The global Cardiovascular Ultrasound market size is expected to be worth around US$ 3.87 billion by 2030, according to a new report by Vision Research Reports.
The global Cardiovascular Ultrasound market size was valued at US$ 2.38 billion in 2020 and is anticipated to grow at a CAGR of 5.84% during forecast period 2021 to 2030.
Rising investment in the Medtech industry, increasing R&D activities, and high prevalence of cardiovascular diseases are the key factors driving market growth.
Benefits associated with cardiovascular ultrasound over conventional methods include quick recovery, reduced span of hospitalization, and fewer post-operative complications. These benefits along with the rising geriatric population are expected to propel the demand for cardiovascular ultrasound diagnosis over the forecast period.
North America captured the largest market share in 2017. Favorable reimbursement framework and presence of a large number of industry players are some of the major factors which can be attributed to regional growth. The rising geriatric population coupled with sophisticated healthcare infrastructure is expected to further fuel market growth in the region. Furthermore, increasing health awareness is driving demand.
Based on type, the market is segmented into transthoracic echocardiography, transesophageal echocardiography, fetal echocardiography, and others. The fetal echocardiography segment is expected to witness the fastest CAGR during the forecast period.
Fetal echocardiogram is one of the pregnancy tests performed in the second trimester to check the development of all the four chambers of the heart. It allows visualization of the heart structure of the fetus. Increasing awareness regarding fetal health monitoring is driving this segment’s growth.
Transesophageal echocardiography is used when transthoracic echocardiography procedure is unable to provide proper results, which in turn, is promoting its demand.
Based on technology, the market is segmented into 2D, 3D/4D, and Doppler ultrasound systems. Doppler is the most preferred system as they provide sharp images in a shorter time. The technique is gaining prominence in developing countries such as India and China owing to the increasing penetration of technologically advanced systems throughout the region.
3D/4D is an advanced version of 2D CVUS as it displays a multi-dimensional view and helps in clinical diagnosis. It is used in medical procedures such as angiograms, cardiac surgeries, and placement of stents.
On the basis of display, the market is segmented into Black and White (B/W) and color ultrasound systems. Color systems are mostly preferred over B/W due to the clarity of images. B/W systems can be used in different systems such as 2D, 3D/4D, and Doppler devices. Many leading companies such as Siemens Healthcare and Philips Healthcare have B/W devices. These devices are used in health centers with budget constraints to shift to the color mode.
Color cardiovascular ultrasound provides more clarity and helps in better diagnosis. Hitachi has its series of color systems which are available across the globe. The color segment is anticipated to grow lucratively over the forecast period.
Based on end-use, the market is segmented into hospitals, diagnostic centers, and ambulatory care centers. Hospitals held the largest market share in 2017. Mid-to-large sized hospitals install medical imaging equipment within the premises as medical imaging can be a major source of outpatient profits.
Majority of large hospitals have their own medical imaging facilities. However medical imaging facilities require investment, space, skilled professionals, and high maintenance charges. This increases financial burden on hospitals to manage such facilities. Hence, hospitals prefer partnering with diagnostic centers. This helps in cost-saving, especially small and mid-sized hospitals.
Geographically, the market is segmented into Europe, North America, Asia Pacific, Middle East and Africa, and Latin America. North America held the largest revenue share in 2020 owing to high adoption in preventive medicine and improved infrastructure in healthcare facilities. However, Asia Pacific is expected to expand at the fastest CAGR over the forecast period owing to the increasing prevalence of chronic conditions.
In the U.S., the payments for Medicare are decided on various factors including Relative Value Units (RVUs), conversion factors, and Geographic Practice Cost Indices (GPCI). Medicare comes with new regulations that decide the reimbursement policy. The supportive reimbursement policy and regulatory framework help in propelling this region’s growth over the forecast period.
Philips; GE Healthcare, Inc.; Hitachi; Fujifilm Medical Systems; Siemens Healthcare; and Canon Medical Systems Corporation.
Cardiovascular Ultrasound Type Outlook
Cardiovascular Ultrasound Technology Outlook
Cardiovascular Ultrasound Display Outlook
Cardiovascular Ultrasound End-use Outlook
Ambulatory Care Centers
Cardiovascular Ultrasound Regional Outlook
The Middle East and Africa (MEA)
The Cardiovascular Ultrasound market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Cardiovascular Ultrasound market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Cardiovascular Ultrasound market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Cardiovascular Ultrasound market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Cardiovascular Ultrasound market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Cardiovascular Ultrasound capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Cardiovascular Ultrasound by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Cardiovascular Ultrasound market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Cardiovascular Ultrasound market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Cardiovascular Ultrasound market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Cardiovascular Ultrasound industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Cardiovascular Ultrasound market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Cardiovascular Ultrasound market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Cardiovascular Ultrasound market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Cardiovascular Ultrasound market. These factors have benefited the growth of the global market for Cardiovascular Ultrasound. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Cardiovascular Ultrasound. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Cardiovascular Ultrasound are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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