus on improving healthcare infrastructure and expanding access to healthcare services in rural areas contributed to market growth.

Chinese companies, as well as international players, were actively investing in research and development to enhance the quality and affordability of intravascular imaging devices. This led to the introduction of advanced technologies and improved imaging capabilities.

China has a growing number of domestic manufacturers and startups entering the intravascular imaging market. These companies were competing vigorously with established global players, which resulted in innovation and cost-effective solutions.

The regulatory landscape in China was evolving to accommodate the growth of the medical device industry. The Chinese FDA (CFDA) played a crucial role in approving and regulating intravascular imaging devices.

Expanding access to healthcare services in rural areas and tier 2 and 3 cities is driving the adoption of intravascular imaging technologies beyond major urban centers in China.

Aging Population is Poised to Drive the Market Growth in Japan

Expected to reach USD 700 million by 2033, the intravascular imaging market in Japan is set to experience positive growth. From 2023 to 2033, the country is likely to register a 5.1% CAGR.

Japan has well-established market for Intravascular Imaging technologies. The market is stable, with moderate growth, driven by the aging population and the high prevalence of cardiovascular diseases.

Japanese companies and international players are actively engaged in research and development to improve the quality and capabilities of intravascular imaging devices. This led to the introduction of advanced technologies and enhanced imaging solutions.

Intravascular imaging is widely used in Japan for guiding interventional cardiology procedures, diagnosing coronary artery diseases, and assessing vascular conditions. The technology played a crucial role in optimizing patient outcomes.

Japan's regulatory authorities, including the Pharmaceuticals and Medical Devices Agency (PMDA), have stringent requirements for medical devices, ensuring the safety and effectiveness of intravascular imaging products.

Major international companies such as Philips, Boston Scientific, and Terumo have a presence in the Japanese market. These companies are focused on providing innovative solutions to meet the specific needs of Japanese healthcare professionals.

Japan's well-developed healthcare infrastructure and advanced medical facilities contributed to the widespread adoption of intravascular imaging technologies. Access to healthcare services was generally high.

Category Wise Insights

The category wise insights section provides an analysis of the intravascular imaging market based on product type, modality and end user respectively.

By end users, intravascular imaging systems are highly sought after by hospitals. This is because a lot of vascular surgeries are performed on a daily basis. By product type, intravascular imaging instruments are expected to register high sales.

Category	CAGR from 2023 to 2033
Hospitals	5.2%
Instrument	5.7%

Increased Medical Imaging Utilization, along with a Larger Patient Base to Lead the Hospitals Segment

Based on end user, the hospitals segment is expected to continue dominating the industry with a CAGR of 5.2% from 2023 to 2033.

In 2022, the hospitals segment had the biggest market share. The healthcare facility performs more different types of intravascular imaging examinations than any other end-user.

Medical imaging technology is installed in mid to large-sized hospitals because it can be a significant source of outpatient revenues. As a result of the greater utilization rate of medical imaging, along with a broad patient base, this segment has the biggest market share.

Based on Product Type, the Instrument Segment to Dominate the Industry

The instrument segment in the Intravascular Imaging market refers to the medical devices and equipment used for intravascular imaging procedures. These instruments play a crucial role in diagnosing and treating cardiovascular diseases by providing high-resolution images of blood vessels and the inside of arteries.
These images help cardiologists and healthcare professionals assess the condition of blood vessels, identify blockages, and guide interventions. Therefore, based on product type, the instrument segment is expected to account for a huge market share over the forecast period.

Competitive Landscape

The leading players in the intravascular imaging market are aiming to increase their product presence in order to improve their sales prospects globally. Collaborations, mergers and acquisitions, and partnerships between regional and worldwide market players are also likely to promote intravascular imaging market share rise.

Some of the top key players in the intravascular imaging market include Acqiris, NIDEK CO. LTD., AGFA Healthcare, Aculight Carl Zeiss AG, Heidelberg Engineering Inc., Optopol, Sonostar Technologies Co.Ltd., OPKO Health, AlazarTech and others.

• Siemens Healthineers implemented Luminos Impulse in September 2021, a fluoroscopy technology with an innovative layout and features shared by high-end fluoroscopy systems such as a seamless imaging chain, complete dose optimization, cybersecurity features, and detector-sharing capabilities for radiography.
• Siemens Healthineers unveiled Somatom X.ceed in May 2021, a unique high-resolution, rapid speeds CT (computed tomography) scanner designed specifically for extremely demanding clinical applications where time and precision are critical.
• Avinger Inc. announced the entire business launch of their TigereyeTM image-guided chronic total occlusion (CTO) crossing system in January 2021.

Report Scope

Attribute	Details
Estimated Market Size in 2023	USD 387.8 million
Projected Market Valuation in 2033	USD 656.29 million
Value-based CAGR 2023 to 2033	5.4%
Forecast Period	2023 to 2033
Historical Data Available for	2018 to 2022
Market Analysis	Value in USD billion
Key Regions Covered	North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East & Africa
Key Market Segments Covered	Product Type, Modality, End User, Region
Key Countries Profiled	The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC countries, South Africa, Israel
Key Companies Profiled	Acqiris; NIDEK CO. LTD.; AGFA Healthcare; Aculight Carl Zeiss AG; Heidelberg Engineering Inc.; Optopol; Sonostar Technologies Co.Ltd.; OPKO Health; AlazarTech

Segmentation Analysis of the intravascular imaging Market

By Product Type:

• Instruments
• Software

By Modality:

• Handheld
• Trolley Mounted

By End User:

• Hospitals
• Diagnostic Imaging Centers
• Ambulatory Surgical Centers
• Long Term Care Centers
• Others

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• South Asia & Pacific
• East Asia
• The Middle East & Africa

Frequently Asked Questions

What is the expected worth of the intravascular imaging market in 2023?

The intravascular imaging market is expected to reach USD 387.8 million in 2023.

What is the expected CAGR for the intravascular imaging market until 2033?

The market for intravascular imaging is set to expand by a CAGR of 5.4% by 2033.

How much valuation is projected for the intravascular imaging market in 2033?

The intravascular imaging industry is forecast to reach USD 656.29 million by 2033.

Which country is likely to be at the pinnacle of the intravascular imaging market?

China is likely to be the top performing market, accounting for USD 850 million in 2033.

How much valuation is projected for the intravascular imaging market in Japan in 2033?

The intravascular imaging industry in Japan is forecast to reach USD 700 million by 2033.