Global Cardiovascular Ultrasound System Market By Test Type (Transthoracic Echocardiogram, Transesophageal Echocardiogram, Stress Echocardiogram, Other Echocardiograms), Technology (2D Ultrasound, 3D & 4D Ultrasound, Doppler Imaging), Device Display (Color Display, Black & White (B/W) Display), End User (Hospital and Cardiology Centers, Home and Ambulatory Care Settings, Research Institutes, Medical Device and Pharmaceutical Companies, Other End Users), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) - Industry Trends and Forecast to 2026
Market Analysis: Global Cardiovascular Ultrasound System Market
Global cardiovascular ultrasound system market is registering a substantial CAGR of 5.45% in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. The rise in the market can be attributed due to various advancements and availability of portable diagnostic ultrasound systems and surging penetration of healthcare insurance is contributing to the growth of the market.
Market Definition: Global Cardiovascular Ultrasound System Market
Cardiovascular ultrasound system refers to the medical diagnostic of cardiovascular diseases. The system provides the images of the heart and the valves which assist the doctors and surgeons in surgical procedures and treatment. The cardiovascular ultrasound system can have a color display as well as black and white display. There are various tests done such as a transthoracic echocardiogram, transesophageal echocardiogram and stress echocardiogram. Cardiovascular ultrasound system is usually used in the hospitals and clinics.
- The rising incidences of cardiovascular diseases is driving the market growth
- The innovations and technological advancements have boosted the market growth
- The various benefits of echocardiography over invasive cardiac diagnostic procedures is driving the market growth
- The surge in the preventive medicine has boosted the market growth
- The unfavorable reimbursement scenario is hindering the market growth
- The adoption of new technology has various impacts which hampers the market growth
- The regulatory policies and compliances had hindered the market growth
Segmentation: Global Cardiovascular Ultrasound System Market
By Test Type
- Transthoracic Echocardiogram
- Transesophageal Echocardiogram
- Stress Echocardiogram
- Other Echocardiograms
- 2D Ultrasound
- 3D & 4D Ultrasound
- Doppler Imaging
By Device Display
- Color Display
- Black & White (B/W) Display
By End User
- Hospital and Cardiology Centers
- Home and Ambulatory Care Settings
- Research Institutes
- Medical Device and Pharmaceutical Companies
- Other End Users
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Key Developments in the Market:
- In August 2018, Koninklijke Philips N.V. had launched EPIQ CVx cardiovascular ultrasound system. It is designed to boost diagnostic conviction and make the workflow easy for the clinicians by providing them more time to for the interaction with their patients and reduction in the need for repeat scans. It had brought advanced image quality quantification and intelligence specifically together. This product launch had expanded the product offering of the company.
- In September 2016, GENERAL ELECTRIC had launched Vivid iq, a portable cardiovascular ultrasound system. It had improved the image quality and assists the surgeons in the diagnosis. It weighs 4.5 kg, provides high-quality cardiac care. It is very user friendly, fantastic interface, truly portable, and a great design which is futuristic and effective at the same time. This launch had expanded the product portfolio and brought up advancement in the market.
Global cardiovascular ultrasound system market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of cardiovascular ultrasound system market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major market competitors currently working in the global cardiovascular ultrasound system market are GENERAL ELECTRIC, Siemens, Hitachi Ltd, Koninklijke Philips N.V., CANON MEDICAL SYSTEMS CORPORATION, ESAOTE SPA, SAMSUNG, Shenzhen Mindray Bio-Medical Electronics Co. Ltd., FUJIFILM Holdings Corporation, KPI Healthcare Inc., Whale Imaging, Ultrasound Technologies Ltd., Unetixs Vascular Inc., Supersonic Imagine, Trivitron Healthcare, Atys medical, Medtronic, Stryker, Boston Scientific Corporation, Abbott and Cardinal Health among others.
Research Methodology: Global Cardiovascular Ultrasound System Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report
- Current and future of global cardiovascular ultrasound system market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)