The global structural heart imaging market is expected to reach USD 25.3 billion by 2025, according to a new report by Grand View Research, Inc. Global increase in incidence of Structural Heart Diseases (SHDs), growing awareness about diseases, and technological advancements in imaging modalities are anticipated to drive the market during the forecast period.
Furthermore, clearer high-quality images are necessary for management of patients suffering from SHDs. Hence, availability of technologically advanced devices and increase in their adoption are likely to boost the market in the coming years. Echocardiogram, Magnetic Resonance Imaging (MRI) and CT are the most widely used modalities for SHI.
Echocardiogram accounted for the maximum share in the SHI market in 2016 and is estimated to maintain its dominance during the forecast period. This can be attributed to the adoption of echo test as a first-line imaging technique, low cost as compared to CT & MRI, and its superiority in visualization of intracardiac structures.
MRI segment is expected to witness the fastest growth in the coming years due to technological advancements, as well as the ability of MRI to provide accurate & reproducible quantification of ventricular function and image the entire body.
Globally, the SHI market is expected to exhibit a CAGR of almost 10% from 2017 to 2025, which can be attributed to increase in investment by players for advancements in imaging of structural heart diseases, as well as increase in number of patients suffering from SHD.
By modality, echocardiogram segment dominated the market in 2016 and is estimated to account for more than 50.0% of market share by 2025. This can be attributed to its superiority in visualization of intracardiac structures
MRI segment is likely to drive the market at the fastest rate in the coming years due to technological advancements in MRI devices. Furthermore, this modality does not use ionizing radiation, making it more suitable than CT for diagnosis of children & pregnant women
Geographically, in 2016,North America accounted the largest share and is expected to maintain its dominance during forecast period due to availability of technologically advanced devices, high healthcare expenditure, and favorable reimbursement policies for imaging
Asia Pacific is likely to witness lucrative growth in the coming years owing to growing investments by players in the region and increase in well-equipped & sophisticated hospitals. These factors are expected to result in rise in demand for advanced procedures for structural heart diseases
Some of the key players operating in the SHI market are Toshiba Corporation; Siemens Healthineers; Koninklijke Philips N.V.; Shimadzu Corporation; Pie Medical Imaging; Circle Cardiovascular Imaging, Inc.; TomTec Imaging Systems GmbH; CardioComm Solutions, Inc.; and HeartSciences.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Contact: Sherry James Corporate Sales Specialist, USA Grand View Research, Inc. Phone: +1-415-349-0058 Toll Free: 1-888-202-9519 Email: [email protected]