Cardiac Ultrasound Systems Market Report 2022: Consistent Levels of R&D Driving Sector Growth
The Cardiac Ultrasound Systems Market exhibited year-on-year growth of 5.9% in 2021, backed by introduction of mobile connectivity in handheld wireless cardiac ultrasound systems and growing preference for real-time imaging solutions among patients. Future Market Insights (FMI) states that cardiac ultrasound systems market revenue grew by 6% between 2016 and 2020. It is predicted that sales will increase at a CAGR of 5.0%between 2021 and 2031.
Growing preference for connected ultrasound systems for
real-time diagnosis among patients marks a recent milestone, shaping the
performance of cardiac ultrasound systems landscape.
The World Health Organization (WHO) reports that more than
17 million people die from cardiovascular disorders globally each year. Rise in
referrals to cardiologists due to complications and rapid technological
advancements to make the existing cardiac ultrasound devices more compact and user-friendly
will positively influence the market growth throughout the forecast period.
The global cardiac ultrasound systems landscape is slated
for positive growth prospects in the near future due to increasing efforts to
develop stronger distribution channel and manufacturers switching to emerging
countries to attain high return of investments.
Surge in number of specializations in imaging and
radiological technology along with dramatically growing number of independent
imaging centers will provide impetus to revenue growth in upcoming years.
Portable cardiac ultrasound systems are expected to
exhibit remarkable market penetration in recent years, due to growing
popularity of bedside ultrasonography among people.
Lack of favorable reimbursement and insurance policies
along with high cost of equipment are impeding the sales of cardiac ultrasound
systems, especially in developing economies.
Lack of adequate grants from government and requirement of
high capital investments for installation of modern cardiac ultrasound systems
will further hinder the market growth.
Key Takeaways from FMI’s Cardiac ultrasound
systems Market Study
- North
America cardiac ultrasound systems market will exhibit steady growth at
4.70% CAGR through 2031, driven by increasing demand for portable and
attractive cardiac devices among cardiologists in U.S. and Canada.
- European
cardiac ultrasound systems market led by Germany, France, and Italy is
forecast to grow at 5.30% CAGR during the forecast period. Rise in growth
can be attributed to increasing government spending on healthcare and
presence of top manufacturers in the region.
- Increasing
cases of cardiovascular and lifestyle diseases in India will drive the
demand for cardiac ultrasound systems in the country.
- In
2021, Japan and South Korea are estimated to account for 20% and less than
4% share respectively of the Asia Pacific cardiac ultrasound system
market. Rising geriatric population and increasing popularity of online
sales are key growth drivers in these countries.
- By
product type, hand-held ultrasound systems sales are projected
to surpass the market valuation of US$ 2,300 Mn at a CAGR of 6.5% in 2021.
Integration of 4D imaging technology and internet of things (IoT) will
drive the market growth of this segment.
“Continuous development to increase efficiency of
healthcare devices will influence the demand for cardiac ultrasound systems
across the globe. Increasing demand for lightweight and portable cardiac
ultrasound systems from mobile clinics will boost the market in the upcoming
years,” says the FMI analyst.
Who is Winning?
Future Market Insights presents analysis on the key trends
affecting the cardiac ultrasound systems market and discusses the strategies
adopted by market players to strengthen their position. It estimated that the
cardiac ultrasound systems market is dominated by GE Company, Fujifilm,
Holdings Corporation, Siemens AG, Koninklijke Philips N.V., Toshiba Medical
System Corp., Hitachi Medical Corp., and Esaote SpA as they hold majority of
market share in 2021.
Leading market players are focusing on strategic merger,
acquisitions, and partnerships to expand their product portfolio. Smaller
players are concentrating on strengthening their value chain to gain
significant market share, says FMI.
In order to cater growing the patient pool with
cardiovascular diseases and high demand for non invasive diagnostics,
manufacturers are focusing on new product development.
In 2020, Siemens Healthineers India launched new ACUSON
redwood ultrasound system at Gandhinagar. This advanced system precisely
detects lesions and characteristics. It is installed with artificial
intelligence (AI) powered tools to reduce the exam burden and improve
efficiency.
In 2018, Philips introduced new cardiac ultrasound
solutions “EPIQ CVx” equipped with anatomical intelligence which offers
customized applications for diagnostic, pediatric and interventional
echocardiography. EPIQ CVx has faster data processing, high quality imaging,
and automated quantification and tailored exam tools developed to assist
cardiologists in delivering better care.
Prominent Players :
- Hitachi,
Ltd.
- Analogic
Corporation
- Toshiba
Corporation
- Esaote
SpA
- Samsung
Medison Co. Ltd
- FUJIFILM
Holdings Corporation
- Mindray
Medical International Ltd.
- GE
Healthcare
Key Segments Covered In Cardiac Ultrasound
Systems Market Study:
By Product:
- Cardiac
system
- Ultrasound
system
- Cart/Trolley
Cardiac Ultrasound Devices
- Compact/Handheld
Ultrasound Scanners
By End User:
- Hospitals
And Clinics
- Diagnostic
Imaging And Surgical Centers
- Ambulatory
Surgical Centers
- Others
Get
More Details@ https://www.futuremarketinsights.com/reports/cardiac-ultrasound-systems-market
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