LONDON, Jan. 4, 2017 /PRNewswire/ -- The cardiovascular ultrasound system market is projected to reach USD 1.66 billion by 2021 from USD 1.27 billion in 2016, growing at a CAGR of 5.4% during the forecast period. Increasing incidence of cardiovascular diseases, technological advancements, and advantages of echocardiography over invasive cardiovascular diagnostic procedures will boost the growth of the cardiovascular ultrasound system market. However, insufficient reimbursement scenario and economic impact of adopting new technologies are restraining the growth of the market. In this report, the market is broadly segmented on the basis of test type, technology, device display, end user, and region.
Based on test type, the cardiovascular ultrasound system market is categorized into transthoracic echocardiogram, stress echocardiogram, transesophageal echocardiogram, and fetal & pediatric echocardiogram. The stress echocardiogram segment is expected to account for the largest share of the market in 2016.
This is due to the major advantage of the stress echocardiogram that it can provide data of the cardiac muscles and valves before and after the stress of the heart muscle.
On the basis of end user, the cardiovascular ultrasound system market is categorized into hospitals, home care & ambulatory, and other end users (research institutes, laboratories, and pharmaceutical companies). The hospitals segment is expected to account for the largest share of the market in 2016. The home care & ambulatory segment is estimated to register the highest CAGR during the forecast period due to increase in the usage of echocardiographs at the patient's house itself.
Europe is expected to account for the largest share of the market in 2016. Factors such as growing product commercialization, expansion in clinical applications of high intensity focused ultrasound (HIFU) coupled with their early commercialization in Europe, and growing emphasis on non-invasive procedures by patients and physicians are driving the market growth in this region. The Asia-Pacific region is estimated to be the fastest-growing region in the market during the forecast period as it is an emerging market and provides growth opportunities such as healthcare spending, increase in research and innovation, and medical tourism.
Key players in the cardiovascular ultrasound system market include GE Healthcare (U.S.), Philips Healthcare (The Netherlands), Siemens Healthcare (Germany), Toshiba Medical Systems Corporation (U.S.), and Hitachi Medical Corporation (Japan).
The market study covers the global cardiovascular ultrasound system market, by test type, technology, device display, end user, and region, to estimate the overall market size during 2014 to 2021. This report also covers the drivers, restraints, opportunities and threats of the market along with the competitive landscape of the market players.
Reasons to buy this report:
This research report has focused on various levels of analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth market segments; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on cardiovascular ultrasound products and services offered by the top players in the global cardiovascular ultrasound system market
- Product Development/Innovation: Detailed insights on research & development activities, and new product launches in the cardiovascular ultrasound system market
- Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for cardiovascular ultrasound across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global cardiovascular ultrasound system market
- Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of the leading players in the global cardiovascular ultrasound system market
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