Philips announces SpectraWAVE acquisition, expanding intravascular imaging portfolio

Core Insights - Philips has agreed to acquire SpectraWAVE, a Massachusetts-based medical device company focused on technologies for diagnosing and treating coronary artery disease, enhancing its position in the intravascular imaging and AI-driven healthcare sectors [1] - The acquisition will strengthen Philips' presence in the intravascular imaging, physiological assessment, and IVUS device market, which is projected to grow at a compound annual growth rate of 4% from 2024 to 2034 [1][2] Market Position - Philips currently holds an 88% market share in the global IVUS market, with North America being the largest market valued at $490 million [2] - The North American IVUS market is expected to grow by 6% during the 2024-2034 period, driven by increasing cardiovascular disease incidence and healthcare spending [2] Growth Drivers and Barriers - The growth in demand for IVUS medical devices is attributed to the rising incidence of cardiovascular diseases, an aging population, and high smoking rates in certain regions [2] - Barriers to adoption include the high cost of imaging techniques and a lack of specialized heart hospitals in some areas [2] Technological Advancements - Philips' acquisition includes the HyperVue Imaging System and X1-FFR technology, which enhance imaging capabilities and assist clinicians in stent placements [2] - The integration of SpectraWAVE's technologies with Philips' existing products is expected to increase IVUS procedure adoption rates and drive innovation in the cardiovascular and diagnostic imaging sectors [2]