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Intravascular ultrasound market to increase to USD 3.53 billion by 2025

The global intravascular ultrasound (IVUS) market size is expected to reach USD 3.53 billion by 2025 from USD 1.98 billion in 2017, growing at a CAGR of 7.6 percent, according to Grand View Research. Rising investments in the MedTech industry, increasing R&D activities, and surge in product launches are key factors driving the market. Emerging economies have been offering new investment avenues to global market players. Developing healthcare infrastructure and increasing patient pool are driving the demand for advanced medical devices in these countries. Point of contact (POC) ultrasound is used for diagnostic procedures generally involving portable ultrasound devices. It is relatively cheaper and can be widely used in patient care. IVUS ultrasound is one such device, which is smaller and can be used to detect abnormalities in the vascular system. Some of the key players in this market are Koninklijke Philips, GE Healthcare, Hitachi, Fujifilm Medical Systems, Boston Scientific Corporation, Siemens Healthineers, and Canon Medical Systems Corporation. In June 2017, GE Healthcare and Heartflow announced a partnership for the diagnosis and treatment of coronary artery disease.

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