Cardiovascular Ultrasound Imaging Systems Market by Product and Geography - Forecast and Analysis 2022-2026

The cardiovascular ultrasound imaging systems market share is expected to increase to USD 592.22 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.44%.

This cardiovascular ultrasound imaging systems market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers cardiovascular ultrasound imaging systems market segmentation by product (2D, 3D, 4D, and 5D) and geography (North America, Europe, Asia, and Rest of World (ROW)). The cardiovascular ultrasound imaging systems market report also offers information on several market vendors, including Boston Scientific Corp., Butterfly Network Inc., Canon Inc., Chison Medical Technologies Co. Ltd., Christie Innomed Inc., CQuence Health Group, Esaote Spa, FUJIFILM Holdings Corp., General Electric Co., Hitachi Ltd., Koninklijke Philips NV, Medis Medical Imaging Systems BV, Samsung Electronics Co. Ltd., Scintica Instrumentation Inc., Sectra AB, Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Siemens AG, Suntrion Wholesale Trading LLC, and Ultromics Ltd. among others.

What will the Cardiovascular Ultrasound Imaging Systems Market Size be During the Forecast Period?

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Cardiovascular Ultrasound Imaging Systems Market: Key Drivers, Trends, and Challenges

The increase in product launches is notably driving the cardiovascular ultrasound imaging systems market growth, although factors such as the high cost of cardiovascular ultrasound imaging systems may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the cardiovascular ultrasound imaging systems industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Cardiovascular Ultrasound Imaging Systems Market Driver

• One of the key factors driving growth in the cardiovascular ultrasound imaging systems market is the increase in product launches.
• Product launches help companies expand their product ranges and penetrate various regions to strengthen their market presence.
• GE Healthcare's ultra-edition package of vivid cardiovascular ultrasound systems, which includes new features based on artificial intelligence (AI) that enable clinicians to acquire faster, more repeatable exams consistently, received the 510k clearance from the US Food and Drug Administration in October 2020.
• In May 2022, FUJIFILM VisualSonics Inc., a global leader in ultra-high frequency ultrasound and photoacoustic imaging systems, announced the launch of Vevo F2, an ultra-high frequency (71MHz) ultrasound and photoacoustic imaging system.
• In April 2022, PerkinElmer, Inc., a global leader committed to innovation for a healthier world, announced the expansion of its in-vivo imaging portfolio with the launch of the Vega Imaging System, a type of ultrasound.
• With an increasing number of product approvals and launches in the market, more vendors are focusing on developing next-generation ultrasound imaging systems for cardiovascular ultrasound imaging.

Key Cardiovascular Ultrasound Imaging Systems Market Trend

• Technological advances in the cardiovascular ultrasound imaging systems market trend that is expected to have a positive impact in the coming years.
• Vendors are coming up with innovative and better technologies to overcome the shortcomings of old cardiovascular ultrasound imaging systems. They are introducing new cardiovascular ultrasound systems that involve less scanning time and provide better image visualization.
• The Philips EPIQ CVx cardiovascular ultrasound system provides fast data processing and sharper imaging features. It utilizes anatomical knowledge, which aids in quantifying the left ventricle function automatically to produce a multi-beat analysis of cardiac output estimation from patients.
• The product helps doctors understand the anatomy of the heart mitral valve of the patient. It further provides guidance to cardiologists for the treatment of structural cardiac disease. Such technological advances are expected to increase during the forecast period.

Key Cardiovascular Ultrasound Imaging Systems Market Challenge

• The high cost of cardiovascular ultrasound imaging systems will be a major challenge for the cardiovascular ultrasound imaging systems market during the forecast period.
• The average cost of 2D, 3D, and 4D cardiovascular ultrasound imaging systems varies between $40,000 and $270,000.
• The adoption of substitutes such as MRI, CT scans, and X-rays can limit the adoption of cardiovascular ultrasound imaging systems. X-rays are less expensive compared with cardiovascular ultrasound imaging systems. Thus, several hospitals and medical centers in developing and underdeveloped countries, which have limited budgets, opt for X-rays instead of 3D or 4D ultrasound systems.
• The average cost of an ultrasound image for a cardiology procedure ranges between $350 and $650.
• The price increases depending on the cardiology procedure, the type of ultrasound imaging system used, and the type of the hospital where it is performed. At the same time, the average cost of a chest X-ray image ranges between $200 and $400. Thus, the high cost of cardiovascular ultrasound imaging systems and the high cost of the ultrasound procedure are expected to limit the growth of the market.

This cardiovascular ultrasound imaging systems market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global infectious disease diagnostics market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the cardiovascular ultrasound imaging systems market during the forecast period.

Who are the Major Cardiovascular Ultrasound Imaging Systems Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Boston Scientific Corp.
• Butterfly Network Inc.
• Canon Inc.
• Chison Medical Technologies Co. Ltd.
• Christie Innomed Inc.
• CQuence Health Group
• Esaote Spa
• FUJIFILM Holdings Corp.
• General Electric Co.
• Hitachi Ltd.
• Koninklijke Philips NV
• Medis Medical Imaging Systems BV
• Samsung Electronics Co. Ltd.
• Scintica Instrumentation Inc. 
• Sectra AB
• Shenzhen Mindray Bio-Medical Electronics Co. Ltd.
• Siemens AG
• Suntrion Wholesale Trading LLC
• Ultromics Ltd.

 

This statistical study of the cardiovascular ultrasound imaging systems market encompasses successful business strategies deployed by the key vendors. The cardiovascular ultrasound imaging systems market is fragmented and the vendors are deploying growth strategies such as M&A to compete in the market.

Product Insights and News

• global.canon - The company offers cardiovascular ultrasound imaging systems namely Aplio.

• global.canon - The office segment offers office MFDs, laser MFPs, laser printers, digital continuous feed presses, digital sheet-fed presses, wide-format printers, and document solutions.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The cardiovascular ultrasound imaging systems market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Cardiovascular Ultrasound Imaging Systems Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the cardiovascular ultrasound imaging systems market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Cardiovascular Ultrasound Imaging Systems Market?

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37% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for cardiovascular ultrasound imaging systems in North America. Market growth in this region will be slower than the growth of the market in the European and Asian regions.

The presence of global vendors in the US will facilitate the cardiovascular ultrasound imaging systems market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, North America was negatively impacted by the outbreak of COVID-19. The growing number of COVID-19 cases led regional governments to impose nationwide lockdowns in 2020. However, the initiation of large-scale COVID-19 vaccination drives and implementation of safety guidelines by governments led to the reopening of manufacturing units for cardiovascular ultrasound imaging systems. Furthermore, the adoption of online platforms for the sales of healthcare products such as cardiovascular ultrasound imaging systems is likely to propel the growth of the regional market for cardiovascular ultrasound imaging systems during the forecast period.

What are the Revenue-generating Product Segments in the Cardiovascular Ultrasound Imaging Systems Market?

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The cardiovascular ultrasound imaging systems market share growth in the 2D, 3D, and 4D segments will be significant during the forecast period. 2D cardiovascular ultrasound systems are widely adopted for the coronary CT angiography procedure. Owing to the low cost of 2D and 3D cardiovascular ultrasound imaging systems, they are widely used in developing and underdeveloped countries. The adoption of 3D and 4D cardiovascular ultrasound imaging systems is increasing, owing to their superior image quality.GE Healthcare, Canon Medical Systems Corp., Siemens Healthineers AG, and Koninklijke Philips N.V are some of the key vendors that provide a wide range of 2D, 3D, and 4D cardiovascular ultrasound imaging systems.

This report provides an accurate prediction of the contribution of all the segments to the growth of the cardiovascular ultrasound imaging systems market size and actionable market insights on post COVID-19 impact on each segment.

 

Cardiovascular Ultrasound Imaging Systems Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 5.44%
Market growth 2022-2026	$ 592.22 million
Market structure	Fragmented
YoY growth (%)	4.29
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 37%
Key consumer countries	US, Canada, Denmark, China, and India
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Boston Scientific Corp., Butterfly Network Inc., Canon Inc., Chison Medical Technologies Co. Ltd., Christie Innomed Inc., CQuence Health Group, Esaote Spa, FUJIFILM Holdings Corp., General Electric Co., Hitachi Ltd., Koninklijke Philips NV, Medis Medical Imaging Systems BV, Samsung Electronics Co. Ltd., Scintica Instrumentation Inc., Sectra AB, Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Siemens AG, Suntrion Wholesale Trading LLC, and Ultromics Ltd.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Cardiovascular Ultrasound Imaging Systems Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive cardiovascular ultrasound imaging systems market growth during the next five years
• Precise estimation of the cardiovascular ultrasound imaging systems market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the cardiovascular ultrasound imaging systems industry across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of cardiovascular ultrasound imaging systems market vendors

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