Global Cardiovascular Ultrasound System Market Size

Cardiovascular Ultrasound System Market Analysis

The Global Cardiovascular Ultrasound System Market size is estimated at USD 1.44 billion in 2024, and is expected to reach USD 1.89 billion by 2029, growing at a CAGR of 5.41% during the forecast period (2024-2029).

COVID-19 had an unimaginable impact on the world and altered almost every aspect of the healthcare industry. The pandemic also had a complex and unprecedented effect on the ultrasound market. Healthcare providers deployed the potential of ultrasound diagnosis, primarily for point-of-care (POC) applications, for the triage, monitoring, and diagnosis of COVID-19 patients. As per the study published in March 2021, titled 'Application of Point-of-care Cardiac Ultrasonography in COVID-19 Infection: Lessons Learned from the Early Experience', since there is a high prevalence of acute cardiac injury in patients with COVID-19 infection, point-of-care cardiac ultrasound (PoCCUS) may be used for longitudinal monitoring of patients infected with COVID-19. Such studies demonstrating the application of cardiovascular ultrasound systems in COVID-19 patients are expected to positively support the growth of the market.

The major factors supporting the growth of the cardiovascular ultrasound system market include the increasing incidence of cardiovascular diseases (CVDs), technological advancements, and the advantages of echocardiography over invasive cardiac diagnostic procedures.

According to the June 2021 update of the World Health Organization (WHO), cardiovascular diseases are the leading cause of death around the world, and about three-quarters of deaths from CVDs are recorded in low- and middle-income countries and thus, due to the high mortality due to the CVDs, the demand for disease diagnostics and monitoring is increasing which is expected to fuel growth in the cardiovascular ultrasound system market. Further, according to the 2022 American Heart Association (AHA) report, approximately 244.1 million people were living with ischemic heart disease (IHD) around the world, and North Africa and the Middle East, Central and South Asia, and Eastern Europe had the highest prevalence rates of IHD in the world in 2020. This burden of cardiovascular diseases is further expected to increase due to the high prevalence of associated risk factors such as hypertension, obesity, smoking, diabetes, and others, along with the sedentary lifestyle; thus, the use of ultrasound in disease diagnostics, monitoring, and treatment is expected to increase which will drive growth in the cardiovascular ultrasound system market over the forecast period.

Technological advancements such as artificial intelligence have a significant positive impact on cardiology with improved ability to diagnose certain heart conditions. For instance, in October 2020, GE Healthcare received the United States Food and Drug Administration clearance for its ultra edition package of vivid cardiovascular ultrasound systems, which includes new features based on artificial intelligence (AI) that enable clinicians to acquire faster, more repeatable exams consistently.

However, unfavorable reimbursement scenarios and the economic impact of adopting new technologies are likely to impede the studied market growth over the forecast period.