Report : Middle East and Africa Intravascular Ultrasound (IVUS) Devices Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Modality (Virtual Histology IVUS, iMap IVUS, and Integrated Backscatter IVUS), Product (Equipment, and Accessories [Catheters, Guidewires, and Others]), and End User (Hospitals and Clinics, Diagnostic Centers, and Academic and Research Institutes)
The accessories segment by product is estimated to lead the market growth during the forecast period.
According to a new market research study of “Middle East and Africa Intravascular Ultrasound (IVUS) Devices Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Modality, Product, End User and Country.” The Middle East and Africa intravascular ultrasound devices (IVUS) market is expected to reach US$ 44.42 million by 2028 from an estimated value of US$ 28.05 million in 2021; it is estimated to grow at a CAGR of 6.8% from 2021 to 2028. The report highlights trends prevailing in the Middle East and Africa intravascular ultrasound devices market and the factors driving market along with those that act as hindrances.
The intravascular ultrasound devices market is characterized by the presence of big and small companies. To increase their market share, market players are taking up various strategies, such as new product launches, regional expansion, and technological advancements. Safer and more effective intravascular ultrasound devices are being launched with continued innovation and technological advances, leading to increased acceptance of these devices. Leading players are investing in R&D to develop advanced technologies and gain more revenue share. For Instance, in September 2021, Siemens introduced Luminos Impulse, a fluoroscopy system with a novel design and characteristics shared by high-end fluoroscopy systems, including a smooth imaging chain, exhaustive dose enhancement, cybersecurity characteristics, and detector-sharing possibilities radiography. Similarly, in May 2021, Siemens introduced Somatom X.ceed, a novel high-resolution, high-speed computed tomography (CT) scanner engineered particularly for the most demanding clinical areas, wherein time and accuracy are of significance. The active participation of market players in product innovation and development, and a rise in product approvals are likely to fuel the growth of Middle East and Africa the intravascular ultrasound devices market.
Various developing economies in the world, including Saudi Arabia and South Africa, are modernizing healthcare facilities and services. As a result, the life expectancy of people in these countries has increased, leading to the growth in their geriatric population base. Age is a prominent risk factor in the development of CVDs. Heart’s physiological aging, and increased oxidative stress and inflammation are the major factors causing the onset and manifestation of CVDs. Thus, a rise in the elderly population underlines the demand for intravascular ultrasound devices (IVUS).
The Middle East and Africa intravascular ultrasound device market based on the application was segmented into virtual histology IVUS, iMap IVUS, and integrated backscatter IVUS. The Middle East and Africa intravascular ultrasound device market, based on product is segmented into equipment and accessories. The accessories segment is further sub-segmented into catheters, guidewires, and others. Geographically, the Middle East and Africa intravascular ultrasound device market is sub-segmented into UAE, Saudi Arabia, South Africa and Rest of MEA.
Koninklijke Philips N.V, GE Healthcare, Siemens AG, Boston Scientific Corporation, Infraredx, Inc., Terumo Corporation, Conavi Medical Inc., Canon Medical Systems, and Abbott are among the leading companies operating in the Middle East and Africa intravascular ultrasound device market.
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