Cardiovascular Ultrasound Market To Reach $3.52 Billion By 2030

Cardiovascular Ultrasound Market Growth & Trends

The global cardiovascular ultrasound market size is expected to reach USD 3.52 billion by 2030 and expand at a CAGR of 5.41% from 2024 to 2030, according to a new report by Grand View Research, Inc. The primary factor driving cardiovascular ultrasounds is that new imaging technologies have improved the accuracy and resolution of images obtained from echocardiography machines. This makes it easier for clinicians to identify and diagnose diseases. Additionally, it provides non-invasive diagnostic options, which are often preferred over invasive procedures.

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 2022. A favorable reimbursement framework and the 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.

COVID-19 has had a significant impact on CVUS. One of the most noticeable effects of the pandemic has been the delays in elective procedures, including those related to CVUS. As a result, which reduces the demand for imaging equipment and services. However, the pandemic has also led to an increase in telemedicine adoption, which includes the use of remote monitoring devices and virtual consultations. This led to increased use of portable devices and an expansion of the market.

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Cardiovascular Ultrasound Market Report Highlights

• The transthoracic echocardiography (TTE) segment dominated the market by capturing a share of 55.4% in 2023.

• The doppler segment dominated the market by capturing a 42.6% share in 2023 and is further expected to grow at the fastest CAGR over the forecast period. This is primarily attributed to its advanced capabilities in providing detailed blood flow and velocity measurements.

• The color segment dominated the market by capturing a share of 84.0% in 2023 and is expected to grow at the fastest rate over the forecast period. This is primarily attributed to its superior ability to visualize and assess blood flow dynamics within the heart and vascular system.

• The hospital segment dominated the market with a share of over 45.9% in 2023. This dominance is attributed to several factors, including the increasing number of outpatient department (OPD) visits and hospital admissions.

• North America cardiovascular ultrasound market held the largest share of 29.0% in 2023. This can be attributed to the presence of a robust healthcare infrastructure that facilitates the widespread adoption of advanced medical technologies, including cardiovascular ultrasound.

• The cardiovascular ultrasound market in Asia Pacific is estimated to witness the fastest CAGR of 5.82% during the forecast period, primarily due to the rapid expansion of healthcare infrastructure and increasing investments in advanced medical technologies across the region.

Cardiovascular Ultrasound Market Segmentation

Grand View Research has segmented global cardiovascular ultrasound market report on the basis of type, technology, display, end-use, and region:

Cardiovascular Ultrasound Type Outlook (Revenue, USD Million, 2018 - 2030)

• Transthoracic echocardiography

• Transesophageal echocardiography

• Fetal echocardiography

• Others

Cardiovascular Ultrasound Technology Outlook (Revenue, USD Million, 2018 - 2030)

• 2D

• 3D/4D

• Doppler

Cardiovascular Ultrasound Display Outlook (Revenue, USD Million, 2018 - 2030)

• B/W

• Color

Cardiovascular Ultrasound End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospital

• Diagnostic centers

• Ambulatory care centers

• Others

Cardiovascular Ultrasound Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • Thailand

  • South Korea

• Latin America

  • Brazil

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players of Cardiovascular Ultrasound Market

• Koninklijke Philips N.V.

• GE Healthcare

• Siemens Healthineers AG

• Canon Medical Systems

• Mindray Medical International Limited

• Samsung Medison Co., Ltd.

• FUJIFILM SonoSite, Inc.,

• Konica Minolta Inc.

• Esaote

• Trivitron Healthcare