The Business Research Company’s report on the Amusement Parks Global Market Report 2025 Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
Which emerging drivers are set to accelerate the growth of the echocardiography market further?
The rising incidence of cardiovascular illnesses is expected to propel the growth of the echocardiography market going forward. Cardiovascular illnesses, also known as cardiovascular diseases (CVDs), refer to a group of disorders that affect the heart and blood vessels. Echocardiography is a critical diagnostic tool in the assessment and management of cardiovascular illnesses which uses ultrasound technology to create detailed images of the heart’s structure, chambers, valves, and blood flow patterns. For instance, in May 2023, according to the Centers for Disease Control and Prevention (CDC), a US-based government agency, about 805,000 people in the United States have a heart attack every year. Over 695,000 people in the United States died from heart disease in 2021, accounting for 1 out of every 5 deaths. In the United States, 1 person dies from cardiovascular disease every 33 seconds. Therefore, the rising incidence of cardiovascular illnesses is driving the growth of the echocardiography market.
Echocardiography Market Driver: The Surge In Healthcare Spending Fuels Growth Of The Echocardiography Market
The increase in healthcare spending is expected to propel the growth of the echocardiography market going forward. Healthcare spending refers to the total amount of financial resources allocated to the healthcare sector within a specific region, country, or organization. Increased healthcare spending can allow healthcare systems to invest in training for qualified echocardiography technicians and cardiologists, leading to higher standards of care, improved diagnosis accuracy, and better patient experiences. For instance, in May 2023, according to a report published by the Office for National Statistics, a UK-based government department, between 2022 and 2023, healthcare spending in the UK increased by 5.6% compared with growth of 0.9% in 2022. The UK healthcare expenditure in UK healthcare expenditure was around $317.63 billion (£292 billion) in 2023. Therefore, an increase in healthcare spending is driving the growth of the echocardiography market.
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What are the key factors influencing the forecasted market size of the echocardiography industry?
The echocardiography market size has grown strongly in recent years. It will grow from $1.78 billion in 2024 to $1.93 billion in 2025 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to environmental awareness, government incentives, rising fuel costs, urbanization trends.
The echocardiography market size is expected to see strong growth in the next few years. It will grow to $2.47 billion in 2029 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to infrastructure development, regulatory policies, consumer awareness and acceptance, battery technology advancements, economic factors. Major trends in the forecast period include development of high-speed electric trains, adoption of swappable battery technology, introduction of electric boats and watercraft, implementation of dynamic wireless charging, development of electric autonomous vehicles.
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Who are the leading competitors in the echocardiography market?
Major companies operating in the echocardiography market report are Samsung Electronics Co. Ltd., General Electric Company, Ecare Medical Technology, Siemens Healthcare GmbH, Fujifilm Holdings Corporation, Koninklijke Philips N.V., Boston Scientific Corporation, Shenzhen Mindray Bio-Medical Electronics Co. Ltd., St. Jude Medical Inc., Carestream Health, Bracco S.p.A., Toshiba Medical Systems, Canon Medical Systems Corporation, Esaote SpA, Biosense Webster Inc., BMV Technology Co. Ltd., Hitachi Medical Corporation, MIDAS Software Solutions PTY Ltd., Digirad Corporation, ContextVision AB, CHISON Medical Technologies Co. Ltd., Xuzhou Kaixin Electronic Instrument Co. Ltd., Alpinion Medical Deutschland GmbH, Promed Technology Co. Ltd., Caption Health Inc., Shenzhen Ricso Technology Co. Ltd., MediMatic Private Limited, Sonostar Technologies Co. Ltd., Jaken Medical Inc., DiA Imaging Analysis Ltd.
Which emerging trends are set to transform the echocardiography market landscape?
Major companies operating in the echocardiography market are developing technologies, such as VeriSight Pro, to gain a competitive edge in the market. VeriSight Pro reduces the need for general anesthesia accelerates workflows, increases efficiency, and broadens treatment options. For instance, In May 2024, Royal Philips, a multinational corporation based in the Netherlands, launched the Philips VeriSight Pro 3D ICE Catheter, marking the beginning of its international rollout. This advanced catheter is designed to enhance cardiac imaging procedures, providing detailed three-dimensional insights to improve patient outcomes during interventional cardiology procedures. e VeriSight Pro utilizes innovative technology that allows for real-time visualization of cardiac structures, facilitating more accurate assessments and interventions. This launch aligns with Philips’ commitment to advancing healthcare technology and improving patient care through enhanced imaging capabilities.
How do different geographies compare in terms of market share and growth potential in the echocardiography market?
North America was the largest region in the echocardiography market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the echocardiography market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Which major segments of the echocardiography market are experiencing the fastest growth?
The echocardiography market covered in this report is segmented –
1) By Test Type: Transthoracic Echocardiography, Transesophageal Echocardiography, Stress Echocardiography, Other Test Types
2) By Technology: 2D, 3D And 4D, Doppler Imaging
3) By End-User: Hospitals, Diagnostic Centers, Clinics, Other End-Users
Subsegments:
1) By Transthoracic Echocardiography: Standard Transthoracic Echocardiogram, 3D Or 4D Transthoracic Echocardiogram
2) By Transesophageal Echocardiography: Invasive Transesophageal Echocardiogram, Transesophageal Echo For Surgical Guidance
3) By Stress Echocardiography: Exercise Stress Echocardiography, Pharmacological Stress Echocardiography
4) By Other Test Types: Doppler Echocardiography, Contrast Echocardiography
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How is the echocardiography market defined?
Echocardiography is a non-invasive medical imaging technique that uses high-frequency sound waves, known as ultrasound, to create detailed images of the heart’s structure, size, and function. It is commonly used by healthcare professionals, particularly cardiologists, to assess the health and functioning of the heart.
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