Intravascular Ultrasound Market is anticipated to exhibit lucrative growth over the forecast period as a consequence of rising prevalence of chronic diseases like coronary artery disease and myocardial infection.
Benefits associated with intravascular ultrasound over conventional methods include quick recovery rates, reduced span of hospitalization, and lesser post-operative complications and these are anticipated to induce demand in the industry over the forecast period. Rising geriatric population is also expected to propel the demand of cardiovascular ultrasound replacement over spinal fusion. According to the survey conducted by Agency for Healthcare Research and Quality, in 2011, 102.4 million people in the U.S. were suffering from degenerative disc diseases, of which 25.11 million were aged 65 or older.
North America is a major market for this market. Major growth contributing factors include large number of industry players operating in the region and favorable reimbursement framework. Moreover, rising geriatric population coupled with sophisticated healthcare infrastructure is responsible for the overall industry growth in this region. Furthermore, increasing health awareness is also driving the market demand.
Asia Pacific region is expected to exhibit lucrative growth over the forecast period attributing to improvised healthcare infrastructure, rising disposable income, and investments from global market players. New entrants in the industry owing to presence of untapped opportunities are also expected to propel the growth potential over the coming years.
Major players of this industry include Boston Scientific, Volcano Therapeutics, GE, Philips, Siemens and Toshiba. These market players are involved in employing strategies such as collaborations with small entities in this sector and mergers & acquisitions. Moreover, high investment in R&D, incorporation of new technology and expansion of product portfolio are anticipated to drive market over the forecast period.
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