Global Cardiovascular Ultrasound Market to Surpass US$ 2,362.24 Million by 2030, Says Coherent Market Insights (CMI)

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SEATTLE, June 09, 2022 (GLOBE NEWSWIRE) — According to Coherent Market Insights, the global cardiovascular ultrasound market is estimated to be valued at US$ 1,541.75 Million in 2022 and expected to exhibit a CAGR of 5.5% over the forecast period (2022-2030).

Key Trends and Analysis of the Global Cardiovascular Ultrasound Market:

Increasing government initiatives to increase awareness about cardiovascular diseases is expected to drive the market growth over the forecast period. In June 2020, the Australian government made an investment of AUD 29 million (US$ 22 million), under the Medical Research Future Fund’s (MRFF) Cardiovascular Health Mission. This was the first round of investment out of the total AUD 220 million (US$ 167 million) allotted for research in the management of cardiovascular diseases to prevent heart attack and stroke, which are the top most causes of death in Australia.

Furthermore, key market players are focusing on the adoption of inorganic growth strategies such as acquisition and collaboration in order to expand their product portfolio and presence in the global cardiovascular ultrasound market. For instance, in November 2021, Caption Health, a U.S.-based AI technology developer and Ultromics Limited, a U.K.-based digital health solutions provider, entered into a collaboration to develop artificial intelligence (AI)-based ultrasound analytics in order to accelerate detection and treatment of cardiovascular disease in more accessible care settings of skin care needs, including general dermatology, surgical, pathology, radiation, and cosmetic services.

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Key Market Takeaways:

The global cardiovascular ultrasound market is expected to exhibit a CAGR of 5.5% during the forecast period, owing to the increasing product launches and approval. For instance, in February 2022, FUJIFILM Sonosite, Inc., a medical ultrasound systems manufacturer, announced launch of its new, premium Sonosite LX system, which features a monitor that extends, rotates, and tilts to accommodate according to the varied clinical environments at the bedside. The clinical display features touchscreen controls to enable an optimized heads-up workflow, allowing clinicians to keep their eyes on the image while making adjustments. 

Among Modality, portable segment is estimated to account for the largest share in 2022 and is expected to retain its dominance over the forecast period owing to increasing launch of novel portable cardiovascular ultrasound devices, which is expected to drive the segment growth over the forecast period. For instance, in February 2022, Philips, a global leader in health technology, announced that it had expanded its ultrasound portfolio with advanced hemodynamic assessment and measurement capabilities on its handheld point-of-care ultrasound – Lumify. With the addition of Pulse Wave Doppler, it is used in various applications including cardiology, vascular, abdominal, urology, obstetrics, and gynecology.

Among End User, hospitals segment is expected to account for a significant share in the global cardiovascular ultrasound market, owing to increasing hospitalizations due to cardiovascular diseases. According to the Heart and Circulatory Disease Statistics 2019 by British Heart Foundation, around 310,885 hospital admissions were reported due to coronary heart disease in the National Health Services (NHS) Hospitals in the U.K. in 2017/18.

Competitive Landscape:

Key players operating in the global cardiovascular ultrasound market include GE Healthcare (General Electric Company), Koninklijke Philips N.V., FUJIFILM Holdings Corporation, Siemens Healthcare GmbH, Samsung Medison Co., Ltd., Shenzhen Mindray Bio-Medical Electronics Co., Ltd., ESAOTE SPA, and Canon Medical Systems, USA.

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Market segmentation:

  • Global Cardiovascular Ultrasound Market, By Test Type:
    • Transthoracic Echocardiogram
    • Transesophageal Echocardiogram
    • Stress Echocardiogram
    • Others
  • Global Cardiovascular Ultrasound Market, By Technology:
    • 2D
    • 3D & 4D
    • Doppler Imaging
  • Global Cardiovascular Ultrasound Market, By Modality:
    • Portable
    • Standalone
  • Global Cardiovascular Ultrasound Market, By End User:
    • Hospitals
    • Ambulatory Care Centers
    • Others
  • Global Cardiovascular Ultrasound Market, By Region:    
    • North America
      • By Country
        • U.S.
        • Canada
    • Latin America
      • By Country
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Country
        • Germany
        • U.K.
        • France 
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Country
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Country
        • GCC
        • Israel
        • Rest of Middle East
      • By Country/Region
        • South Africa
        • Central Africa
        • North Africa

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Ultrasound Devices Market, by Product Type (2D Ultrasound, 3D Ultrasound, 4D Ultrasound, Doppler Ultrasound, and High Frequency Focused Ultrasound), by Application (Cardiology, Radiology, Musculoskeletal, Obstetrics/Gynecology, and Others), by Device Portability (Trolley/Stationary Devices and Portable/Compact Devices), by End User (Hospitals, Diagnostic Centers, and Ambulatory Surgical Centers) – Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027

About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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