Ultrasound Catheters: Introduction
- Ultrasound catheter is a catheter-based imaging technique to provide information of the coronary arteries about the amount and type of plaque buildup. It is useful in determining the risk of heart attack. Ultrasound does not use ionizing radiation, has no known harmful effects, and can provide clear pictures of soft tissues that are not visible on x-ray images. These disposable catheter costs around US$ 600 – US$ 1,000.
- Rise in demand for effective diagnostic cardiovascular imaging techniques due to increase in the incidence of chronic diseases, such as heart stroke, coronary artery disease, and myocardial infarction, is one of the high impact factors resulting in greater adoption of intravascular ultrasound (IVUS) devices
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Key Drivers and Restraints of Global Ultrasound Catheters Market
- Significant increase in the prevalence of chronic diseases, such as cardiovascular diseases, boost the market. Coronary heart disease is one of the major causes of deaths in the U.S. Coronary artery disease also weakens the heart muscles leading to heart failure and arrhythmias. According to the American Heart Association, nearly 836,546 deaths were reported in the U.S. in 2018, which is about 1 in every 3 deaths due to cardiovascular diseases. As per the American Heart Association report, in 2018, among all deaths caused by cardiovascular diseases in the U.S., coronary heart disease accounted for 43.8%.
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- Increase in geriatric population is another reason for the rise in demand for ultrasound catheters products. Majority of cardiovascular disease cases and deaths occur in people aged 65 years and above. Based on data by World health Organization, between 2015 and 2050, the proportion of the world’s population over the age of 60 years will nearly double from 12% to 22%.
- Product recalls of catheters may hamper market growth. In 2019, Visions PV .035 Digital IVUS Catheter manufactured by Volcano Corporation was recalled due to the potential inability to pass the guidewire through the y-port of the catheters
Ultrasound Catheters for Use in Peripheral to Witness High Demand
- Based on application, the global ultrasound catheters market can be segmented into peripheral and coronary
- Peripheral segment held a major share of the market in 2018. This segment is likely to grow at a high rate during the forecast period. Rise in cases of peripheral arterial disease (PAD) is expected to fuel market growth. As per an article published in the National Center for Biotechnology Information in 2018, more than 200 million people are suffering from PAD worldwide and the presence of PAD is associated with a 2-fold increase in the prevalence of heart failure.
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Hospital Segment to Grow at a Rapid Rate
- Based on end-user, the global ultrasound catheters market can be categorized into hospitals, ambulatory surgical centers, and specialty clinics
- Hospitals end-user segment dominates the global ultrasound catheters market, as a large number of procedures are performed due to the availability of technologically advanced products and reimbursement policies
- Ambulatory surgical centers segment is expected to gain market share during the forecast period. This segment is estimated to grow at a high CAGR. According to an article published in Industry Dive in 2019, CMS is proposing to add 12 cardiac catheterization procedures to its coverage list for ambulatory surgical centers (ASC). CMS also estimated that nearly 5% of cardiac catheterization procedures shifted from hospital outpatient settings to ASC as a result of the proposed policy.
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North America to Dominate Global Market for Ultrasound Catheters Market
- In terms of region, the global ultrasound catheters market can be divided into: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- In 2018, North America dominated the global market and is anticipated to maintain this trend during the forecast period. This can be attributed to the rise in prevalence of cardiovascular diseases, favorable reimbursement policies, and rapid adoption of innovative technologies. In 2019, Philips has launched a new IntraSight interventional applications platform, which offers a comprehensive platform of clinically proven instant wave-free ratio (iFR), fractional flow reserve (FFR), intravascular ultrasound (IVUS), and co-registration modalities to simplify complex interventions and speed routine procedures.
- This market in Asia Pacific region is expected to grow at a rapid CAGR during the forecast period due to continuous development of health care and pharmaceutical industries in the region. In 2019, Infraredx, a Nipro Company, received 510(k) clearance from the U.S. FDA for Makoto intravascular imaging system. Its intravascular ultrasound (IVUS) and near-infrared spectroscopy (NIRS) technology is used to identify coronary plaques for major adverse cardiac events (MACE). Rise in incidence of cardiovascular diseases is also driving market growth in the region. According to the World Health Organization (WHO), in 2017, 75% of CVD deaths occurred in low-income and middle-income economies.
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Key Manufacturers Operating in Global Market
The global ultrasound catheters market was highly fragmented in 2018. Key manufacturers operating in the global market are:
- Abbott
- Boston Scientific Corporation
- Cook
- Cardinal Health
- Medtronic
- Smiths Medical
- Terumo Corporation
- Koninklijke Philips N.V.
- Biosense Webster, Inc
- Infraredx, Inc.
- Volcano Corporation
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