PUBLISHER: Grand View Research | PRODUCT CODE: 1553563
PUBLISHER: Grand View Research | PRODUCT CODE: 1553563
The global cardiovascular ultrasound market size is expected to reach USD 3.52 billion by 2030 and expand at a CAGR of 5.41% from 2024 to 2030, according to a new report by Grand View Research, Inc. The primary factor driving cardiovascular ultrasounds is that new imaging technologies have improved the accuracy and resolution of images obtained from echocardiography machines. This makes it easier for clinicians to identify and diagnose diseases. Additionally, it provides non-invasive diagnostic options, which are often preferred over invasive procedures.
Benefits associated with cardiovascular ultrasound over conventional methods include quick recovery, reduced span of hospitalization, and fewer post-operative complications. These benefits along with the rising geriatric population are expected to propel the demand for cardiovascular ultrasound diagnosis over the forecast period.
North America captured the largest market share in 2022. A favorable reimbursement framework and the presence of a large number of industry players are some of the major factors which can be attributed to regional growth. The rising geriatric population coupled with sophisticated healthcare infrastructure is expected to further fuel market growth in the region. Furthermore, increasing health awareness is driving demand.
COVID-19 has had a significant impact on CVUS. One of the most noticeable effects of the pandemic has been the delays in elective procedures, including those related to CVUS. As a result, which reduces the demand for imaging equipment and services. However, the pandemic has also led to an increase in telemedicine adoption, which includes the use of remote monitoring devices and virtual consultations. This led to increased use of portable devices and an expansion of the market.