Categories: Healthcare

Vascular Imaging Devices Market Key Drivers, Trends, Growth, Outlook 2024-2033

The Vascular Imaging Devices Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Vascular Imaging Devices Global Market Report 2024, The vascular imaging devices market size has grown strongly in recent years. It will grow from $7.57 billion in 2023 to $8 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to the increasing prevalence of cardiovascular diseases, growing aging populations globally rise in diabetes and obesity rates, research in vascular diseases and treatments, patient awareness and demand, and increasing focus on cost-effectiveness and efficiency.

The vascular imaging devices market size is expected to see strong growth in the next few years. It will grow to $10.02 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to higher resolution, faster processing speeds, and improved image quality adoption of ai, machine learning algorithms, healthcare cost containment, and reimbursement policies. Major trends in the forecast period include advancement in imaging resolution, innovative angiography systems, adoption of AI algorithms, 3D and 4D imaging, and incorporation of wireless technology.

The increasing prevalence of diabetes and hypertension is expected to drive the demand for vascular imaging devices. Diabetes is a long-term illness where the body fails to produce or use insulin properly. Hypertension is a condition in which blood pressure in the arteries is abnormally high. The cases of diabetes and hypertension are driven by higher obesity levels, inactive lifestyles, unhealthy diets, and an older population. Vascular imaging devices assist in diagnosing and tracking diabetes and hypertension by offering clear images of blood vessels, which helps evaluate the effects of these conditions and manage treatment. For instance, in August 2022, according to a report published by the American College of Cardiology, a US-based non-profit medical association, in the United States, all four cardiovascular risk factors are expected to rise in the general U.S. population between 2025 and 2060, with diabetes increasing the most (39.3% to 55 million), followed by dyslipidemia (27.6% to 126 million), hypertension (25.1% to 162 million), and obesity(18.3% to 126 million). Therefore, the increasing prevalence of diabetes and hypertension is driving the growth of the vascular imaging device market.

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The vascular imaging devices market covered in this report is segmented –

1) By Type: Minimally Invasive, Non-Invasive

2) By Application: Diagnostics, Therapeutics

3) By End-User: Hospitals, Diagnostic Imaging Centers, Other End Users

Major companies operating in the vascular imaging devices market are focusing on introducing solutions that utilize advanced technologies, such as wireless handheld ultrasound devices, to improve diagnostic accuracy, enhance patient comfort, and streamline workflow in clinical settings. Wireless handheld ultrasound devices are small, portable tools used for medical imaging that transmit images wirelessly, eliminating the need for cables and allowing for convenient and flexible scanning. For instance, in August 2023, GE Healthcare, a US-based medical technology company, launched Vscan Air SL. It is a portable, wireless ultrasound device designed for quick cardiac and vascular evaluations at the point of care. This new addition to the Vscan series boasts GE HealthCare’s SignalMax and XDclear technology, offering exceptional imaging penetration, resolution, and sensitivity enhanced by advanced single-crystal transducer technology.

The vascular imaging devices market report table of contents includes: