An ultrasound system creates images known as Sonograms. Sonogram emit high frequency sound waves, which passes through the body and create images that can be seen on a screen..The global cardiovascular ultrasound system market is expected to rise at a CAGR of 6% during the forecast period 2016-2023. Owing to technological advancement, increasing prevalence of cardiovascular diseases and advantage of echocardiography over invasive cardiac diagnostic procedures.
The key factor driving the growth of global cardiovascular ultrasound system market is the increasing healthcare expenditure. The increase in healthcare expenditure across the globe has led to raised adoption of cardiovascular ultrasound system. Thus, increasing healthcare spending by people would give increase to adoption of ultrasound treatment. Owing to increasing disposable income around the world households are eager to spend more for medically advanced and proficient treatments. According to institute of health metrics and evaluation, global spending on health is expected to reach to $ 18.28 trillion worldwide by 2040. Furthermore, spent on health is expected to increase to 9% of GDP globally by 2040.According to organization for economic cooperation and development (OECD), in United States the healthcare expenditure has observed a high growth of 3.8% from 2012 to 2015. Besides in Asia Pacific healthcare expenditure is increasing. According to the India brand Equity foundation (IBEF) in 2013, India healthcare expenditure was $96.3 billion which is expected to increase by 12% around $195.7 billion by 2018.Moreover, in India health care sector is increasing faster owing to rising investment by public and private player as well as adoption of new medical technologies. For instance, according to ministry of health department of India, in 2016, development of 50 medical technologies was aimed. Healthcare market is expected to rise at a CAGR of 16.5% during the forecast period.Moreover, as per organisation of economic coporation and development, in 2012 healthcare expenditure in per capital at Japan was $4017 which is increased to $4150 in 2015. However, insufficient reimbursement scenario and economic influence of adopting new technologies restraining the growth of cardiovascular ultrasound system market.
Source: OBRC Analysis.
The report on global cardiovascular ultrasound system market includes test type, technology, device display and end user.
Based on test type, report further segmented as:
- Transthoracic Echocardiogram
- Transesophageal Echocardiogram
- Stress Echocardiogram
- Other Echocardiograms
On the basis of technology, report is further segmented as:
- 2D Ultrasound
- 3D & 4D ultrasound
- Doppler Imaging
Global cardiovascular ultrasound system market segmented on the basis of device display:
- Colordisplay
- Black & White display
End user of cardiovascular ultrasound system market include:
- Hospital and cardiology centers
- Home and ambulatory care settings
- Others end users
Global cardiovascular ultrasound system market report covers segmentation analysis of test type, technology, device display and end user. Report further covers segments of test type which includes transthoracic echocardiogram, transesophageal echocardiogram, stress echocardiogram and other echocardiograms. The stress echocardiogramis the leading test type segment in 2016. This is owing to the major advantages such as ready availability, incremental value, low capital cost. Moreover, stress echocardiogram provide data of cardiac muscle and valves before as well as after the stress of the heart and muscle. Report further covers segments of technology which includes 2D Ultrasound, 3D & 4D ultrasound and doppler imaging. The device display of cardiovascular ultrasound system market includes Color display and Black & White Display. Whereas the end users of cardiovascular ultrasound system market include hospital and cardiology centres, home and ambulatory care settings and others end users. The home and ambulatory care settings segment is expected to grow at fastest rate during the forecast period owing to growing the usage of echocardiographs at the patient’s house.
The global cardiovascular ultrasound system market report has been geographically segmented in:
- North America (U.S. & Canada)
- Asia Pacific (China, India, Japan, RoAPAC)
- Europe (UK, France, Germany, RoE)
- Rest of World
Geographically, Europe is the largest market region for global cardiovascular ultrasound system market in terms of market revenue share in 2015. The key factors driving the market growth in Europe region is increasing cardiovascular disease. According to European heart network in Europe, each year cardiovascular disease causes around 3.9 million deaths in Europe. Moreover, in 2015 there were around 11.3 million new cases of cardiovascular disease and 6.1 million new cases of cardiovascular disease in European Union. Furthermore, every year more than around 85 million people suffer from cardiovascular disease. The main cause of death in Europe was CVD and approximately 45% people died out of all deaths in 2015.However, Asia Pacific is expected to emerge as the fastest growing market region during the forecast period 2016-2023 owing to increasing healthcare expenditure and medical tourism.
The major market players of the global cardiovascular ultrasound system market are:
- PHILIPS HEALTHCARE (THE NETHERLANDS)
- SIEMENS HEALTHCARE (GERMANY)
- HITACHI MEDICAL CORPORATION (JAPAN)
- TOSHIBA MEDICAL SYSTEMS CORPORATION (JAPAN)
- MINDRAY MEDICAL INTERNATIONAL LIMITED (CHINA)
- OTHERS
These companies are using various strategies such as merger & acquisition, collaboration, partnership and product launch. Whereas, product and service launch are the key strategy adopted by the companies in the cardiovascular ultrasound system market.
For Example;
In 2015, Philips Healthcare had announced to launch a Lumify app based on ultrasound solution that is designed for emergency department as well as urgent care center and clinical setting.
In Nov 2016, Toshiba Medical System Corporation has launched the premium Aplio™ i-series ultrasound platform. The Aplio™ i-series powerful performance helps to raise diagnostic accuracy and offers cost effective and safer solution than other radiation emitting modalities.
The report covers detailed analysis of companies which comprises overview, SCOT analysis, product portfolio, strategic initiative, strategic analysis, competitive landscape and market share analysis in cardiovascular ultrasound system market.
Key reason to buy the report:
- The report includes market estimation, forecast and analysis for the year 2016-2023
- Report includes detailed analysis of different segments such as test type, technology, device display and end user of cardiovascular ultrasound system market.
- Identify and understand the strength, opportunities, challenges and threat of the cardiovascular ultrasound market.
- Covers details analysis of Porters 5 force model and other strategic models and also covers revenues, market share analysis, and competitive landscape analysis of major players of voice communication segment market.
- Detailed analysis of various the regulatory policies which are affecting the global cardiovascular ultrasound market.
How we are different from others:
At Occam’s we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on global cardiovascular ultrasound market offers detailed analysis of strategic models such as investment vs. adoption model, see saw analysis and others strategic models. Also, the report contains the detailed analysis of application, adoption scenario and decision support for each segment. The report discusses competitive landscape of the cardiovascular ultrasound system market, with giving extensive SCOT analysis of key companies.
Key findings of the global cardiovascular ultrasound market:
- The global cardiovascular ultrasound system market is expected to rise at a CAGR of 6% during the forecast period 2016-2023.
- The key factor driving the growth of global cardiovascular ultrasound system market is the increasing prevalence of cardiovascular diseases.
- The home and ambulatory care settings segment is expected to grow at fastest rate during the forecast period 2016-2023.
- Asia Pacific is expected to emerge as the fastest growing market region during the forecast period 2016-2023.