Cardiac Ultrasound Systems Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

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Cardiac Ultrasound Systems Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

Status : September, 2021 | Medical Devices

Report Digest

Global Cardiac Ultrasound Systems Market: Overview 

Across the world, rising prevalence of cardiovascular diseases coupled with rising adoption of preventive medicine are fuelling the cardiac ultrasound systems market. 

Technological advancements in ultrasound imaging is another key factor boosting the cardiac ultrasound systems market. Such advancements help improve image quality and enable diagnosis of disease at an early stage. Cardiovascular ultrasound is used to detect abnormalities in functioning of the heart. 

The report provides a brilliant assessment of the global cardiac ultrasound systems market with a strong focus on market dynamics, geographical distribution, and competitive analysis. The report uses an array of graphs, tables, and pictorial representations to depict growth trends observed in the past. Growth rate projections and revenue share projections of key segments are some key features of the report that markets stakeholders can leverage to formulate winning growth strategies. 

Global Cardiac Ultrasound Systems Market: Key Trends 

At present, healthcare agencies and governments in emerging economies are raising awareness for preventive medicine. Rising incidence of chronic diseases is leading to immense economic burden. State-driven healthcare in emerging economies lacks funds and experts to extend healthcare services to the large underserved population. NGOs and non-profit organizations with the support of the government are reaching out to the population that have a risk of cardiovascular diseases. This is stoking demand for cardiac ultrasound devices. 

In developed countries, favorable healthcare reimbursement policies, wherein set programs are in place, is another key factor boosting the cardiac ultrasound system market. For example, in the U.S., the Hospital Outpatient Prospective Payment Services (HOPPS) pay technique is used to decide the amount of reimbursement that will be granted on a case by case for cardiac ultrasounds. The Centers for Medicare Aid and Services (CMS) designed HOPPS for various outpatient procedures. 

Global Cardiac Ultrasound Systems Market: Market Potential 

Like every year, the Radiological Society of North America (RSNA) meeting this year unveiled latest advancements in cardiovascular imaging. Among many, the fetalHQ heart and vascular software from GE Healthcare to detect fetal ultrasound is a breakthrough. The software helps to evaluate fetal heart shape, size, and contractibility in a meagre 3 minutes. The software serves to carry out detailed fetal cardiac assessments that were earlier difficult to perform due to small size and extremely fast heart rate of the fetus. 

Apart from this, the Radiant Flow feature of the software enables 3-D view of blood flow. The software also allows to show slow flow of blood, such as in neurovascular circulation. 

Global Cardiac Ultrasound Systems Market: Geographical Analysis 

The global cardiac ultrasound systems market could be spread across five geographic regions, namely North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Among them, North America holds key share in the global cardiac ultrasound market. This is mainly due to substantial awareness for benefits of preventive medicine and an ultra-modern healthcare infrastructure. 

However, Asia Pacific is likely to hold key share of the overall market in the future. Increasing modernization of healthcare infrastructure and rising incidence of lifestyle diseases such as cardiovascular is boosting the uptake of cardiac ultrasound devices. 

Global Cardiac Ultrasound Systems Market: Competitive Analysis 

Some key players operating in the global cardiac ultrasound systems market are Philips, Hitachi, Siemens Healthcare, GE Healthcare Inc., Fujifilm Medical Systems, and Canon Medical Systems Corporation. 

Expansion of product portfolio and foray into regional markets are key growth strategies adopted by leading companies in the cardiac ultrasound market. The July 2017 partnership of GE Healthcare and Heartflow for technological advancements of cardiac equipment is a case in point.

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5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?