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.
Cardiology is one of the most rapidly growing and demand generating sector in the healthcare industry. Many innovations have been made in terms of the diagnosis and treatment methods for cardiac ailments, which also includes cardiac ultrasound devices. Increase in incidence of cardiovascular diseases, increased adoption of cardiovascular ultrasound is expected to drive the expansion of the market favorably in the forecast period from 2017 to 2023.
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Cardiovascular Ultrasound Market – Key Players
Some of the key players in this market are:
- GE Healthcare (U.S.)
- Philips Healthcare (The Netherlands)
- Siemens Healthcare (Germany)
- Hitachi Medical Corporation (Japan)
- Toshiba Medical Systems Corporation (Japan)
Cardiovascular Ultrasound Market – Segmentation
The Global Cardiovascular Ultrasound Market has been segmented based on type of imaging, imaging technology, and end user.
By type of imaging, the global cardiovascular ultrasound market has been segmented into transthoracic, trans esophageal, echocardiograms, stress, and abdominal vasculature ultrasound imaging.
By imaging technology, the global cardiovascular ultrasound market has been segmented into 2D, 3D and Color Doppler.
By end user, the global cardiovascular ultrasound market has been segmented into hospitals and clinics, diagnostic centers and others.
Global Cardiovascular Ultrasound Market – Regional Analysis
By region, the Global Cardiovascular Ultrasound Market has been segmented into the Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA).
North America is the largest market for cardiovascular ultrasound market. High prevalence of cardiovascular diseases and robust healthcare infrastructure supports the growth of the market in the region. Moreover, high healthcare expenditure, favorable reimbursement policies, and the presence of various medical device manufacturers in the region also acts as a plus for the growth of the market.
APAC is expected to be the fastest growing Cardiovascular Ultrasound Market. Surging prevalence of cardiovascular diseases and the presence of a massive patient pool are factors driving growth within the APAC market. In addition, diabetes is also a common prevalent condition in the region which exposes patients at greater risk of acquiring heart diseases. High expenditure on healthcare infrastructure and government support for the same us fostering the growth of the market in the region.
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