The major factors for the growth of the cardiovascular ultrasound system market include – the increasing incidence of cardiovascular diseases (CVDs), rise in technological advancements, and advantages of echocardiography over invasive cardiac diagnostic procedures.
Cardiovascular diseases (CVD) remain a substantial cause of morbidity and mortality in the developed world and are becoming an increasingly important cause of death in developing countries as well. According to the World Health Organization, around 17.9 million people died due to cardiovascular diseases in 2016, globally. Almost 85% of death related to cardiovascular diseases occurs due to heart attack and stroke. Consequently, the increase in the number of cardiovascular diseases has increased the demand for cardiovascular ultrasound system for the diagnosis.
Key Market Trends
2D Ultrasound Imaging Segment is Expected to be Fastest Growing Segment
2D ultrasound imaging is also known as B-mode echography or sonography. It displays a 2D map of B-mode data and is currently the most common form of cardiac ultrasound imaging used, worldwide. It uses multiple transducers. It enables the generation of multiple images of the field or frames every second on the screen, giving an illusion of movement. It is primarily used to measure cardiac chamber dimensions, assess valvular structure and function, and improve the accuracy of interpretation of Doppler modalities. 2D ultrasound is one of the most common forms of technology used. However, it has disadvantages, like low resolution, distortion of ultrasound wave resulting in inaccurate images, view of the internal bone structure, and regional placement. Moreover, technological advancements, like Doppler imaging and 3D/4D ultrasound imaging, are expected to affect the global 2D imaging market during the forecast period.
North America is Expected to Dominate the Market
The healthcare facilities in the country are of the highest standards, and they are accessible to a large population, owing to favorable policies that make healthcare affordable to many. This helps in gaining a higher selling rate across the country. Coronary heart disease (CHD) is the most common type of heart disease. According to the American Heart Association (AHA), cardiovascular disease accounts for around 17.3 million deaths per year. The increasing number of cardiac diseases, continuous advancements in the technology, high income of the citizens are some of the driving factors for the United States cardiac ultrasound devices market. Increasing prevalence of chronic diseases is a prime reason for the growing need and demand for these devices. The need to diagnose and monitor these diseases give rise to demand, which can be fulfilled by the product manufacturer companies in the country. Because of the favorable factors, the market in the United States is expected to grow at a steady rate in the coming years.
The market studied is a moderately consolidated market, owing to the presence of many small and large market players. Some of the market players are Canon Medical Systems, Chison, Esaote SpA, GE Healthcare, Hitachi Medical Corporation, Koninklijke Philips NV, KPI Healthcare Inc., Samsung Healthcare, Siemens Healthcare, and Whale Imaging.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support