Global Echocardiography Market 2017-2021
An echocardiogram is a type of ultrasound examination, which uses high-pitched sound waves that pass through a device called a transducer. The device receives echoes of the sound waves as they bounce off to different areas of the heart. These echoes are converted into moving pictures of the heart, which can be seen on a video screen. Echocardiography is an important modality for diagnosing heart diseases. Multi-specialty hospitals with good infrastructure facilities and comprising more than 500 beds use over 10,000 cart-based, laptop/dockable, and portable/handheld echocardiography devices to diagnose and monitor patients. The growing technological advancements further help to develop three-dimensional (3D) modality software based on echocardiography systems to provide 3D images of the anatomical function of the heart.
Technavio’s analysts forecast the global echocardiography market to grow at a CAGR of 4.31% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global echocardiography market for 2017-2021. To calculate the market size, the report considers the revenue generated from the echocardiography.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Electrocardiography Market 2017-2021
Technavio recognizes the following companies as the key players in the global electrocardiography market: GE Healthcare, Koninklijke Philips, Siemens Healthcare, and Toshiba Medical Systems
Other Prominent Vendors in the market are: ALPINION MEDICAL SYSTEMS, Bay Labs, Biosense Webster, Boston Scientific, Bracco Imaging, Carestream Health, CHISON, ContextVision, Digirad, Ecare Medical Technology, Esaote, Fujifilm, Hitachi, MediMatic, Mobisante, Samsung Medison, MIDAS Software Solutions, St. Jude Medical, and TELEMED Medical Systems
Commenting on the report, an analyst from Technavio’s team said: “AFI offers a clinical decision support tool for evaluating left ventricular function at rest. When the left ventricular function is visualized but the assessment is questionable, AFI harnesses computerized quantitative assessment to visualize potential wall motion abnormalities. AFI can also be used to differentiate disease from non-disease segments and to understand more about the various strain patterns of specific disease types. AFI also reduces left ventricular function assessment variability and streamlines workflow besides improving laboratory quality assurance. The clinician chooses the views to activate the algorithm. The algorithm differentiates tissue from blood space to enhance accuracy when defining the region of interest. For instance, AFI is available on GE Healthcare’s multiple Vivid products such as Vivid S70, Vivid S60, Vivid E90, Vivid iq Premium, and EchoPAC. Some of the advantages of this method include clear assessment of left ventricular function than the Western medicines (WM) methods (standard echo methods), better quantitative assessment of the contractility function of the heart, and less dependency on operator. It also works up to heart rates of 120 beats/minute. Also, AFI has the potential to lower overall costs. For instance, the Medicare cost (average) of an AFI assessment is 50% lower than SPECT. Therefore, the vendors are increasingly integrating echocardiogram with AFI. Also, there have been increasing studies conducted on AFI, and the research was shown to be useful in cancer patients after treatment with chemotherapy, diabetes, and valve diseases. Some of the other areas of application include the diagnosis of hypertrophic cardiomyopathy and amyloidosis. Thus, the growing use of the AFI technology in echocardiography will lead to a surge in demand for echocardiography devices globally in the coming years.”
According to the report, the growing technological advancements are expected to fuel the global echocardiography market growth. Vendors are increasingly focusing on developing new advanced echocardiography systems with advanced features for providing better diagnostic images of the heart by using ultrasound waves. For instance, Toshiba Medical Systems is offering Aplio i-series ultrasound system, which is used for cardiac application to diagnose or evaluate the condition of the heart. Aplio i-series uses ultra-high frequency linear transducer parallel signal processing to handle extremely large volumes of data at high speed. Also, vendors are focusing on the development of advanced image-capable echocardiography with the use of an injectable suspension. For instance, in February 2017, Lantheus Medical Imaging received the US FDA approval for DEFINITY (perflutren lipid microsphere), an injectable suspension. DEFINITY is indicated for use in individuals with suboptimal echocardiograms to opacify the left ventricular chamber. In addition, Koninklijke Philips is offering QLAB cardiac analysis ultrasound software to provide better data management and clear imaging. Further, vendors are focusing on the development of Anatomically Intelligent Ultrasound (AIUS) application to detect and quantify the left ventricle and left atrium volumes and ejection fraction with live 3D volume. Koninklijke Philips has developed the HeartModelᴬ AIUS, which offers advanced automated quantification, 3D views, robust reproducibility, and time saving of up to 82% to everyday echocardiography.
Further, the report states that the presence of various alternatives is expected to hamper the market growth. Although there is increased demand for echocardiograms for diagnosing various heart-related diseases, the availability of other diagnostic methods hinders the market growth. For instance, a coronary angiogram is a gold standard for the detection of blockage in the heart. This procedure uses contrast dye, which contains iodine, and X-ray pictures to diagnose blockages in the coronary arteries. This procedure is also used to diagnose coronary heart disease and coronary microvascular disease following chest pain, sudden cardiac arrest, or other abnormal results from tests such as an ECG of the heart or an exercise stress test. Generally, coronary angiography is performed with a cardiac catheterization procedure, which is an invasive method. However, end-users in developing economies still prefer the invasive methods such as coronary angiogram owing to its cost-effectiveness. In addition, the availability of traditional diagnostic methods such as chest X-ray, ECG, stress test, CT scan, MRI scan, and myocardial biopsy will hamper the adoption rates of an echocardiogram.
GE Healthcare, Koninklijke Philips, Siemens Healthcare, Toshiba Medical Systems, ALPINION MEDICAL SYSTEMS, Bay Labs, Biosense Webster, Boston Scientific, Bracco Imaging, Carestream Health, CHISON, ContextVision, Digirad, Ecare Medical Technology, Esaote, Fujifilm, Hitachi, MediMatic, Mobisante, Samsung Medison, MIDAS Software Solutions, St. Jude Medical, and TELEMED Medical Systems