Vascular Imaging - Market Insights, Competitive Landscape, and Market Forecast - 2030

Vascular Imaging - Market Insights, Competitive Landscape, and Market Forecast - 2030

Vascular Imaging Devices Market by Type (Minimally Invasive [Catheter Angiogram, CT Angiography [CTA], Lymphoscintigraphy, Venogram, Intravascular Ultrasound], Non-Invasive [Abdominal Ultrasound, Angiography, Ankle-Brachial Index [ABI], Captopril Renal Scan, Magnetic Resonance Angiography [MRA], Magnetic Resonance Imaging [MRI], Carotid Duplex Ultrasound, CT Scan, Doppler Ultrasound, Duplex Ultrasound), Application (Diagnostics and Therapeutics), End-User (Hospitals, Diagnostic Imaging Centers, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World) is expected to grow at a steady CAGR Forecast till 2030 owing to rising technological advancement and increasing prevalence of Vascular-Related Diseases

Vascular Imaging Devices Market was valued at USD 8.12 billion in 2023, growing at a CAGR of 5.45% during the forecast period from 2024 to 2030, to reach USD 11.12 billion by 2030. The demand for Vascular Imaging Devices is primarily motivated by the prevalence of a vast number of patients suffering from vascular-related diseases like hypertension, arrhythmias, and diabetes. Moreover, technological advancements and requirements of these devices for proper surgical planning and long-term disease management will eventually boost the market growth. The fact that Vascular Imaging is usually a non-invasive procedure is also escalating the growth of the market.

Vascular Imaging Devices Market Dynamics:

Vascular Imaging Devices are used in diagnosing vascular-related diseases by viewing vascular tissues. The increasing prevalence of diabetes and hypertension are responsible to drive the growth of the Vascular Imaging Devices market. Also, due to the technological advancements the devices are non-invasive and are used by several radiologists to identify vascular anatomy. Based on data from NHANES (National Health and Nutrition Examination Survey; 2013–2016), an estimated 26 million adults have been diagnosed with diabetes, 9.4 million adults (3.7%) have undiagnosed diabetes, and 91.8 million adults (37.6%) have prediabetes.

As per American Heart Association, 2022, the incidence of end-stage kidney disease in the United States is projected to increase 11% to 18% through 2030. This will eventually lead to more prevalence of renal diseases and it will further boost the Global Vascular Imaging Devices market growth. Thus, all these factors are projected to drive the growth of the market for Vascular Imaging Devices.

Certain factors such as the very high cost of the equipment and the requirement of skilled and trained professionals for operating pose a major hurdle for the growth of the Vascular Imaging Devices market

Vascular Imaging Devices Market Segment Analysis:

Vascular Imaging Devices by Type (Minimally Invasive [Catheter Angiogram, CT Angiography [CTA], Lymphoscintigraphy, Venogram, Intravascular Ultrasound], Non-Invasive [Abdominal Ultrasound, Angiography, Ankle-Brachial Index [ABI], Captopril Renal Scan, Magnetic Resonance Angiography [MRA], Magnetic Resonance Imaging [MRI], Carotid Duplex Ultrasound, CT Scan, Doppler Ultrasound, Duplex Ultrasound), Application (Diagnostics and Therapeutics), End-User (Hospitals, Diagnostic Imaging Centers, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

Vascular Imaging Devices market type segment, non-invasive devices are expected to hold the largest share in the market as it is an important tool in the clinical assessment of patients, with a variety of vascular-related conditions. It allows the detection of changes in blood flow and rhythm, and it is essential in the detection of life-threatening arrhythmias. There are various types of non-invasive devices available in the Vascular Imaging Devices market, such as Abdominal Ultrasound, Angiography, Captopril Renal Scan, MRA, MRI, Carotid Duplex Ultrasound, CT Scan, Doppler Ultrasound, Duplex Ultrasound, among others.

The Vascular Imaging Devices market is driven by the factors such as the increase in the prevalence of heart disease, like stroke, and a growing aging population who are very susceptible to coronary heart disease, technological developments in vascular imaging devices that minimize the chances of further infection, and improved efficiency of devices. In August 2022, The US Food and Drug Administration (FDA) has cleared Abbott's latest optical coherence tomography (OCT) imaging platform powered by the company's new Ultreon Software. It combines OCT with artificial intelligence (AI) to provide physicians an enhanced, comprehensive view of coronary blood flow and blockages to assist physician decision-making in the cath lab and provide the best pathway for treatment.

Additionally, assistance from government bodies, in equipping new/existing hospitals and healthcare centers in rural regions, is expected to enhance the market potential in several countries. Hence, all the above-mentioned factors are expected to drive the segment growth.

North America is expected to dominate the overall Vascular Imaging Devices Market:

North America is expected to dominate the overall Vascular Imaging Devices market during the forecast period. This domination is due to the growing demand for advanced technologies in these devices, the increasing vascular diseases in the region are driving the regional growth. Additionally, high capital expenditure like building super-specialty Hospitals and Surgical centers is expected to boost the Vascular Imaging Devices market growth.

Further, In the United States, according to the Centers for Disease Control and Prevention (CDC), in 2020, approximately 6.5 million people age 40 and older have PAD, which in turn, will increase the demand for Vascular Imaging devices. This situation is giving rise to a critical need for Vascular Imaging devices for the diagnosis, prevention, and treatment of the disease.

Europe and Asia-Pacific region have the future potential growth for the Vascular Imaging Devices. This is due to the fact that many key players are now available in these regions. In all countries, vascular-related illness rates have been increasing. Several reports have been released annually, mentioning that significant portions of the population in the European Union and the United States (including in the developed market) suffer through more than one chronic disorder, such as hypertension, arrhythmias, diabetes, for a prolonged period, thus there is an enormous potential for Vascular Imaging Devices market growth.

Vascular Imaging Devices Market Key Players:

Some of the key market players operating in the Vascular Imaging Devices market include Siemens Healthineers, GE Healthcare, Toshiba Medical Systems Corporation, Hitachi Medical Corporation, Samsung Medison, Shimadzu Corporation, St. Jude Medical, Inc., TERUMO Corporation, Koninklijke Philips N.V., Hologic, Inc., Esaote SpA, Carestream Health, Inc. and others.

Recent Developmental Activities in the Vascular Imaging Devices Market:

In August 2022, Abbott Laboratories received the US Food and Drug Administration (FDA) go-ahead for its latest optical coherence tomography (OCT) imaging platform, powered by the company's new Ultreon Software. The Ultreon Software is first-of-its-kind imaging software that combines OCT with artificial intelligence (AI). The United States’ clearance for the OCT imaging platform closely follows the attainment of CE Mark for the same in Europe.

In August 2022, Pulse Medical Imaging Technology (Shanghai) Co. Ltd. has raised more than USD 100 million in a Series C funding round to accelerate the R&D, clinical trials, and commercialization of its products. Pulse plans to use the funds to accelerate the commercialization of its fractional flow reserve (FFR) estimating systems. FFR is a method to measure blood pressure and flow within a coronary artery to check on the possibility that the stenosis impedes oxygen delivery to the heart muscle.

In August 2022, Trivitron has recently launched SonoRad V60 Ultrasound, devoted to delivering excellent imaging systems and exceptional image quality.

Key Takes Away from the Vascular Imaging Devices Market Report Study

Market size analysis for current market size (2023), and market forecast for 6 years (2024 to 2030)

Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years

Key companies dominating the Vascular Imaging Devices Market.

Various opportunities are available for the other competitor in the Vascular Imaging Devices Market space.

What are the top-performing segments in 2023? How these segments will perform in 2030.

Which are the top-performing regions and countries in the current market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for Vascular Imaging Devices market growth in the coming future?

Target Audience who can be benefited from this Vascular Imaging Devices Market Ket Report Study

Vascular Imaging Devices providers

Research organizations and consulting companies

Vascular Imaging Devices related organization, association, forum, and other alliances

Government and corporate offices

Start-up companies, venture capitalists, and private equity firms

Distributors and Traders in Vascular Imaging Devices

Various End-users want to know more about the Vascular Imaging Devices Market and the latest technological developments in the Vascular Imaging Devices market.

Frequently Asked Questions for Vascular Imaging Devices Market:

1. What are Vascular Imaging Devices?

Vascular imaging devices are used in diagnosing vascular-related diseases by viewing vascular tissues. The increasing prevalence of diabetes and hypertension are responsible to drive the growth of the market. Also, due to the technological advancements the devices are non-invasive and are used by several radiologists to identify vascular anatomy.

2. What is the market for Vascular Imaging Devices?

Vascular Imaging Devices Market was valued at USD 8.12 billion in 2023, growing at a CAGR of 5.45% during the forecast period from 2024 to 2030, to reach USD 11.12 billion by 2030.

3. What are the drivers for Vascular Imaging Devices?

The major drivers driving the demand for Vascular Imaging Devices are the prevalence of a vast number of patients suffering from vascular-related diseases like hypertension, arrhythmias, and diabetes, additionally, vascular imaging devices were found to be extremely beneficial in COVID-19 cases in the pandemic situation.

4. What are the key players operating in Vascular Imaging Devices?

Some of the key market players operating in the Vascular Imaging Devices market include Siemens Healthineers, GE Healthcare, Toshiba Medical Systems Corporation, Hitachi Medical Corporation, Samsung Medison, Shimadzu Corporation, St. Jude Medical, Inc., TERUMO Corporation, Koninklijke Philips N.V., Hologic, Inc., Esaote SpA, Carestream Health, Inc. and others.

5. What regions have the highest share in the Vascular Imaging Devices market?

North America is expected to dominate the overall Vascular Imaging Devices market during the forecast period, 2024 to 2030. This domination is due to the growing demand for advanced technologies in these devices, the increasing vascular diseases in the region are driving the regional growth. Additionally, high capital expenditure like building super-specialty Hospitals and Surgical centers is expected to boost the market growth.