Structural Heart Imaging (SHI) Market Report

Structural Heart Imaging (SHI) Market Analysis By Imaging Modality (Echocardiogram, Angiogram [MRI, CT]), By Region (North America, Europe, Asia Pacific, South & Central America, MEA), And Segment Forecasts, 2014 - 2025

Published: August 2017  |  90 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-536-6

Industry Insights

The global Structural Heart Imaging (SHI) market size was estimated at USD 10.1 billion in 2016. Global increase in incidence of Congenital Heart Diseases (CHDs) and rising government support to improve accessibility to treatments are expected to be major factors driving growth.

CHDs represent almost 33% of all major congenital anomalies worldwide. Furthermore, the number of infants born with heart defects has been rising consistently, thus cardiac imaging in newborns has become crucial.

U.S. structural heart imaging market by imaging modality, 2014 - 2025 (USD Million)

U.S. structural heart imaging market

Companies are focusing on R&D to meet growing needs of patients and improve existing products lines to prevent them from becoming obsolete. New advancements in Magnetic Resonance Imaging (MRI) consist of MR spectroscopy, perfusion, functional MRI, and diffusion tensor imaging.

GE Healthcare presented an innovative MRI technique at RSNA 2015, which performs a full 3D chest volume scan. This innovation is expected to increase adoption of MRI scanners over CT. Hence, rise in the number of imaging procedures for Structural Heart Diseases (SHDs) is likely to drive the market in the coming years.

Imaging Modality Insights

Based on imaging modality, the SHI market has been segmented into echocardiogram and angiogram. Angiogram is further segmented into MRI and CT. Rapidly increasing need for diagnosis and effective imaging for detection of SHDs, especially CHDs, is likely to increase demand for various imaging modalities.

In 2016, echocardiogram accounted for the largest share due to its ability to utilize high temporal and spatial image resolutions in real time to determine physiological and anatomical abnormalities related to SHDs. In addition, echocardiography assists in intraprocedural monitoring as well as postoperative follow-up.

Global structural heart imaging market by imaging modality, 2016 (%)

Global structural heart imaging market

Echocardiography remains the primary tool in diagnosis and monitoring of heart diseases due to its advantages. In addition, it is relatively cheaper, quicker, and has fewer adverse effects. Currently, fusion of different imaging modalities is gaining popularity for SHD interventions, as it helps generate high-quality images that facilitate real-time monitoring in the operation theater. Transesophageal echocardiography and fluoroscopy are combined to generate real-time images during treatment of SHDs.

MRI is likely to exhibit lucrative growth during the forecast period, as it does not use ionizing radiation, which makes it a preferred choice for diagnosis of children and pregnant women. Furthermore, advancements in MRI have made it useful for monitoring myocardial and valvular functions as well as for the diagnosis of complex CHDs.

Regional Insights

North America accounted for the largest share in 2016. Rising demand for technologically advanced devices for treatment and diagnosis of SHDs is supporting growth in the region. Furthermore, high incidence of CHDs has further contributed to the dominance of the region. Around 60 million people have SHDs in the U.S., which accounts for around 20% to 25% of the total population.

Asia Pacific is likely to witness fastest growth over the forecast period. Increase in awareness about cardiac diseases owing to programs organized by healthcare organizations, such as WHO & industry players, improvements in newborn screening programs, and improved accessibility to healthcare are some of the factors anticipated to boost the market.

Increase in approval and commercialization of products in Asia Pacific in recent years is likely to drive the market. For instance, in November 2016, St. Jude Medical, LLC received approval for EnSite Precision Cardiac Mapping System from the Ministry of Health, Labor, and Welfare (Japan). The system is designed to be used for ablation procedures to view & aid catheter navigation in the heart and provide detailed anatomical maps & models. In addition, it helps diagnose arrhythmias, provides guiding therapy, and expanded procedural options.

In 2016, Europe accounted for a significant share due to local presence of major players and high geriatric population. All these factors are likely to drive the market during the forecast period. Furthermore, availability of health insurance is expected to improve healthcare access for a large percentage of population in Europe.

Competitive Insights

The global market is highly competitive. Some of the major players are CardioComm Solutions Inc.; Circle Cardiovascular Imaging, Inc.; HeartSciences; Koninklijke Philips N.V.; Pie Medical Imaging; Shimadzu Corporation; Siemens Healthineers; TomTec Imaging Systems GmbH; and Toshiba Corporation.

Distribution & commercialization agreements with well-established players and development of innovative solutions are key strategies adopted by major players to sustain the competition and improve their market share.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2016

Forecast period

2017 - 2025

Market representation                                                

Revenue in USD Million and CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, Middle East & Africa

Country scope

U.S., Canada, Germany, U.K., China, Japan, Brazil, Mexico, South Africa

Report coverage             

Revenue forecast, competitive landscape, growth factors, and trends

15% free customization scope (equivalent to 5 analyst working days)

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Segments Covered in the Report

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global structural heart imaging market on the basis of imaging modality and region:

  • Imaging Modality Outlook (Revenue, USD Million, 2014 - 2025)

    • Echocardiogram

    • Angiogram

      • CT

      • MRI

  • Regional Outlook (Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • Japan

      • China

    • Central & South America

      • Brazil

      • Mexico

    • Middle East & Africa

      • South Africa

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