The market growth in this region is ascribed to the rising prevalence of coronary disorders and an increase in the geriatric population. However, product recalls restrict the market growth.
Canada and Mexico are considerably modernizing their 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. According to the data by the WHO, in February 2018, the aging population is estimated to rise to 22% by 2050 from 12% in 2015. Furthermore, the US Census Bureau states in a report that the number of people in the US with age 65 and above is anticipated to grow from 46 million in 2016 to more than 98 million by 2060. Their population share would increase from ~15% to ~24% during this period. Moreover, underdeveloped and developing countries would account for ~80% of this growth.
In the 2019 Heart Disease and Stroke Statistical Update by the American Heart Association, Inc. (AHA), the incidence of cardiovascular disease (CVDs) was reported to be 77.2% in males and 78.2% in females of age 60–79. Furthermore, the incidence was reported to be 89.3% in males and 91.8% in females with age 80 and above. 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).
In North America, the COVID-19 pandemic highly impacted the major countries in the initial stages, i.e., during the first wave. In the US, due to increasing number of infected patients and lethal coronavirus variants, the diagnostic and imaging activities came to halt for an extended period during. This led to delay or cancellation of the overall diagnosis of cardiovascular diseases (CVDs) with IVUS in North America. COVID-19 has a potential economic impact on most sectors including, PCI procedures through intravascular ultrasound. The pandemic has also hindered the schedules of cardiovascular diagnosis and surgeries. In 2020, the Center for Disease Control and Prevention (CDC) reported that the medical care for ~41% of adults in the US was delayed or avoided in the year, including a 12% delay in urgent or emergency care and a 32% delay in routine care. According to the report, avoidance of urgent or emergency care was more prevalent among unpaid caregivers. As a result, more cases of advanced cardiovascular diseases are expected in coming years due to delayed diagnosis. The intravascular ultrasound (IVUS) devices market in the US is expected to witness modest growth driven by an aging population, increase in health risk factors such as poor lifestyle, and the adoption of new technologies due to favorable regulatory changes. However, the overall market expansion will be hindered by a saturated installed base of large imaging systems and the consolidation of hospitals.
NORTH AMERICA INTRAVASCULAR ULTRASOUND (IVUS) DEVICES MARKET SEGMENTATION
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 220.87 Million |
| Market Size by 2028 | US$ 370.49 Million |
| CAGR (2021 - 2028) | 7.7% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Modality
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Intravascular Ultrasound (IVUS) Devices Market is valued at US$ 220.87 Million in 2021, it is projected to reach US$ 370.49 Million by 2028.
As per our report North America Intravascular Ultrasound (IVUS) Devices Market, the market size is valued at US$ 220.87 Million in 2021, projecting it to reach US$ 370.49 Million by 2028. This translates to a CAGR of approximately 7.7% during the forecast period.
The North America Intravascular Ultrasound (IVUS) Devices Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Intravascular Ultrasound (IVUS) Devices Market report:
The North America Intravascular Ultrasound (IVUS) Devices Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
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Essentially, anyone involved in or considering involvement in the North America Intravascular Ultrasound (IVUS) Devices Market value chain can benefit from the information contained in a comprehensive market report.
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