Market overview
Cardiovascular
ultrasound or imaging allows healthcare professionals to monitor changes in
heart structure to detect the presence of any abnormality or medical conditions
such as diabetes, hypertension or other cardiovascular diseases. The
global cardiovascular
ultrasound market share is estimated to strike a CAGR of 6.3%
over the forecast period of 2023-2032, predicts Market Research Future (MRFR).
After extensively analyzing the market MRFR expects the global cardiovascular
ultrasound market to grow up to USD 3.20 billion by forecast perioed.
Cardiovascular
diseases continue to be among the top reasons for hospitalization and deaths
across the globe. Surging prevalence of heart diseases requires early detection
of such diseases to allow physicians to provide timely treatment. The global
cardiovascular ultrasound market is expanding against the backdrop of an
alarming increase in the incidence rate of heart diseases. Cardiovascular
ultrasound techniques such as echocardiography, angiography, nuclear cardiac
imaging, computed tomography, cardiac positron emission tomography (cardiac
PET) and cardiac magnetic resonance imaging (cardiac MRI) are extensively used
for the determination of any abnormalities. Not only are these methods
effective but also non-invasive which has led to increased adoption of these
methods.
Competitive Landscape
The
global cardiovascular ultrasound market players are
Philips
Healthcare (The Netherlands), Toshiba Medical Systems Corporation (Japan),
Siemens Healthcare (Germany), Hitachi Medical Corporation (Japan), and GE
Healthcare (U.S.) are the key players in the global cardiovascular ultrasound
market.
Increasing
patient pool suffering from diabetes is also a key factor in enhancing the
growth of the market. Diabetic people are at a higher risk of developing
cardiac diseases and induce greater demand within the market. Improving
reimbursement scenario further creates a conducive environment for the growth
of the market.
The
governments in various countries, especially the emerging nations are incurring
heavy expenditure on the development of healthcare infrastructure and are
heavily investing in such healthcare technology which boosts the market growth.
Introduction
of promising technologies such as coronary computed tomography (CT) angiography
and others are also facilitating market growth. Moreover, medical device
manufacturers are investing substantially in R&D activities. Various novel
devices have received approval from regulatory bodies such as the FDA, and many
more are in the pipeline. This is likely to augment the growth of the market
over the forecast period.
Cardiovascular
ultrasound or imaging devices are subject to strict monitoring by the FDA and
other regulatory bodies which can constrain the market growth over the forecast
period. Moreover, cardiovascular ultrasound tools are expensive and diagnostic
tests result in burgeoning healthcare costs which can impede the growth of the
market in price-sensitive regions.
Segmentation
The
global cardiovascular ultrasound market has been segmented based on type of
imaging, imaging technology, and end user.
By
type of imaging, the global cardiovascular
ultrasound market outlook has been segmented into transthoracic,
trans esophageal, echocardiograms, stress, and abdominal vasculature ultrasound
imaging.
By
imaging technology, the global cardiovascular ultrasound market has been
segmented into 2D, 3D and Color Doppler.
By
end user, the global cardiovascular ultrasound market has been segmented into
hospitals and clinics, diagnostic centers and others.
Regional Analysis
By
region, the global cardiovascular ultrasound market has been segmented into the
Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA).
North
America is the largest market for cardiovascular ultrasound market. High
prevalence of cardiovascular diseases and robust healthcare infrastructure
supports the growth of the market in the region. Moreover, high healthcare
expenditure, favorable reimbursement policies, and the presence of various
medical device manufacturers in the region also acts as a plus for the growth
of the market.
APAC
is expected to be the fastest growing market for cardiovascular ultrasound
market. Surging prevalence of cardiovascular diseases and the presence of a
massive patient pool are factors driving growth within the APAC market. In
addition, diabetes is also a common prevalent condition in the region which
exposes patients at greater risk of acquiring heart diseases. High expenditure
on healthcare infrastructure and government support for the same us fostering
the growth of the market in the region.
About US:
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