Pediatric Ultrasound Market to Generate Huge Revenue in Near Future

The pediatric ultrasound market size for cardiology is estimated to grow to $332 million by 2022, from 2015 market value of $252 million, growing at a CAGR of 4% during 2016 to 2022. Pediatric ultrasound for cardiology, also known as echocardiograph, is done for attaining a complete view of congenital and acquired heart diseases in children. Echocardiographic evaluation gives detailed information of numerous lesions present in the pediatric heart. Ultrasound waves or sound waves are used to develop different images of heart, and a Doppler test is done to measure the speed and direction of blood flow.

These two tests are combined and used by the pediatric cardiologist or pediatric sonographer to learn aspects regarding the functioning of the heart and its anatomy. Echocardiography is the most common test used in children to diagnose or rule out heart disease, and also to follow children who have already been diagnosed with a heart problem. This test can be performed on children of all ages, including fetuses and newborns to adolescents. The global pediatric ultrasound market for cardiology is a growing industry, mainly due to the large number of technological advancements (such as 3D & 4D imaging) in ultrasound systems, increased prevalence and incidence rate of cardiac diseases in children, and rise in awareness for early disease diagnosis. Conversely, dearth of skilled and experienced sonographers worldwide is a major factor restraining the pediatric ultrasound market growth.

The global pediatric ultrasound market for cardiology is segmented based on age group and region. Based on geography, pediatric ultrasound market for cardiology is studied with respect to four major regions, namely, North America (including U.S., Canada, and Mexico), Europe (including Germany, France, U.K. and Rest of Europe), Asia-Pacific (including Japan, China, India, and Rest of Asia-Pacific), and LAMEA (including Latin America, Middle East, and Africa). The report includes revenue generated from the sales of the aforementioned ultrasound devices. This study excludes revenue generated from post-sale services of the devices (after the expiration of contracts).

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Segment Review:

Echocardiography is the most common test utilized to diagnose cardiac diseases, and also to follow children diagnosed with cardiac problem. Among all age groups, the adolescents (1319 years) group is the major segment, and is expected to exhibit the highest CAGR during the forecast period. This growth is mainly due to inactive lifestyle and obesity that leads to different acquired heart diseases in adolescents, which results into high use of echocardiogram.

Geographical Market Snapshot:

Geographically, Asia-Pacific region generated maximum revenue in 2015, and is also estimated to be the fastest growing region during the forecast period. The pediatric ultrasound market growth in this region is supplemented by the rise in healthcare reforms, high prevalence of pediatric cardiac diseases, and presence of high unmet needs, especially in countries, such as India and China. Moreover, Europe is expected to be the second largest region. The pediatric ultrasound market has gained its maturity in this region due to the wide adoption of ultrasound devices for pediatric cardiology; however, introduction of technologically advanced devices has enhanced the pediatric ultrasound market share in recent times.

Industry Participants from Demand Side

Experts Perspective:

In accordance to several interviews conducted, the utilization of ultrasound devices for cardiology in pediatrics is expected to witness a significant rise with increase in the diagnosis of congenital and acquired heart diseases. The global ultrasound market for pediatric cardiology has piqued the interest of healthcare providers. This interest is because of several benefits offered by these devices. The benefits include the diagnosis and treatment of clinical disorders related to heart, coupled with the evolving indications for pediatric cardiology. There have been remarkable technological advancements in cardiac ultrasound devices, to provide advanced treatment options for patients with heart disease.

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Rising incidents of chronic heart diseases in children, technological advancements, and increase in the emphasis on early prevention are some of the major factors that drive the pediatric ultrasound market trends. However, dearth of experienced sonographers and technological limitations of ultrasound to scan obese patients will hamper the pediatric ultrasound market growth. According to the experts, approximately one out of every four newborns undergoes an ultrasound examination for the confirmation of proper functioning of heart. In adolescents, abnormal heart rhythms, infectious endocarditis are frequently seen. The cause is mainly an inactive lifestyle, bad food habits, and stress. In addition, emerging markets have high unmet needs hence manufacturers and distributors are gaining more importance in these nations. A rapid growth was observed in the shipments of these devices to provide improved healthcare services in emerging nations. This is expected to offset the challenging conditions in mature markets, such as North America and Europe.

The key players profiled in this report are General Electric Company, Koninklijke Philips N.V., Siemens AG, Samsung Medison Co. Ltd., Analogic Corporation, Esaote SpA, Fujifilm Corporation, Hitachi, Ltd., Mindray Medical International Limited, Samsung Medison Co. Ltd., and Toshiba Corporation.

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