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Intracardiac Echocardiography (ICE) Market: Introduction

  • ICE is a form of echocardiography that is carried out using catheters. ICE gathers images from inside the heart, rather than by sending sound waves through the chest wall.
  • An echo transducer is attached to the tip of the ICE catheter, through which the image is captured

Expansion in Emerging Economies in Asia Pacific and Latin America to Create Opportunities for Intracardiac Echocardiography (ICE) Market

  • Emerging economies are a major target for expansion of the intracardiac echocardiography (ICE) market due to rapid increase in health care infrastructure in these economies
  • Advanced cardiovascular surgery techniques have substantial penetration rate in developed economies. However, emerging economies in Asia and Latin America have low adoption rate due to lack of awareness and dearth of expert cardiologists in these regions.
  • Economic development, rise in disposable income of patients, and increase in awareness about cardiovascular disorders in Asia and Latin America are gradually encouraging major players to expand their business in these regions. Similarly, rise in incidence rate of cardiovascular diseases and increase in geriatric population are expected to propel the intracardiac echocardiography (ICE) market in these regions.

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Key Drivers and Restraints of Global Intracardiac Echocardiography (ICE) Market

  • The intracardiac echocardiography (ICE) market is anticipated to expand significantly in the near future due to the rise in prevalence of cardiac diseases, increase in health care expenditure, and technological advancements
  • Growth in adoption of ablation techniques, especially for the diagnosis of atrial fibrillation, is also anticipated to boost the intracardiac echocardiography (ICE) market during the forecast period
  • On the other hand, strict regulatory approvals, high cost associated with devices, and availability of less number of skilled professionals are some of the challenges faced by the intracardiac echocardiography (ICE) market

High Demand for ICE in Adult Age Group Segment

  • Based on age group, the global intracardiac echocardiography (ICE) market can be divided into adult, pediatric, and neonatal
  • The adult segment is expected to dominate the market during the forecast period, owing to high prevalence of cardiovascular diseases among adults

Electrophysiology Application Segment Offers Significant Growth Potential

  • Based on application, the global intracardiac echocardiography (ICE) market can be segregated into electrophysiology, left atrial appendage closure, closure of paravalvular leak, transcatheter aortic valve implantation, mitraclip implantation and mitral valvuloplasty, and others
  • Increase in incidence of cardiac arrhythmias, aging population, and rise in blood pressure are boosting the demand for electrophysiology, thereby driving the market

Hospitals End-user Segment to Dominate Intracardiac Echocardiography (ICE) Market

  • Based on end-user, the global intracardiac echocardiography (ICE) market can be segmented into hospitals, clinics, diagnostic centers, and others
  • Growth of the hospital segment can be ascribed to increase in usage of ICE due to the rise in number of hospitalized patients owing to increase in the prevalence of cardiac diseases

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North America to Lead Global Intracardiac Echocardiography (ICE) Market

  • In terms of region, the global intracardiac echocardiography (ICE) market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • North America is projected to account for major share of the global intracardiac echocardiography (ICE) market during the forecast period, owing to the presence of major manufacturers of ICE and increase in focus on development of technologically advanced devices and software in the region. Growth of the market in North America can also be ascribed to high rate of acceptance of new technology, rise in awareness about cardiovascular diseases, and increase in health care infrastructure. Furthermore, growth in research activities and mergers & acquisitions are major drivers of the market in North America.

Key Manufacturers Operating in Intracardiac Echocardiography (ICE) Market

The global intracardiac echocardiography (ICE) market was highly fragmented in 2018. Key manufacturers operating in the global market are:

  • Abbott
  • Boston Scientific Corporation
  • Koninklijke Philips N.V
  • Infraredx, Inc
  • Medtronic
  • Cardinal Health
  • Terumo Medical Corporation
  • B. Braun Melsungen AG
  • Johnson & Johnson
  • C. R. Bard, Inc.

Global Intracardiac Echocardiography Market, by Age Group

  • Adult
  • Pediatric
  • Neonatal

Global Intracardiac Echocardiography Market, by Application

  • Electrophysiology
  • Left atrial Appendage Closure
  • Closure of Paravalvular Leaks
  • Transcatheter Aortic Valve Implantation
  • Mitraclip Implantation and Mitral Valvuloplasty
  • Others

Global Intracardiac Echocardiography Market, by End-user

  • Hospitals
  • Clinics
  • Diagnostic Centers
  • Others

Global Intracardiac Echocardiography Market, by Region

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

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.


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