Echocardiography Market Forecasts to 2030 – Global Analysis By Type (Transesophageal, Echocardiography, Transthoracic Echocardiography, Stress Echocardiography, Intracardiac Echocardiography and Other Types), Device Display (CCD Colour Display and Black &

Echocardiography Market Forecasts to 2030 – Global Analysis By Type (Transesophageal, Echocardiography, Transthoracic Echocardiography, Stress Echocardiography, Intracardiac Echocardiography and Other Types), Device Display (CCD Colour Display and Black & White (B/W) Display), Technology, End User and By Geography

According to Stratistics MRC, the Global Echocardiography Market is accounted for $1.9 billion in 2023 and is expected to reach $3.5 billion by 2030 growing at a CAGR of 9.5% during the forecast period. Echocardiography, commonly known as an echo or cardiac ultrasound, creates images of the heart using sound waves in order to look for any cardiovascular illness. With the use of this tool, blood clots may be found and the chambers and valves of the heart can be studied. Transthoracic, transesophageal, and stress cardiac ultrasonography are three different cardiac ultrasound examinations that are utilised for various diagnostic procedures. Due to its non-invasive nature, transthoracic cardiac ultrasonography is the most often utilised diagnostic procedure for identifying heart problems.

According to the British Heart Foundation data published in 2022, around 1.5 billion people in the U.K. have been diagnosed with atrial fibrillation.

Market Dynamics

Driver

Growing demand for minimally invasive cardiac treatments and rising prevalence of heart disease

The rising incidence of heart disease and the rising demand for less invasive cardiac operations. Additionally, the development of integrated systems that combine ICE with other imaging modalities and technological developments in echocardiography systems, such as enhanced picture quality, are anticipated to further propel market expansion. Additionally there is an increasing demand for minimally invasive cardiac operations since they are less painful, require fewer hospital stays, and have quicker recovery times. During these surgeries, echocardiography is frequently utilised as a guide for inserting catheters and other devices into the heart.

Restraint

Lack of skilled professionals

The use of echocardiography requires specialized training and expertise. The shortage of skilled professionals who can operate these systems may limit its adoption. Moreover there are alternative imaging techniques, such as transesophageal echocardiography (TEE) and magnetic resonance imaging (MRI), which may compete with echocardiography for market share.

Opportunity

Pulse doppler advances deliver high resolution heart images

The market for echocardiography is seeing an increase in interest in the idea of portable ultrasound. Nuclear cardiology for diagnostic purposes faces a significant competitive challenge from echocardiography. However, improvements in pulse doppler are making it possible to implant trustworthy probes into the oesophagus to increase the resolution of cardiac imaging. Companies in the echocardiography industry are investing more in research and development (R&D) for acoustic quantification methods that aid in identifying and keeping track of the line where the inner margin of the myocardium and blood pool meets is encouraging the doctors to much prefer echocardiography.

Threat

Associated Limitations

Portable cardiac ultrasonography equipment has several restrictions. Despite being smaller in size, they have a smaller screen, which may affect the diagnosis. With fewer ultrasonic frequencies, the resolution is poorer, and the image optimisation is subpar. Additionally, they may only use 2D pictures. As a result, the bulk and expensive price of these gadgets may prevent widespread use in the years to come.

Covid-19 Impact

During COVID-19, the market experienced a decline in its growth. Fewer patients visiting the clinics and hospitals for cardiovascular disease diagnosis and treatment and the postponement of non-emergency procedures were responsible for the decline. The global market experienced a decline of 8.3% in 2020 as compared to the past year. During this period, non-COVID-19-related diagnostic procedures were considered low-priority, which caused a significant decrease in the testing volume of cardiovascular disorders.

The Intracardiac Echocardiography segment is expected to be the largest during the forecast period

The Intracardiac Echocardiography segment is estimated to have a lucrative growth, due to the use of a tiny ultrasonic probe that is put within the heart, a medical imaging procedure known as intracardiac echocardiography (ICE) can produce pictures of the heart's chambers, valves, and blood veins. The market is fuelled by reasons such the increased incidence of heart illness, the need for less invasive cardiac operations, and improvements in ICE system technology that increase its accuracy and use.

The 3D & 4D (Three-Dimensional Echocardiography & 4DEchocardiography) segment is expected to have the highest CAGR during the forecast period

The 3D & 4D (Three-Dimensional Echocardiography & 4DEchocardiography) segment is anticipated to witness the highest CAGR growth during the forecast period, due to The characteristics of this technology, including as good picture quality, realistic anatomical images, the capacity to offer volume measurement, and the ability to see septal abnormalities, have contributed to the segment's rise.

Region with largest share

North America is projected to hold the largest market share during the forecast period owing to widespread acceptance of new and innovative goods, great knowledge of the range of medical treatments available, and major infrastructure investment supporting medical treatments. Other significant drivers propelling the market in the area include favourable government assistance for healthcare infrastructure and research and development of echocardiography.

Region with highest CAGR

Asia Pacific is projected to have the highest CAGR over the forecast period, owing to the vast population suffering from cardiovascular illnesses in India and China, combined with the presence of unexplored potential and increased awareness of medical conditions in Asia Pacific, all contribute to the market's growth. Due to lifestyle factors including smoking, excessive weight, and elevated blood sugar levels, the risk of cardiovascular disease is higher in South Asia, India, China, and Australia.

Key players in the market

Some of the key players profiled in the Echocardiography Market include Siemens Healthcare GmbH, Conavi Medical, Boston Scientific Corporation, Abbott Laboratories, Koninklijke Philips NV, Goodman USA, Inc, Shifamed LLC (NuVera Medical), Johnson & Johnson Services Inc., Stereotaxis Inc., GE Healthcare, B. Braun Melsungen AG, FUJIFILM Holdings Corporation, SAMSUNG ELECTRONICS Co., Ltd, ESAOTE SPA, Meditronic, Terumo Corporation and St. Jude Medical

Key Developments

In September 2022, Samsung Electronics Co., Ltd. announced the launch of V7 ultrasound system. The system possesses AutoIMT tool for analyzing a patient's potential risk for cardiovascular disease.

In March 2022, Koninklijke Philips N.V. announced the launch of Ultrasound Workspace at the American College of Cardiology’s Annual Scientific Session & Expo (ACC 2022).

In February 2022, Koninklijke Philips N.V. added Pulse Wave Doppler technology to Lumify, a handheld ultrasound device. The update aims to expand the hemodynamic assessment and measurement capabilities of the system.

Types Covered
• Transesophageal Echocardiography
• Transthoracic Echocardiography
• Stress Echocardiography
• Intracardiac Echocardiography
• Fetal Echocardiography
• Other Types

Device Displays Covered
• Colour Display
• Black & White (B/W) Display

Technologies Covered
• 2D (Two-Dimensional Echocardiography)
• 3D & 4D (Three-Dimensional Echocardiography & 4D Echocardiography)
• Doppler Imaging

End Users Covered
• Diagnostic Center
• Hospitals
• Ambulatory/Home Care
• Pharmaceutical Companies
• Research Institutes
• Other End Users

Regions Covered
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements