Cardiovascular Ultrasound Market Research Report-Forecast till 2032

Cardiovascular Ultrasound Market Research Report Information by Test Type (Transthoracic Echocardiography, Transoesophageal Echocardiography, Stress Echocardiography, Fetal Echocardiography, and Others), Technology (2D, 3D and 4D, and Doppler Imaging), Display Type [Color Display and Black and White (B/W) Display], End User (Hospitals & Cardiology Centers, Home Care & Ambulatory Centers, and Others), and Region (Americas, Europe, Asia-Pacific, and Middle East & Africa)-Forecast till 2032

ID: MRFR/MED/1019-HCR | 80 Pages | Author: Rahul Gotadki | March 2024         

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Cardiovascular Ultrasound Market Overview


The Cardiovascular Ultrasound Market is anticipated to reach USD 3.20 billion by 2032 at 6.3% CAGR during the forecast period 2023-2032. The ultrasound imaging process is a medical test. It helps the medical experts for the diagnosis and treatment of various medical conditions.


Cardiovascular Ultrasound is basically a non-invasive technique. During this process, a transducer is used for directing ultrasonic waves at a high frequency. Then, the transducer is positioned upon the chest to penetrate the ultrasonic waves to reflect the internal organs on a computer screen. The rising awareness for the monitoring of fetal health and the use of cardiovascular systems are the important factors driving the market. It is evaluated that Europe is going to observe the largest share in the market.


Cardiovascular Ultrasound Market Overview1


In general, cardiovascular ultrasound is a non-invasive procedure. A transducer is utilized in this technique to direct ultrasonic waves at high frequencies. The internal organs are then reflected on the computer's screen by an ultrasonic transducer placed on the patient's chest. The market is driven by two key factors: increasing awareness of the need to monitor fetal health and the usage of cardiovascular systems. The prevalence of cardiovascular diseases (CVDs), technical improvements, and the benefits of echocardiography over invasive cardiac diagnostic techniques are the main drivers driving the continued expansion of the cardiovascular ultrasound system market. It is anticipated that a sedentary lifestyle and the high incidence of risk factors like cigarette smoking, diabetic complications, obesity, high blood pressure, and others will raise the burden of cardiovascular illnesses.


Due to a growth in the use of ultrasound for diagnosis, monitoring, and treatment, the marketplace for cardiovascular ultrasound equipment is predicted to expand over the forecast period. Sonography or B-mode echography are additional terms to describe "2D ultrasound imaging". The most popular kind of heart ultrasound imaging typically displays B-mode data in two dimensions. It employs several transducers. It makes it possible to produce several images of the field or frames every second, giving the impression of movement. The trend toward non-invasive diagnostics is driving the global cardiovascular ultrasound market. The manufacturers' growing emphasis on creating innovative and creative cardiovascular ultrasound systems will also significantly impact the market's growth. The market for cardiovascular ultrasound systems is expected to develop due to the aging population and a rise in government organizations raising awareness.


The US Food and Drug Administration (FDA) has approved UltraSight for its artificial intelligence (AI)-based cardiac ultrasound-guided device. Medical workers without prior sonography training can now obtain cardiac ultrasound pictures in various scenarios directly at the point of service using real-time AI guiding software. The software is designed for adult patients undergoing two-dimensional transthoracic echocardiography (2D-TTE), specifically to record the ten common views of the heart. Based on the company's crucial study, which demonstrated that even healthcare workers without prior ultrasound training could get diagnostic-quality pictures using the real-time direction of the probe used for ultrasound and comments regarding the ultrasound image's quality, the FDA granted the company's application. The program can be an add-on for the Philips Lumify Ultrasound System.


COVID-19 Analysis


The COVID-19 disease has caused significant damage to the financial systems of various countries across the world. It became extremely difficult to handle the spread of the virus and the treatment of patients. The announcement of lockdown further led to a temporary halt in the manufacturing units of various industries including the Cardiovascular Ultrasound Market. However, in the lowering cases of coronavirus disease, the market is anticipated to regain its growth in the future years.


Cardiovascular Ultrasound Market Trends


Market Drivers


The rising cases of cardiovascular disease and the adoption of cardiovascular systems are among the crucial drivers. Along with that, the rising awareness for monitoring fetal will further drive the Cardiovascular Ultrasound Market Growth.


Restraints


The stringent rules for the approval of new technologies across several governments are considered to lower the Cardiovascular Ultrasound Market Growth. Also, the high costs related to the production of new cardiovascular ultrasound devices are anticipated to hinder the market growth.


News:


Acuson Origin, a new cardiovascular ultrasound system from Siemens Healthineers, has been introduced. It features strong artificial intelligence (AI) capabilities that enable it to recognize the anatomy being photographed and anticipate the subsequent actions required to advance patient care. The brand-new device uses artificial intelligence (AI) algorithms to automate about 500 metrics. The system's AI performs real-time anatomy detection and comprehension. Using this, a sonographer or echocardiographer will not waste time looking for the AI measurement tools in the submenus. With just a glance at the current image on the screen, an AI button can make hundreds of measurements.


Opportunities


The rapid technological advancements for checking heart problems such as valve functioning, regularity of heart functioning, plaque, etc. will open new opportunities for the market. After the increase of COVID-19, the use of cardiovascular ultrasound devices has observed significant growth. Thus, the market is anticipated to have substantial growth.


Challenges


The shortage of skilled labours is anticipated to observe a major challenge. Along with that, the lack of an established supply chain will further lower down the Cardiovascular Ultrasound Market Value.


Value Chain Analysis


The increasing adoption is leading to the Cardiovascular Ultrasound Market Trends to improve. Thus, with the growing demand and rising technological developments, the value chain of the market will strengthen in the upcoming years.


Cardiovascular Ultrasound Market Segment Insights


The Cardiovascular Ultrasound Market is divided into end-user, display type, technology, display type, and test type. Based upon end-user, the Cardiovascular Ultrasound Global Market is divided into Ambulatory centres and Home Care, Cardiology Centres and Hospitals, and Others.


Based upon display type, the Cardiovascular Ultrasound Global Market is divided into Black and White Display and Colour Display.


Based upon technology type, the Cardiovascular Ultrasound Global Market is divided into 4D and 3D, 2D, and Doppler Imaging.


Based upon test type, this market is divided into Fetal Echocardiography, Transthoracic Echocardiography, Stress Echocardiography, Transoesophageal Echocardiography, and Others.


Regional Analysis


Based upon the region, the Cardiovascular Ultrasound Market Size is divided into Europe, Africa, and the Middle East, Asia-Pacific, and the Americas. According to the Cardiovascular Ultrasound Market Forecast by MRFR, Europe is projected to have the largest share. Europe consists of the UK, France, Germany, Italy, Spain, and other parts of Europe. With the early adoption of and commercialization of the product, the region is holding a significant share. Also, the increasing awareness for less-invasive procedures is further contributing to the largest share.


Secondly, the Americas are estimated to hold the second-largest Cardiovascular Ultrasound Market Share. The increases in the use of cardiac problems are some crucial drivers of the market. Also, the increasing adoption and high awareness of new technology are improving the market growth.


Furthermore, Asia-Pacific is anticipated to observe gradual growth during the studied forecast period. The increasing cases of cardiovascular diseases and improvement in government initiatives for the healthcare sector will lead to stable growth. Countries such as India and China are playing a significant role in the increase in the Cardiovascular Ultrasound Market Growth.


Competitive Landscape


The Cardiovascular Ultrasound Market is fragmented with the presence of various key players. These key players do acquisitions, market analysis, collaborations, mergers, partnerships, etc. Here are some key players of the market listed below.



  • Fujifilm Medical Systems

  • Whale Imaging

  • Samsung Medison

  • Canon Medical Systems Corporation

  • Mindray Medical

  • Siemens Healthcare

  • Chison Medical Imaging

  • GR Healthcare Inc.

  • Hitachi, KPI Healthcare

  • Mindray Medical

  • Koninklijke Phillips N.V.


Recent Developments



  • Phillips in the year 2019 announced its system for cardiovascular ultrasound called "EPIQ CVx."This device is designed for enhancing the workflow and diagnosis of medical professionals.

  • Phillips in 2017 announced the acquisition of a company called Imaging Systems GmbH. Imaging Systems GmbH is consi0dered one of the leading companies which provide intelligent software for image analysis.

  • GE Healthcare in 2015 announced the launch of new software for a cardiac ultrasound with the 4D feature. This feature is available for three different ultrasound systems VividE95, Vivid 90, Vivid70 in countries such as Asia, the US, Latin America, and Europe.


Report Overview


The overview of the Cardiovascular Ultrasound Market Outlook is listed below.



  • Market Overview

  • COVID-19 Analysis

  • Dynamics of the Market

  • Value Chain Analysis

  • Market Segmentation

  • Regional Analysis

  • Competitive Analysis

  • Recent Development


Report Score and Segmentation


The report score is to highlight information about the Cardiovascular Ultrasound Market. It highlights the information such as drivers, challenges, opportunities, etc. The information provided in this report is gathered from various primary and secondary sources.


Cardiovascular Ultrasound Market Segmentation


Cardiovascular Ultrasound Technology Outlook



  • 4D and 3D

  • 2D

  • Doppler Imaging


Cardiovascular Ultrasound Test Type Outlook



  • Fetal Echocardiography

  • Transthoracic Echocardiography

  • Stress Echocardiography

  • Transoesophageal Echocardiography

  • Others


Cardiovascular Ultrasound Display Type Outlook



  • Black and White Display

  • Colour Display


Cardiovascular Ultrasound End-User Outlook



  • Ambulatory Centres and Home Care

  • Cardiology Centres and Hospitals

  • Others


Cardiovascular Ultrasound Region Outllok



  • Europe

  • Africa and the Middle East

  • Asia-Pacific

  • Americas

Report Scope:

Report Attribute/Metric Details
  Market Size   USD 3.20 Billion
  CAGR   6.3%
  Base Year   2019
  Forecast Period   2023-2032
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Information by Test Type, Technology, Display Type
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Canon Medical Systems Corporation, Koninklijke Philips N.V., Hitachi, Fujifilm Medical Systems, GE Healthcare, Inc., Siemens Healthcare, Mindray Medical, Chison Medical IMaging Co. Ltd., Samsung Medison, KPI Healthcare Inc., and Whale Imaging.
  Key Market Opportunities   The increasing awareness regarding fetal health monitoring and the rise in the use of preventive medicine is anticipated to fuel the market growth.
  Key Market Drivers   The growing prevalence of cardiac disorders fueling the growth of the market.




Frequently Asked Questions (FAQ) :

The global cardiovascular ultrasound market is expected to exhibit a CAGR of 6.30% from 2023 to 2032

The global cardiovascular ultrasound market is driven by the large cases of cardiovascular disorders.

The global cardiovascular ultrasound market stood at USD 1630 million in 2018.

Fetal echocardiography segment is the fastest growing segment under the ‘test type’ and will dominate the global cardiovascular ultrasound market.

3D and 4D sub-segments can display the fastest growth rate under the ‘technology’ segment in the global cardiovascular ultrasound market.

Europe can dominate the global cardiovascular ultrasound market due to early commercialization of products.

Samsung Medison, Whale Imaging, Canon Medical Systems Corporation, Mindray Medical, KPI Healthcare Inc., Chison Medical Imaging Co. Ltd., Hitachi, Fujifilm Medical Systems, GE Healthcare, Inc., Koninklijke Philips N.V., and Siemens Healthcare are major players in the global cardiovascular ultrasound market.

Acquisitions, mergers, and collaborations are major strategies followed by players of the global cardiovascular ultrasound market.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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