Coronary Intravascular Lithotripsy Market Forecasted at US$ 592.2 Million by 2033

The coronary intravascular lithotripsy market is anticipated to reach US$ 343.3 million in 2023. By 2033, the market is anticipated to reach US$ 592.2 million, growing at a 6.2% CAGR over that time. Future growth of the coronary IVL market is dependent on a number of factors, including technological advancements, clinical results, regulatory approvals, and market dynamics. Coronary calcification is linked to unfavourable outcomes and hinders the delivery and expansion of stents. Because intravascular lithotripsy (IVL) uses acoustic pressure waves to modify calcium, enhance vessel compliance, and improve stent placement, the market will grow.

IVL technological breakthroughs, such as improvements in catheter design, lithotripsy mechanisms, and imaging integration, are improving the procedure's effectiveness and safety. These advances have the potential to attract additional physicians and contribute to market growth.

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Coronary IVL is now utilized mostly for calcified coronary artery lesions. However, continuing studies and clinical trials are looking at its use in other areas, such as peripheral artery disease and other complex diseases. If the results of these research are favorable, it may lead to market expansion. Moreover, as more businesses enter the market and create their own IVL systems, the coronary IVL industry is projected to grow more competitive. This rivalry has the potential to spur innovation, reduce costs, and increase market penetration.

Key Takeaways:

The coronary intravascular lithotripsy industry in the United States is predicted to reach US$ 206.6 million by 2033, increasing at a 6.6% CAGR.
The coronary intravascular lithotripsy industry in the United Kingdom is estimated to reach a market value of US$ 28.0 million, expanding at a CAGR of 6.1% by 2033.
During the forecast period, the coronary intravascular lithotripsy industry in China is expected to reach a market value of US$ 48.4 million, securing an 8.8% CAGR.
The coronary intravascular lithotripsy industry in Japan is predicted to reach US$ 21.9 million by 2033, increasing at a 6.4% CAGR.
South Korea's coronary intravascular lithotripsy industry is predicted to achieve a market value of US$ 7.2 million, rising at a 5.9% CAGR during the forecast period.
With a CAGR of 7.3% from 2023 to 2033, the hospital is expected to dominate the coronary intravascular lithotripsy industry.

How Does the Competition Look in the Coronary Intravascular Lithotripsy Market?

The market for coronary intravascular lithotripsy is quite competitive, with numerous companies vying for market share. Several significant participants in this industry comprise Shockwave Medical, Inc., among other companies.

The main corporations are investing extensively in R&D projects to develop inventive and creative products with improved reliability, efficacy, and cost. In order to meet changing consumer expectations, they are also concentrating on extending their product portfolio and bolstering their distribution strategies.

Industry-wide, tactical alliances and partnerships with other businesses are more frequent, enabling parties to capitalize on one another's advantages and increase their market power.

Leading companies employ mergers and consolidation to expand into new markets and improve their market share. In emerging markets, particularly in China and India, the sector is rapidly growing.

To boost their presence in these regions, major companies are expanding their distribution networks and building regional manufacturing sites. They are also concentrating on offering cost-effective solutions to customers in these markets in order to get a competitive advantage.

Key Players:

Shockwave Medical, Inc.

Key Developments:

On February 12, 2021, the USA FDA approved two Intravascular Lithotripsy (IVL) Systems- Shockwave Intravascular Lithotripsy (IVL) System and Shockwave C2 Coronary Intravascular Lithotripsy (IVL) Catheter, according to Shockwave Medical, Inc.

Segmentation Analysis of the Coronary Intravascular Lithotripsy Market

By Distribution Channel: