Intracardiac Echocardiography: Market Insights
Intracardiac Echocardiography is one of the powerful imaging modality which is being used in the interventional laboratory globally. Intracardiac echocardiography imaging is carried out using a miniaturized ultrasound transducer which is mounted on the tip of a percutaneously placed catheter. Interventional cardiologists are nowadays using intracardiac echocardiography imagining devices which have become commonly available to evaluate the epicardial coronary arteries. These intracardiac echocardiography imagining devices are used before and after the intervention as it utilizes lower frequency transducers (5–10 MHz), producing high-resolution images which are capable of producing enhanced tissue penetration (up to 12 cm).
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Intracardiac Echocardiography: Market Dynamics
Intracardiac echocardiography is one of the increasingly imaging technology which is being used to guide percutaneous interventional procedures. These are being widely used for the treatment of interatrial septal abnormalities and also aid in electrophysiological procedures. Furthermore these imaging devices are also being used for finding intracardiac structures, which is thus used in other procedures like myocardial biopsy and paravalvular leak closure. The main drivers of intracardiac echocardiography over transoesophageal echocardiography is the treatment of atrial septal defects that eliminates the need of general anesthesia. Additionally, they also produce images which are clear and crisp, with shorter procedure time, reduced hospital stays and radiation doses. One of the primary restraint of intracardiac echocardiography market is the additional catheter cost, which can be negated by improvising turnaround times and reducing personnel costs. However, the intracardiac echocardiography market is expected to show promising growth due to increasing prevalence of cardiovascular diseases, geriatric population, and use of advanced technologies used in interventional cardiology. Additionally, accuracy and efficiency of the intracardiac echocardiography is one of the primary factor in the growth of the market. Portability and compactness of the intracardiac echocardiography is anticipated to drive the market revenue of the intracardiac echocardiography market. Increase in number of minimally invasive cardiac procedures and high adoption rate of intracardiac echocardiography are also factors that is anticipated to boost the market growth. However, lack of awareness regarding the intracardiac echocardiography imaging devices and inadequate reimbursement may hamper the growth of the intracardiac echocardiography market during the forecast period.
The global intracardiac echocardiography market currently is one of the rapidly growing markets, and is expected to show tremendous opportunities in the forecasted period. The cardiac devices industry is also showing significant growth due to various factors which includes high incidence rate of cardiac diseases and minimal invasive nature of intracardiac echocardiography. Several intracardiac echocardiography manufacturers have products in pipeline and also investing in the innovation of the product, which will further fuel the growth of the intracardiac echocardiography market.
Intracardiac Echocardiography Market: Overview
The global intracardiac echocardiography market is segmented by product type and geography. Based on the product type, the global intracardiac echocardiography market is segmented into Portable Intracardiac echocardiography, Standalone Intracardiac echocardiography, and Others. Portable intracardiac echocardiography will dominate the intracardiac echocardiography market due to its effectiveness over other product types. Based on the End-user, the market for global intracardiac echocardiography market is segmented into the hospital, Ambulatory Surgical Center and Specialty Clinics.
Intracardiac Echocardiography Market: Region-wise Outlook
On the basis of regional presence, global intracardiac echocardiography market is segmented into five key regions viz. North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa. North America is anticipated to dominate the intracardiac echocardiography market due to new product innovations, and awareness of product by organizing medical conferences. Europe is expected to be the second largest market for intracardiac echocardiography market due to high end funding and support for innovative and development activities, also focus on having high consolidation and large research base. Both East and South Asian market is also expected to grow at a higher growth rate owing to change in lifestyle, increase population growth, increase in healthcare spending, and tremendous growth in research and development. These factors are likely to drive the market growth of the intracardiac echocardiography market during the forecast period globally.
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Intracardiac Echocardiography Market: Key Players
Some of the key players present in global Intracardiac Echocardiography market include Abbott oston Scientific Corporation, Koninklijke Philips N.V., Infraredx™, Inc. Kaixin and others.