Echocardiography Market Key Players, Growth Rate Analysis and Projections to 2021 considering Sales, Consumption, Revenue

Echocardiography Market
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Echocardiography market research and analysis focus on rising market drifts to assist businesses find market opportunities and develop effective ways to optimise their market positions. Report contains complete coverage, intensive analysis, and actionable market insights to spot opportunities in existing and potential markets. Report also contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. Report can be used by both established as well as new entrants to live competitive positions in dynamic market situations. Industry experts project Echocardiography market to grow at a CAGR of 4.31% during the period 2017-2021.

An echocardiogram is a type of ultrasound examination, which uses high-pitched sound waves that pass through a device called a transducer. The device receives echoes of the sound waves as they bounce off to different areas of the heart. These echoes are converted into moving pictures of the heart, which can be seen on a video screen. Echocardiography is an important modality for diagnosing heart diseases. Multi-specialty hospitals with good infrastructure facilities and comprising more than 500 beds use over 10,000 cart-based, laptop/dockable, and portable/handheld echocardiography devices to diagnose and monitor patients. The growing technological advancements further help to develop three-dimensional (3D) modality software based on echocardiography systems to provide 3D images of the anatomical function of the heart.

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Echocardiography Market Trend, Challenge and Driver: –

Echocardiography Market trend: – AFI offers a clinical decision support tool for evaluating left ventricular function at rest. When the left ventricular function is visualized but the assessment is questionable, AFI harnesses computerized quantitative assessment to visualize potential wall motion abnormalities. AFI can also be used to differentiate disease from non-disease segments and to understand more about the various strain patterns of specific disease types. AFI also reduces left ventricular function assessment variability and streamlines workflow besides improving laboratory quality assurance. The clinician chooses the views to activate the algorithm. The algorithm differentiates tissue from blood space to enhance accuracy when defining the region of interest. For instance, AFI is available on GE Healthcare’s multiple Vivid products such as Vivid S70, Vivid S60, Vivid E90, Vivid iq Premium, and EchoPAC. Some of the advantages of this method include clear assessment of left ventricular function than the Western medicines (WM) methods (standard echo methods), better quantitative assessment of the contractility function of the heart, and less dependency on operator. It also works up to heart rates of 120 beats/minute. Also, AFI has the potential to lower overall costs. For instance, the Medicare cost (average) of an AFI assessment is 50% lower than SPECT. Therefore, the vendors are increasingly integrating echocardiogram with AFI. Also, there have been increasing studies conducted on AFI, and the research was shown to be useful in cancer patients after treatment with chemotherapy, diabetes, and valve diseases. Some of the other areas of application include the diagnosis of hypertrophic cardiomyopathy and amyloidosis. Thus, the growing use of the AFI technology in echocardiography will lead to a surge in demand for echocardiography devices globally in the coming years

Echocardiography Market Challenge: – the presence of various alternatives is expected to hamper the market growth. Although there is increased demand for echocardiograms for diagnosing various heart-related diseases, the availability of other diagnostic methods hinders the market growth. For instance, a coronary angiogram is a gold standard for the detection of blockage in the heart. This procedure uses contrast dye, which contains iodine, and X-ray pictures to diagnose blockages in the coronary arteries. This procedure is also used to diagnose coronary heart disease and coronary microvascular disease following chest pain, sudden cardiac arrest, or other abnormal results from tests such as an ECG of the heart or an exercise stress test. Generally, coronary angiography is performed with a cardiac catheterization procedure, which is an invasive method. However, end-users in developing economies still prefer the invasive methods such as coronary angiogram owing to its cost-effectiveness. In addition, the availability of traditional diagnostic methods such as chest X-ray, ECG, stress test, CT scan, MRI scan, and myocardial biopsy will hamper the adoption rates of an echocardiogram.

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Echocardiography Market Driver: – The growing technological advancements are expected to fuel the global echocardiography market growth. Vendors are increasingly focusing on developing new advanced echocardiography systems with advanced features for providing better diagnostic images of the heart by using ultrasound waves. For instance, Toshiba Medical Systems is offering Aplio i-series ultrasound system, which is used for cardiac application to diagnose or evaluate the condition of the heart. Aplio i-series uses ultra-high frequency linear transducer parallel signal processing to handle extremely large volumes of data at high speed. Also, vendors are focusing on the development of advanced image-capable echocardiography with the use of an injectable suspension. For instance, in February 2017, Lantheus Medical Imaging received the US FDA approval for DEFINITY (perflutren lipid microsphere), an injectable suspension. DEFINITY is indicated for use in individuals with suboptimal echocardiograms to opacify the left ventricular chamber. In addition, Koninklijke Philips is offering QLAB cardiac analysis ultrasound software to provide better data management and clear imaging. Further, vendors are focusing on the development of Anatomically Intelligent Ultrasound (AIUS) application to detect and quantify the left ventricle and left atrium volumes and ejection fraction with live 3D volume. Koninklijke Philips has developed the HeartModelᴬ AIUS, which offers advanced automated quantification, 3D views, robust reproducibility, and time saving of up to 82% to everyday echocardiography.

Key vendors operating in Echocardiography market space are GE Healthcare, Koninklijke Philips, Siemens Healthcare, Toshiba Medical Systems, ALPINION MEDICAL SYSTEMS and many more. A detailed analysis is provided considering bargaining power of buyers, bargaining power of suppliers, threat of new entrants, threat of substitutes, and threat of rivalry. While each vendor’s analysis considers its business segments, organizational developments, geographic focus, segment focus, and key offerings of vendor.

Geographic Segmentation: – Americas, APAC, EMEA

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Report Coverage:

  • Echocardiography market report provides a comprehensive analysis of the market with the help of up-to-date market opportunities, overview, outlook, challenges, trends, market dynamics, size and growth, competitive analysis, major competitors analysis.
  • Report recognizes the key drivers of growth and challenges of the key industry players. Also, evaluates the future impact of the propellants and limits on the market.
  • Uncovers potential demands in the market.
  • Echocardiography market report provides in-depth analysis of changing competitive dynamics
  • Provides information on the historical and current market size and the future potential of the market.

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