The global echocardiography market size was valued at US$ 1.6 Bn in 2010 and to reach valuation US$ 2.3 billion by 2030.
Echocardiography is a medical test that utilizes sound waves to create a live image of the heart known as electrocardiogram (ECG). This test enables doctors to monitor the condition of the heart of the patient and understand its function. This test or procedure is widely used to diagnose any heart condition, especially a heart attack, even in unborn babies. ECG is also utilized to diagnose heart defects. Transthoracic echocardiography is a highly preferred and painless type of echocardiography. North America dominated the global echocardiography market in 2020, followed by Europe and Asia Pacific. North America is the leading market for cardiovascular devices, including echocardiography devices, primarily due to high awareness about available medical treatments, significant infrastructure investment supporting medical treatments, and adoption of new and innovative products.
ML Research Holds Promising Potentials for Automated Echo Analysis, Interpretation Systems
A plethora of algorithms are being proposed to analyze medical ultrasound data using signal processing and machine learning (ML) techniques. However, there is a need to develop robust systems suitable for efficient use in clinical settings of point-of-care testing. Thus, med-tech companies in the echocardiography market are bolstering their R&D activities to advance in the field of automatic echo analysis.
It has been found that machine learning algorithms are being used by med-tech companies to develop automated echo analysis and interpretation systems.
Point-of-care Ultrasound Accelerates Cardiac Scanning with Auto Labeling, Guiding
Over the past few years, cardiac ultrasound vendors in the echocardiography market have introduced several new products to accelerate the flow of cardiac imaging. Artificial intelligence (AI) is becoming a fast growing phenomenon in the field of echocardiography, which is helping to automate the functions of devices and systems. EchoNous— a software development company is gaining recognition for its Kosmos system, which delivers point-of-care ultrasound (POCUS) by uniting AI with handheld ultrasound that empowers physicians to act quickly.
Companies in the echocardiography market are teaming up with software companies to develop AI apps that are capable of calculating ejection fraction in seconds. These apps are accelerating medical diagnosis, as they support physicians through cardiac scanning with auto labeling, guiding, and grading.
Advancements in Pulse Doppler Help Deliver High Resolution Heart Images
The concept of handheld ultrasound is growing popular in the echocardiography market. Echocardiography is emerging as a substantial competitive threat to diagnostic nuclear cardiology. On the other hand, advancements in pulse Doppler are enabling reliable probes that could be inserted into the esophagus to improve the resolution of heart images. Companies in the echocardiography market are increasing their R&D in acoustic quantification of techniques that help detect and monitor the boundary between the inner edge of the myocardium and blood pool.
Healthcare companies are taking additional efforts to increase accuracy of echocardiography outcomes that can determine the amount of blood supplied to different regions of the heart walls.
Miniature Probes to Displace Angiography for Coronary Artery Disease Diagnosis
Companies in the echocardiography market are innovating in miniature probes that can be inserted into the heart through the coronary vasculature. Analysts at the Transparency Market Research (TMR) are deep diving into insights given by clinicians who predict that intraluminal ultrasound imaging using miniature probes will eventually displace angiography as the gold standard for coronary artery disease diagnosis.
Med-tech companies in the echocardiography market are attempting to use ultrasound signal to characterize tissues through which, the signal has passed. Such innovations hold promising potentials to identify tumors and distinguish between scar tissue and ischemic myocardium. Echocardiography is posing as a direct competitor to nuclear cardiology, owing to the former’s detailed assessments of movement in segments of the left and right ventricles of the heart.
Overview
Market Segmentation
The global echocardiography market has been segmented based on test type, product type, technology, end user, and region
Regional Segmentation
Major Players
By Test Type
By Product Type
By Technology
By End User
By Region
Scope of the Report
VRR’s report on the global echocardiography market studies the past as well as current growth trends and opportunities to gain valuable insights of these indicators for the market during the forecast period from 2020 to 2030. The report provides the overall revenue of the global echocardiography market for the period 2018–2030, considering 2021 as the base year and 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global echocardiography market for the forecast period.
The report has been prepared after an extensive research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global echocardiography market.
Secondary research also included Internet sources, statistical data from government agencies, websites, and trade associations. Analysts also employed a combination of the top-down and bottom-up approaches to study various phenomena in the global echocardiography market.
The report comprises an elaborate executive summary, along with a snapshot of the growth behavior of various segments and sub-segments included in the scope of the study. Additionally, the report sheds light on the changing competitive dynamics in the global echocardiography market. These indices serve as valuable tools for existing market players as well as for entities interested in participating in the global echocardiography market. The next section of the global echocardiography market report highlights the USPs, which include technological advancements, key industry events (mergers, acquisitions, strategic partnerships, etc.), top 3 players operating in the market space, and COVID-19 pandemic impact on the global echocardiography market.
The report delves into the competition landscape of the global echocardiography market. Key players operating in the global echocardiography market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players profiled in the global echocardiography market report.
Key Questions Answered in Echocardiography Market Report
Research Objectives and Research Approach
The comprehensive report on the global echocardiography market begins with an overview of the market, followed by the scope and objectives of the study. Following this, the report provides detailed explanation of the objectives of the study and healthcare compliances laid down by accredited agencies in the purview of research in the global echocardiography market. It is followed by market introduction, market dynamics, and an overview of the global echocardiography market, which includes TMR analysis of market drivers, restraints, and trends affecting the growth of the market. Furthermore, Y-o-Y analysis with elaborate insights has been provided to understand the Y-o-Y trends of the global echocardiography market.
For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section divided into smaller ones. The report comprises an exhaustive collection of graphs and tables that are appropriately interspersed in the compilation. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of the market shares of key segments in the past and at the end of the forecast period.
Revenue generated by key product manufacturers has been mapped to ascertain the size of the global echocardiography market in terms of value. The forecast presented here assesses the total revenue generated in the global echocardiography market. In order to provide an accurate forecast, we initiated by sizing up the current echocardiography market with the help of the parent market.
The report analyzes the global echocardiography market in terms of test type, product type, technology, end user, and region. Key segments under each criteria have been studied at length, and the market share for each of these at the end of 2030 has been provided. These valuable insights would help market stakeholders in making informed business decisions for investments in the global echocardiography market.
Table of Contents
1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary
4. Market Overview
4.1. Introduction
4.1.1. Market Definition
4.1.2. Industry Evolution / Developments
4.2. Overview
4.3. Market Dynamics
4.3.1. Drivers
4.3.2. Restraints
4.3.3. Opportunities
4.4. Global Echocardiography Market Analysis and Forecast, 2018–2030
4.4.1. Market Revenue Projections (US$ Bn)
5. Key Insights
5.1. Technological Advancements
5.2. Key Mergers & Acquisitions
5.3. Top 3 Players Operating in the Market Space
5.4. COVID-19 Pandemic Impact on Global Echocardiography Market
6. Global Echocardiography Market Analysis and Forecast, by Test Type
6.1. Introduction & Definition
6.2. Key Findings / Developments
6.3. Global Echocardiography Market Value (US$ Bn) Forecast, by Test Type, 2018–2030
6.3.1. Transthoracic Echocardiogram
6.3.2. Stress Echocardiogram
6.3.3. Transesophageal Echocardiogram
6.3.4. Others
6.4. Market Attractiveness Analysis, by Test Type
7. Global Echocardiography Market Analysis and Forecast, by Product Type
7.1. Introduction & Definition
7.2. Key Findings / Developments
7.3. Global Echocardiography Market Value (US$ Bn) Forecast, by Product Type, 2018–2030
7.3.1. Cart/trolley-based Echocardiography Devices
7.3.2. Handheld/portable Echocardiography Devices
7.4. Global Echocardiography Market Attractiveness Analysis, by Product Type
8. Global Echocardiography Market Analysis and Forecast, by Technology
8.1. Introduction & Definition
8.2. Key Findings / Developments
8.3. Global Echocardiography Market Value (US$ Bn) Forecast, by Technology, 2018–2030
8.3.1. 2D
8.3.2. 3D & 4D
8.3.3. Doppler
8.4. Global Echocardiography Market Attractiveness Analysis, by Technology
9. Global Echocardiography Market Analysis and Forecast, by End-user
9.1. Introduction & Definition
9.2. Key Findings / Developments
9.3. Global Echocardiography Market Value (US$ Bn) Forecast, by End-user, 2018–2030
9.3.1. Hospitals
9.3.2. Diagnostic Centers
9.3.3. Clinics
9.3.4. Others
9.4. Global Echocardiography Market Attractiveness Analysis, by End-user
10. Global Echocardiography Market Analysis and Forecast, by Region
10.1. Key Findings
10.2. Global Echocardiography Market Value (US$ Bn) Forecast, by Region
10.2.1. North America
10.2.2. Europe
10.2.3. Asia Pacific
10.2.4. Latin America
10.2.5. Middle East & Africa
10.3. Global Echocardiography Market Attractiveness Analysis, by Region
11. North America Echocardiography Market Analysis and Forecast
11.1. Introduction
11.1.1. Key Findings
11.2. North America Echocardiography Market Value (US$ Bn) Forecast, by Test Type, 2018–2030
11.2.1. Transthoracic Echocardiogram
11.2.2. Stress Echocardiogram
11.2.3. Transesophageal Echocardiogram
11.2.4. Others
11.3. North America Echocardiography Market Value (US$ Bn) Forecast, by Product Type, 2018–2030
11.3.1. Cart/trolley-based Echocardiography Devices
11.3.2. Handheld/portable Echocardiography Devices
11.4. North America Echocardiography Market Value (US$ Bn) Forecast, by Technology, 2018–2030
11.4.1. 2D
11.4.2. 3D & 4D
11.4.3. Doppler
11.5. North America Echocardiography Market Value (US$ Bn) Forecast, by Technology, 2018–2030
11.5.1. Hospitals
11.5.2. Diagnostic Centers
11.5.3. Clinics
11.5.4. Others
11.6. North America Echocardiography Market Value (US$ Bn) Forecast, by Country, 2018–2030
11.6.1. U.S.
11.6.2. Canada
11.7. North America Echocardiography Market Attractiveness Analysis
11.7.1. By Test Type
11.7.2. By Product Type
11.7.3. By Technology
11.7.4. By End-user
11.7.5. By Country
12. Europe Echocardiography Market Analysis and Forecast
12.1. Introduction
12.1.1. Key Findings
12.2. Europe Echocardiography Market Value (US$ Bn) Forecast, by Test Type, 2018–2030
12.2.1. Transthoracic Echocardiogram
12.2.2. Stress Echocardiogram
12.2.3. Transesophageal Echocardiogram
12.2.4. Others
12.3. Europe Echocardiography Market Value (US$ Bn) Forecast, by Product Type, 2018–2030
12.3.1. Cart/trolley-based Echocardiography Devices
12.3.2. Handheld/portable Echocardiography Devices
12.4. Europe Echocardiography Market Value (US$ Bn) Forecast, by Technology, 2018–2030
12.4.1. 2D
12.4.2. 3D & 4D
12.4.3. Doppler
12.5. Europe Echocardiography Market Value (US$ Bn) Forecast, by End-user, 2018–2030
12.5.1. Hospitals
12.5.2. Diagnostic Centers
12.5.3. Clinics
12.5.4. Others
12.6. Europe Echocardiography Market Value (US$ Bn) Forecast, by Country/Sub-region, 2018–2030
12.6.1. Germany
12.6.2. U.K.
12.6.3. France
12.6.4. Spain
12.6.5. Italy
12.6.6. Rest of Europe
12.7. Europe Echocardiography Market Attractiveness Analysis
12.7.1. By Test Type
12.7.2. By Product Type
12.7.3. By Technology
12.7.4. By End-user
12.7.5. By Country/Sub-region
13. Asia Pacific Echocardiography Market Analysis and Forecast
13.1. Introduction
13.1.1. Key Findings
13.2. Asia Pacific Echocardiography Market Value (US$ Bn) Forecast, by Test Type, 2018–2030
13.2.1. Transthoracic Echocardiogram
13.2.2. Stress Echocardiogram
13.2.3. Transesophageal Echocardiogram
13.2.4. Others
13.3. Asia Pacific Echocardiography Market Value (US$ Bn) Forecast, by Product Type, 2018–2030
13.3.1. Cart/trolley-based Echocardiography Devices
13.3.2. Handheld/portable Echocardiography Devices
13.4. Asia Pacific Echocardiography Market Value (US$ Bn) Forecast, by Technology, 2018–2030
13.4.1. 2D
13.4.2. 3D & 4D
13.4.3. Doppler
13.5. Asia Pacific Echocardiography Market Value (US$ Bn) Forecast, by End-user, 2018–2030
13.5.1. Hospitals
13.5.2. Diagnostic Centers
13.5.3. Clinics
13.5.4. Others
13.6. Asia Pacific Echocardiography Market Value (US$ Bn) Forecast, by Country/Sub-region, 2018–2030
13.6.1. China
13.6.2. Japan
13.6.3. India
13.6.4. Australia & New Zealand
13.6.5. Rest of Asia Pacific
13.7. Asia Pacific Echocardiography Market Attractiveness Analysis
13.7.1. By Test Type
13.7.2. By Product Type
13.7.3. By Technology
13.7.4. By End-user
13.7.5. By Country/Sub-region
14. Latin America Echocardiography Market Analysis and Forecast
14.1. Introduction
14.1.1. Key Findings
14.2. Latin America Echocardiography Market Value (US$ Bn) Forecast, by Test Type, 2018–2030
14.2.1. Transthoracic Echocardiogram
14.2.2. Stress Echocardiogram
14.2.3. Transesophageal Echocardiogram
14.2.4. Others
14.3. Latin America Echocardiography Market Value (US$ Bn) Forecast, by Product Type, 2018–2030
14.3.1. Cart/trolley-based Echocardiography Devices
14.3.2. Handheld/portable Echocardiography Devices
14.4. Latin America Echocardiography Market Value (US$ Bn) Forecast, by Technology, 2018–2030
14.4.1. 2D
14.4.2. 3D & 4D
14.4.3. Doppler
14.5. Latin America Echocardiography Market Value (US$ Bn) Forecast, by Technology, 2018–2030
14.5.1. Hospitals
14.5.2. Diagnostic Centers
14.5.3. Clinics
14.5.4. Others
14.6. Latin America Echocardiography Market Value (US$ Bn) Forecast, by Country/Sub-region, 2018–2030
14.6.1. Brazil
14.6.2. Mexico
14.6.3. Rest of Latin America
14.7. Latin America Echocardiography Market Attractiveness Analysis
14.7.1. By Test Type
14.7.2. By Product Type
14.7.3. By Technology
14.7.4. By End-user
14.7.5. By Country/Sub-region
15. Middle East & Africa Echocardiography Market Analysis and Forecast
15.1. Introduction
15.1.1. Key Findings
15.2. Middle East & Africa Echocardiography Market Value (US$ Bn) Forecast, by Test Type, 2018–2030
15.2.1. Transthoracic Echocardiogram
15.2.2. Stress Echocardiogram
15.2.3. Transesophageal Echocardiogram
15.2.4. Others
15.3. Middle East & Africa Echocardiography Market Value (US$ Bn) Forecast, by Product Type, 2018–2030
15.3.1. Cart/trolley-based Echocardiography Devices
15.3.2. Handheld/portable Echocardiography Devices
15.4. Middle East & Africa Echocardiography Market Value (US$ Bn) Forecast, by Technology, 2018–2030
15.4.1. 2D
15.4.2. 3D & 4D
15.4.3. Doppler
15.5. Middle East & Africa Echocardiography Market Value (US$ Bn) Forecast, by Technology, 2018–2030
15.5.1. Hospitals
15.5.2. Diagnostic Centers
15.5.3. Clinics
15.5.4. Others
15.6. Middle East & Africa Echocardiography Market Value (US$ Bn) Forecast, by Country/Sub-region, 2018–2030
15.6.1. GCC Countries
15.6.2. South Africa
15.6.3. Rest of Middle East & Africa
15.7. Middle East & Africa Echocardiography Market Attractiveness Analysis
15.7.1. By Test Type
15.7.2. By Product Type
15.7.3. By Technology
15.7.4. By End-user
15.7.5. By Country/Sub-region
16. Competitive Landscape
16.1. Market Player - Competition Matrix (by tier and size of companies)
16.2. Company Profiles
16.2.1. GE Healthcare (Cart/trolley-based Echocardiography Devices Electric Company)
16.2.1.1. Company Overview (HQ, Business Segments, Employee Strength)
16.2.1.2. Financial Overview
16.2.1.3. Product Portfolio
16.2.1.4. Strategic Overview
16.2.1.5. SWOT Analysis
16.2.2. Koninklijke Philips N.V.
16.2.2.1. Company Overview (HQ, Business Segments, Employee Strength)
16.2.2.2. Financial Overview
16.2.2.3. Product Portfolio
16.2.2.4. Strategic Overview
16.2.2.5. SWOT Analysis
16.2.3. Siemens Healthcare Private Limited
16.2.3.1. Company Overview (HQ, Business Segments, Employee Strength)
16.2.3.2. Financial Overview
16.2.3.3. Product Portfolio
16.2.3.4. Strategic Overview
16.2.3.5. SWOT Analysis
16.2.4. Canon Medical Systems Corporation
16.2.4.1. Company Overview (HQ, Business Segments, Employee Strength)
16.2.4.2. Financial Overview
16.2.4.3. Product Portfolio
16.2.4.4. Strategic Overview
16.2.4.5. SWOT Analysis
16.2.5. Esaote S.p.A
16.2.5.1. Company Overview (HQ, Business Segments, Employee Strength)
16.2.5.2. Product Portfolio
16.2.5.3. Strategic Overview
16.2.5.4. SWOT Analysis
16.2.6. Samsung Electronics Co., Ltd.
16.2.6.1. Company Overview (HQ, Business Segments, Employee Strength)
16.2.6.2. Financial Overview
16.2.6.3. Product Portfolio
16.2.6.4. Strategic Overview
16.2.6.5. SWOT Analysis
16.2.7. Fujifilm Holdings Corporation
16.2.7.1. Company Overview (HQ, Business Segments, Employee Strength)
16.2.7.2. Financial Overview
16.2.7.3. Product Portfolio
16.2.7.4. Strategic Overview
16.2.7.5. SWOT Analysis
16.2.8. Hitachi Medical Corporation
16.2.8.1. Company Overview (HQ, Business Segments, Employee Strength)
16.2.8.2. Financial Overview
16.2.8.3. Product Portfolio
16.2.8.4. Strategic Overview
16.2.8.5. SWOT Analysis
16.2.9. Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
16.2.9.1. Company Overview (HQ, Business Segments, Employee Strength)
16.2.9.2. Product Portfolio
16.2.9.3. Strategic Overview
16.2.9.4. SWOT Analysis
16.2.10. Bay Labs, Inc.
16.2.10.1. Company Overview (HQ, Business Segments, Employee Strength)
16.2.10.2. Product Portfolio
16.2.10.3. Strategic Overview
16.2.10.4. SWOT Analysis
16.2.11. Bracco Imaging S.p.A.
16.2.11.1. Company Overview (HQ, Business Segments, Employee Strength)
16.2.11.2. Product Portfolio
16.2.11.3. Strategic Overview
16.2.11.4. SWOT Analysis
16.2.12. ContextVision AB
16.2.12.1. Company Overview (HQ, Business Segments, Employee Strength)
16.2.12.2. Financial Overview
16.2.12.3. Product Portfolio
16.2.12.4. Strategic Overview
16.2.12.5. SWOT Analysis
16.2.13. Digirad Corporation
16.2.13.1. Company Overview (HQ, Business Segments, Employee Strength)
16.2.13.2. Product Portfolio
16.2.13.3. Strategic Overview
16.2.13.4. SWOT Analysis
16.2.14. TELEMED Medical Systems
16.2.14.1. Company Overview (HQ, Business Segments, Employee Strength)
16.2.14.2. Product Portfolio
16.2.14.3. Strategic Overview
16.2.14.4. SWOT Analysis