The Cardiovascular Ultrasound Market revenue were estimated at US$ 1.2 Billion in 2022 and is anticipated to grow at a CAGR of 7.2% from 2023 to 2033, according to a recently published Future Market Insights report. By the end of 2033, the market is expected to reach US$ 2.6 Billion.
The market is predicted to grow as preventative medicine becomes more widely used and the prevalence of Cardiovascular Diseases (CVDs) rises. Outpatient imaging services were negatively impacted by the COVID-19 pandemic, which impeded global market growth.
Coronary heart disease, heart attack, and stroke are among the most common causes of death in the United States. CVD predisposition has grown as a result of changing lifestyles. According to the CDC, 28.2 million persons in the United States were diagnosed with heart disease in 2017. Ultrasound technology is used to check for anomalies in the heart’s function, such as cardiac pumping capacity, valve function, and plaque in the heart.
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Ultrasound imaging is a noninvasive medical diagnostic tool that helps doctors diagnose and treat medical issues. The images of the veins and arteries in the body are produced by vascular ultrasonography.
A Doppler ultrasound scan is often part of a vascular ultrasound evaluation. They can also show blood flowing through arteries. The global Cardiovascular Ultrasound treatment market is being driven by factors such as the rising prevalence of heart diseases and the growing acceptability of Cardiovascular Ultrasound systems over older invasive cardiac diagnostic procedures.
Key Takeaways:
- In the United States, Medicare payments are dependent on a variety of variables, including relative value units, conversion factors, and local practise cost indexes.
- By 2033, the market in the United Kingdom is estimated to be worth US$ 121.5 million. Growing at an 8.3% CAGR during the forecast period, the country’s market is expected to provide an absolute dollar potential of US$ 26.8 million.
- From 2023 to 2033, the market in Japan is estimated to increase at a CAGR of 9.3%, reaching US$ 128.3 million.
- The transthoracic echocardiography segment is estimated to develop at the fastest pace of 7.3% during the forecast period.
- Doppler is the most used cardiovascular ultrasound system because it generates crisp images in less time. In 2020, Doppler had the highest revenue share.
- In the recent past, the colour cardiovascular ultrasound systems segment had a sizable revenue share.
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Competitive Landscape
Some of the prominent players in the Cardiovascular Ultrasound market include GE Healthcare, Koninklijke Philips, Siemens Healthineers AG, Hitachi Medical Corp., Samsung Medison Co. Ltd., Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Chison Wuxi Xiangsheng Medical Technology Co., Ltd., and Fujifilm Sonosite, Inc.
Some of the recent developments of key Cardiovascular Ultrasound providers are as follows:
- In October 2020, GE Healthcare got FDA 510k clearance for their extreme edition package of vivid Cardiovascular Ultrasound devices, which contains new artificial intelligence (AI)-based features that enable doctors to obtain faster, more consistent assessments.
- In October 2020, Royal Philips introduced the Ultrasound 3300 in India. OB/GYN, cardiovascular imaging, and general imaging are a few of the applications for the device.
- In August 2020, Philips announced the release of its new Affiniti CVx and 7.0 for EPIQ CVx Cardiovascular Ultrasound systems, which include enhancements to boost diagnostic confidence and improve the user experience.
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Market Segments Covered in Cardiovascular Ultrasound Market Analysis
By Type:
- Fetal Echocardiography
- Transthoracic Echocardiography
- Transesophageal Echocardiography
- Others
By Technology:
- 2D
- 3D/4D
- Doppler
By Display Type:
- B/W
- Color
By End-use:
- Hospitals
- Diagnostic Centers
- Ambulatory Care Centers
- Other End-uses
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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