Global Cardiovascular Ultrasound Market by Technology (Doppler, 3/4D), by Display (B/W, Color), by End-use (Ambulatory Care Centers, Hospitals) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global cardiovascular ultrasound market was valued at USD1.3 billion in 2020. It is projected to grow at 6.7% compound annual growth rate (CAGR), between 2021 and 2028. Market growth is expected to be driven by a rise in preventive medicine use and an increase in the prevalence of Cardiovascular Diseases. Global market growth was hampered by the COVID-19 pandemic, which saw outpatient imaging services negatively affected. The leading causes of death in America are cardiovascular diseases such as heart attack, stroke, and coronary heart disease. According to the CDC, 28.2 Million Americans were diagnosed with heart disease in 2017. Ultrasound technology can be used to examine abnormalities in the functioning and functioning of the heart.

These devices are important diagnostic tools that help to reduce the risk of stroke and heart attacks. The market will be driven by the increasing prevalence of heart conditions over the forecast period. The COVID-19 patients were assessed using cardiovascular ultrasound (CVUS). Any condition that affects the heart system increases the chance of death. Market growth is expected to be driven by cardiac damage after COVID-19 recovery.

A Mount Sinai Hospital international study found that two-thirds (33%) of COVID-19 patients who were rescued had a cardiac structural abnormality. These patients are being evaluated extensively using cardiovascular ultrasound. This will increase the demand for advanced CVUS systems over the forecast period. Globally, there are many reimbursement policies for ultrasound. To determine reimbursement policies for different types cardiac ultrasounds, the U.S. used HOPPS payment technique.

Because there are many types of cardiac ultrasound procedures, such as electrocardiography, transthoracic echocardiography and 3D echocardiography and others, the scope of these procedures will be determined by terms and conditions that an individual's insurance policy covers. There are many guidelines used by insurance companies to determine reimbursement rates. They may deny insurance due to predisposing circumstances. Sometimes, insurance denial can be due to the fact that insurance agencies and specialists have different treatment rationalities.

Type Insights

The global market can be divided into three types: transthoracic echocardiography (TTE), transesophageal Echocardiography (TTE), fetal echocardiography (Fet) and others. In 2020, the transthoracic echocardiography segment dominated the global market. This segment was responsible for over 55% of global revenue share in 2020. The fastest CAGR for the segment of fetal echocardiography is 7.3% over the forecast period.

Fetal echocardiograms are one of the most common pregnancy tests. It is done in the second trimester and checks whether all four chambers have been developed in the fetus. This allows visualization of the structure and function of the unborn baby's heart. This segment is growing because of increasing awareness about the health of fetuses.

Technology Insights

The market can be divided into three segments based on technology: Doppler ultrasound systems, 3D/4D and 2D. Doppler is the preferred system because they produce sharp images in a shorter amount of time. In 2020, the market accounted for over 46% of the total revenue. Due to technological advances in these countries, Doppler is becoming more popular in developing countries like India and China.

Doppler echocardiography is a non-invasive method that measures blood flow in the heart. Workshops on Doppler echocardiography will also be beneficial. Radcliffe Cardiology held a workshop in March 2019 on Doppler echocardiography and 2D. The workshop covered topics such as hemodynamics and cardiac function, Doppler echocardiography, and its application in hemodynamics. The overall segment growth will be boosted by Doppler technology advancements to improve cardiac imaging.

Display Insights

The market can be divided into two segments based on display: Black and White (B/W), and color ultrasound systems. In 2020, the color systems segment had a higher revenue share than 88%. Because of the clarity of these systems' images, color systems are more popular than B/W. Color cardiovascular ultrasound is also helpful in diagnosing problems. Hitachi offers a variety of color systems that are widely available around the world.

All these factors combined mean that the color systems segment will see the fastest CAGR at around 7% during the forecast period. B/W systems are compatible with Doppler, 3D/4D and 2D ultrasound devices. Many top companies such as Philips Healthcare and Siemens Healthcare have B/W systems. These devices can be used in hospitals that have budget restrictions to switch to color mode.

End-use Insights

The market can be divided into three segments based on end use: hospitals, ambulatory health centers, diagnostic centers and others. In 2020, the hospitals segment was responsible for more than 42.0% of all revenue. Because medical imaging is a major source for outpatient profit, many mid-to-large-sized hospitals have installed medical imaging equipment on their premises.

Large-scale hospitals almost all have their own medical imaging centers. Medical imaging facilities can be costly and time-consuming to maintain. They also require large spaces, skilled professionals, and heavy investments. Hospitals are more financially burdened by these factors when managing such facilities. Hospitals prefer to partner with diagnostic centers for medical image facilities. This allows hospitals to save money, especially for small and medium-sized hospitals.

Regional Insights

The market can be divided by region into North America and Europe, Asia Pacific and Middle East and Africa. North America accounted for more than 29% of the total revenue in 2020, thanks to its improved infrastructure and high use of CVUS in preventive medicine.

The U.S. decides Medicare payments based on a variety of factors such as relative value units, conversion factors and geographic practice cost indexes. New regulations govern the Medicare reimbursement policy. Over the forecast period, the market will grow due to the supportive reimbursement policy as well as the regulatory framework.

Asia Pacific will be the fastest-growing region market, with a CAGR exceeding 7% during the forecast period. This is due to the rising prevalence of chronic diseases in the region.

Market Share Insights & Key Companies

To expand their market reach and increase product portfolios for CVUS systems, key market players are pursuing various business strategies. Royal Philips, for instance, launched Ultrasound 3300 India in October 2020. This product is suitable for a variety of purposes, including general imaging, cardiovascular imaging, and OB/GYN. The following companies are major players in the global market for cardiovascular ultrasound:

• GE Healthcare

• Koninklijke Philips

• Siemens Healthineers AG

• Hitachi Medical Corp.

• Samsung Medison Co. Ltd.

• Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (Mindray)

• Chison Wuxi Xiangsheng Medical Technology Co., Ltd.

• Fujifilm Sonosite, Inc.

Up Market Research published a new report titled “Cardiovascular Ultrasound Market research report which is segmented by Technology (Doppler, 3/4D), by Display (B/W, Color), by End-use (Ambulatory Care Centers, Hospitals), By Players/Companies Philips; GE Healthcare, Inc; Hitachi; Fujifilm Medical Systems; Siemens Healthcare; and Canon Medical Systems Corporation”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Cardiovascular Ultrasound Market Report Segments:

The market is segmented by Technology (Doppler, 3/4D), by Display (B/W, Color), by End-use (Ambulatory Care Centers, Hospitals).

Cardiovascular Ultrasound Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Cardiovascular Ultrasound Market

Overview of the regional outlook of the Cardiovascular Ultrasound Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Cardiovascular Ultrasound Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Cardiovascular Ultrasound Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Doppler

                2. 3/4D

                1. B/W

                2. Color

                1. Ambulatory Care Centers

                2. Hospitals

9. Market scenario by region, sub-region, and country.
10. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
11. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
12. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Cardiovascular Ultrasound Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
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Reasons to Purchase the Cardiovascular Ultrasound Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.