Intracardiac Echocardiography and Intravascular Ultrasound Market Analysis

Based on application segment, the intracardiac echocardiography and intravascular ultrasound market is segmented into electrophysiology procedures, left atrial appendage closure, septal defects and others. The septal defects segment surpassed USD 45 million in 2021. Product innovations and proven efficacy of novel devices is influencing the adoption of ICE technology as alternative to conventional technology i.e., transoesophageal echocardiography used to treat septal defect disorders. Moreover, ventricular septal defects and atrial septal defects are congenital disorders that might cause problems in the future. With advanced echocardiography using the ICE systems, treatment and visibility of septal structure can be improved. Thus, with continuous developments providing the ease in procedure, the segment will hold significant market share in coming years.

The intracardiac echocardiography and intravascular ultrasound market based on end-use is segregated into hospitals, catherization laboratories, and others. The catherization laboratories segment held around 20% revenue share in 2021. Improving healthcare infrastructure and spending on expansion of cardiac catheterization laboratories in developing countries is estimated to stimulate the segmental growth rate. Additionally, penetration of market players with advanced ICE and IVUS devices in developed countries along with spending on cutting-edge technologies will augment the product adoption rate in facilities.

North America was accounted for nearly 30% share of overall ICE and IVUS revenue in 2021. Rapid adoption of efficient imaging modalities in catheterization laboratories and faster expansion of specialty cardiac centers are expected to impel the regional market outlook. Moreover, increasing prevalence of cardiac rhythm disorders with preference for minimally invasive procedures is projected to enhance the regional industry statistics. As per the data published by the American College of Cardiology in 2021, each year peripheral artery disease (PAD) affects more than 8.5 million individuals in America. Hence, larger patient population benefits the adoption of ICE and IVUS in North America region during the forecast period.