Cardiovascular Ultrasound Imaging Systems Market: Current Analysis and Forecast (2023-2030)

Cardiovascular Ultrasound Imaging Systems Market: Current Analysis and Forecast (2023-2030)

The cardiovascular ultrasound system market is projected to grow due to several factors, including the increasing number of elderly individuals, the increasing occurrence of cardiovascular diseases, the rising prevalence of sedentary lifestyles, and the growing number of regulatory approvals for cardiovascular ultrasound systems. As a result, the market for cardiovascular ultrasound systems is anticipated to expand during the forecast period.

Cardiovascular diseases, such as heart disease and stroke, are among the leading causes of death worldwide. As the global population ages, the incidence of these diseases is expected to increase, driving demand for cardiovascular ultrasound imaging systems. For instance, according to the World Health Organization (WHO) estimates that In 2020, an estimated 17.9 million people died from CVDs, representing 31% of all global deaths. Of these deaths, an estimated 7.1 million were due to coronary heart disease, 6.2 million were due to stroke, and 4.6 million were due to other CVDs. CVDs were the leading cause of death for both men and women, and the leading risk factor for death and disability worldwide.

The Cardiovascular Ultrasound Imaging Systems Market is expected to grow at a strong CAGR of ~4% during the forecast period owing to the rising incidence of cardiovascular diseases, increasing awareness and diagnosis, growing demand for non-invasive diagnostic procedures.

• Based on product type, the cardiovascular ultrasound imaging systems market is bifurcated into cart/trolley based and compact/handheld ultrasound devices. Amongst these, the compact/handheld ultrasound devices sub-segment had a significant revenue share in 2022, as these devices offer numerous benefits. Their compact size, ease of use, and cloud-based storage potential make them highly convenient for examining patients at the bedside. Moreover, software upgrades that incorporate artificial intelligence and other enhancements increase the functionality of these devices. Technological advancements in handheld ultrasound devices are also likely to boost the global market growth for cardiovascular ultrasound systems. For instance, the launch of the Clarius PA HD hand-held, wireless ultrasound scanner in November 2020 has also created new opportunities for the market. The device is small and wireless, making it easy to disinfect and use for COVID-19 screening and monitoring. The fact that it is also high-resolution and has a cloud-based storage potential adds to its appeal. The interplay of these factors is likely to drive the demand for cardiovascular ultrasound systems in the market during the forecast period.
• By technology, the market is segmented into 2D-Ultrasound, 3D-Ultrasound, 4D-Ultrasound, and Doppler. Among these, doppler captured the majority share of the cardiovascular ultrasound imaging systems market in 2022. The doppler system is the most popular and widely used type of cardiovascular ultrasound system due to its ability to provide clear images in a shorter amount of time. The demand for Doppler systems is increasing in developing countries such as India and China due to the increasing adoption of advanced medical technology in these regions. This method has gained popularity in recent years due to its accuracy and ease of use. In addition, workshops and training sessions on Doppler echocardiography have helped to increase its adoption among medical professionals. For example, in March 2019, Radcliffe Cardiology conducted a workshop on 2D and Doppler echocardiography in Vail, Colorado, which covered various topics related to the use of Doppler technology for cardiac imaging. The advancement of Doppler technology is expected to further enhance the quality of cardiac imaging and drive the growth of the segment.
• Based on end-users, the market is segmented into hospitals, cardiology centers, ambulatory surgical centers, and others. The hospital segment is expected to hold the maximum revenue share in the global cardiovascular ultrasound system market during the forecast period. This is because hospitals are equipped with advanced medical facilities and have a large number of patients, making them a prime target for the adoption of cardiovascular ultrasound systems. Additionally, hospitals typically have a larger budget for medical equipment purchases, which enables them to invest in high-end systems that offer superior imaging quality.
• For a better understanding of the market adoption of the cardiovascular ultrasound imaging systems industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), and Rest of World. North America dominated the cardiovascular ultrasound imaging systems market in 2022. The increasing prevalence of sedentary lifestyles and rising regulatory approvals for cardiovascular ultrasound systems are some of the factors driving the demand in the North America market. For instance, according to the Centers for Disease Control and Prevention (CDC), over 15% of adults in the United States are physically inactive, which increases their risk of developing cardiovascular diseases. In addition to these factors, the rising awareness about the benefits of using ultrasound systems for the diagnosis of cardiovascular diseases and the increasing availability of advanced ultrasound systems with advanced features are expected to drive the demand for cardiovascular ultrasound systems in the North America market. The growing demand for these systems in hospitals, clinics, and diagnostic centers is also expected to boost the market growth.
• Some of the major players operating in the market include Koninklijke Philips N.V., Hitachi Ltd, Siemens Healthcare GmbH, CANON MEDICAL SYSTEMS CORPORATION, General Electric Company, ESAOTE SPA, SAMSUNG HEALTHCARE, Shenzhen Mindray Bio-Medical Electronics Co Ltd, FUJIFILM Sonosite Inc , and Boston Scientific Corporation.

The Cardiovascular Ultrasound Imaging Systems Market is expected to grow at a strong CAGR of ~4% during the forecast period. The growing aging population is a significant driver of the cardiovascular ultrasound system market. According to data from the World Health Organization (WHO) published in October 2021, the number of individuals aged 60 years and above is expected to double from 12-22% between 2015 and 2050, and reach 2.1 billion by 2050. By 2030, one in every six people in the world is projected to be aged 60 years or older. As individuals age, their risk of developing cardiovascular diseases such as heart attack, congenital heart disease, coronary artery disease, aorta disease, and others increases. This trend is expected to drive the demand for cardiovascular ultrasound systems, resulting in a surge in the market growth during the forecast period.

Some of the major players operating in the market include Koninklijke Philips N.V., Hitachi Ltd, Siemens Healthcare GmbH, CANON MEDICAL SYSTEMS CORPORATION, General Electric Company, ESAOTE SPA, SAMSUNG HEALTHCARE, Shenzhen Mindray Bio-Medical Electronics Co Ltd, FUJIFILM Sonosite Inc , and Boston Scientific Corporation.

Insights Presented in the Report

“Amongst product type, the compact/handheld ultrasound devices sub-segment had a significant revenue share in 2022”

Based on product type, the cardiovascular ultrasound imaging systems market is bifurcated into cart/trolley based and compact/handheld ultrasound devices. Amongst these, the compact/handheld ultrasound devices sub-segment had a significant revenue share in 2022, as these devices offer numerous benefits. Their compact size, ease of use, and cloud-based storage potential make them highly convenient for examining patients at the bedside. Moreover, software upgrades that incorporate artificial intelligence and other enhancements increase the functionality of these devices. Technological advancements in handheld ultrasound devices are also likely to boost the global market growth for cardiovascular ultrasound systems. For instance, the launch of the Clarius PA HD hand-held, wireless ultrasound scanner in November 2020 has also created new opportunities for the market. The device is small and wireless, making it easy to disinfect and use for COVID-19 screening and monitoring. The fact that it is also high-resolution and has a cloud-based storage potential adds to its appeal. The interplay of these factors is likely to drive the demand for cardiovascular ultrasound systems in the market during the forecast period.

“North America dominated the Cardiovascular Ultrasound Imaging Systems Market in 2022”

North America dominated the cardiovascular ultrasound imaging systems market in 2022. The increasing prevalence of sedentary lifestyles and rising regulatory approvals for cardiovascular ultrasound systems are some of the factors driving the demand in the North America market. For instance, according to the Centers for Disease Control and Prevention (CDC), over 15% of adults in the United States are physically inactive, which increases their risk of developing cardiovascular diseases. In addition to these factors, the rising awareness about the benefits of using ultrasound systems for the diagnosis of cardiovascular diseases and the increasing availability of advanced ultrasound systems with advanced features are expected to drive the demand for cardiovascular ultrasound systems in the North America market. The growing demand for these systems in hospitals, clinics, and diagnostic centers is also expected to boost the market growth.

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