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Global Cardiovascular Ultrasound System Market – Industry Trends and Forecast to 2029

  • Healthcare
  • Upcoming Report
  • Mar 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60
  • Healthcare
  • Upcoming Report
  • Mar 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Cardiovascular Ultrasound System Market, By Test Type (Transthoracic Echocardiogram, Transoesophageal Echocardiogram, Stress Echocardiogram, Other Echocardiograms), Technology (2D Ultrasound, 3D and 4D Ultrasound, Doppler Imaging), Device Display (Colour Display, Black and White (B/W) Display), End-User (Hospital and Cardiology Centres, Home and Ambulatory Care Settings, Research Institutes, Medical Device, and Pharmaceutical Companies, Other End Users) – Industry Trends and Forecast to 2029.

Cardiovascular Ultrasound System Market

Market Analysis and Size

The market for cardiovascular ultrasound system is estimated to increase rapidly over the forecast period. Cardiovascular diseases (CVD) are still a major source of morbidity and mortality in developed countries, and they are becoming more prevalent in emerging countries. According to the World Health Organization's 2020 updates, ischemic heart disease is responsible for 16 percent of all fatalities worldwide. Ischemic heart disease has shown the biggest increase in mortality since 2000, rising by more than 2 million to 8.9 million in 2019. As a result, the need for cardiovascular ultrasound systems for diagnostics has increased as cardiovascular disorders have increased.

  • Data Bridge Market Research analyses that the cardiovascular ultrasound system market was valued at USD 1.66 billion in 2021 and is expected to reach USD 2.52 billion by 2029, registering a CAGR of 5.37% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Market Definition

Cardiovascular ultrasonography is a painless diagnostic that creates moving images of the heart using sound waves. Echocardiography is another name for cardiac ultrasonography. It aids in the detection of blood clots in the heart. In addition, the cardiovascular ultrasonography system assesses the heart muscle's health. Transthoracic echocardiography, transesophageal echocardiogram, and stress echocardiogram are the three forms of cardiovascular ultrasonography currently on the market.

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2019 - 2014)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Test Type (Transthoracic Echocardiogram, Transoesophageal Echocardiogram, Stress Echocardiogram, Other Echocardiograms), Technology (2D Ultrasound, 3D and 4D Ultrasound, Doppler Imaging), Device Display (Colour Display, Black and White (B/W) Display), End-User (Hospital and Cardiology Centres, Home and Ambulatory Care Settings, Research Institutes, Medical Device, and Pharmaceutical Companies, Other End Users)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Market Players Covered

Koninklijke Philips N.V. (Netherlands), Hitachi Ltd. (Japan), Siemens Healthcare GmbH (Germany), CANON MEDICAL SYSTEMS CORPORATION (Japan), General Electric (US), ESAOTE SPA (Italy), SAMSUNG (South Korea), Shenzhen Mindray Bio-Medical Electronics Co. Ltd. (China), FUJIFILM Corporation (Japan), KPI Healthcare India Pvt. Ltd. (India), Whale Imaging (US), Unetixs Vascular Inc. (US), Supersonic Imagine (France), Trivitron Healthcare (India), ATYS MEDICAL(France), Cardinal Health (US), Medtronic (Ireland), Boston Scientific Corporation (US), Stryker (US), Abbott (US)

 

Cardiovascular Ultrasound System Market Dynamics

Drivers

  • Increasing prevalence of cardiovascular diseases will drive the market's growth rate

The increase in prevalence of cardiovascular diseases will cushion the growth rate of cardiovascular ultrasound system market.

  • Rising preference for non-invasive diagnostic methods will propel the growth rate of market during the forecast period

The global cardiovascular ultrasound system market is being driven by the rising preference for non-invasive diagnostic methods. Along with this, increasing penetration of preventive medicines will cushion the market's growth rate.

Furthermore, the rising focus of manufacturers operating to develop innovative and novel cardiovascular ultrasound systems will be a major factor influencing the growth of the cardiovascular ultrasound system market. Along with this, increase in the number of government to spread awareness and rising geriatric population are the driving factors accelerating the growth of the cardiovascular ultrasound system market. Also, the rise in the changing lifestyle and increasing expenditure on healthcare infrastructure are the major market drivers that will further escalate the growth of cardiovascular ultrasound system market.

Opportunities

  • Growing number of R&D activities will boost many market opportunities during the forecast period

Moreover, the rising number of research and development activities will benefit the cardiovascular ultrasound system market growth.

Moreover, rise in the adoption of advancement technologies and increasing number of emerging markets will further provide beneficial opportunities for the cardiovascular ultrasound system market growth during the forecast period.

Restraints/Challenges

  • High cost of cardiovascular ultrasound system devices will hamper the market's growth rate

However, high costs associated with cardiovascular ultrasound system devices will impede the cardiovascular ultrasound system market's growth rate. Along with this, adverse reimbursement scenario will act as major market restrain and hamper the market's growth rate.

On the other hand, the dearth of skilled and experienced sonographers in under-developed nations will challenge the cardiovascular ultrasound system market. Additionally, the economic impact of adopting new technologies will restrain and further hinder the growth rate of the market. Also, emergence of unfavourable conditions due to COVID-19 outbreak and lack of awareness will act as restrain and further impede the growth rate of market during the forecast period of 2022-2029.

This cardiovascular ultrasound system market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the cardiovascular ultrasound system market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Cardiovascular Ultrasound System Market

In 2020, the COVID-19 will significantly impact the cardiovascular imaging system. The decline in cardiovascular disease diagnosis due to healthcare resources reserved for COVID-19 patients has a detrimental influence on the investigated market. The COVID-19 virus has wreaked havoc on the financial systems of a number of countries around the world. The propagation of the virus and the treatment of patients became increasingly difficult to manage. The lockdown announcement also resulted in a temporary halt in other industries' manufacturing units, including the cardiovascular ultrasound market.

However, as the number of instances of coronavirus disease declines, the market is expected to rebound in the coming years.

Recent Development

  • In October 2020, GE Healthcare had received FDA clearance for Vivid Ultra Edition, AI-powered cardiovascular ultrasound system. It is designed to improve measurement consistency and reduce the diagnostic exam time. The Vivid Ultra Edition's AI-driven, neural network-based algorithms are created to achieve repeatable and faster readings in 2D echo imaging.

Global Cardiovascular Ultrasound System Market Scope

The cardiovascular ultrasound system market is segmented on the basis of test type, technology, device display, and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Test Type

  • Transthoracic Echocardiogram
  • Transoesophageal Echocardiogram
  • Stress Echocardiogram
  • Other Echocardiograms

On the basis of test type, the cardiovascular ultrasound system market is segmented into transthoracic echocardiogram, transoesophageal echocardiogram, stress echocardiogram, other echocardiograms.

Technology

  • 2D Ultrasound
  • 3D and 4D Ultrasound
  • Doppler Imaging

On the basis of technology, the cardiovascular ultrasound system market is segmented into 2D ultrasound, 3D and 4D ultrasound, and doppler imaging.

Device Display

  • Colour Display
  • Black and White (B/W) Display

 On the basis of device display, the cardiovascular ultrasound system market is segmented into colour display, and black and white (B/W) display.

End-User

  • Hospital and Cardiology Centres
  • Home and Ambulatory Care Settings
  • Research Institutes
  • Medical Device, and Pharmaceutical Companies
  • Other End Users

On the basis of end-user, the cardiovascular ultrasound system market is segmented into hospital and cardiology centres, home and ambulatory care settings, research institutes, medical device and pharmaceutical companies, and other end users.

Cardiovascular Ultrasound System Market Regional Analysis/Insights

The cardiovascular ultrasound system market is analysed and market size insights and trends are provided by country, test type, technology, device display, and end-user as referenced above.

The countries covered in the cardiovascular ultrasound system market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the cardiovascular ultrasound system market because of the increase in preventive medicine and the growing adoption of advanced technologies in this region. Additionally, enhanced infrastructure in healthcare amenities will flourish the market's growth rate in this region. 

Asia-Pacific is expected to grow during the forecast period due to the rising incidence of chronic conditions in this region. Along with this, favourable reimbursement policy and regulatory framework will flourish the market's growth rate in this region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure Growth Installed Base and New Technology Penetration

The cardiovascular ultrasound system market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for cardiovascular ultrasound system market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the cardiovascular ultrasound system market. The data is available for historic period 2010-2020.

Competitive Landscape and Cardiovascular Ultrasound System Market Share Analysis

The Cardiovascular ultrasound system market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to cardiovascular ultrasound system market.

Some of the major players operating in the cardiovascular ultrasound system market Koninklijke Philips N.V. (Netherlands), Hitachi Ltd. (Japan), Siemens Healthcare GmbH (Germany), CANON MEDICAL SYSTEMS CORPORATION (Japan), General Electric (US), ESAOTE SPA (Italy), SAMSUNG (South Korea), Shenzhen Mindray Bio-Medical Electronics Co. Ltd. (China), FUJIFILM Corporation (Japan), KPI Healthcare India Pvt. Ltd. (India), Whale Imaging (US), Unetixs Vascular Inc. (US), Supersonic Imagine (France), Trivitron Healthcare (India), ATYS MEDICAL(France), Cardinal Health (US), Medtronic (Ireland), Boston Scientific Corporation (US), Stryker (US), and Abbott (US), among others.


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Frequently Asked Questions

The Cardiovascular Ultrasound System Market will be projected USD 2.52 billion during the forecast period of 2022 to 2029.
The Cardiovascular Ultrasound System Market is to Grow at a CAGR of 5.37% During the Forecast Period of 2022 to 2029
The Expansion of the Global Cardiovascular Ultrasound System Market will be fueled by the rising prevalence of cardiovascular diseases and rising number of geriatric population. Additionally, increasing penetration of preventive medicines and rising preference for non-invasive diagnostic methods will enhance the growth rate of Global Cardiovascular Ultrasound System Market.
Koninklijke Philips N.V. (Netherlands), Hitachi Ltd. (Japan), Siemens Healthcare GmbH (Germany), CANON MEDICAL SYSTEMS CORPORATION (Japan), General Electric (US), ESAOTE SPA (Italy), SAMSUNG (South Korea), Medtronic (Ireland), Boston Scientific Corporation (US), Stryker (US), Abbott (US) are the major companies operating in this market.
The Countries Covered in the Cardiovascular Ultrasound System Market Report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.