Cardiovascular Ultrasound Market Report

Cardiovascular Ultrasound Market Analysis Report By Type (2D, 3D/4D, Doppler), By Type (Transesophageal, Transthoracic, Fetal Echocardiography), By Display (B/W, Color), By End-use, And Segment Forecasts, 2018 - 2025

  • Published Date: Sep, 2018
  • Base Year for Estimate: 2017
  • Report ID: GVR-2-68038-697-4
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2016
  • Number of Pages: 135

Report Overview

The global Cardiovascular Ultrasound (CVUS) market size was valued at USD 1.38 billion in 2017 and is anticipated to expand at a CAGR of 3.84% over the forecast period. Increase prevalence of cardiovascular disease across the globe along with rise in penetration of preventive medicine are anticipated to boost the market growth.

Germany Cardiovascular Ultrasound Market

The Hospital Outpatient Prospective Payment Services (HOPPS) pay technique is used in U.S. to decide reimbursement policy in different types of cardiac ultrasounds. HOPPS is designed by the Centers for Medicare Aid and Services (CMS) for different outpatient procedures. Similar to other insurance plans, the scope for cardiac ultrasound relies upon terms and conditions stipulated under the individual’s policy. Various types of cardiac ultrasound procedures include electrocardiograph, transthoracic echocardiograph, and 3D echocardiograph. Insurance organizations have devised various types of guidelines to decide scope of the procedures.

Increasing image output quality is expected to improve diagnostic accuracy in early stage of diseases. Thus, it may lead to effective treatment of cancer, many cardiovascular diseases, and most life threatening conditions. Cardiovascular ultrasound can be used to check presence of abnormalities in functioning of the heart. These abnormalities are related to pumping capacity, valve functioning, plaques in the heart, and others. CVUS acts as an important diagnostic method which can help decrease the incidence of heart attacks and strokes by providing early diagnosis.

Governments in developing economies such as India and China are increasing their focus on preventive medicine solutions by adopting various imaging technologies including cardiovascular ultrasound. Hence, the market is anticipated to witness lucrative growth in the developing economies.

Type Insights

Based on type, the market is segmented into transthoracic echocardiography, transesophageal echocardiography, fetal echocardiography, and others. The fetal echocardiography segment is expected to witness the fastest CAGR during the forecast period.

Fetal echocardiogram is one of the pregnancy tests performed in the second trimester to check development of all the four chambers of the heart. It allows to visualize the structure of unborn child’s heart. Increasing awareness regarding fetal health monitoring is driving this segment’s growth.

Transesophageal echocardiography is used when transthoracic echocardiography procedure is unable to provide proper results, which in turn, is promoting its demand.

Technology Insights

Based on technology, the market is segmented into 2D, 3D/4D, and Doppler ultrasound systems. Doppler are the most preferred systems as they provide sharp images in a shorter time. The technique is gaining prominence in developing countries such as India and China owing to increasing penetration of technologically advanced systems throughout the region.

3D/4D is an advanced version of 2D CVUS as it displays a multi-dimensional view and helps in clinical diagnosis. It is used in medical procedures such as angiograms, cardiac surgeries, and placement of stents.

Display Insights

On the basis of display, the market is segmented into Black and White (B/W) and color ultrasound systems. Color systems are mostly preferred over B/W due to clarity of images. B/W systems can be used in different systems such as 2D, 3D/4D, and Doppler devices. Many leading companies such as Siemens Healthcare and Philips Healthcare have B/W devices. These devices are used in health centers with budget constraints to shift to the color mode.

Color cardiovascular ultrasound provides more clarity and helps in better diagnosis. Hitachi has its series of color systems which are available across the globe. The color segment is anticipated to grow lucratively over the forecast period.

End-use Insights

Based on end-use, the market is segmented into hospitals, diagnostic centers, and ambulatory care centers. Hospitals held the largest market share in 2017. Mid-to-large sized hospitals install medical imaging equipment within the premises as medical imaging can be a major source of outpatient profits.

Global Cardiovascular Ultrasound Market

Majority of large hospitals have their own medical imaging facilities. However medical imaging facilities require investment, space, skilled professionals, and high maintenance charges. This increases financial burden on hospitals to manage such facilities. Hence, hospitals prefer partnering with diagnostic centers. This helps in cost saving, especially small and mid-sized hospitals.

Regional Insights

Geographically, the market is segmented into Europe, North America, Asia Pacific, Middle East and Africa, and Latin America. North America held the largest revenue share in 2017 owing to high adoption in preventive medicine and improved infrastructure in healthcare facilities. However, Asia Pacific is expected to expand at the fastest CAGR over the forecast period owing to increasing prevalence of chronic conditions.

In U.S., the payments for Medicare are decided on various factors including Relative Value Units (RVUs), conversion factors, and Geographic Practice Cost Indices (GPCI). The Medicare comes with new regulations which decides the reimbursement policy. The supportive reimbursement policy and regulatory framework helps in propelling this region’s growth over the forecast period.

Key Companies & Market Share Insights

Some of the key players in this market include Philips; GE Healthcare, Inc.; Hitachi; Fujifilm Medical Systems; Siemens Healthcare; and Canon Medical Systems Corporation.

Regional and service portfolio expansions and merger and acquisitions are key strategic undertakings adopted by these players. For instance, in June 2017, GE Healthcare and Heartflow announced a partnership in the field of cardiology for the diagnosis and treatment of coronary artery disease.

Cardiovascular Ultrasound Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 1.55 billion

Revenue forecast in 2025

USD 1.87 billion

Growth Rate

CAGR of 3.84% from 2018 to 2025

Base year for estimation

2017

Historical data

2014 - 2016

Forecast period

2018 - 2025

Quantitative units

Revenue in USD million and CAGR from 2018 to 2025

Report coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

Segments covered

Type, technology, display, end-use, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; U.K.; Germany; China; Japan; Mexico; Brazil; South Africa; Saudi Arabia

Key companies profiled

Philips; GE Healthcare, Inc.; Hitachi; Fujifilm Medical Systems; Siemens Healthcare; Canon Medical Systems Corporation

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country level and provides an analysis of latest 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 cardiovascular ultrasound market report on the basis of type, technology, display, end-use, and region:

  • Cardiovascular Ultrasound Type Outlook (Revenue, USD Million, 2014 - 2025)

    • Transthoracic Echocardiography

    • Transesophageal Echocardiography

    • Fetal Echocardiography

    • Others

  • Cardiovascular Ultrasound Technology Outlook (Revenue, USD Million, 2014 - 2025)

    • 2D

    • 3D/4D

    • Doppler

  • Cardiovascular Ultrasound Display Outlook (Revenue, USD Million, 2014 - 2025)

    • B/W

    • Color

  • Cardiovascular Ultrasound End-use Outlook (Revenue, USD Million, 2014 - 2025)

    • Hospital

    • Diagnostic Centers

    • Ambulatory Care Centers

    • Others

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

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • Japan

      • China

    • Latin America

      • Brazil

      • Mexico

    • Middle East and Africa (MEA)

      • South Africa

      • Saudi Arabia

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