Newly-released Cardiovascular Ultrasound Market analysis report by Future Market Insights shows that global revenue in the Cardiovascular Ultrasound Market in 2022 was held at USD 1.2 Billion. With a CAGR of 7.2% from 2023 to 2033, the market is expected to reach a USD 2.6 billion valuation by 2033. Transthoracic Echocardiography is expected to be the highest revenue-generating segment, accounting for an expected CAGR rate of 7.3% from 2023 to 2033.
| Attribute | Details |
|---|---|
| Global Cardiovascular Ultrasound Market (2023) | USD 1.3 Billion |
| Global Cardiovascular Ultrasound Market CAGR (2023 to 2033) | 7.2% |
| Global Cardiovascular Ultrasound Market (2033) | USD 2.6 Billion |
| USA Cardiovascular Ultrasound Market (2033) | USD 641 Million |
| Key Companies Profiled | 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.; Fujifilm Sonosite, Inc |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
The growing inclination for non-invasive diagnostic procedures is driving the global cardiovascular ultrasound market. Furthermore, manufacturers' increasing focus on developing creative and revolutionary cardiovascular ultrasound systems would be a prominent factor affecting the market growth. The rising geriatric population and an increase in the number of government agencies spreading awareness are prominent factors boosting the growth of the cardiovascular ultrasound system market.
In addition, changing lifestyles and rising healthcare infrastructure spending are the key market drivers that will propel the cardiovascular ultrasound system market forward.
Because of the rise in preventive medicine and the increased acceptance of modern technologies in the region, North America dominates the cardiovascular ultrasound system market as a result of enhanced healthcare infrastructure and the widespread use of CVUS in preventive medicine.
Principal Consultant
Medicare payments are based on a variety of criteria in the USA, including relative value units, conversion factors, and local practice cost indexes. The medicare program has new laws that govern reimbursement policies. Over the projected period, the favorable reimbursement policy and regulatory frameworks are expected to aid market expansion in the country.
The market in the United kingdom is expected to reach a valuation of USD 121.5 Million by 2033. Growing with a CAGR of 8.3% in the forecast period, the market in the country is projected to garner an absolute dollar opportunity of USD 26.8 Million.
In Japan, the market is expected to grow at a CAGR of 9.3% from 2023 to 2033, reaching USD 128.3 Million by 2033. The market in the country is expected to gross an absolute dollar opportunity of USD 75.3 Million during the forecast period.
The cardiovascular ultrasound market through transthoracic echocardiography accounted for a significant market in 2022. During the projected period, the transthoracic echocardiography segment is expected to grow at the fastest rate of 7.3%.
Fetal echocardiography is a pregnancy test that is conducted in the second trimester to determine whether the fetus has developed all four chambers of the heart. It allows seeing the heart anatomy of an unborn child. The expansion of this market is being fuelled by rising levels of awareness concerning fetus health.
Doppler is the prominent cardiovascular ultrasound system as it produces clear images in less time Doppler accounted for the largest revenue share in 2020. Due to the rising prevalence of technologically advanced systems in developing nations like India and China, the technique is gaining traction.
Doppler echocardiography is a non-invasive method for measuring blood flow within the heart. Radcliffe Cardiology also ran a workshop on two-dimensional echocardiography in Vail in March 2019. The specific use of Doppler ultrasound for hemodynamics and cardiac function, in addition to its use in hemodynamics, such as valvular heart disease, were among the topics they covered. As a result, improvements in Doppler technology to improve cardiac imaging are likely to drive category growth.
The color cardiovascular ultrasound systems segment held a prominent revenue share in the recent past. Due to the clarity of images offered by color systems, they are generally chosen over B/W systems. Furthermore, color cardiovascular ultrasonography aids in accurate diagnosis. Hitachi offers a number of color systems that are available globally.
Owing to these factors, the color systems segment is expected to grow at a significant pace throughout the projected period. The 2D, 3D/4D, and Doppler ultrasound equipment can be used with B/W systems. B/W devices are used by many notable companies, including Siemens Healthcare and Philips Healthcare. To switch to color mode, these gadgets are employed in health clinics with limited budgets.
Market revenue through hospitals accounts for a significant share. Since medical imaging is a significant source of outpatient revenue, a number of mid to large-sized hospitals have medical imaging equipment installed on their grounds.
Medical imaging facilities are available mostly at large-scale hospitals. Medical imaging centers, on the other hand, demand significant upkeep, space, and qualified personnel. These issues add to the hospital's financial burden in administering such facilities. As a result, hospitals choose to cooperate with diagnostic centers to provide medical imaging services. This saves money, especially in small and medium-sized hospitals.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
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:
Similarly, recent developments related to companies offering Cardiovascular Ultrasound have been tracked by the team at Future Market Insights, which is available in the full report.
North America
Latin America
Europe
Asia Pacific Excluding Japan (APAC)
Middle East & Africa (MEA)
During 2018 to 2022, the market registered a CAGR of 7.3%.
The market is estimated to reach USD 2.6 billion by 2033.
Hospital sector holds high revenue potential.
The United States, Japan, and the United Kingdom dominate the global market.
The market is forecast to register a CAGR of 7.2% through 2033.
1. Executive Summary 2. Market Overview 2.1. Market Risks and Trends Assessment 2.2. Market Background 2.3. Key Success Factors 2.4. Global Market Demand Analysis 2018 to 2022 and Forecast, 2023 to 2033 2.5. Global Market Value Analysis 2018 to 2022 and Forecast, 2023 to 2033 2.6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 2.6.1. Fetal Echocardiography 2.6.2. Transthoracic Echocardiography 2.6.3. Transesophageal Echocardiography 2.6.4. Others 2.7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Technology 2.7.1. 2D 2.7.2. 3D/4D 2.7.3. Doppler 2.8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Display Type 2.8.1. B/W 2.8.2. Color 2.9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-use 2.9.1. Hospitals 2.9.2. Diagnostic Centres 2.9.3. Ambulatory Care Centers 2.9.4. Other End-Uses 2.10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 2.10.1. North America 2.10.2. Latin America 2.10.3. Europe 2.10.4. APAC 2.10.5. Middle East and Africa (MEA) 3. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 4. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 5. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033 6. APAC Market Analysis 2018 to 2022 and Forecast 2023 to 2033 7. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033 8. Key Countries Market Analysis 2018 to 2022 and Forecast 2023 to 2033 9. Market Structure Analysis 10. Competition Analysis 10.1. GE Healthcare 10.2. Koninklijke Philips 10.3. Siemens Healthineers AG 10.4. Hitachi Medical Corp. 10.5. Samsung Medison Co. Ltd. 10.6. Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (Mindray) 10.7. Chison Wuxi Xiangsheng Medical Technology Co., Ltd. 10.8. Fujifilm Sonosite, Inc 11. Assumptions and Acronyms Used 12. Research Methodology
Explore Healthcare Insights
View Reports
Cardiovascular Ultrasound Market
