Philips has acquired SpectraWAVE to enhance its intravascular imaging capabilities, strengthening its position in the growing cardiovascular diagnostics market.

Target Information

SpectraWAVE is a pioneering company specializing in advanced intravascular imaging and physiological assessment technologies designed to diagnose and guide treatment for patients suffering from coronary artery disease (CAD). The company has developed innovative solutions, including the HyperVue Imaging System and the AI-enabled X1-FFR technology, which enhances the precision of intervention procedures within coronary arteries.

Industry Overview in the U.S.

The global intravascular ultrasound catheters (IVUS) market is positioned for steady growth, with a forecasted compound annual growth rate (CAGR) of 4% from 2024 to 2034. As of now, Philips holds approximately 88% of the global market share for IVUS devices, while North America represents the largest regional market for these medical devices, boasting a market value of $490 million. Furthermore, it is expected that the North American IVUS market will see a substantial growth rate of 6% during the forecast period.

The increasing prevalence of cardiovascular diseases (CVDs), driven by aging populations and elevated smoking rates in certain regions, has surged the demand for IVUS devices. Additionally, healthcare spending globally is rising