The global cardiovascular ultrasound market is expected to grow in the coming years due to an increasing prevalence of cardiovascular diseases, technological advancements in ultrasound systems, and rising demand for non-invasive diagnostic procedures. The growing aging population and unhealthy lifestyle habits are also driving the market growth. However, the high cost of ultrasound systems and a lack of skilled healthcare professionals to operate them may hinder market growth. North America and Europe dominate the market due to high healthcare expenditure and favorable reimbursement policies. Asia-Pacific is also a growing market due to the rising healthcare infrastructure and increasing adoption of advanced medical technologies.
The global Cardiovascular Ultrasound Market is estimated to be valued at US$ 1,541.75 million in 2022 and expected to reach US$ 2,362.24 million by 2030, witnessing a CAGR of 5.5% over the forecast period (2022-2030).
Key Companies in the Cardiovascular Ultrasound Industry:
1. GE Healthcare (General Electric Company)
GE Healthcare (General Electric Company) was founded in 1994 and is headquartered in Chicago, Illinois, USA. The company operates in over 160 countries worldwide, providing medical technologies and services including diagnostic imaging, medical diagnostics, and patient monitoring systems. In March 2021, GE Healthcare announced the launch of the new AI-enabled ultrasound system, the LOGIQ E10 Series.
2. Koninklijke Philips N.V.
Koninklijke Philips N.V., commonly known as Philips, was founded in 1891 and is headquartered in Amsterdam, Netherlands. The company operates in over 100 countries worldwide, providing a wide range of healthcare technologies and solutions including diagnostic imaging, patient monitoring, and healthcare informatics. In February 2021, Koninklijke Philips N.V. announced the launch of the new EPIQ CVx cardiology ultrasound system, which offers advanced image quality and real-time guidance for interventional procedures.
3. FUJIFILM Holdings Corporation
FUJIFILM Holdings Corporation was founded in 1934 and is headquartered in Tokyo, Japan. The company operates in over 80 countries worldwide, offering a broad range of medical technologies and services including diagnostic imaging, medical informatics, and healthcare IT solutions. In January 2021, FUJIFILM Holdings Corporation announced the launch of the new Synapse Cardiology PACS system, which offers advanced image management and workflow efficiency for cardiovascular ultrasound.
4. Siemens Healthcare GmbH
Siemens Healthcare GmbH, a subsidiary of Siemens AG, was founded in 1847 and is headquartered in Erlangen, Germany. The company operates in over 70 countries worldwide, providing medical technologies and solutions including diagnostic imaging, laboratory diagnostics, and healthcare IT. In December 2020, Siemens Healthcare GmbH announced the launch of the new ACUSON Redwood ultrasound system, which offers advanced cardiovascular imaging capabilities and AI-powered automation.
5. Samsung Medison Co., Ltd.
Samsung Medison Co., Ltd., a subsidiary of Samsung Electronics, was founded in 1985 and is headquartered in Seoul, South Korea. The company operates in over 100 countries worldwide, providing medical technologies and solutions including diagnostic ultrasound, healthcare IT, and radiology. In November 2020, Samsung Medison Co., Ltd. announced the launch of the new RS85A premium ultrasound system, which offers advanced cardiovascular imaging features and enhanced diagnostic accuracy.
6. Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
Shenzhen Mindray Bio-Medical Electronics Co., Ltd. was founded in 1991 and is headquartered in Shenzhen, China. The company operates in over 190 countries worldwide, providing a wide range of medical technologies and solutions including patient monitoring, in-vitro diagnostic products, and ultrasound systems. In October 2020, Shenzhen Mindray Bio-Medical Electronics Co., Ltd. announced the launch of the new DC-80 ultrasound system, which offers advanced cardiovascular imaging capabilities and improved workflow efficiency.
7. ESAOTE SPA
ESAOTE SPA was founded in 1979 and is headquartered in Genoa, Italy. The company operates in over 80 countries worldwide, providing medical technologies and solutions including diagnostic imaging, ultrasound systems, and veterinary diagnostic systems. In September 2020, ESAOTE SPA announced the launch of the new MyLab X8 ultrasound system, which offers advanced cardiovascular imaging and diagnosis features.
8. Canon Medical Systems
Canon Medical Systems, USA, a subsidiary of Canon Inc., was founded in 1997 and is headquartered in Tustin, California, USA. The company operates in over 100 countries worldwide, providing a wide range of medical technologies and solutions including diagnostic imaging, ultrasound systems, and healthcare IT. In August 2020, Canon Medical Systems, USA announced the launch of the new Aplio i900 ultrasound system, which offers advanced cardiovascular imaging capabilities and enhanced diagnostic accuracy.
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*Definition- Cardiovascular ultrasound, also known as echocardiography, is a non-invasive diagnostic imaging technique that uses high-frequency sound waves to produce real-time images of the heart, valves, and blood vessels. It helps in the evaluation of heart structure, function, and blood flow to detect and diagnose various cardiovascular diseases.
