Cardiovascular Ultrasound Market Expected to Reach $4.2 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Cardiovascular Ultrasound Market," The cardiovascular ultrasound market was valued at $2.4 billion in 2022, and is estimated to reach $4.2 billion by 2032, growing at a CAGR of 5.8% from 2023 to 2032.

Cardiac ultrasound, or echocardiography, is a noninvasive diagnostic modality that can provide detailed hemodynamic information in a short period of time. It uses high-frequency sound waves to create images of the heart. These images allow doctors to visualize the chambers, valves, walls, and blood vessels. Echocardiography is a versatile tool to help identify heart disease. It offers a full range of possible tests, including newer options that can provide 3-D imaging or fit inside the arteries.

The cardiovascular ultrasound market growth is driven by rise in prevalence of cardiovascular diseases, presence of large market players who manufacture cardiovascular ultrasound, and availability of technologically advanced cardiovascular ultrasound.

Cardiac ultrasound, or echocardiography is used in diagnosis of cardiovascular diseases such as atherosclerosis, cardiomyopathy, congenital heart disease, heart failure, aneurysm, and others. Thus, increase in prevalence of cardiac diseases is anticipated to boost the need for cardiac ultrasound. Therefore, this factor is expected to boost the growth of market. For instance, according to the British Heart Foundation, in 2022, it was reported that, around, 1,139,140 people were suffering from heart and circulatory diseases in the UK. As per the same source, in 2022, around 650,681 male and 488,320 female population are suffering from heart and circulatory diseases in the UK.

Moreover, according to American Heart Association, it was estimated that in 2020, 244.1 million people were living with ischemic heart disease (IHD). As per the same source, it was reported that  it was more prevalent in males than in females, 141.0 and 103.1 million people, respectively. In addition, according to report shared by the Center for Disease Control and Prevention (CDC), in 2020, it was reported that coronary heart disease is the most common type of heart disease, killing 382,820 people in the U.S. Moreover, in 2020, about 2 in 10 deaths from coronary artery disease (CAD) happen in adults less than 65 years old. Thus, alarming rise in prevalence of cardiac diseases is expected to propel the need for echocardiography which, in turn, is expected to fuel the growth of cardiovascular ultrasound market.

In addition, increase has been witnessed in the incidence of cardiac diseases due to unhealthy lifestyle, including smoking, poor diet, lack of exercise, and excessive alcohol consumption. This can further increase the risk of developing high blood pressure, high cholesterol, and diabetes, which are all risk factors for heart disease. Moreover, stress and anxiety can lead to an increase in heart rate and blood pressure, which can further increase the risk of developing cardiac diseases. Thus, increase in prevalence of cardiac diseases due to change in lifestyle is expected to boost the demand for echocardiography, which, in turn, contributes toward the growth of the market.

By type, the cardiovascular ultrasound market is classified into transthoracic echocardiogram, transesophageal echocardiogram, stress echocardiogram, and others. Others includes fetal echocardiography and intracardiac echocardiography. The transthoracic echocardiogram segment held the dominant position in 2022, owing to increase in prevalence of cardiovascular diseases and rise in use of transthoracic echocardiogram to assess heart health before or after diagnosis and treatment. However, transesophageal echocardiogram segment is expected to witness fastest CAGR during the forecast period owing to increase in adoption of echocardiography for early diagnosis and treatment of heart disease.

By technology, the cardiovascular ultrasound Market size is categorized into 2D, 3D & 4D, and others. Others includes doppler ultrasound, and strain imaging. The 2D segment held the dominant position in 2022, owing to high adoptability of 2D echocardiography and benefits associated with it such as generation of multiple images of the field or frames every second on the screen, giving an illusion of movement. It is primarily used to measure cardiac chamber dimensions, assess valvular structure and function, and improve the accuracy of interpretation. However, 3D & 4D segment is expected to witness fastest CAGR during the forecast period owing to technological advancement in cardiac ultrasound.

Based on display type, the cardiovascular ultrasound market size is segmented into color and black & white. The color segment held the dominant position in 2022, owing to high adoption of color echocardiogram for clear visualization of image and the same segment is expected to witness fastest CAGR during the forecast period.

By end user, the cardiovascular ultrasound market share is divided into hospital, cardiac centers, and others. Others include diagnostic center and cathaterization lab. The hospital segment held the dominant position in 2022, owing to increase in prevalence of cardiovascular diseases. However, cardiac centers segment is expected to witness fastest CAGR during the forecast period owing to rise in number of diagnostic procedures for cardiac diseases.

Region-wise, North America had the highest cardiovascular ultrasound market Opportunity in 2022 and is expected to maintain its lead during the forecast period owing to presence of large market players and highly developed healthcare infrastructure. However, Asia-Pacific is expected to exhibit fastest growth in cardiovascular ultrasound market forecast owing to increase in prevalence of cardiac diseases and rising geriatric population.

Key Findings of the Study

• By type, the transthoracic echocardiogram segment dominated the cardiovascular ultrasound Market share in 2022.
• By technology, the 2D segment dominated the cardiovascular ultrasound industry in 2022.
• By display type, the color segment dominated the cardiovascular ultrasound industry in 2022.
• By end user, the hospitals segment dominated the cardiovascular ultrasound market analysis in 2022.
• By region, North America dominated the cardiovascular ultrasound market trends in 2022 and is expected to grow during the forecast period.