Cardiovascular Ultrasound Market to Reach $4,171.12 million by 2032 | Hitachi, Samsung Healthcare, Koninklijke Philips N.V, Whale Imaging, GE Healthcare

According to the report, the global cardiovascular ultrasound market was valued for $2,369.27 million in 2022, and is projected to reach $4,171.12 million by 2032, registering a CAGR of 5.8% from 2023 to 2032.

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Cardiovascular ultrasound, commonly known as echocardiography, has transformed the way we diagnose and monitor heart disease. This non-invasive imaging technique uses high-frequency sound waves to create real-time images of the heart, allowing physicians to visualize its structure, assess its function, and detect abnormalities - all without the need for surgery or radiation.

Rise in prevalence of chronic cardiovascular diseases such as coronary artery disease, cardiac arrythmias, and others is anticipated to boost the growth of market. However, high cost of echocardiography is anticipated to hinder the growth of market. On the contrary, technological advancement in the healthcare sector is expected to witness growth during the forecast period.

The Future of Cardiovascular Imaging:

With the integration of artificial intelligence and machine learning, the future of cardiovascular ultrasound is even more promising. Automated measurements, improved diagnostic accuracy, and enhanced image interpretation are making ultrasound more efficient and user-friendly.

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The hospitals segment to maintain its leadership status throughout the forecast period.

Based on end user, the hospitals segment held the highest market share in 2022, accounting for more than half of the global cardiovascular ultrasound market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to rise in prevalence of cardiovascular diseases. However, the cardiac centers segment is projected to manifest a significant CAGR of 6.4% from 2023 to 2032.

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North America to maintain its dominance by 2032.

Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global cardiovascular ultrasound market revenue. This is attributed to high presence of cardiovascular ultrasound drug manufacturers in North America and rising prevalence of chronic disease such as cancer and chronic pain. However, the Asia-Pacific region is expected to witness the fastest CAGR of 6.6% from 2023 to 2032 and is likely to dominate the market during the forecast period, owing to rising number of geriatric populations, as geriatric population is more susceptible to cardiovascular diseases and increase in awareness among the people regarding cardiovascular ultrasound.

Leading Market Players: -

Canon Medical Systems Corporation
Esaote SpA
GE Healthcare
Koninklijke Philips
Siemens Healthineers
Hitachi
Samsung Healthcare
Whale Imaging
FujiFilm
Mindray

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