iData Research (“iData”), a global consulting and market research firm, has unveiled updated insights on the U.S. fractional flow reserve (FFR) guidewires, intravascular ultrasound (IVUS), and optical coherence tomography (OCT) catheters and consoles markets. iData’s analysis addresses brand-level metrics including average selling prices (ASPs), revenue by brand, market share by revenue, market share by unit, and total units sold. Based on the data, revenue and units sold both minimally decreased in Q2’ 20 as COVID-19 hit. Despite this, both revenue and units sold have begun climbing back up to pre-COVID levels and have exceeded historical numbers in Q2’ 21.
iData’s analysts utilized primary data from 1000s of reporting hospitals and ambulatory surgery centers (ASCs) to gather accurate data and sales information for the updated reports. After combining this with rigorous primary research, ongoing for over a decade, a cross-verified and highly accurate depiction of the market was developed.
Throughout the analysis on the U.S. fractional flow reserve (FFR) guidewires, intravascular ultrasound (IVUS), and optical coherence tomography (OCT) catheters and consoles market, six companies and over 30 brands were analyzed within six market segments including IVUS consoles, IVUS catheters, OCT consoles, OCT catheters, FFR consoles, and FFR catheters. The insights obtained from the updated market analysis generated expected results. Overall, the revenue and units sold decreased due to COVID-19. The global pandemic wreaked havoc on many markets and further influenced the decline within the U.S. fractional flow reserve (FFR) guidewires, intravascular ultrasound (IVUS), and optical coherence tomography (OCT) catheters and consoles market. Despite this, all of the individual market segments were able to recover rapidly by Q3’ 20 and continue growing into Q2 ‘21.
“Cardiovascular procedures, throughout 2020, were not deemed essential,” says Dr. Kamran Zamanian, Senior Partner and CEO of iData Research, “Because of this, a lot of markets experienced declines, including the U.S. FFR guidewires, IVUS, and OCT catheters, and consoles markets.”
Out of all six companies, Abbott and Philips were able to recover from COVID-19 headwinds in Q2 ‘20 the quickest. On the other hand, ACIST experienced a slight decrease in Q2 ‘20 before increasing again in Q3 ‘20. However, ACIST hasn’t been able to recover as successfully from the global pandemic as the other five companies and has further experienced market declines into the last quarter of 2020 and the first quarters of 2021. In terms of overall revenue in Q2’ 21, Philips leads by a substantial margin and is followed by Boston Scientific and Abbott.
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