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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

A cardiovascular ultrasound is a type of ultrasound that focuses on your heart and blood vessels. In echocardiogram tests, this type of imaging can be used to assess the function of various parts of your cardiovascular system. An echocardiogram (echo) is a visual representation of the heart's movement. During an echo test, ultrasound (high-frequency sound waves) from a hand-held wand placed on your chest provides images of the heart's valves and chambers and assists the sonographer in evaluating the heart's pumping action. To evaluate blood flow across the heart's valves, echo is frequently combined with Doppler ultrasound and color Doppler.

Global Cardiovascular Ultrasound Market - Impact of the Coronavirus (COVID-19) Pandemic

Coronavirus (COVID-19) outbreak was first reported on December 31, 2019 in Wuhan, China. The World Health Organization declared COVID-19 as a pandemic on March 11, 2020. According to the Coronavirus (COVID-19), weekly epidemiological update by the World Health Organization was over 213 million cases and 4.48 million deaths, as reported on August 25, 2021, across the globe.

Impact of COVID-19 on Demand and Supply of Cardiovascular Ultrasound Treatment

The COVID-19 pandemic and lockdown in various countries across the globe has impacted the financial status of businesses across all sectors including private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry mainly due to strict lockdown in several regions. It has affected the economy of various regions across the globe in three main ways; 1) by directly affecting the production and demand; 2) by creating disruptions in distribution channels; and 3) through its financial impact on companies and financial markets. Several countries such as Thailand, Indonesia, and Singapore are facing problems with regards to transportation and distribution of healthcare products.

It is well known that patients with underlying heart disease or diabetes are at a higher risk of severe illness from COVID-19. As a result, ultrasound of the heart has become an important tool for clinicians when treating and monitoring COVID-19 patients. Thus, impact of the coronavirus is expected to drive the growth of the global cardiovascular ultrasound market over the forecast period. For instance, on May 26, 2020, the U.S. Food and Drug Administration (FDA) granted Philips Healthcare, a leading health technology company, 510(k) clearance to market a wide range of its ultrasound solutions for the management of COVID-19 (SARS-CoV-2) related lung and cardiac complications. Because of their imaging capabilities, portability and ease of disinfection, ultrasound solutions have become a valuable tools for clinicians treating COVID-19 patients.

The global cardiovascular ultrasound market is estimated to be valued at US$ 1.41 Bn in 2021, and is expected to exhibit a CAGR of 6.0 % over the forecast period (2021-2028).

Figure 1: Global Cardiovascular Ultrasound Market Share (%) Analysis, By Test Type, 2021

Cardiovascular Ultrasound  | Coherent Market Insights

The increasing cases of cardiovascular diseases is expected to drive growth of the market over the forecast period

The emerging prevalence of cardiovascular diseases is expected to bolster the growth of global cardiovascular ultrasound market. For instance, according to the World Health Organization’s 2017 report, cardiovascular diseases are the number one cause of death, globally. Around 17.9 million people died due to cardiovascular diseases in 2016, which accounted for around 31% of global deaths. Among these deaths, around 85% of deaths occurred due to heart attack and stroke.

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Cardiovascular Ultrasound Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2021: US$ 1.41 Bn
Historical Data for: 2017 to 2020 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR: 6.0 % 2028 Value Projection: US$ 2.17 Bn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Test Type: Transthoracic Echocardiogram, Transesophageal Echocardiogram, Stress Echocardiogram, Others
  • By Technology: 2D, 3D & 4D, Doppler Imaging
  • By Modality: Portable, Standalone
  • By End User: Hospitals, Ambulatory Care Centers, Others
Companies covered:

GE Healthcare, Koninklijke Philips N.V., Siemens Healthcare GmbH, FUJIFILM Sonosite, Inc., Hitachi Medical Corporation, Samsung Medison Co., Ltd., Shenzhen Mindray Bio-Medical Electronics Co., Ltd., CHISON Medical Technologies Co., Ltd., ESAOTE SPA, and Canon Medical Systems, USA.

Growth Drivers:
  • Increasing cases of cardiovascular diseases
  • Increasing product launches and approvals
  • Advancement of ultrasound technologies

Technology Advancement

The advancement or adoption of new technology for cardiovascular ultrasound is expected to drive growth of the global cardiovascular ultrasound market. For instance, on October 28, 2020, Northwestern Memorial Hospital became the first hospital in the U.S. to purchase Caption Health's artificial intelligence (AI) technology for ultrasound, Caption AI. The AI-guided ultrasound system approved by the U.S. Food and Drug Administration (FDA) allows healthcare providers to acquire and interpret quality ultrasound images of the heart, increasing access to timely and accurate cardiac assessments at the point of care.

Global Cardiovascular Ultrasound Market – Regional Analysis

On the basis of region, the global cardiovascular ultrasound market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

North America is expected to hold dominant position in the global cardiovascular ultrasound market over the forecast period, owing to the approval of products by regulatory authorities. For instance, on September 3, 2020, Fujifilm Sonosite, Inc., specialists in developing cutting-edge point-of-care ultrasound (POCUS) solutions and part of the larger Fujifilm Healthcare portfolio, announced that the company received 510(k) clearance from the U.S. Food & Drug Administration (FDA) for the company's entire POCUS portfolio to support healthcare providers in performing accurate lung and cardiac imaging in COVID-19 patients.

Moreover, due to new product launches and approvals by market players, Europe is expected to witness significant growth in the global cardiovascular ultrasound market over the forecast period. For instance, on October 06, 2021, ReCor Medical, Inc., a wholly owned subsidiary of Otsuka Medical Devices Co., Ltd., announced that its Paradise Ultrasound Renal Denervation System (the "ParadiseTM System") is now available in Germany for the treatment of uncontrolled hypertension. Heart Center Leipzig and Saarland University Hospital in Homburg/Saar were the first to commercialize the procedure.

Figure 2: Global Cardiovascular Ultrasound Market Value (US$ Bn), by Region, 2021

Cardiovascular Ultrasound  | Coherent Market Insights

Global Cardiovascular Ultrasound Market – Competitive Landscape

Major players operating in the global cardiovascular ultrasound market include GE Healthcare, Koninklijke Philips N.V., Siemens Healthcare GmbH, FUJIFILM Sonosite, Inc., Hitachi Medical Corporation, Samsung Medison Co., Ltd., Shenzhen Mindray Bio-Medical Electronics Co., Ltd., CHISON Medical Technologies Co., Ltd., ESAOTE SPA, and Canon Medical Systems USA.

There are different types of heart ultrasound or echocardiogram. The most common type of echo performed is transthoracic echo. This is done by placing an ultrasound probe containing a lubricating gel on the outside of the chest wall to transmit sound waves into the body. Transesophageal Echo is a form of echo that uses a miniature ultrasound camera to pass through the throat and locate the back of the heart. Doppler echocardiography assess the blood flow in the heart and blood vessels. This procedure measures the velocity and direction of blood flow in the heart.

Market Dynamics

Market players are focused on product launches or approvals, which could contribute to the growth of the global cardiovascular ultrasound market over the forecast period. For instance, on October 13, 2020, GE Healthcare, a medical technology company, received USFDA 510k clearance for its Ultra Edition package on Vivid cardiovascular ultrasound systems, which includes new artificial intelligence (AI)-based features that enable clinicians to consistently acquire faster and more repeatable exams.

Market players are involved in expanding their global presence by adopting strategies such as acquisitions and partnerships, which is expected to drive the growth of the global cardiovascular ultrasound market. For instance, on March 02, 2021, Royal Philips, a global leader in health technology, announced a partnership with DiA Imaging Analysis Ltd., a leading provider of AI-powered applications for ultrasound, to deliver automated solutions to clinicians at the point-of-care. Philips’ industry leading ultrasound image quality combined with DiA’s AI library of automated solutions will help in increasing its diagnostic portfolio, operational efficiency, and access to care for Point-of-Care customers in and out of the hospital.

Market players focused on product launches is expected to propel the growth of the global cardiovascular ultrasound market. For instance, on March 17, 2017, Canon's Toshiba Medical subsidiary announced that its Aplio i900 cardiovascular ultrasound system received USFDA 510(k) clearance and has been launched in the U. S. According to the medical subsidiary based in Tustin, California. The Aplio i900 is intended to allow clinicians to assess myocardial function and complex valvular lesions with greater depth and detail than previous versions.

Key features of the study:

  • This report provides an in-depth analysis of global cardiovascular ultrasound market, provides market size (US$ Billion), and compound annual growth rate (CAGR %) for the forecast period (2021-2028), considering 2020 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by the leading players
  • It profiles leading players in the global cardiovascular ultrasound market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study include GE Healthcare, Koninklijke Philips N.V., Siemens Healthcare GmbH, FUJIFILM Sonosite, Inc., Hitachi Medical Corporation, Samsung Medison Co., Ltd., Shenzhen Mindray Bio-Medical Electronics Co., Ltd., CHISON Medical Technologies Co., Ltd., ESAOTE SPA, and Canon Medical Systems USA
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launch, technology up-gradation, market expansion, and marketing tactics
  • The global cardiovascular ultrasound market report caters to various stakeholders in this industry including investors, suppliers, manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision making through various strategy matrices used in analyzing the global cardiovascular ultrasound market

Detailed Segmentation:

  • Global Cardiovascular Ultrasound Market, By Test Type:
    • Transthoracic Echocardiogram
    • Transesophageal Echocardiogram
    • Stress Echocardiogram
    • Others
  • Global Cardiovascular Ultrasound Market, By Technology :
    • 2D
    • 3D & 4D
    • Doppler Imaging
  • Global Cardiovascular Ultrasound Market, By Modality :
    • Portable
    • Standalone
  • Cardiovascular Ultrasound Market, By End User:
    • Hospitals
    • Ambulatory Care Centers
    • Others
  • Global Cardiovascular Ultrasound Market, By Region:
    • North America
      • By Test Type:
        • Transthoracic Echocardiogram
        • Transesophageal Echocardiogram
        • Stress Echocardiogram
        • Others
      • By Technology:
        • 2D
        • 3D & 4D
        • Doppler Imaging
      • By Modality:
        • Portable
        • Standalone
      • By End User:
        • Hospitals
        • Ambulatory Care Centers
        • Others
      • By Country:
        • U.S.
        • Canada
    • Latin America
      • By Test Type:
        • Transthoracic Echocardiogram
        • Transesophageal Echocardiogram
        • Stress Echocardiogram
        • Others
      • By Technology:
        • 2D
        • 3D & 4D
        • Doppler Imaging
      • By Modality:
        • Portable
        • Standalone
      • By End User:
        • Hospitals
        • Ambulatory Care Centers
        • Others
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Test Type:
        • Transthoracic Echocardiogram
        • Transesophageal Echocardiogram
        • Stress Echocardiogram
        • Others
      • By Technology:
        • 2D
        • 3D & 4D
        • Doppler Imaging
      • By Modality:
        • Portable
        • Standalone
      • By End User:
        • Hospitals
        • Ambulatory Care Centers
        • Others
      • By Country:
        • U.K.
        • Germany
        • Italy
        • Spain
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Test Type:
        • Transthoracic Echocardiogram
        • Transesophageal Echocardiogram
        • Stress Echocardiogram
        • Others
      • By Technology:
        • 2D
        • 3D & 4D
        • Doppler Imaging
      • By Modality:
        • Portable
        • Standalone
      • By End User:
        • Hospitals
        • Ambulatory Care Centers
        • Others
      • By Country
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Test Type:
        • Transthoracic Echocardiogram
        • Transesophageal Echocardiogram
        • Stress Echocardiogram
        • Others
      • By Technology:
        • 2D
        • 3D & 4D
        • Doppler Imaging
      • By Modality:
        • Portable
        • Standalone
      • By End User:
        • Hospitals
        • Ambulatory Care Centers
        • Others
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Test Type:
        • Transthoracic Echocardiogram
        • Transesophageal Echocardiogram
        • Stress Echocardiogram
        • Others
      • By Technology:
        • 2D
        • 3D & 4D
        • Doppler Imaging
      • By Modality:
        • Portable
        • Standalone
      • By End User:
        • Hospitals
        • Ambulatory Care Centers
        • Others
      • By Country/Region:
        • South Africa
        • Central Africa
        • North Africa
  • Company Profiles
    • GE Healthcare *
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Recent Developments/Updates
      • Strategies
    • Koninklijke Philips N.V.
    • Siemens Healthcare GmbH
    • FUJIFILM Sonosite, Inc.
    • Hitachi Medical Corporation
    • Samsung Medison Co., Ltd.
    • Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
    • CHISON Medical Technologies Co., Ltd.
    • ESAOTE SPA
    • Canon Medical Systems, USA

 “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Overview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Test Type
      • Market Snippet, By Technology
      • Market Snippet, By Modality
      • Market Snippet, By End User
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Porter’s Analysis
    • Industry Trends
    • Key Highlights
    • Epidemiology
    • Reimbursement Scenario
    • Regulatory Scenario
    • Product Launch and Approvals
    • Acquisition and Collaboration Scenario
  4.  Global Cardiovascular Ultrasound Market - Impact of Coronavirus (Covid-19) Pandemic
    • COVID-19 Epidemiology
    • Impact of COVID-19 on Demand and Supply of Cardiovascular Ultrasound
    • Impact of COVID-19 on the overall Healthcare Sector
  5. Global Cardiovascular Ultrasound Market, By Test Type, 2017 - 2028 (US$ Billion)
    • Introduction
      • Market Share Analysis, 2021 and 2028 (%)
      • Y-o-Y Growth Analysis, 2017- 2028
      • Segment Trends
    • Transthoracic Echocardiogram
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2028, (US$ Billion)
    • Transesophageal Echocardiogram
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2028, (US$ Billion)
    • Stress Echocardiogram
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2028, (US$ Billion)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2028, (US$ Billion)
  6. Global Cardiovascular Ultrasound Market, By Technology, 2017 - 2028 (US$ Billion)
    • Introduction
      • Market Share Analysis, 2021 and 2028 (%)
      • Y-o-Y Growth Analysis, 2017 - 2028
      • Segment Trends
    • 2D
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2028, (US$ Billion)
    • 3D & 4D
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2028, (US$ Billion)
    • Doppler Imaging
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2028, (US$ Billion)
  7. Global Cardiovascular Ultrasound Market, By Modality, 2017 - 2028 (US$ Billion)
    • Introduction
      • Market Share Analysis, 2021 and 2028 (%)
      • Y-o-Y Growth Analysis, 2017 - 2028
      • Segment Trends
    • Portable
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2028, (US$ Billion)
    • Standalone
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2028, (US$ Billion)
  8. Global Cardiovascular Ultrasound Market, By End User, 2017 - 2028 (US$ Billion)
    • Introduction
      • Market Share Analysis, 2021 and 2028 (%)
      • Y-o-Y Growth Analysis, 2017 - 2028
      • Segment Trends
    • Hospitals
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2028, (US$ Billion)
    • Ambulatory Care Centers
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2028, (US$ Billion)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2028, (US$ Billion)
  9. Global Cardiovascular Ultrasound Market, By Region, 2017 - 2028 (US$ Billion)
    • Introduction
      • Market Share Analysis, By Region, 2021 and 2028 (%)
      • Y-o-Y Growth Analysis, For Regions, 2017 - 2028
      • Regional Trends
    • North America
      • Market Size and Forecast, By Test Type,2017 - 2028 (US$ Bn)
      • Market Size and Forecast, By Technology, 2017 - 2028 (US$ Bn)
      • Market Size and Forecast, By Modality, 2017 - 2028 (US$ Bn)
      • Market Size and Forecast, By End User, 2017 - 2028 (US$ Bn)
      • Market Size and Forecast, By Country, 2017 - 2028 (US$ Bn)
        • U.S.
        • Canada
    • Latin America
      • Market Size and Forecast, By Test Type,2017 - 2028 (US$ Bn)
      • Market Size and Forecast, By Technology, 2017 - 2028 (US$ Bn)
      • Market Size and Forecast, By Modality, 2017 - 2028 (US$ Bn)
      • Market Size and Forecast, By End User, 2017 - 2028 (US$ Bn)
      • Market Size and Forecast, By Country, 2017 - 2028 (US$ Bn)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • Market Size and Forecast, By Test Type,2017 - 2028 (US$ Bn)
      • Market Size and Forecast, By Technology, 2017 - 2028 (US$ Bn)
      • Market Size and Forecast, By Modality, 2017 - 2028 (US$ Bn)
      • Market Size and Forecast, By End User, 2017 - 2028 (US$ Bn)
      • Market Size and Forecast, By Country, 2017 - 2028 (US$ Bn)
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast, By Test Type,2017 - 2028 (US$ Bn)
      • Market Size and Forecast, By Technology, 2017 - 2028 (US$ Bn)
      • Market Size and Forecast, By Modality, 2017 - 2028 (US$ Bn)
      • Market Size and Forecast, By End User, 2017 - 2028 (US$ Bn)
      • Market Size and Forecast, By Country, 2017 - 2028 (US$ Bn)
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • Market Size and Forecast, By Test Type,2017 - 2028 (US$ Bn)
      • Market Size and Forecast, By Technology, 2017 - 2028 (US$ Bn)
      • Market Size and Forecast, By Modality, 2017 - 2028 (US$ Bn)
      • Market Size and Forecast, By End User, 2017 - 2028 (US$ Bn)
      • Market Size and Forecast, By Country, 2017 - 2028 (US$ Bn)
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • Market Size and Forecast, By Test Type,2017 - 2028 (US$ Bn)
      • Market Size and Forecast, By Technology, 2017 - 2028 (US$ Bn)
      • Market Size and Forecast, By Modality, 2017 - 2028 (US$ Bn)
      • Market Size and Forecast, By End User, 2017 - 2028 (US$ Bn)
      • Market Size and Forecast, By Country/Region, 2017 - 2028 (US$ Bn)
        • South Africa
        • Central Africa
        • North Africa
  10. Competitive Landscape
    • Company Profiles
      • GE Healthcare *
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Strategies
      • Koninklijke Philips N.V.
      • Siemens Healthcare GmbH
      • FUJIFILM Sonosite, Inc.
      • Hitachi Medical Corporation
      • Samsung Medison Co., Ltd.
      • Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
      • CHISON Medical Technologies Co., Ltd.
      • ESAOTE SPA
      • Canon Medical Systems, USA

*Key pointers provided are also applicable to other companies covered in the scope of the report.

    • Analyst Views
  1. Section
    • Research Methodology
    • About us
    • Contact

*Browse 35 market data tables and 25 figures on “Cardiovascular Ultrasound Market” - Global Forecast to 2028.

FAQgrowicon

Frequently Asked Questions

The global cardiovascular ultrasound market is expected to exhibit a CAGR of 6.0 % during the forecast period (2021-2028).
The market is estimated to be valued at US$ 1.41 Bn in 2021.
GE Healthcare, Koninklijke Philips N.V., Siemens Healthcare GmbH, FUJIFILM Sonosite, Inc., Hitachi Medical Corporation, Samsung Medison Co., Ltd., Shenzhen Mindray Bio-Medical Electronics Co., Ltd., CHISON Medical Technologies Co., Ltd., ESAOTE SPA, and Canon Medical Systems USA are some of the prominent players operating in the market.
The market is expected to be valued at US$ 2.17 Bn in 2028.
North America is the prominent region in the market.
Increasing cases of cardiovascular diseases, research and development activities, and advancement of technologies by the market players are some of the driving factors expected to drive growth of the market.
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