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(Medical-NewsWire.com, July 18, 2017 ) The report "Cardiovascular Ultrasound System Market by Test Type (Transesophageal, Stress, Transthoracic, Fetal), Technology (2D, 3D & 4D, Doppler Imaging), Device Display (Black & White, Color), End User (Hospitals, Home Care, Ambulatory) - Forecast to 2021” 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 (2016–2021).
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Increasing incidence of cardiovascular diseases, technological advancements, and advantages of echocardiography over invasive cardiac diagnostic procedures are the major drivers for the Cardiovascular Ultrasound System Market. However, insufficient reimbursement scenario and economic impact of adopting new technologies are restraining the growth of the market.
The Cardiovascular Ultrasound System Market is broadly segmented into test type, technology, device display, end user, and region. Based on test type, the market is categorized into transthoracic echocardiogram, stress echocardiogram, transesophageal echocardiogram, and fetal & intracardiac 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 technology, the Cardiovascular Ultrasound System Market is segmented into 2D, 3D & 4D, and Doppler imaging. The 2D technology is estimated to account for the largest share of the market in 2016, whereas the 3D & 4D technology segment is estimated to grow at the highest CAGR during the forecast period.
On the basis of device display, the market is segmented into color display and black & white (B/W) display. The color display segment is expected to register the highest growth in 2016.
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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 HIFU coupled with their early commercialization in Europe, and growing emphasis on non-invasive procedures by patients and physicians are driving the growth of this market.
The Asia-Pacific region is estimated to be the fastest-growing region in the Cardiovascular Ultrasound System 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), Hitachi Medical Corporation (Japan), and Toshiba Medical Systems Corporation (Japan).
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