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Global Echocardiography Market 2017-2021

Global Echocardiography Market 2017-2021

About Echocardiography

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:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Echocardiography Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • GE Healthcare
  • Koninklijke Philips
  • Siemens Healthcare
  • Toshiba Medical Systems
Other prominent vendors
  • 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
  • TELEMED Medical Systems
Market driver
  • Increasing prevalence of cardiac disorders
  • For a full, detailed list, view our report
Market challenge
  • High initial set-up and maintenance costs
  • For a full, detailed list, view our report
Market trend
  • Increasing guidelines likely to fuel market growth
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

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.

Companies Mentioned

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

  • Executive summary
  • Scope of the report
  • Research Methodology
  • Introduction
    • Key market highlights
  • Market landscape
    • Market overview
      • Table Snapshot of global echocardiography market 2016
      • Table Factors impacting echocardiography market 2016
      • Table Global echocardiography market 2016-2021 ($ millions)
      • Table Opportunity analysis of global echocardiography market 2016
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by product type
    • Table Global echocardiography market segmentation by product type 2016 and 2021 (%)
    • Table Global echocardiography market segmentation by product type 2016
    • Table Growth lifecycle analysis: Global echocardiography market segmentation by product type 2016
    • Cart-/trolley-based echocardiography devices
      • Table Global cart-/trolley-based echocardiography devices market 2016-2021 ($ millions)
    • Portable/handheld echocardiography devices
      • Table Global portable/handheld echocardiography devices market 2016-2021 ($ millions)
      • Table Global echocardiography market segmentation by product type 2016-2021 ($ millions)
      • Table Global echocardiography market segmentation by product type 2016-2021 (%)
      • Table Market insights of global echocardiography market by product type 2016-2021
  • Market segmentation by technology
    • Table Global echocardiography market segmentation by technology type
    • 2D echocardiography
    • 3D echocardiography
    • 4D echocardiography
    • 5D echocardiography
    • Doppler echocardiography
  • Market segmentation by end-users
    • Table Global echocardiography market by end-users 2016
    • Hospitals
    • Diagnostic centers
    • Others
  • Geographical segmentation
    • Table Global echocardiography market segmentation by geography 2016 and 2021 (%)
    • Table Global echocardiography segmentation by geography 2016-2021 ($ millions)
    • Table Global echocardiography market segmentation by geography 2016-2021 (%)
    • Table Global echocardiography market segmentation by geography 2016
    • Table Growth lifecycle analysis: Echocardiography market segmentation by geography 2016
    • Echocardiography market in Americas
      • Table Echocardiography market in Americas 2016-2021 ($ millions)
    • Echocardiography market in EMEA
      • Table Echocardiography market in EMEA 2016-2021 ($ millions)
    • Echocardiography market in APAC
      • Table Echocardiography market in APAC 2016-2021 ($ millions)
  • Decision framework
  • Drivers and challenges
    • Market drivers
      • Table Reimbursement codes for echocardiography procedure in US
    • Impact of drivers on key customer segments
      • Table Impact of drivers
    • Market challenges
    • Impact of challenges on key customer segments
      • Table Impact of challenges
  • Market trends
    • Growing demand for handheld or portable echocardiography devices
    • Growing use of AFI with echocardiography
    • Increasing guidelines likely to fuel market growth
    • Emergence of 5D imaging technology expanding echocardiography applications
  • Vendor landscape
    • Competitive scenario
      • Table Competitive structure analysis of global echocardiography market 2016
      • Table Market share of global echocardiography market 2016
      • Table Market penetration of various manufacturers of global echocardiography market 2016
      • Table Strategic success factors of companies in global echocardiography market
    • Key news
  • Key vendor analysis
    • GE Healthcare
      • Table GE Healthcare: Key highlights
      • Table GE Healthcare: Strength assessment
      • Table GE Healthcare: Strategy assessment
      • Table GE Healthcare: Opportunity assessment
    • Koninklijke Philips
      • Table Koninklijke Philips: Key highlights
      • Table Koninklijke Philips: Strength assessment
      • Table Koninklijke Philips: Strategy assessment
      • Table Koninklijke Philips: Opportunity assessment
    • Siemens Healthcare
      • Table Siemens Healthcare: Key highlights
      • Table Siemens Healthcare: Strength assessment
      • Table Siemens Healthcare: Strategy assessment
      • Table Siemens Healthcare: Opportunity assessment
    • Toshiba Medical Systems
      • Table Toshiba Medical Systems: Key highlights
      • Table Toshiba Medical Systems: Strength assessment
      • Table Toshiba Medical Systems: Strategy assessment
      • Table Toshiba Medical Systems: Opportunity assessment
    • Other prominent vendors
  • Appendix
    • List of abbreviations
  • Explore Technavio

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