Intracardiac Echocardiography (ICE) and Intravascular Ultrasound (IVUS) Market Size By Application (Electrophysiology Procedures, Left Atrial Appendage Closure, Septal Defects), By End-use (Hospitals, Catheterization Laboratories), COVID-19 Impact Analysi

Intracardiac Echocardiography (ICE) and Intravascular Ultrasound (IVUS) Market Size By Application (Electrophysiology Procedures, Left Atrial Appendage Closure, Septal Defects), By End-use (Hospitals, Catheterization Laboratories), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021 - 2027

The intracardiac echocardiography (ICE) and intravascular ultrasound (IVUS) market is projected to witness robust growth by 2027 owing to burgeoning demand for medical imaging across the globe. Additionally, growing prevalence of chronic illnesses is slated to further propel market expansion over the forecast timeline.

Intracardiac echocardiography (ICE) refers to an imaging technique that provides high-resolution and real-time visualization of cardiac structures, enables continuous monitoring of catheter inside the heart, and allows early detection of procedural complications like thrombus formation or pericardial effusion. Notably, latest technological advancements in the method have impelled the research focus on its applications, which has positively impacted industry outlook in key regions worldwide.

For instance, in August 2021, a 2021 Heart Rhythm Society (HRS) late-breaking study examined the use of the Biosense Webster’s NuVision ICE catheter in EP procedures. The findings from the first-in-human research study indicated excellent procedural and diagnostic guidance value of the novel 3D/4D ICE imaging catheter in cryo-ablation and radio frequency ablation procedures, as well as in left atrial appendage occlusion procedures.

The intracardiac echocardiography (ICE) and intravascular ultrasound (IVUS) market has been categorized on the basis of application, end-use, and region. With respect to application, the market has further been segregated into electrophysiology procedures, septal defects, left atrial appendage closure, and others.

For comprehensive assessment, the intracardiac echocardiography (ICE) and intravascular ultrasound (IVUS) market from the others application segment is estimated to grow at a notable CAGR through the projected timeframe. Prominent demand for advanced imaging modalities in minimally invasive techniques, including transcatheter valve replacement, is set to support segmental growth in the coming years. In addition, surging product adoption to lower procedural complications with superior visualization of complex peripheral and coronary structures is likely to further stimulate segmental revenue growth over the analysis period.

In terms of end-use, the intracardiac echocardiography (ICE) and intravascular ultrasound (IVUS) market has been segregated into catheterization laboratories, hospitals, and others. In 2020, the others end-use segment was valued at around USD 95 million and is anticipated to grow at a substantial pace over 2021-2027. Expansion of specialty facilities, such as ablation centers and cardiac centers, which provide diagnosis and treatment for a range of complex structural diseases is speculated to drive product demand through the forthcoming years.

In the regional landscape, the Middle East & Africa intracardiac echocardiography (ICE) and intravascular ultrasound (IVUS) market is calculated to amass profitable gains by 2027, progressing at a CAGR of more than 3.9% over the forecast period. Escalating disease burden, coupled with the rising need for advanced diagnostic imaging products, is foreseen to boost product uptake in the region through the following years. Moreover, increasing focus on expanding the healthcare infrastructure is expected to create massive growth potential for the industry across MEA.