Cardiovascular Ultrasound Market Analysis: Key Insights on Growth Rates, Trends, and Major Opportunities
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Analyzing the Growth Rate of the Cardiovascular Ultrasound Market: What’s the Expected CAGR for the Next Decade?
The market size of cardiovascular ultrasound has significantly enlarged in the prior years. The projection is an increase from $2.46 billion in 2024 to $2.6 billion in 2025, marking a compound annual growth rate (CAGR) of 5.9%. The surge during the historical phase can be linked to elevating cases of cardiovascular disorders, an aging demographic, patient-centered imaging, non-intrusive procedures, and safety, heightened consciousness and education, coupled with reimbursement regulations.
Anticipated to experience strong expansion in the coming years, the cardiovascular ultrasound market is projected to reach a value of $3.45 billion in 2029, growing at a CAGR of 7.3%. The growth during this forecast period can be traced back to an emphasis on preventive healthcare, the increasing global elderly population, and initiatives around value-based healthcare. The forecast period will also see trends such as advancements in imaging technology, incorporation of artificial intelligence, expansion of point-of-care ultrasound (pocus), 3d/4d transesophageal echocardiography, telemedicine and remote monitoring, as well as improvements in data management and connectivity.
How Are the key drivers expanding the growth of the cardiovascular ultrasound Market?
The cardiovascular ultrasound market is expected to be spurred by the growing number of diagnostic imaging centers. These centers, equipped with state-of-the-art medical imaging technology, specialize in detecting and tracking various health conditions, including cardiovascular diseases. Echocardiography, a type of cardiovascular ultrasound, is a vital diagnostic imaging modality utilized by these centers to obtain real-time imagery of the heart and blood vessels. This helps medical practitioners evaluate cardiac function and detect various cardiovascular conditions. For instance, the UK’s Department of Health and Social Care reported that in April 2022, there were 73 community diagnostic centers in operation performing an extra 30,000 tests weekly. These centers are anticipated to reach 160 by 2025, presenting a growth rate of 119.18%. Hence, the rising number of diagnostic imaging centers is expected to facilitate the growth of the cardiovascular ultrasound market. The upswing incidents of cardiovascular disease are anticipated to push forward the cardiovascular ultrasound market’s progress. Cardiovascular disease, which includes conditions affecting the heart or blood vessels, check-ups, analysis, and control are significantly assisted by echocardiography, a non-invasive imaging procedure. For instance, approximately 7.6 million individuals in the UK, 4 million men and 3.6 million women included, suffer from heart or circulating diseases, according to September 2024 data from the British Heart Foundation, a UK-based cardiovascular research charity. These illnesses account for about 27% of the total deaths in the UK, amounting to more than 170,000 yearly deaths or roughly 480 deaths each day. This translates to one death approximately every three minutes. Consequently, the upsurge in cardiovascular disease is necessitating the growth of the cardiovascular ultrasound market.
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What Are the Leading Organizations Impacting the Cardiovascular Ultrasound Market’s Growth?
Major companies operating in the cardiovascular ultrasound market report are:
• GE HealthCare Technologies Inc._x000D_
• Koninklijke Philips N.V._x000D_
• Siemens Healthineers AG_x000D_
• Hitachi Medical Corp._x000D_
• Samsung Medison Co. Ltd._x000D_
What Are the Most Prominent Trends Driving Change in the Cardiovascular Ultrasound Market?
Leading firms in the cardiovascular ultrasound market are turning their attention towards producing new portable ultrasound imaging systems like Vscan Air SL, endeavoring to bring trustworthy services to their clients. The Vscan Air SL is a handheld device that generates visuals of the inner workings of the body through ultrasound waves, and it connects to either a smartphone or a tablet. In August 2023, for instance, GE HealthCare Technologies Inc., a medical technology, pharmaceutical diagnostics, and digital solutions company based in the U.S., introduced Vscan Air SL. This mobile, cordless ultrasound imaging system is suitable for swift cardiac and vascular evaluations, thereby accelerating diagnosis and treatment decisions. This system stands out for its integration of SignalMax and XDclear, imaging performance technologies, allowing for excellent penetration, resolution, and sensitivity levels utilizing single crystal transducer technology. The renewed SL version features a sector-phased array transducer for speedy cardiac examinations. The Vscan Air app, compatible with Android and iOS smartphones, makes it possible for clinicians to transport Vscan Air to every single patient.
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What Are the Major Segments of the Cardiovascular Ultrasound Market and Their Role in Driving Growth?
The cardiovascular ultrasound market covered in this report is segmented –
1) By Type: Transthoracic Echocardiography, Transesophageal Echocardiography, Fetal Echocardiography, Other Types
2) By Technology: 2D, 3D Or 4D, Doppler
3) By Display: Black Or White (B/W), Color
4) By End-Use: Hospital, Diagnostic Centers, Ambulatory Care Centers, Other End-Uses
Subsegments:
1) By Transthoracic Echocardiography (TTE): Doppler Echocardiography, 2D Echocardiography, 3D Echocardiography, Stress Echocardiography
2) By Transesophageal Echocardiography (TEE): Adult TEE, Pediatric TEE
3) By Fetal Echocardiography: Standard Fetal Echocardiography, Advanced Fetal Echocardiography
4) By Other Types: Portable Ultrasound, Contrast Echocardiography
What Regions Are Leading the Charge in the Cardiovascular Ultrasound Market?
North America was the largest region in the cardiovascular ultrasound market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the cardiovascular ultrasound market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What Key Parameters Define the Cardiovascular Ultrasound Market’s Scope?
Cardiovascular ultrasound is a noninvasive diagnostic method that utilizes high-frequency sound waves to generate images of the heart and its associated blood vessels. This imaging approach allows medical practitioners to observe the heart’s chambers, valves, walls, and blood vessels, offering comprehensive insights into its structure and performance.
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