Global Echocardiography Market Report 2023: Sector is Expected to Reach USD 20.16 Billion by 2028 at a CAGR of 47.06%

Market Overview:
The Echocardiography Market Was Valued At USD 1.36 Billion In 2021 And Is Projected To Reach USD 20.16 Billion By 2028, Growing At A CAGR Of 47.06% From 2022 To 2028.

One of the body's essential organs, the heart is crucial in pumping oxygen-rich blood to all of the body's organs. The four chambers of the heart are divided into two upper atria and two lower ventricles. An unhealthy way of life, bad eating habits, inactivity, smoking, being overweight, and alcohol use have all contributed to an increase in the number of people suffering from cardiac problems. The non-invasive ultrasound process of echocardiography is used to examine the heart's functionality. An echocardiogram uses high-frequency sound waves (ultrasound) to give an image of the heart's chambers and valves and to assist the doctor in assessing the heart's ability to pump blood.

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Market Dynamics:
Driver:
In recent years, artificial intelligence (AI) has expanded exponentially, with deep learning presently offering significant prospects. An article in the journal Echocardiography claims that automation and AI are revolutionizing the field of echocardiography by giving doctors supplementary tools to enhance patient care. Software providers and manufacturers are working together to integrate AI into echocardiography. Echocardiography has been impacted by AI at every stage, from picture capture to autonomous measurement and interpretation. The observer's degree of expertise can occasionally impair echocardiography, but AI can get beyond this obstacle and produce repeatable measurements, enabling precise diagnosis.

Opportunities:
As a result of technological improvement, echocardiogram gadgets now perform more effectively and with more confidence. Echocardiogram services have seen a significant transformation as a result of AI technology. The human mistakes that arise during the process can be removed by AI. Point-of-care ultrasound (POCUS) technology is another emerging trend. POCUS is a useful technology that may improve patient care and safety, give more precise information, and decrease the cost of advanced imaging. It also improves doctor-patient interactions, which raises patient satisfaction.

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Segmentation Analysis of Echocardiography Market:
Depending on test type, the transthoracic echocardiogram segment is forecasted to have the highest share of the market. Transthoracic echocardiogram is the most common type of echocardiogram and it utilizes a transducer that sends and receives sound waves that bounce back from the heart. Due to its low cost, mobility, broad availability, absence of ionizing radiation, and capacity to examine both anatomy and function of the heart, it is frequently used as a first-line imaging technique in the evaluation of cardiac disease.

Depending on the technology, 3D & The 4D segment is anticipated to dominate the market in the projected period. 3D & 4D echocardiography devices provide real-time, high-quality images of the heart which helps surgeons to choose the appropriate treatment. This technology can be used to monitor heart conditions in patients having CVDs such as cardiomyopathy, pericardial disease, and heart failure.

Depending on end-users, the hospital segment is expected to lead the echocardiography market throughout the analysis. Hospitals offer personalized care and are well equipped with advanced devices utilized for echocardiography. Hospitals offer insurance benefits for several procedures including echocardiography.

By Test Type
• Transthoracic Echocardiogram
• Transesophageal Echocardiogram
• Stress Echocardiogram
• Others
By Technology
• 2D
• 3D & 4D
• Doppler Imaging
• Others
By End-Users
• Hospitals
• Diagnostic Centers
• Ambulatory Care Centers
• Others

Regional Analysis of Echocardiography Market:
The North American region is anticipated to dominate the echocardiography market in the forecast period attributed to government spending on healthcare expenditure. The United States government spent US$ 4.1 trillion on healthcare in 2020. It accounted for US$ 12,530 per person and a total of 19.7% of the total GDP. Moreover, the rate of CVDs prognosis in this region has increased in recent times. In the United States, about 659,000 people die from heart-related disorders, that's 1 in every 4 deaths.

• North America
o US
o Canada
o Mexico

• Eastern Europe
o Bulgaria
o The Czech Republic
o Hungary
o Poland
o Romania
o Rest of Eastern Europe

• Western Europe
o Germany
o UK
o France
o Netherlands
o Italy
o Russia
o Spain
o Rest of Western Europe

• Asia Pacific
o China
o India
o Japan
o South Korea
o Malaysia
o Thailand
o Vietnam
o The Philippines
o Australia
o New Zealand
o Rest of APAC

• Middle East & Africa
o Turkey
o Bahrain
o Kuwait
o Saudi Arabia
o Qatar
o UAE
o Israel
o South Africa

• South America
o Brazil
o Argentina
o Rest of SA

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Players Covered in Echocardiography Market are:
• General Electric Company (US)
• Shenzhen Mindray Bio-Medical Electronics Co. Ltd. (China)
• ContextVision AB (Sweden)
• Koninklijke Philips N.V. (Netherlands)
• Canon Medical Systems Corporation (Japan)
• Esaote S.p.A (Italy)
• Hitachi Medical Corporation (US)
• Bay Labs Inc. (US)
• Fujifilm Holdings Corporation (Japan)
• Bracco Imaging S.p.A (Italy)
• Samsung Electronics Co. Ltd. (South Korea)
• Digirad Corporation (US)
• Siemens Healthcare Private Limited (Germany)
• Telemed Ultrasound (Italy) and other major players.

Recent Industry Developments In Echocardiography Market
• In December 2021, Philips launched an innovative echocardiography solution, that brings together AI-driven automated measurements, remote access, and new transducer technology. The new AI-enhanced Auto Measure application decreases the echo quantification time, and improves the patient and staff experience.
• In June 2021, Siemens Healthineers announced that it has received a CE Mark for the AcuNav Volume ICE (Intracardiac Echocardiography) catheter. This new catheter is a therapy-enabling imaging guide that enables real-time, wide-angle visualization of heart anatomy during Structural Heart and Electrophysiology procedures. AcuNav Volume ICE is the first Volume ICE catheter on the market, built on a 20-year history of ICE invention.

Table of Content:
Chapter 1: Introduction
 1.1 Research Objectives
 1.2 Research Methodology
 1.3 Research Process
 1.4 Scope and Coverage
  1.4.1 Market Definition
  1.4.2 Key Questions Answered
 1.5 Market Segmentation
Chapter 2:Executive Summary

Chapter 3:Growth Opportunities By Segment
 3.1 By Test Type
 3.2 By Technology
 3.3 By End-Users

Chapter 4: Market Landscape
 4.1 Porter's Five Forces Analysis
  4.1.1 Bargaining Power of Supplier
  4.1.2 Threat of New Entrants
  4.1.3 Threat of Substitutes
  4.1.4 Competitive Rivalry
  4.1.5 Bargaining Power Among Buyers
 4.2 Industry Value Chain Analysis
 4.3 Market Dynamics
  4.3.1 Drivers
  4.3.2 Restraints
  4.3.3 Opportunities
  4.5.4 Challenges
 4.4 Pestle Analysis
 4.5 Technological Roadmap
 4.6 Regulatory Landscape
 4.7 SWOT Analysis
 4.8 Price Trend Analysis
 4.9 Patent Analysis
 4.10 Analysis of the Impact of Covid-19
  4.10.1 Impact on the Overall Market
  4.10.2 Impact on the Supply Chain
  4.10.3 Impact on the Key Manufacturers
  4.10.4 Impact on the Pricing

Chapter 5: Echocardiography Market by Test Type
 5.1 Echocardiography Market Overview Snapshot and Growth Engine
 5.2 Echocardiography Market Overview
 5.3 Transthoracic Echocardiogram
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size (2016-2028F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Transthoracic Echocardiogram: Grographic Segmentation
 5.4 Transesophageal Echocardiogram
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size (2016-2028F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Transesophageal Echocardiogram: Grographic Segmentation
 5.5 Stress Echocardiogram
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size (2016-2028F)
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4 Stress Echocardiogram: Grographic Segmentation
 5.6 Others
  5.6.1 Introduction and Market Overview
  5.6.2 Historic and Forecasted Market Size (2016-2028F)
  5.6.3 Key Market Trends, Growth Factors and Opportunities
  5.6.4 Others: Grographic Segmentation

Chapter 6: Echocardiography Market by Technology
To Be Continued……
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