Intravascular Lithotripsy Market Trends

Growth Drivers

• Innovation of New Technologies - Intravascular lithotripsy technology has evolved rapidly with the introduction of new devices and catheters. The available devices are highly effective and provide better control over the delivery of negative pressure waves, thereby driving revenue growth of the intravascular lithotripsy market. Outpatient procedures are becoming increasingly popular because they are less expensive and more convenient than inpatient procedures. Intravascular lithotripsy is a minimally invasive outpatient procedure that is preferred by many patients.
• Rise in Favorable Reimbursement Policies - Favorable reimbursement policies also drive revenue growth of the market. This has encouraged healthcare providers to offer intravascular lithotripsy as a treatment option, leading to increased demand for this procedure. In many regions, favorable reimbursement policies for intravascular lithotripsy procedures are supporting market expansion. As healthcare providers recognize the cost-effectiveness and clinical benefits of intravascular lithotripsy, reimbursement coverage is expanding. Additionally, governments around the world are increasing spending on healthcare, leading to better access to healthcare facilities and improved infrastructure. This will increase the number of intravascular lithotripsy procedures performed worldwide.
• Growing Awareness about IVL – Increasing awareness about intravascular lithotripsy and increasing demand for techniques used in the treatment of coronary artery diseases is highly accelerating the market expansion of intravascular lithotripsy in the projected time period. Private and public organizations all across the globe are producing campaigns and initiatives that work towards raising awareness about intravascular lithotripsy among people all around the globe.

   Challenges

• High in Cost and Reimbursement Issues – The initial cost of intravascular  lithotripsy along with its equipment and disposables are high in cost which is considered to be a barrier for some healthcare providers. Additionally, reimbursement policies for intravascular lithotripsy procedures vary across regions, and in some cases may not adequately cover the costs. This is anticipated to hamper the market expansion in the upcoming time period.
• Lack of Skilled Labor is Set to Pose Restriction on the Market Growth in the Future Times
• Technical Limitations are Expected to Restrict Market Expansion in the Forecast Time Period.