New York, USA, Oct. 11, 2022 (GLOBE NEWSWIRE) -- Cardiovascular Ultrasound Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Cardiovascular Ultrasound Market Information by Test Type, Technology, Display Type, End-User, and Region - Forecast till 2030”, the market is anticipated to reach USD 2.84 Billion by 2030 at 6.3% CAGR during the forecast period 2022-2030.
Cardiovascular Ultrasound Market Synopsis
Cardiovascular ultrasound can be described as a non-invasive method that involves the use of a transducer that helps direct ultrasonic waves at a significant frequency. After this, the transducer is placed on the chest for ultrasonic wave penetration, after which the internal organs are reflected on a computer screen. The mounting awareness about the tracking of fetal health as well as the extensive deployment of advanced cardiovascular systems will mean considerable market expansion in the near future. Europe will be one of the most successful markets for cardiovascular ultrasound treatment in the coming years.
Those dealing with underlying heart issues are prone to severe illnesses due to COVID-19. These patients require a diagnostic ultrasound for diagnosing COVID-19. Ultrasound of the patient’s heart is carried out at the bedside and is now a common tool used by clinicians for treating COVID-19 patients.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 2.84 Billion |
| CAGR | 6.3% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Test Type, Technology, Display Type and End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Rising prevalence of cardiac disorders |
| Increasing awareness for the monitoring of fetal health and the use of cardiovascular systems |
Cardiovascular Ultrasound Market Competitive Landscape:
The affluent firms in the cardiovascular ultrasound treatment industry are
- 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.
Cardiovascular Ultrasound Market Dynamics:
Market Drivers:
The latest update of the WHO (World Health Organization) reveals that cardiovascular disease remains one of the key reasons of death worldwide, and around three-quarters of these deaths are from CVDs among low-and middle-income countries. Therefore, owing to the significant mortality rate caused by CVDs, the need for effective disease diagnostics as well as monitoring has surged considerably, which should push the demand for the cardiovascular ultrasound system market.
Furthermore, the 2022 American Heart Association report says that nearly 256.5 million people worldwide were affected by ischemic heart disease, with the Middle East, North Africa, Eastern Europe, and Central and South Asia having the maximum prevalence of IHD that year. This burgeoning prominence of cardiovascular diseases is in conjunction with the rising prevalence of several risk factors including obesity, hypertension, diabetes, smoking, and more. A sedentary lifestyle is another key cause, which will foster the deployment rate of ultrasound in disease monitoring, treatment, and diagnostics, and in turn, accelerate the demand for cardiovascular ultrasound systems.
Technological advances like artificial intelligence could benefit the cardiology segment including a higher ability to diagnose certain heart conditions. To illustrate, in September 2022, Caption Health introduced an AI-based at-home, mobile cardiovascular ultrasound service called Caption Care, following an alliance with Portamedic. The latter has an extensive network of a whopping 4,000 technicians in 50 states who make use of Caption’s AI echocardiogram platform.
Cardiovascular Ultrasound Market Restraints:
Challenges in the form of unaffordability of the available treatments along with poor reimbursement regulations and policies in emerging regions will slow down the growth rate of the cardiovascular ultrasound treatment industry.
Another challenge will be the lack of skilled medical professionals and technicians in emerging countries. Also, the absence of an established, seamless supply chain can reduce the value of the worldwide market in the years to come.
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Cardiovascular Ultrasound Market COVID 19 Analysis
The COVID-19 outbreak’s notable impact has led to various repercussions on the health status of people across the world. The aftermath is linked with the significant social and economic burden on people worldwide. While the major policymakers are implementing new frameworks and industries are adopting advanced models of expansion to maintain their relevance, people are facing a series of mental trauma.
Around the world, the rising cases have spurred mental, and economic issues, especially among the elderly. Additionally, the younger populace has been dealing with challenges owing to loss of livelihoods and is opting for family care to address the repercussions. The focus is largely on the treatment of COVID-19 and the development of a vaccine, which steers attention away from other markets. However, those affected by some type of heart condition are more prone to COVID-19 infection and are, therefore, rushing to emergency rooms. These factors should accelerate the market growth rate in the years to come.
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Cardiovascular Ultrasound Market Segmentation
By End-User
Some of the top end-users of cardiovascular ultrasound systems include Cardiology Centres and Hospitals, Ambulatory centers and Home Care, and more.
By Display Type
With respect to display type, the cardiovascular ultrasound market can be divided into Black and White display as well as Colour Display.
By Technology Type
The key technology types covered in the report based on the Cardiovascular Ultrasound treatment market include 4D and 3D, Doppler Imaging as well as 2D.
By Test Type
Depending on test type, the market can be considered for Transthoracic Echocardiography, Fetal Echocardiography, Transoesophageal Echocardiography, Stress Echocardiography, and more.
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Cardiovascular Ultrasound Market Regional Insights
Europe is heading the worldwide market and will have a solid run throughout the given period. The regional market’s frontrunners are the UK, Germany, France, Spain, and Italy. The region’s tendency to quickly adopt the latest medical technologies and the high commercialization rate of cardiovascular ultrasound systems will ensure Europe’s strong standing in the coming years. Moreover, the surging awareness level about less-invasive procedures among patients and the resultant increase in their preference for the same will also favor the regional industry.
At the second spot in the American market, where the demand for cardiovascular ultrasound systems is quite considerable in countries like the US and Canada. The heavy burden of cardiac problems, especially among the large geriatric population along with the extensive use of some of the most advanced technologies should translate into significant market expansion.
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