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Echocardiography Market

Publisher Fortune Business Insights Pvt. Ltd.
Published Sep 01, 2024
Length 151 Pages
SKU # FOB19185621

Description

Echocardiography Market



Growth Factors of Echocardiography Market

The echocardiography market size was valued at USD 1.84 billion in 2023, and the market is now projected to grow from USD 1.98 billion in 2024 to USD 3.48 billion by 2032, exhibiting a CAGR of 7.5% during the forecast period of 2024-2032.

The global echocardiography market growth significantly slowed to -8.3% in 2020 owing to COVID-19 restrictions and decreased patient consultations that delayed diagnostic and therapeutic invasive procedures. COVID-19 testing results were affected by the decrease in non-COVID-19 related diagnostics, which were considered less essential. Similarly, this affected the aspiration of cardiovascular devices, diminishing the market players’ revenue.

As the number of heart disorders rises through increasing urbanization, unhealthy diets and lack of sufficient physical activity, the demand for the echocardiography market share is established. Tobacco and alcohol produce more heart disease hazards when taken in large proportions than in moderate use. With the increased prevalence of heart diseases, the demand for diagnostic products remains high due to awareness campaigns and government campaigns on early detection of diseases.

Also, incorporating artificial intelligence and other emerging technologies into the Echo is helping the global echocardiography market expand due to enhanced results and more effective methods. The combination with AI improves the clinical processes and makes the echocardiograms accurate and specific. Larger organizations are directing more funds towards research and innovation to create new and enhanced gadgets, including three-dimensional imaging equipment and palm-sized ultrasound gadgets. Virtual reality also helps to provide clearer visions of how to approach a specific procedure. All these innovations meet the growing demand for global cardiovascular diagnostic services.

Comprehensive Analysis of Echocardiography Market

The market for echocardiography and the healthcare industry is expanding exponentially as the market is segmented. This market expansion provides essential and comprehensive regional appraisals concerning the overriding supply and demand forces prevailing in the medical device market. These segmentations are done systematically with segmentation by device types, by test types, by technology and by end users. The device type include, Cart Based and Handheld. The test type include, Transthoracic Echocardiography, Transesophageal Echocardiography, Stress Echocardiography and Others. The technology include, 2D, 3D & 4D and Doppler Imaging. The end-users include, Hospitals & ASCs, Diagnostic Centers and Others.

North America was the largest market in the year 2023, with a market share of USD 0.46 billion. The market's growth in the region is due to the increasing rates of coronary and peripheral heart diseases, the growing popularity of which is associated with an ageing population and the adoption of numerous companies operating in the market.

The top players in the market provide significant contributions to the healthcare industry while defining industrial prospectus growth and market standards. These players are FUJIFILM Holdings Corporation (Japan), Koninklijke Philips N.V. (Netherlands), Boston Scientific Corporation (U.S.), Canon Medical Systems Corporation (Canon Inc.) (Japan), ESAOTE SPA (Italy), CHISON Medical Technologies Co., Ltd (China), SAMSUNG ELECTRONICS Co., Ltd. (Korea), Siemens Healthineers AG (Germany) and General Electric Company (U.S.). These market players provide a level-playing competitive landscape.

In January 2023, Pie Medical Imaging launched CAAS Qardia 2.0, the latest version of echocardiography software platform.

Segmentation Table

Global Echocardiography Market Scope

Study Period 2019-2032

Base Year 2023

Forecast Period 2024-2032

Growth Rate CAGR of 7.5% from 2024 to 2032

Historical Period 2019-2022

Unit Value (USD Billion)

Segmentation By Device Type, Test Type, Technology, End-User and Region

By Device Type - Cart Based

- Handheld

By Test Type - Transthoracic Echocardiography

- Transesophageal Echocardiography

- Stress Echocardiography

- Others

By Technology - 2D

- 3D & 4D

- Doppler Imaging

By End- User - Hospitals & ASCs

- Diagnostic Center

- Others

By Region - North America (By Device Type, Test Type, Technology, End-user, and Country)
  • U.S.
  • Canada
- Europe (By Device Type, Test Type, Technology, End-user, and Country/Sub-region)
  • U.K.
  • Germany
  • France
  • Italy
  • Spain
  • Scandinavia
  • Rest of Europe
- Asia Pacific (By Device Type, Test Type, Technology, End-user, and Country/Sub-region)
  • Japan
  • China
  • India
  • Australia
  • Southeast Asia
  • Rest of Asia Pacific
- Latin America (By Device Type, Test Type, Technology, End-user, and Country/Sub-region)
  • Brazil
  • Mexico
  • Rest of Latin America
- Middle East and Africa (By Device Type, Test Type, Technology, End-user, and Country/Sub-region)
  • GCC
  • South Africa
  • Rest of Middle East & Africa


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Table of Contents

151 Pages
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
3.4. Market Trends
4. Key Insights
4.1. Prevalence of Cardiovascular Diseases, By Key Countries, 2022/2023
4.2. Technological Advancements in Echocardiography Market
4.3. New Product Launches, By Key Players
4.4. Key Industry Developments- Mergers, Partnerships, Acquisitions, etc.
4.5. Impact of COVID-19 on the Global Echocardiography Market
5. Global Echocardiography Market Analysis, Insights and Forecast, 2019-2032
5.1. Market Analysis, Insights and Forecast – By Device Type
5.1.1. Cart Based
5.1.2. Handheld
5.2. Market Analysis, Insights and Forecast – By Test Type
5.2.1. Transthoracic Echocardiography
5.2.2. Transoesophageal Echocardiography
5.2.3. Stress Echocardiography
5.2.4. Others
5.3. Market Analysis, Insights and Forecast – By Technology
5.3.1. 2D
5.3.2. 3D & 4D
5.3.3. Doppler Imaging
5.4. Market Analysis, Insights and Forecast – By End-user
5.4.1. Hospitals & ASCs
5.4.2. Diagnostic Center
5.4.3. Others
5.5. Market Analysis, Insights and Forecast – By Region
5.5.1. North America
5.5.2. Europe
5.5.3. Asia Pacific
5.5.4. Latin America
5.5.5. Middle East & Africa
6. North America Echocardiography Market Analysis, Insights and Forecast, 2019-2032
6.1. Market Analysis, Insights and Forecast – By Device Type
6.1.1. Cart Based
6.1.2. Handheld
6.2. Market Analysis, Insights and Forecast – By Test Type
6.2.1. Transthoracic Echocardiography
6.2.2. Transoesophageal Echocardiography
6.2.3. Stress Echocardiography
6.2.4. Others
6.3. Market Analysis, Insights and Forecast – By Technology
6.3.1. 2D
6.3.2. 3D & 4D
6.3.3. Doppler Imaging
6.4. Market Analysis, Insights and Forecast – By End-user
6.4.1. Hospitals & ASCs
6.4.2. Diagnostic Center
6.4.3. Others
6.5. Market Analysis, Insights and Forecast – By Country
6.5.1. U.S.
6.5.2. Canada
7. Europe Echocardiography Market Analysis, Insights and Forecast, 2019-2032
7.1. Market Analysis, Insights and Forecast – By Device Type
7.1.1. Cart Based
7.1.2. Handheld
7.2. Market Analysis, Insights and Forecast – By Test Type
7.2.1. Transthoracic Echocardiography
7.2.2. Transoesophageal Echocardiography
7.2.3. Stress Echocardiography
7.2.4. Others
7.3. Market Analysis, Insights and Forecast – By Technology
7.3.1. 2D
7.3.2. 3D & 4D
7.3.3. Doppler Imaging
7.4. Market Analysis, Insights and Forecast – By End-user
7.4.1. Hospitals & ASCs
7.4.2. Diagnostic Center
7.4.3. Others
7.5. Market Analysis, Insights and Forecast – By Country/Sub-region
7.5.1. Germany
7.5.2. U.K.
7.5.3. France
7.5.4. Italy
7.5.5. Spain
7.5.6. Scandinavia
7.5.7. Rest of Europe
8. Asia Pacific Echocardiography Market Analysis, Insights and Forecast, 2019-2032
8.1. Market Analysis, Insights and Forecast – By Device Type
8.1.1. Cart Based
8.1.2. Handheld
8.2. Market Analysis, Insights and Forecast – By Test Type
8.2.1. Transthoracic Echocardiography
8.2.2. Transoesophageal Echocardiography
8.2.3. Stress Echocardiography
8.2.4. Others
8.3. Market Analysis, Insights and Forecast – By Technology
8.3.1. 2D
8.3.2. 3D & 4D
8.3.3. Doppler Imaging
8.4. Market Analysis, Insights and Forecast – By End-user
8.4.1. Hospitals & ASCs
8.4.2. Diagnostic Center
8.4.3. Others
8.5. Market Analysis, Insights and Forecast – By Country/Sub-region
8.5.1. China
8.5.2. India
8.5.3. Japan
8.5.4. Australia
8.5.5. Southeast Asia
8.5.6. Rest of Asia Pacific
9. Latin America Echocardiography Market Analysis, Insights and Forecast, 2019-2032
9.1. Market Analysis, Insights and Forecast – By Device Type
9.1.1. Cart Based
9.1.2. Handheld
9.2. Market Analysis, Insights and Forecast – By Test Type
9.2.1. Transthoracic Echocardiography
9.2.2. Transoesophageal Echocardiography
9.2.3. Stress Echocardiography
9.2.4. Others
9.3. Market Analysis, Insights and Forecast – By Technology
9.3.1. 2D
9.3.2. 3D & 4D
9.3.3. Doppler Imaging
9.4. Market Analysis, Insights and Forecast – By End-user
9.4.1. Hospitals & ASCs
9.4.2. Diagnostic Center
9.4.3. Others
9.5. Market Analysis, Insights and Forecast – By Country/Sub-region
9.5.1. Brazil
9.5.2. Mexico
9.5.3. Rest of Latin America
10. Middle East & Africa Echocardiography Market Analysis, Insights and Forecast, 2019-2032
10.1. Market Analysis, Insights and Forecast – By Device Type
10.1.1. Cart Based
10.1.2. Handheld
10.2. Market Analysis, Insights and Forecast – By Test Type
10.2.1. Transthoracic Echocardiography
10.2.2. Transoesophageal Echocardiography
10.2.3. Stress Echocardiography
10.2.4. Others
10.3. Market Analysis, Insights and Forecast – By Technology
10.3.1. 2D
10.3.2. 3D & 4D
10.3.3. Doppler Imaging
10.4. Market Analysis, Insights and Forecast – By End-user
10.4.1. Hospitals & ASCs
10.4.2. Diagnostic Center
10.4.3. Others
10.5. Market Analysis, Insights and Forecast – By Country/Sub-region
10.5.1. South Africa
10.5.2. GCC
10.5.3. Rest of Middle East & Africa
11. Competitive Analysis
11.1. Global Market Share Analysis (2023)
11.2. Company Profiles
11.2.1. FUJIFILM Holdings Corporation
11.2.1.1. Overview
11.2.1.2. Products & Services
11.2.1.3. SWOT Analysis
11.2.1.4. Recent Developments
11.2.1.5. Strategies
11.2.1.6. Financials (Based on Availability)
11.2.2. Koninklijke Philips N.V.
11.2.2.1. Overview
11.2.2.2. Products & Services
11.2.2.3. SWOT Analysis
11.2.2.4. Recent Developments
11.2.2.5. Strategies
11.2.2.6. Financials (Based on Availability)
11.2.3. Boston Scientific Corporation
11.2.3.1. Overview
11.2.3.2. Products & Services
11.2.3.3. SWOT Analysis
11.2.3.4. Recent Developments
11.2.3.5. Strategies
11.2.3.6. Financials (Based on Availability)
11.2.4. Canon Medical Systems Corporation (Canon Inc.)
11.2.4.1. Overview
11.2.4.2. Products & Services
11.2.4.3. SWOT Analysis
11.2.4.4. Recent Developments
11.2.4.5. Strategies
11.2.4.6. Financials (Based on Availability)
11.2.5. ESAOTE SPA
11.2.5.1. Overview
11.2.5.2. Products & Services
11.2.5.3. SWOT Analysis
11.2.5.4. Recent Developments
11.2.5.5. Strategies
11.2.5.6. Financials (Based on Availability)
11.2.6. CHISON Medical Technologies Co., Ltd
11.2.6.1. Overview
11.2.6.2. Products & Services
11.2.6.3. SWOT Analysis
11.2.6.4. Recent Developments
11.2.6.5. Strategies
11.2.6.6. Financials (Based on Availability)
11.2.7. SAMSUNG ELECTRONICS Co., Ltd.
11.2.7.1. Overview
11.2.7.2. Products & Services
11.2.7.3. SWOT Analysis
11.2.7.4. Recent Developments
11.2.7.5. Strategies
11.2.7.6. Financials (Based on Availability)
11.2.8. Siemens Healthineers AG
11.2.8.1. Overview
11.2.8.2. Products & Services
11.2.8.3. SWOT Analysis
11.2.8.4. Recent Developments
11.2.8.5. Strategies
11.2.8.6. Financials (Based on Availability)
11.2.9. General Electric Company
11.2.9.1. Overview
11.2.9.2. Products & Services
11.2.9.3. SWOT Analysis
11.2.9.4. Recent Developments
11.2.9.5. Strategies
11.2.9.6. Financials (Based on Availability)

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