The Cardiovascular Ultrasound System Market is projected to grow at a rate of 4.80% in terms of value, from 2023 to reach USD 2,366.8 Million by 2032. Cardiovascular ultrasound system or the echocardiogram is a noninvasive ultrasound method of examining the circulation in the blood vessels of the body. In a cardiovascular ultrasound system, the sound waves are transmitted through the tissues of the cardiovascular area. The sound waves reflect off from the moving blood cells moving in the blood vessels and get back to the ultrasound machine and those sound waves are recorded & displayed on a computer screen to make the imaging of the blood vessel. The blockage in the blood vessels can be evaluated if the circulation of blood is faster within the vessels.
The global cardiovascular ultrasound system market is growing at a substantial pace as the number of cardiovascular diseases and the use of ultrasound system are drastically being propelled. An increased awareness about healthcare & wellness, changing disease patterns, government supports, and escalating volumes of implementation of the cardiovascular ultrasound system in various healthcare centers is expected to accelerate the growth of this market. Among the end-users, the hospitals sub-segment is leading in the market owing to the incorporation and adoption of the highest number of cardiovascular ultrasound system units in the car departments. Medical stores & brand outlet is dominating the market but a higher growth rate has been forecasted for the online retailing sub-segment.
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North American market is being propelled by increasing incidents of geriatric cardiovascular diseases and increasing expenditure in healthcare cases. APAC, due to its record number of patients of cardiovascular disorders coupled with a drastic increase in the number of multispecialty healthcare centers in this region, is growing with the fastest CAGR of 4.80% throughout the forecast period. China, India, and Japan are some of the most valuable contributors in the Asia Pacific region.
Key Coverage of the Report
- Region and country wise statistics of the global Cardiovascular Ultrasound System market from the period 2023-2032. While 2023 & 2017 has been utilized as historical data, 2023 is considered the base year. 2023-2032 have been derived as forecasts.
- Estimation of the market size along with historical and forecasted trend analysis.
- Various types of alternatives available have been analyzed. Statistical analysis has been conducted on obtaining the individual share of these segments.
- The regulatory framework of each region.
- Regional up-coming research and application outlook.
- Status of on-going developments.
- Regional prevalence of ambulatory care services has been mapped.
- Demand and Supply GAP Analysis
- Regional Competitors Pricing Strategy
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments.
Salient Trends of the Cardiovascular Ultrasound System Market
- Diagnosis system in the Asia Pacific developing countries have been significantly improved in the last few decades. Modern amenities, availability of preventive medicines for cardiovascular diseases are the reasons patients are being cured with noninvasive procedures and without having to require any kind of surgeries. A large number of cardiac departments and diagnostic centers incorporating the cardiovascular ultrasound systems have been observed in countries like India and China. Clearly, the extensive use of cardiovascular ultrasound system in the end-use verticals are the key drivers of this market.
- Transthoracic echocardiogram is the standard cardiovascular ultrasound procedure. During the test, a hand-held transducer is placed on the chest which transmits high-frequency ultrasound waves. The transthoracic echocardiogram being the most common cardiovascular ultrasound procedure, have gained the most significant amount of market share of 48.4% in 2023 and would grow at a CAGR of 5.6% throughout the forecast period.
- High costs related to the advanced cardiovascular ultrasound system, regulatory framework, and minimally invasive surgery systems are some of the most prominent restraining factors for the market. Both the purchasing and maintenance cost of the ultrasound machine is quite high and only the specialty hospitals and leading diagnostic centers can adopt them.
- European region is forecasted to witness a significant growth in the overall market, with a CAGR of 4.6% during the forecast period. Germany holds some of the most prominent players in this region.
- North America, with its extensive demand for cardiovascular ultrasound system in both the hospitals & ambulatory surgical centers sub-segment and escalating volumes of geriatric cardiovascular patients, is accounted to grow with a CAGR of 5.2% during the period 2023 – 2032. The United States has the highest market share in this region.
- APAC, owing to a higher count of the patients with cardiac disorders coupled with remarkable advancements in the healthcare sectors in China, and India, is expected to grow with the fastest CAGR of 7.2% throughout the forecast period.
Companies considered and profiled in this market study
GE Healthcare, Siemens Healthineers AG, Canon Medical Systems, Koninklijke Philips N.V., Hitachi Medical Corporation, Mindray Medical International Limited, Samsung Medison, Fujifilm Corporation, Chison Medical Imaging Co. Ltd., and Kalamed Medical Systems, among others.
- The valuation for the global cardiovascular ultrasound system market was USD 1,620.4 Million in 2023, and it is forecasted to reach USD 2,366.8 Million by 2032.
- Clinics & diagnostic centers sub-segment had a market share of 32.7% by 2032, growing with a CAGR of 3.3% throughout the period 2023 to 2032.
- Dobutamine Stress Echocardiogram sub-segment is predicted to grow with a CAGR of 4.4% during the forecast period.
- Intravascular Ultrasound sub-segment is forecasted to increase at a CAGR of 4.2% during the forecast period.
- Color ultrasound imaging is growing with a significant CAGR of 7.0% throughout the period 2023 to 2032.
- The hospitals around the world incorporate the cardiovascular ultrasound system in all the cardiac care units. The hospitals sub-segment is expected to retain its domination with a market share of 49.8% by 2032, and the CAGR is forecasted to be 5.0% during the period 2023 – 2032.
Segments covered in the report:
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the industry trends in each of the sub-segments from 2023 to 2032. For the purpose of this report,have segmented the global cardiovascular ultrasound system market on the basis of type, sales channel, type of imaging, technology, end-users, and region:
Type Outlook (Revenue, USD Billion; 2023-2032)
- Transthoracic Echocardiogram
- Transesophageal Echocardiogram
- Stress Echocardiogram
- Dobutamine Stress Echocardiogram
- Intravascular Ultrasound
Sales Channel Outlook (Revenue, USD Billion; 2023-2032)
- Online Retailing
- Medical Stores & Brand Outlet
Type of Imaging Outlook (Revenue, USD Billion; 2023-2032)
Technology Outlook (Revenue, USD Billion; 2023-2032)
End-Users Outlook (Revenue, USD Billion; 2023-2032)
- Clinics & Diagnostic Centers
- Ambulatory Surgical Center
Regional Outlook (Revenue, USD Billion; 2023-2032)
- North America
- Asia Pacific
- Latin America
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