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Home » Press Releases » Global Echocardiography Market worth $2.36 billion by 2030

Global Echocardiography Market worth $2.36 billion by 2030


Published Date: Apr-2022 | Report Format:Electronic (PDF)

The report" Global Echocardiography " Market by Type (Transthoracic Echocardiography, Transesophageal Echocardiography, Stress Echocardiography, Others), Technology (2D, 3D and 4D, Doppler Imaging), Device Display (Colour Display, Black and White), End-user (Hospitals/Cardiology Centers, Ambulatory/Home Care, Others (Research Institutes and Pharmaceutical Companies)) and Regional (North America, Europe, APAC, South Africa, The Middle East & Africa)- Global Forecast to 2030. " In 2020, the Global Echocardiography Market market share was USD 1.32 billion. However, it is predicted to reach USD 2.36 billion by 2030, with a CAGR of 6.0 % throughout the forecasted period.

 

To know more about the report, Click on the link :-  https://www.strategicmarketresearch.com/market-report/echocardiography-market

 

KEY FACTORS AUGMENTING THE MARKET GROWTH

Technological developments, the advantages of echocardiography over invasive cardiac diagnostic methods, and an increase in the frequency of cardiovascular disorders are the primary drivers driving the market's growth.

 

By Type, the " transthoracic echocardiography " segment holds the most significant market share.

In 2020, the transthoracic echocardiography sector will dominate the worldwide market. In 2020, the industry held more than 55 % of total sales. On the other hand, the foetal echocardiography segment is predicted to grow at the quickest rate of 7.3 % throughout the projection period. Moreover, the intracardiac echocardiography market is expected to grow at a CAGR of 6.08, and demand for the transesophageal echocardiography market is increasing due to covid-19. 

 

By Technology, the " Doppler " segment holds the most significant market share.

Doppler is the most popular system since it delivers clearer images in less time, and it accounted for almost 46% of total sales in 2020. The strategy is gaining acceptance because of the increased frequency of technologically complex systems in emerging nations such as India and China. Doppler echocardiography is a non-invasive technique for determining blood flow within the heart. Doppler echocardiography workshops are also projected to grow in popularity.

 

By Device Display, the " Colour System " segment holds the most significant market share.

In 2020, the colour systems category had a major revenue share of more than 88 %. Because of the clarity of pictures given by colour systems, they are often chosen over B/W systems. Furthermore, colour cardiovascular ultrasonography aids inaccurate diagnosis. In addition, Hitachi offers several colour systems that are available worldwide. As a result of these reasons, the colour systems category is expected to grow at the quickest rate of roughly 7 % throughout the projection period.

 

By End-users, the " Hospitals " segment holds the maximum share of the market.

Based on end-users, in 2020, hospitals accounted for more than 42.0 % of total revenue and held the largest share of the echocardiography market. Furthermore, because medical imaging is a major source of outpatient income, numerous mid to large-sized hospitals have medical imaging equipment on their premises. 

 

By Region, North America comprehensively led the market in terms of revenue.

Based on region, in 2020, North America had the highest revenue share of more than 29%. However, it is expected that APAC will be the fastest-growing market segment, with a CAGR of more than 7% throughout the projected period. To blame is the increased frequency of chronic illnesses in the region. In manufacturing devices, Philips Medical Systems and Card Guard Group have a strong presence in the UK echocardiography market. As a result, the echocardiography market in Europe is expected to grow at a CAGR of 10%. In comparison, the echocardiography market in the US is expected to grow at a CAGR of 6.1 %.

 

SOME OF THE CRUCIAL EXISTING MARKET PLAYERS:

Below mentioned players are the ones who are the market leaders of the Global Echocardiography Market - Siemens Healthcare, Toshiba Medical Systems, ALPINION MEDICAL SYSTEMS, Bay Labs, Biosense Webster, Boston Scientific, and Bracco Imaging.

 

Recent Developments: -

  • On 6th October 2021, The Paradise Ultrasound Renal Denervation System from ReCor Medical, Inc., a fully owned subsidiary of Otsuka Medical Devices Co., Ltd., will be available in Germany for treating uncontrolled hypertension.
  • On 27th October 2020, The Ultrasound 3300, a breakthrough ultrasound series specializing in Obstetrics and Gynecology (OBGYN), General Imaging, and Cardiovascular Imaging procedures, was released today by Royal Philips, a global pioneer in health technology.
  • On 12th October 2020, The Vivid Ultra Edition, an AI-powered cardiovascular ultrasound device from GE Healthcare, acquired FDA approval.

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