Cardiovascular Ultrasound Market Size is projected to reach USD 2.69 Billion by 2030, growing at a CAGR of 6.9%: Straits Research
The global cardiovascular ultrasound (CVUS) market size was valued at USD 1,475 million in 2021 and is estimated to reach an expected value of USD 2690 million by 2030 at a CAGR of 6.9% over the forecast period (2022 – 2030). North America held the highest share of the cardiovascular ultrasound market and is estimated to grow at a CAGR of 6.7% during the forecast period.
New York, United States, June 28, 2023 (GLOBE NEWSWIRE) -- CVS devices measure the diameter and length of a vessel or lumen. It helps to determine the amount and nature of plaque accumulation in a vessel. In addition, it is utilized to verify that the stents have been appropriately positioned and fully deployed. The rise in the demand for cardiovascular ultrasound (CVUS) procedures during the percutaneous coronary intervention (PCI) and the rise in the adoption of cardiovascular ultrasound (CVUS) systems in hospitals and diagnostic centers are likely to drive the global intravascular ultrasound (CVUS) devices market during the forecast period. The increasing prevalence of chronic diseases, such as heart attack, coronary artery disease, and myocardial infarction, is one of the high-impact rendering factors contributing to the increased usage of intravascular ultrasonography (CVUS) devices.
*Top Key Players of Cardiovascular Ultrasound Market*
1. Canon Medical Systems
2. G.E. Healthcare
3. Koninklijke Philips
4. Siemens Healthineers AG
5. Hitachi Medical Corporation
6. Samsung Medison Co. Ltd.
7. Shenzhen Mindray Bio-Medical Electronics Co.LTD. (Mindray)
8. CHISON Wuxi Xiangsheng Medical Technology Co.LTD.
9. Fujifilm Sonosite Inc
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*Increasing Prevalence of Cardiovascular Diseases Global Cardiovascular Ultrasound (CVUS) Market*
In the United States, cardiovascular disorders such as coronary heart disease, heart attack, and stroke are among the leading reasons for death. Lifestyle changes have raised cardiovascular disease susceptibility. In 2017, according to the CDC, 28.2 million adults in the United States were diagnosed with heart disease. Ultrasound technology is used to examine anomalies in heart function, such as cardiac pumping capacity, valve function, and plaque in the heart. By delivering an early diagnosis, these devices serve as essential diagnostic equipment that can aid in reducing the occurrence of heart attack and stroke. As a result, the market for cardiovascular ultrasound is projected to be propelled by the rising prevalence of heart conditions worldwide.
*Diagnosis of Complex CTO Lesions to Provide Opportunities for the Global Cardiovascular Ultrasound (CVUS) Market*
Chronic complete occlusion (CTO) revascularization continues to provide procedural difficulties. It has been discovered that CTO lesions with a tapering stump had a higher success rate than those with a blunt, ambiguous, or stumpless stump. Intravascular ultrasound (IVUS) imaging distinguishes a genuine lumen from subintimal space by distinguishing the existence of side branches, intima, and media, creating value-grab opportunities for medical technology businesses in the intravascular ultrasound (CVUS) equipment industry.
Companies in the intravascular ultrasound (CVUS) devices market are profiting from the need for devices in imaging for CTO lesions since the approach confirms guidewire re-entry from the subintimal space to the actual lumen. When normal wiring processes fail, an IVUS-guided wiring methodology is evaluated for use in the antegrade approach.
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*Report Scope*
*Report Metric* *Details*
Market Size by 2030 USD 2690 million
Market Size in 2021 USD 1475 million
CAGR 6.9%
Historical Data 2019-2020
Base Year 2021
Forecast Period 2022-2030
Forecast Units Value (USD Million)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered By Type, By Technology, By Display, By End-use
Geographies Covered North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors Canon Medical Systems, GE Healthcare, Koninklijke Philips, Siemens Healthineers AG, Hitachi Medical Corporation, Samsung Medison Co. Ltd., Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (Mindray), CHISON Wuxi Xiangsheng Medical Technology Co., Ltd., and Fujifilm Sonosite, Inc.
Key Market Opportunities Diagnosis of Complex CTO Lesions
Key Market Drivers Increasing Prevalence of Cardiovascular Diseases
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*Regional Insights*
By region, the global cardiovascular ultrasound (CVUS) market is segmented into North America, Europe, Asia Pacific, Central & South America, Middle East & Africa.
North America dominated the global cardiovascular ultrasound market and is anticipated to grow at a CAGR of 6.7% during the forecast period. Due to the increased prevalence of cardiovascular illnesses and the rising need for advanced echocardiography in preventative healthcare facilities, the market is anticipated to have a considerable rise over the forecast period. According to the CDC, around 735,000 Americans suffer a heart attack each year, 525,000 of whom experience it for the first time, and 210,000 have already had one. This demonstrates the increasing potential of CVUS equipment. Hospitals on the East Coast of the United States have the highest prevalence of echocardiography. New York, Rhode Island, and Montana were the states with the highest utilization of inpatient echo technology, while Wyoming, Alaska, and New Mexico had the lowest rate. Increasing acceptance of echocardiography in the country presents market participants with an opportunity to expand their product offerings by introducing CVUS devices.
Europe is the second largest region. It is estimated to reach at a CAGR of 7% over the forecast period. According to the 2017 European Society of Cardiology (ESC) report, cardiovascular illnesses remain the primary cause of death in European countries, accounting for 49% of female deaths and 40% of male fatalities. In addition, several professional organizations are supporting the growth of the echocardiography market, such as the European Association of Echocardiography (EAE), a registered branch of the European Society of Cardiology (ESC) that offers research grants to assist young physicians in cardiovascular imaging research and professional practice. The medical imaging business in the United Kingdom has a favorable environment for R&D due to government efforts and private funding. According to the British Heart Foundation, cardiovascular illnesses account for almost 25 percent of deaths in the United Kingdom. Increasing frequency of these disorders and the need for appropriate management present potential prospects for CVUS equipment producers in the United States. Hitachi Medical Systems Europe released the LISENDO 880 2D/4D CVUS in December 2017. The system includes HDAnalytics, which facilitates the delivery of reliable data.
The Asia Pacific is the third largest. As a result of effective government activities to improve healthcare infrastructure in the area, Asia-Pacific is predicted to grow at the highest rate of 7.2% over the projection period. In addition, economic growth in nations such as India and China is anticipated to stimulate market expansion. In Asia-Pacific nations, a significant population with low per capita income has increased the demand for affordable treatment choices. Multinational corporations are eager to invest in Japan, India, and China, among other growing economies. Thus, numerous market participants are forming collaborative partnerships and strategic alliances with local market participants. This is expected to increase the cardiovascular ultrasound (CVUS) market during the forecast period.
*Key Highlights*
· The global cardiovascular ultrasound (CVUS) market size was valued at USD 1,475 million in 2021 and is anticipated to reach an estimated value of USD 2690 million by 2030 at a CAGR of 6.9% over the forecast period (2022 – 2030).
· *By type*, the global cardiovascular ultrasound (CVUS) market is segmented into transthoracic echocardiography, transesophageal echocardiography, fetal echocardiography, and others. The transthoracic echocardiography segment accounted for the largest market share and is estimated to grow at a CAGR of 6.6% during the forecast period.
· *By technology*, the global cardiovascular ultrasound (CVUS) market is segmented into 2D, 3D/4D, and doppler. The doppler segment accounted for the largest market share and is anticipated to grow at a CAGR of 6.6% during the forecast period.
· *By display*, the global cardiovascular ultrasound (CVUS) market is segmented into B/W and color. The color segment accounted for the largest market share and is estimated to grow at a CAGR of 7.2% during the forecast period.
· *By end-use*, the global cardiovascular ultrasound (CVUS) market is segmented into hospitals, diagnostic centers, ambulatory care centers, and others. The hospitals held the highest cardiovascular ultrasound market share and are estimated to grow at a CAGR of 7.2% during the forecast period.
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*Global Cardiovascular Ultrasound (CVUS) Market: Segmentation*
* By Type*
· Transthoracic Echocardiography
· Transesophageal Echocardiography
· Fetal Echocardiography
· Others
* By Technology*
· 2D
· 3D/4D
· Doppler
* By Display*
· B/W
· Color
* By End-use*
· Hospitals
· Diagnostic Centers
· Ambulatory Care Centers
· Others
* By Region*
· North America
· Europe
· Asia Pacific
· Central & South America
· Middle East & Africa
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*TABLE OF CONTENT*
1. *EXECUTIVE SUMMARY*
2. *RESEARCH SCOPE & SEGMENTATION*
1. Research Objectives
2. Market Definition
3. Limitations & Assumptions
4. Market Scope & Segmentation
5. Currency & Pricing Considered
3. *MARKET OPPORTUNITY ASSESSMENT*
1. Emerging Regions / Countries
2. Emerging Companies
3. Emerging Applications / End Use
4. Investment Landscape
5. New Business Models / Revenue Streams
6. TAM
4. *MARKET TRENDS*
1. Drivers
2. Market Warning Factors
3. Latest Macro Economic Indicators
4. Geopolitical Impact
5. Human Factors
6. Technology Factors
5. *MARKET ASSESSMENT*
1. Porters Five Forces Analysis
2. Value Chain Analysis
3. Sales And Distribution Channel Analysis
4. Trade Analysis
5. Average Pricing Analysis
6. Patent Analysis
7. M & A Agreements & Collabration Analysis
8. Cost Structure Analysis
6. *ESG TRENDS*
7. *GLOBAL CARDIOVASCULAR ULTRASOUND MARKET SIZE ANALYSIS*
1. Global Cardiovascular Ultrasound Market Introduction
2. By Type
1. Introduction
1. Type By Value
2. Transthoracic Echocardiography
1. By Value
3. Transesophageal Echocardiography
1. By Value
4. Fetal Echocardiography
1. By Value
5. Others
1. By Value
3. By Technology
1. Introduction
1. Technology By Value
2. 2D
1. By Value
3. 3D/4D
1. By Value
4. Doppler
1. By Value
4. By Display
1. Introduction
1. Display By Value
2. B/W
1. By Value
3. Color
1. By Value
5. By End-Use
1. Introduction
1. End-Use By Value
2. Hospitals
1. By Value
3. Diagnostic Centers
1. By Value
4. Ambulatory Care Centers
1. By Value
5. Others
1. By Value
8. *NORTH AMERICA MARKET ANALYSIS*
1. Introduction
2. By Type
1. Introduction
1. Type By Value
2. Transthoracic Echocardiography
1. By Value
3. Transesophageal Echocardiography
1. By Value
4. Fetal Echocardiography
1. By Value
5. Others
1. By Value
3. By Technology
1. Introduction
1. Technology By Value
2. 2D
1. By Value
3. 3D/4D
1. By Value
4. Doppler
1. By Value
4. By Display
1. Introduction
1. Display By Value
2. B/W
1. By Value
3. Color
1. By Value
5. By End-Use
1. Introduction
1. End-Use By Value
2. Hospitals
1. By Value
3. Diagnostic Centers
1. By Value
4. Ambulatory Care Centers
1. By Value
5. Others
1. By Value
6. *U.S.*
1. By Type
1. Introduction
1. Type By Value
2. Transthoracic Echocardiography
1. By Value
3. Transesophageal Echocardiography
1. By Value
4. Fetal Echocardiography
1. By Value
5. Others
1. By Value
2. By Technology
1. Introduction
1. Technology By Value
2. 2D
1. By Value
3. 3D/4D
1. By Value
4. Doppler
1. By Value
3. By Display
1. Introduction
1. Display By Value
2. B/W
1. By Value
3. Color
1. By Value
4. By End-Use
1. Introduction
1. End-Use By Value
2. Hospitals
1. By Value
3. Diagnostic Centers
1. By Value
4. Ambulatory Care Centers
1. By Value
5. Others
1. By Value
7. *Canada*
*Continued…*
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*Table of Content and Figure @ https://straitsresearch.com/report/cardiovascular-ultrasound-market/toc*
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*Market News*
· *July 2022 -* Canon Medical Systems USA Inc., a commercial subsidiary of Canon Medical Systems Corporation and a global pioneer in revolutionary diagnostic imaging technology, has completed its acquisition of NCX Imaging, a Minneapolis, Minnesota-based distributor and service provider of medical imaging equipment.
· *July 2022-* Canon Medical Systems USA Inc., a marketing subsidiary of Canon Medical Systems Corporation and a leading innovative diagnostic imaging technology provider, has signed a contract to acquire NXC Imaging, a distributor and service provider of medical imaging equipment headquartered in Minneapolis, Minnesota. The Upper Midwest of the United States constitutes NCX Imaging's distributorship territory. The transaction is expected to finalize in the third quarter of 2022.
· *June 2022 -* Canon Medical Systems USA Inc. has added Cybersecurity Health Score and Utilization Management Dashboard to its online 360 Connect customer interface for its clients. These two new additions are a part of Canon Medical's nationwide general service agreement.
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*News Media*
*Global Cardiovascular Needle Market Ascends at a Healthy CAGR of 7.28%*
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*Have a Look at the Related Research Report*
*Contrast Enhanced Ultrasound Market*: Information by Product (Equipment and Contrast Agent), Type (Non-targeted and Targeted), End-Use (Hospitals, Clinics), and Region — Forecast till 2031
*Next-Generation Ultrasound Systems Market*: Information by Technology (4D/3D Ultrasound Systems), End-User (Diagnostic Centers), Product Types (Diagnostic), Application, Portability, and Region—Forecast till 2031
*Cardiovascular Needle Market*: Information by Type (Round-bodied needles, Cutting needles), Application (Open heart surgery, Cardiac valve procedures), and Region- Forecast till 2030
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