This report provides in-depth qualitative and overall analysis of the” Cardiovascular ultrasound Market” on a regional level from 2018 to 2023. The study also provides a comprehensive review of restraints, Market Dynamics, drivers and opportunities along with their impact on the overall market. The report segments the Industry and Key developments and strategies for key players.
Pune, India -- (SBWIRE) -- 05/16/2018 -- Market Scenario:
Cardiac ultrasound, or echocardiography, utilizes ultrasound waves for diagnostic imaging of the heart. Global cardiovascular ultrasound imaging market was valued at USD 1.45 billion in 2016 and is anticipated to generate USD 1.72 billion in 2023 growing with a CAGR of approximately 6.3% during the forecast period 2017-2023.
Lower cost as compared to computed tomography and magnetic resonance imaging are critical economic factors of the market. The high quality and real life images produced by 3D cardiovascular ultrasound coupled with the detailed representation afforded by cardiovascular ultrasound are the leading clinical drivers of the market. Further technological advantage is being afforded by Doppler ultrasound which has found applications in cardiac and metabolic disease diagnosis.
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Increase incidence of cardiovascular diseases, growing demand for noninvasive treatment, rise in risk factors such as smoking, sedentary lifestyles, alcoholism, fatty and saturated food intake and others also drive the market. Miniaturization and portability has resulted in application of cardiovascular ultrasound for remote telecardiology programs in inaccessible areas.
Technological challenges relating to frame rate and temporal and spatial resolution have constrained the market. High costs and the comparative nascent state of the technology such as 2-D speckle tracking is hampering the market.
The awareness and regulations regarding saturated fats, presence of foods such as cereals, fish and milk products in traditional diets of Asia Pacific, Africa and Latin America are social and dietary constrains on the market.
Technological and product development - Technological and product development strategies offers high returns on investment as exhibited by activation imaging technology developed by Toshiba. Activation imaging technology allows evaluation of dyssynchrony of the heart's contraction which enables quantification of heart's pumping strength and timing. 2-D speckle tracking which enables real time deformation of the myocardial wall is another development that is expe4cted to result in faster market adoption.
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Artificial Intelligence - Artificial Intelligence and developments in algorithm and analytics is expected to be the future of cardiovascular ultrasound. Siemens Healthcare scored over its rivals when it introduced artificial intelligence (AI) algorithms into its cardiac ultrasound systems followed by Philips Healthcare. The artificial intelligence automates identification of the heart's ailment based on optimal results generated by machine learning, using prior results.
To generate a comprehensive understanding of the market the global cardiovascular ultrasound imaging market has been segmented on the basis of type, imaging technology and end user.
Type – transthoracic echocardiograms, Tran's esophageal echocardiogram, abdominal vasculature echocardiogram, stress echocardiogram and others
imaging technology - 2D, 3D and Color Doppler.
End user - hospitals and clinics, diagnostic centers and others.
Regional Analysis of Cardiovascular Ultrasound Imaging Market:
The report has been segmented into four regions of America, Europe, Asia-Pacific and Middle East and Africa. North America is led by the U.S. is the largest market for cardiovascular ultrasound imaging. Fast uptake of new technology, high per capita income and large cardiopathy population coupled with large at risk population are drivers of the U.S. market. The Centers for Disease Control and Prevention estimates approximately 73.5 million adults U.S. population with high cholesterol level.
Asia Pacific is expected to generate fastest market growth led by China and India. The growing menace of diabetes especially in the Indian market are factors favorable to the growth of Asia-Pacific market. The market is expected to generate moderate growth in the Middle East and Africa. The Middle East and Africa market is expected to be skewed in favor of the gulf economies of Saudi Arabia, UAE, Kuwait and others.
Dominant Players for Cardiovascular ultrasound imaging market:
The dominant players in this market are GE Healthcare (U.S.), Toshiba Medical Systems Corporation (Japan), Philips healthcare (The Netherlands), Hitachi Medical Corporation (Japan), Siemens Healthcare (Germany), Fujifilm Holdings Corporation (Japan), Kalamed Medical Systems (Germany), Mindray Medical International Limited (China) and others. GE Healthcare, Toshiba Medical Systems Corporation, Philips healthcare, Hitachi Medical Corporation, and Siemens Healthcare hold a monopolistic share of the market.
TOC of Cardiovascular Ultrasound Market:
1 Report Prologue
2 Market Introduction
2.2 Scope of Study
2.3 Research Objective
2.4 Assumptions & Limitations
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
4 Market Dynamics
4.1.1 Increase Incidence Of Cardiovascular Diseases
4.2.1 Lack Of Awareness About Cardiovascular Imaging
5 Market Factor Analysis
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