Vascular Imaging Market to Reach $9.85 Billion by 2030 | Says Coherent Market Insights

Burlingame, March 12, 2024 (GLOBE NEWSWIRE) — Coherent Market Insights published a report, titled, Global Vascular Imaging Market, By Product Type (MRI system, Ultrasound system, CT scanner, Angiography system, Nuclear imaging , Others), By Indication (Varicose veins, Aneurysm, Stenosis, Deep vein thrombosis, Others), By End User (Hospital & Clinics, Diagnostic Imaging Centers, Ambulatory Surgery Centers , Others), and By Geography: Size, Share, Outlook, and Opportunity Analysis, 2023-2030. According to the report, the global vascular imaging market was valued at US$ 6.34 Bn in 2023 and is expected to reach US$ 9.85 Bn by 2030, growing at a compound annual growth rate (CAGR) of 6.5% from 2023 to 2030.

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Market Dynamics:

The Vascular Imaging market is being primarily driven by the increasing prevalence of cardiovascular diseases globally. The rising geriatric population, unhealthy lifestyle habits, and high incidence of obesity are contributing to the growing burden of cardiovascular diseases, thus increasing the demand for vascular imaging procedures. Additionally, advancements in imaging technologies, such as CT angiography and MRI, are further propelling market growth by providing more accurate and detailed images for diagnosis and treatment planning.

Global Vascular Imaging Market Report Coverage

Report Coverage Details
Market Revenue in 2023 $6.34 billion
Estimated Value by 2030 $9.85 billion
Growth Rate Poised to grow at a CAGR of 6.5%
Historical Data 2018–2021
Forecast Period 2023–2030
Forecast Units Value (USD Million/Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered By Product Type, By Indication, By End User
Geographies Covered North America, Europe, Asia Pacific, and Rest of World
Growth Drivers • Increasing geriatric population

• Increasing prevalence of cardiovascular diseases

Restraints & Challenges • Dearth of skilled professionals

Market Trends:

One of the key trends in the Vascular Imaging market is the growing adoption of minimally invasive procedures. Minimally invasive vascular imaging techniques, such as endovascular ultrasound and angioplasty, offer significant benefits over traditional open surgeries, including shorter recovery times, less pain and scarring, and lower risk of complications. This trend is expected to continue driving market growth as healthcare providers and patients increasingly prefer minimally invasive procedures for vascular imaging. Another trend shaping the market is the integration of artificial intelligence (AI) in vascular imaging. AI-driven imaging technologies are enabling more precise and efficient diagnosis and treatment planning by analyzing large amounts of imaging data quickly and accurately. This trend is revolutionizing the field of vascular imaging by improving diagnostic accuracy, reducing human error, and enhancing overall patient outcomes.

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Market Opportunities:

The global vascular imaging market is presented with a significant opportunity due to the increasing prevalence of cardiovascular diseases worldwide. Cardiovascular diseases are the leading cause of mortality globally, with millions of individuals affected by conditions such as atherosclerosis, hypertension, and heart failure. As a result, there is a growing demand for advanced imaging technologies that can accurately diagnose and monitor these conditions.

Vascular imaging techniques such as MRI, CT scanning, and angiography play a crucial role in the diagnosis and treatment of cardiovascular diseases. These imaging modalities enable healthcare providers to visualize the blood vessels and identify any abnormalities or blockages that may be causing cardiovascular issues. As the prevalence of cardiovascular diseases continues to rise, the demand for vascular imaging technologies is expected to increase significantly.

Another key market opportunity for the vascular imaging market is the ongoing technological advancements in imaging systems. Innovations in imaging technology have led to the development of more advanced and sophisticated imaging systems that offer higher resolution images, faster scanning times, and improved diagnostic accuracy.

Advancements in MRI systems, ultrasound technology, and angiography systems have enabled healthcare providers to obtain clearer and more detailed images of the vascular system, allowing for better visualization of blood flow and detection of abnormalities. These technological improvements have enhanced the capabilities of vascular imaging systems, making them indispensable tools for diagnosing and treating a wide range of vascular conditions.

Recent Developments:

On December 1, 2023, GE Healthcare, a company which offers across diagnostics, therapeutics and monitoring through intelligent devices, launched artificial intelligence (AI)-enabled MRI system at Radiological Society of America Scientific Sessions and Annual Meeting, RSNA 2023.

On November 26, 2023, Royal Philips, a health technology company, showcased the world’s first mobile MRI system with helium-free operations at RSNA23.

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Key Market Takeaways:

Vascular Imaging is anticipated to witness a CAGR of 6.5% during the forecast period 2023-2030, owing to the increasing prevalence of cardiovascular diseases and technological advancements in imaging systems.

On the basis of Product Type, the MRI system segment is expected to hold a dominant position, owing to its high resolution imaging capabilities and widespread use in cardiovascular imaging.

By Indication, the Varicose veins segment is expected to dominate the market, as varicose veins are a common vascular condition that often requires imaging for diagnosis and treatment planning.

In terms of End User, Hospitals & Clinics are expected to be the dominant segment, as these healthcare facilities are equipped with advanced imaging technologies for diagnosing and treating cardiovascular diseases.

In terms of region, North America is expected to hold a dominant position over the forecast period, due to the high prevalence of cardiovascular diseases and well-established healthcare infrastructure in the region.

Key players operating in the Vascular Imaging market include Royal Philips, GE Healthcare, Siemens Healthineers, Canon Medical Systems, Hitachi Medical, and Samsung Medison. These key players are focusing on technological innovations and strategic partnerships to strengthen their market presence and expand their product offerings in the vascular imaging market.

Read complete market research report, ” Global Vascular Imaging Market, By Product Type, By Indication, By End User, By Geography, Market Size And Share Analysis – Growth Trends And Forecasts 2023-2030“, Published by Coherent Market Insights.

Market Segmentation:

By Product Type:

  • MRI system
  • Ultrasound system
  • CT scanner
  • Angiography system
  • Nuclear imaging
  • Others

By Indication:

  • Varicose veins
  • Aneurysm
  • Stenosis
  • Deep vein thrombosis
  • Others

By End User:

  • Hospital & Clinics
  • Diagnostic Imaging Centers
  • Ambulatory Surgery Centers
  • Others

By Region:

  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa
    • South Africa
    • GCC Countries
    • Rest of Middle East & Africa

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