Cardiovascular Ultrasound Market worth $2.95 billion by 2030
The report "Cardiovascular Ultrasound Market by Technology (2D, 3D/4D, Doppler), Type ((Trans-Thoracic, Trans-Esophageal, Stress Echocardiogram), Fetal Ultrasound), Display (Color, B/W), End User (Hospitals, Diagnostic Centers, ASCS, Home Care) - Global Forecasts to 2030", cardiovascular ultrasound market is projected to reach USD 2.95 billion by 2030 from USD 1.56 billion in 2022, at a CAGR of 6.5% during the forecast period
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Factors such as the rising geriatric population more prone to develop cardiovascular diseases and growing awareness for early disease diagnosis are the key factors supporting the market growth. Moreover, rapid technological advancements and increasing product development initiatives from public/private organizations are further expected to support market growth.
Based on technology, the 3D/4D ultrasound segment registered the highest growth over the forecast period
The cardiovascular ultrasound market is segmented on technology into 2D, 3D/4D, and doppler ultrasound. The 3D/4D ultrasound segment registers the highest growth over the forecast period, owing to advantages offered by the technology, such as greater diagnostic accuracy, operational maneuverability, and cross-sectional imaging capabilities. Moreover, technological advancement & new product launches will further drive the segment growth.
North America to command the largest share of the cardiovascular ultrasound market in 2022
Based on region, the cardiovascular ultrasound market is segmented into North America, Europe, the Asia Pacific, Latin America, and Middle East & Africa. North America is estimated to account for the largest share of the cardiovascular ultrasound market in 2022. The growth of the North American market is primarily driven by the high prevalence of cardiovascular diseases, rapid adoption of technologically advanced imaging modalities, significant healthcare expenditure, and well-established regional players.
As of 2022, the prominent players in the cardiovascular ultrasound market include GE Healthcare (US), Hitachi Corporation (Japan), Samsung (South Korea), Siemens Healthineers (Germany), Philips Healthcare (Netherlands), Chison Medical Technologies (China), Clarius Mobile Health (Canada), Esaote (Italy), Ricso Technology (Israel), and SIUI (China), among others.
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