Cardiovascular Ultrasound Market Growth & Trends
The global cardiovascular ultrasound market size is expected to reach USD 2.33 billion by 2028, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 6.7% over the forecast period. Rising investment in the Medtech industry, increasing R&D activities, and high prevalence of cardiovascular diseases are the key factors driving market growth.
Benefits associated with cardiovascular ultrasound over conventional methods include quick recovery, reduced span of hospitalization, and fewer post-operative complications. These benefits along with the rising geriatric population are expected to propel the demand for cardiovascular ultrasound diagnosis over the forecast period.
North America captured the largest market share in 2017. Favorable reimbursement framework and presence of a large number of industry players are some of the major factors which can be attributed to regional growth. The rising geriatric population coupled with sophisticated healthcare infrastructure is expected to further fuel market growth in the region. Furthermore, increasing health awareness is driving demand.
Some of the key players in the cardiovascular ultrasound market include Philips; GE Healthcare, Inc.; Hitachi; Fujifilm Medical Systems; Siemens Healthcare; and Canon Medical Systems Corporation.
Cardiovascular Ultrasound Market Report Highlights
- Cardiovascular ultrasound market was valued at USD 1.38 billion in 2017 and is expected to grow lucratively over the forecast period
- Fetal echocardiography segment is anticipated to expand at the fastest CAGR
- Doppler segment was valued at USD 0.6 billion in 2017 and is anticipated to rise at a lucrative CAGR during the forecast period
- Ambulatory care centers segment is expected to witness the fastest CAGR in the forthcoming years.