Overview and Scope
Echocardiography is a non-invasive medical imaging technique that uses high-frequency sound waves, known as ultrasound, to create detailed images of the heart’s structure, size, and function. It is commonly used by healthcare professionals, particularly cardiologists, to assess the health and functioning of the heart.
Sizing and Forecast
The echocardiography market size has grown strongly in recent years. It will grow from $1.65 billion in 2023 to $1.78 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to environmental awareness, government incentives, rising fuel costs, urbanization trends..
The echocardiography market size is expected to see strong growth in the next few years. It will grow to $2.33 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to infrastructure development, regulatory policies, consumer awareness and acceptance, battery technology advancements, economic factors.. Major trends in the forecast period include development of high-speed electric trains, adoption of swappable battery technology, introduction of electric boats and watercraft, implementation of dynamic wireless charging, development of electric autonomous vehicles..
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Segmentation & Regional Insights
The echocardiography market covered in this report is segmented –
1) By Test Type: Transthoracic Echocardiography, Transesophageal Echocardiography, Stress Echocardiography, Other Test Types
2) By Technology: 2D, 3D And 4D, Doppler Imaging
3) By End-User: Hospitals, Diagnostic Centers, Clinics, Other End-Users
North America was the largest region in the echocardiography market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the echocardiography market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising incidence of cardiovascular illnesses is expected to propel the growth of the echocardiography market going forward. Cardiovascular illnesses, also known as cardiovascular diseases (CVDs), refer to a group of disorders that affect the heart and blood vessels. Echocardiography is a critical diagnostic tool in the assessment and management of cardiovascular illnesses which uses ultrasound technology to create detailed images of the heart’s structure, chambers, valves, and blood flow patterns. For instance, in May 2023, according to the Centers for Disease Control and Prevention (CDC), a US-based government agency, about 805,000 people in the United States have a heart attack every year. Over 695,000 people in the United States died from heart disease in 2021, accounting for 1 out of every 5 deaths. In the United States, 1 person dies from cardiovascular disease every 33 seconds. Therefore, the rising incidence of cardiovascular illnesses is driving the growth of the echocardiography market.
Key Industry Players
Major companies operating in the echocardiography market report are Samsung Electronics Co. Ltd., General Electric Company, Ecare Medical Technology, Siemens Healthcare GmbH, Fujifilm Holdings Corporation, Koninklijke Philips N.V., Boston Scientific Corporation, Shenzhen Mindray Bio-Medical Electronics Co. Ltd., St. Jude Medical Inc., Carestream Health, Bracco S.p.A., Toshiba Medical Systems, Canon Medical Systems Corporation, Esaote SpA, Biosense Webster Inc., BMV Technology Co. Ltd., Hitachi Medical Corporation, MIDAS Software Solutions PTY Ltd., Digirad Corporation, ContextVision AB, CHISON Medical Technologies Co. Ltd., Xuzhou Kaixin Electronic Instrument Co. Ltd., Alpinion Medical Deutschland GmbH, Promed Technology Co. Ltd., Caption Health Inc., Shenzhen Ricso Technology Co. Ltd., MediMatic Private Limited, Sonostar Technologies Co. Ltd., Jaken Medical Inc., DiA Imaging Analysis Ltd.
The echocardiography market report table of contents includes:
1. Executive Summary
2. Echocardiography Market Characteristics
3. Echocardiography Market Trends And Strategies
4. Echocardiography Market – Macro Economic Scenario
5. Global Echocardiography Market Size and Growth
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31. Echocardiography Market Other Major And Innovative Companies
32. Global Echocardiography Market Competitive Benchmarking
33. Global Echocardiography Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Echocardiography Market
35. Echocardiography Market Future Outlook and Potential Analysis
36.Appendix
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