Market Research Future (MRFR)’s assessment unfolds that the Global Cardiovascular Ultrasound Market trends is set to expand at 6.30% CAGR during the projection period 2020 to 2030. The study further estimates that the valuation of the market is poised to reach USD 1.72 Bn by 2023 up from USD 1.45 Bn in 2016.
The increasing patient population of cardiovascular diseases owing to changing lifestyle is fueling demand for cardiovascular ultrasound on the global front. Rising prevalence of obesity and diabetes are expected to catalyze the number of patients suffering from cardiovascular diseases. This, in turn, is expected to catapult the cardiovascular ultrasound market trends on upward trajectory over the next few years. However, the high cost of the device is projected to restrict the growth of the cardiovascular ultrasound market in the underdeveloped nation over the forecast period.
Market Segmentation:
The various types of Cardiovascular Ultrasound assessed in this MRFR report are stress, trans esophageal, transthoracic, echocardiograms, and abdominal vasculature ultrasound imaging.
On the basis of imaging technology, the segments of the global cardiovascular ultrasound market trends include 3 D, 2 D, and Color Doppler.
The end-user segments of the cardiovascular ultrasound market covered in the MRFR report are diagnostic centers, hospitals and clinics, and others.
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Regional Analysis:
The geographical assessment of the Global Cardiovascular Ultrasound Market is included in this report. The regional segments of the market spans across four regions - Americas, Asia Pacific, the Middle East, and Africa (MEA) and Europe. North America has a large patient pool of dysmenorrhea owing to the large-scale prevalence of cardiovascular diseases. This is expected to drive the proliferation of the regional segment in the forthcoming years. North America is poised to maintain its firm standing at the dominant position in the global cardiovascular ultrasound market trends over the next couple of years. Early adoption of next-gen technologies in the healthcare sector of the region is anticipated to propel revenue growth in the years to come.
Europe is also poised to expand at a moderate rate over the assessment period. Increasing healthcare expenditure in the region is forecasted to support the expansion of cardiovascular ultrasound market in the forthcoming years. Asia Pacific is assessed to exhibit the highest growth rate through the review period. Led by China, the diabetic population in the region is drastically increasing. People having diabetes are more prone to developing cardiovascular diseases, which is likely to influence the growth trajectory of the cardiovascular ultrasound market greatly in the region. India is also expected to witness a rise in patient population, which is prognosticated to accelerate revenue creation for market players. The country-level market is projected to dominate the expansion of the cardiovascular ultrasound market in the region across the evaluation period. However, the Middle East & Africa is anticipated to exhibit a steady growth rate over the next few years.
Competitive Dashboard:
- GE Healthcare (U.S.)
- Siemens Healthcare (Germany)
- Philips Healthcare (The Netherlands)
- Hitachi Toshiba Medical Systems Corporation (Japan)
- Medical Corporation (Japan)
are some of the key players who are anticipated to play a major role in the development of the Global Cardiovascular Ultrasound Market.
The key players are expected to capitalize on the growing demand in the years to come and earn massive revenues. An influx of new entrants is also poised to be observed with the boom witnessed in the startup culture. The rapid developments in the healthcare sector are likely to make the landscape of the cardiovascular ultrasound market trends highly lucrative in the years to come. Technological innovations are being introduced by the market participants to gain an edge over competitors. This, in turn, is poised to boost the competition among the players, and also expedite market expansion over the assessment period. Other strategies expected to be devised by the participants for growth are mergers & acquisitions, product portfolio development, collaborations, research &development, partnerships, etc.
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