Cardiovascular Ultrasound Market Analysis

Cardiovascular Ultrasound Market Overview

The Cardiovascular Ultrasound Market is anticipated to reach USD 3.20 billion by 2032 at 6.3% CAGR during the forecast period 2023-2032. The ultrasound imaging process is a medical test. It helps the medical experts for the diagnosis and treatment of various medical conditions.

Cardiovascular Ultrasound is basically a non-invasive technique. During this process, a transducer is used for directing ultrasonic waves at a high frequency. Then, the transducer is positioned upon the chest to penetrate the ultrasonic waves to reflect the internal organs on a computer screen. The rising awareness for the monitoring of fetal health and the use of cardiovascular systems are the important factors driving the market. It is evaluated that Europe is going to observe the largest share in the market.

In general, cardiovascular ultrasound is a non-invasive procedure. A transducer is utilized in this technique to direct ultrasonic waves at high frequencies. The internal organs are then reflected on the computer's screen by an ultrasonic transducer placed on the patient's chest. The market is driven by two key factors: increasing awareness of the need to monitor fetal health and the usage of cardiovascular systems. The prevalence of cardiovascular diseases (CVDs), technical improvements, and the benefits of echocardiography over invasive cardiac diagnostic techniques are the main drivers driving the continued expansion of the cardiovascular ultrasound system market. It is anticipated that a sedentary lifestyle and the high incidence of risk factors like cigarette smoking, diabetic complications, obesity, high blood pressure, and others will raise the burden of cardiovascular illnesses.

Due to a growth in the use of ultrasound for diagnosis, monitoring, and treatment, the marketplace for cardiovascular ultrasound equipment is predicted to expand over the forecast period. Sonography or B-mode echography are additional terms to describe "2D ultrasound imaging". The most popular kind of heart ultrasound imaging typically displays B-mode data in two dimensions. It employs several transducers. It makes it possible to produce several images of the field or frames every second, giving the impression of movement. The trend toward non-invasive diagnostics is driving the global cardiovascular ultrasound market. The manufacturers' growing emphasis on creating innovative and creative cardiovascular ultrasound systems will also significantly impact the market's growth. The market for cardiovascular ultrasound systems is expected to develop due to the aging population and a rise in government organizations raising awareness.

The US Food and Drug Administration (FDA) has approved UltraSight for its artificial intelligence (AI)-based cardiac ultrasound-guided device. Medical workers without prior sonography training can now obtain cardiac ultrasound pictures in various scenarios directly at the point of service using real-time AI guiding software. The software is designed for adult patients undergoing two-dimensional transthoracic echocardiography (2D-TTE), specifically to record the ten common views of the heart. Based on the company's crucial study, which demonstrated that even healthcare workers without prior ultrasound training could get diagnostic-quality pictures using the real-time direction of the probe used for ultrasound and comments regarding the ultrasound image's quality, the FDA granted the company's application. The program can be an add-on for the Philips Lumify Ultrasound System.

One of the world’s top manufacturers of medical diagnostic systems like ultrasound, dedicated MRI and Medical IT systems, Esaote, took part in the Congress held by the European Association of Cardiovascular Imaging in Barcelona in May 2023. MyLabTMOmega eXP, its new portable ultrasound system, was unveiled to include advanced cardio tools and AI-powered automation.

Phillips released EchoNavigator 4.0 in May 2022 as its image-guided therapy solution for structural heart disease has been brought forth.

In May 2022, FUJIFILM VisualSonics launched the Vevo F2 multi-modal imaging platform for preclinical ultrasound.

Samsung Medison introduced a brand-new high-end ultrasound system in September 2021 called V8, which is an affiliate of Samsung Electronics Corporation (Samsung Medison is a global healthcare company dealing with medical equipment) that facilitates improved image quality, usability, and convenience to all users. They implemented premium ultrasound features from different departments, such as obstetrics, radiology, orthopedics and cardiology.

Furthermore, Clarius announced that its Clarius PA HD wireless hand-held ultrasound scanner could be used for high-resolution cardiac imaging with the release of Clarius Ultrasound App 7.3 for iOS and Android smart devices in November 2020. The potential of this device allows disinfection due to the COVID-19 pandemic spread among patients suffering from this disease at a faster scale since it does not need more cables or is extremely small, hence accelerating scanning processes.

GE Healthcare received FDA clearance for Vivid Ultra Edition new AI-powered cardiovascular ultrasound system, in October 2020. It is designed to improve measurement consistency and reduce the diagnostic exam time. This product has AI-based algorithms and a neural network tooled towards rendering repeatable readings rapidly during performance two-dimensional echo imaging in Vivid Ultra Editions.

Again, in October 2020, Royal Philips launched Ultrasound 3300 – a new innovative ultrasound series for general Imaging and cardiovascular imaging. This product development will enhance vertical growth in future years.

Esaote, a foremost manufacturer of medical diagnostic systems (namely ultrasound, dedicated MRI and Medical IT systems) in Barcelona, took part in the Congress organized by the European Association of Cardiovascular Imaging, which was held In May 2023. The company introduced MyLabTMOmega eXP, its new portable ultrasound system with advanced cardio tools and automation powered by artificial intelligence.

July 2022 - Canon Medical Systems USA Inc., a commercial subsidiary of Canon Medical Systems Corporation, has acquired Minneapolis based distributor and service provider for medical imaging devices NXC Imaging that is famous worldwide, and yet this is just one office in Minneapolis from where they provide their services to all over the United States.

July 2022- The Minneapolis, Minnesota-based distributor and service provider of medical imaging equipment, NXC Imaging, has agreed to be bought by Canon Medical Systems USA Inc., a business division under Canon Medical Systems Corporation known for its cutting-edge diagnostic imaging technology across the globe. The US Upper Midwest is where NCX Imaging operates as a distributional firm that was founded back in 1964. This transaction is expected to close during Q3 2022.

COVID-19 Analysis

The COVID-19 disease has caused significant damage to the financial systems of various countries across the world. It became extremely difficult to handle the spread of the virus and the treatment of patients. The announcement of lockdown further led to a temporary halt in the manufacturing units of various industries including the Cardiovascular Ultrasound Market. However, in the lowering cases of coronavirus disease, the market is anticipated to regain its growth in the future years.

Cardiovascular Ultrasound Market Trends

Market Drivers

The rising cases of cardiovascular disease and the adoption of cardiovascular systems are among the crucial drivers. Along with that, the rising awareness for monitoring fetal will further drive the Cardiovascular Ultrasound Market Growth.

Restraints

The stringent rules for the approval of new technologies across several governments are considered to lower the Cardiovascular Ultrasound Market Growth. Also, the high costs related to the production of new cardiovascular ultrasound devices are anticipated to hinder the market growth.

News:

Acuson Origin, a new cardiovascular ultrasound system from Siemens Healthineers, has been introduced. It features strong artificial intelligence (AI) capabilities that enable it to recognize the anatomy being photographed and anticipate the subsequent actions required to advance patient care. The brand-new device uses artificial intelligence (AI) algorithms to automate about 500 metrics. The system's AI performs real-time anatomy detection and comprehension. Using this, a sonographer or echocardiographer will not waste time looking for the AI measurement tools in the submenus. With just a glance at the current image on the screen, an AI button can make hundreds of measurements.

Opportunities

The rapid technological advancements for checking heart problems such as valve functioning, regularity of heart functioning, plaque, etc. will open new opportunities for the market. After the increase of COVID-19, the use of cardiovascular ultrasound devices has observed significant growth. Thus, the market is anticipated to have substantial growth.

Challenges

The shortage of skilled labours is anticipated to observe a major challenge. Along with that, the lack of an established supply chain will further lower down the Cardiovascular Ultrasound Market Value.

Value Chain Analysis

The increasing adoption is leading to the Cardiovascular Ultrasound Market Trends to improve. Thus, with the growing demand and rising technological developments, the value chain of the market will strengthen in the upcoming years.

Cardiovascular Ultrasound Market Segment Insights

The Cardiovascular Ultrasound Market is divided into end-user, display type, technology, display type, and test type. Based upon end-user, the Cardiovascular Ultrasound Global Market is divided into Ambulatory centres and Home Care, Cardiology Centres and Hospitals, and Others.

Based upon display type, the Cardiovascular Ultrasound Global Market is divided into Black and White Display and Colour Display.

Based upon technology type, the Cardiovascular Ultrasound Global Market is divided into 4D and 3D, 2D, and Doppler Imaging.

Based upon test type, this market is divided into Fetal Echocardiography, Transthoracic Echocardiography, Stress Echocardiography, Transoesophageal Echocardiography, and Others.

Regional Analysis

Based upon the region, the Cardiovascular Ultrasound Market Size is divided into Europe, Africa, and the Middle East, Asia-Pacific, and the Americas. According to the Cardiovascular Ultrasound Market Forecast by MRFR, Europe is projected to have the largest share. Europe consists of the UK, France, Germany, Italy, Spain, and other parts of Europe. With the early adoption of and commercialization of the product, the region is holding a significant share. Also, the increasing awareness for less-invasive procedures is further contributing to the largest share.

Secondly, the Americas are estimated to hold the second-largest Cardiovascular Ultrasound Market Share. The increases in the use of cardiac problems are some crucial drivers of the market. Also, the increasing adoption and high awareness of new technology are improving the market growth.

Furthermore, Asia-Pacific is anticipated to observe gradual growth during the studied forecast period. The increasing cases of cardiovascular diseases and improvement in government initiatives for the healthcare sector will lead to stable growth. Countries such as India and China are playing a significant role in the increase in the Cardiovascular Ultrasound Market Growth.

Competitive Landscape

The Cardiovascular Ultrasound Market is fragmented with the presence of various key players. These key players do acquisitions, market analysis, collaborations, mergers, partnerships, etc. Here are some key players of the market listed below.

• Fujifilm Medical Systems


• Whale Imaging


• Samsung Medison


• Canon Medical Systems Corporation


• Mindray Medical


• Siemens Healthcare


• Chison Medical Imaging


• GR Healthcare Inc.


• Hitachi, KPI Healthcare


• Mindray Medical


• Koninklijke Phillips N.V.

Recent Developments

• Phillips in the year 2019 announced its system for cardiovascular ultrasound called "EPIQ CVx."This device is designed for enhancing the workflow and diagnosis of medical professionals.


• Phillips in 2017 announced the acquisition of a company called Imaging Systems GmbH. Imaging Systems GmbH is consi0dered one of the leading companies which provide intelligent software for image analysis.


• GE Healthcare in 2015 announced the launch of new software for a cardiac ultrasound with the 4D feature. This feature is available for three different ultrasound systems VividE95, Vivid 90, Vivid70 in countries such as Asia, the US, Latin America, and Europe.

Report Overview

The overview of the Cardiovascular Ultrasound Market Outlook is listed below.

• Market Overview


• COVID-19 Analysis


• Dynamics of the Market


• Value Chain Analysis


• Market Segmentation


• Regional Analysis


• Competitive Analysis


• Recent Development

Report Score and Segmentation

The report score is to highlight information about the Cardiovascular Ultrasound Market. It highlights the information such as drivers, challenges, opportunities, etc. The information provided in this report is gathered from various primary and secondary sources.

Cardiovascular Ultrasound Market Segmentation

Cardiovascular Ultrasound Technology Outlook

• 4D and 3D


• 2D


• Doppler Imaging

Cardiovascular Ultrasound Test Type Outlook

• Fetal Echocardiography


• Transthoracic Echocardiography


• Stress Echocardiography


• Transoesophageal Echocardiography


• Others

Cardiovascular Ultrasound Display Type Outlook

• Black and White Display


• Colour Display

Cardiovascular Ultrasound End-User Outlook

• Ambulatory Centres and Home Care


• Cardiology Centres and Hospitals


• Others

Cardiovascular Ultrasound Region Outllok

• Europe


• Africa and the Middle East


• Asia-Pacific


• Americas