This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
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.
The anticipated growth in the echocardiography market is expected to be driven by the increasing prevalence of cardiovascular illnesses. Cardiovascular illnesses, or cardiovascular diseases (CVDs), encompass a range of disorders affecting the heart and blood vessels. Echocardiography, utilizing ultrasound technology, plays a crucial role in diagnosing and managing these conditions by creating detailed images of the heart's structure, chambers, valves, and blood flow patterns. For instance, data from the Centers for Disease Control and Prevention (CDC) in May 2023 revealed that approximately 805,000 people in the United States experience a heart attack annually. Heart disease accounted for over 695,000 deaths in the United States in 2021, representing 1 out of every 5 deaths, with one person succumbing to cardiovascular disease every 33 seconds. Consequently, the increasing incidence of cardiovascular illnesses is a key driver propelling the echocardiography market's growth.
The rise in healthcare spending is anticipated to drive the growth of the echocardiography market in the future. Healthcare spending refers to the total financial resources allocated to the healthcare sector within a specific region, country, or organization. Increased healthcare expenditures enable healthcare systems to invest in training qualified echocardiography technicians and cardiologists, resulting in higher standards of care, improved diagnostic accuracy, and enhanced patient experiences. For instance, in May 2023, a report from the Office for National Statistics, a UK-based government department, indicated that healthcare spending in the UK grew by 5.6% from 2022 to 2023, compared to a growth of 0.9% in 2022. The UK’s healthcare expenditure was approximately $317.63 billion (£292 billion) in 2023. Consequently, the increase in healthcare spending is fueling the growth of the echocardiography market.
Leading companies in the echocardiography market are focusing on developing advanced technologies like VeriSight Pro to gain a competitive advantage. VeriSight Pro minimizes the need for general anesthesia, accelerates workflows, enhances efficiency, and expands treatment options. For example, in May 2024, Royal Philips, a multinational corporation based in the Netherlands, launched the Philips VeriSight Pro 3D ICE Catheter as part of its international rollout. This cutting-edge catheter is designed to improve cardiac imaging procedures by providing detailed three-dimensional insights that enhance patient outcomes during interventional cardiology procedures. The VeriSight Pro employs innovative technology for real-time visualization of cardiac structures, facilitating more accurate assessments and interventions. This launch underscores Philips' commitment to advancing healthcare technology and enhancing patient care through improved imaging capabilities.
In February 2023, GE Healthcare Technologies Inc., a US-based multinational medical technology company, acquired Caption Health for an undisclosed sum. This acquisition is part of GE Healthcare's strategy to enhance its capabilities in AI-driven diagnostics and improve patient care through advanced imaging solutions. The decision aligns with the increasing trend in healthcare to integrate AI for enhancing diagnostic accuracy and streamlining workflows. By incorporating Caption Health's technology, GE aims to further strengthen its portfolio of ultrasound products and services. Caption Health is a US-based medical technology manufacturing company.
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.
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. The countries covered in the echocardiography market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The echocardiography market consists of revenues earned by entities by providing specialized assessments, preoperative assessments, and cardiac stress testing services. The market value includes the value of related goods sold by the service provider or included within the service offering. The echocardiography market also includes sales of transducers, ultrasound devices, contrast agents, catheters, echocardiography workstations, and stress echocardiography systems that are used in providing echocardiography services. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Echocardiography, a non-invasive medical imaging method, utilizes high-frequency sound waves, or ultrasound, to generate detailed images depicting the structure, size, and function of the heart. Widely employed by healthcare professionals, particularly cardiologists, this technique aids in evaluating the heart's health and performance.
The primary categories of echocardiography tests include transthoracic echocardiography, transesophageal echocardiography, stress echocardiography, and others. Transthoracic echocardiography (TTE) is a medical imaging approach utilizing ultrasound to create comprehensive images of the heart and its adjacent structures. The technologies involved encompass 2D, 3D, and 4D imaging, as well as Doppler imaging, catering to various end users such as hospitals, diagnostic centers, clinics, and others.
The echocardiography market research report is one of a series of new reports that provides echocardiography market statistics, including echocardiography industry global market size, regional shares, competitors with echocardiography market share, detailed echocardiography market segments, market trends, and opportunities, and any further data you may need to thrive in the echocardiography industry. This echocardiography market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
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.
The anticipated growth in the echocardiography market is expected to be driven by the increasing prevalence of cardiovascular illnesses. Cardiovascular illnesses, or cardiovascular diseases (CVDs), encompass a range of disorders affecting the heart and blood vessels. Echocardiography, utilizing ultrasound technology, plays a crucial role in diagnosing and managing these conditions by creating detailed images of the heart's structure, chambers, valves, and blood flow patterns. For instance, data from the Centers for Disease Control and Prevention (CDC) in May 2023 revealed that approximately 805,000 people in the United States experience a heart attack annually. Heart disease accounted for over 695,000 deaths in the United States in 2021, representing 1 out of every 5 deaths, with one person succumbing to cardiovascular disease every 33 seconds. Consequently, the increasing incidence of cardiovascular illnesses is a key driver propelling the echocardiography market's growth.
The rise in healthcare spending is anticipated to drive the growth of the echocardiography market in the future. Healthcare spending refers to the total financial resources allocated to the healthcare sector within a specific region, country, or organization. Increased healthcare expenditures enable healthcare systems to invest in training qualified echocardiography technicians and cardiologists, resulting in higher standards of care, improved diagnostic accuracy, and enhanced patient experiences. For instance, in May 2023, a report from the Office for National Statistics, a UK-based government department, indicated that healthcare spending in the UK grew by 5.6% from 2022 to 2023, compared to a growth of 0.9% in 2022. The UK’s healthcare expenditure was approximately $317.63 billion (£292 billion) in 2023. Consequently, the increase in healthcare spending is fueling the growth of the echocardiography market.
Leading companies in the echocardiography market are focusing on developing advanced technologies like VeriSight Pro to gain a competitive advantage. VeriSight Pro minimizes the need for general anesthesia, accelerates workflows, enhances efficiency, and expands treatment options. For example, in May 2024, Royal Philips, a multinational corporation based in the Netherlands, launched the Philips VeriSight Pro 3D ICE Catheter as part of its international rollout. This cutting-edge catheter is designed to improve cardiac imaging procedures by providing detailed three-dimensional insights that enhance patient outcomes during interventional cardiology procedures. The VeriSight Pro employs innovative technology for real-time visualization of cardiac structures, facilitating more accurate assessments and interventions. This launch underscores Philips' commitment to advancing healthcare technology and enhancing patient care through improved imaging capabilities.
In February 2023, GE Healthcare Technologies Inc., a US-based multinational medical technology company, acquired Caption Health for an undisclosed sum. This acquisition is part of GE Healthcare's strategy to enhance its capabilities in AI-driven diagnostics and improve patient care through advanced imaging solutions. The decision aligns with the increasing trend in healthcare to integrate AI for enhancing diagnostic accuracy and streamlining workflows. By incorporating Caption Health's technology, GE aims to further strengthen its portfolio of ultrasound products and services. Caption Health is a US-based medical technology manufacturing company.
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.
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. The countries covered in the echocardiography market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The echocardiography market consists of revenues earned by entities by providing specialized assessments, preoperative assessments, and cardiac stress testing services. The market value includes the value of related goods sold by the service provider or included within the service offering. The echocardiography market also includes sales of transducers, ultrasound devices, contrast agents, catheters, echocardiography workstations, and stress echocardiography systems that are used in providing echocardiography services. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Echocardiography, a non-invasive medical imaging method, utilizes high-frequency sound waves, or ultrasound, to generate detailed images depicting the structure, size, and function of the heart. Widely employed by healthcare professionals, particularly cardiologists, this technique aids in evaluating the heart's health and performance.
The primary categories of echocardiography tests include transthoracic echocardiography, transesophageal echocardiography, stress echocardiography, and others. Transthoracic echocardiography (TTE) is a medical imaging approach utilizing ultrasound to create comprehensive images of the heart and its adjacent structures. The technologies involved encompass 2D, 3D, and 4D imaging, as well as Doppler imaging, catering to various end users such as hospitals, diagnostic centers, clinics, and others.
The echocardiography market research report is one of a series of new reports that provides echocardiography market statistics, including echocardiography industry global market size, regional shares, competitors with echocardiography market share, detailed echocardiography market segments, market trends, and opportunities, and any further data you may need to thrive in the echocardiography industry. This echocardiography market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Echocardiography Market Characteristics3. Echocardiography Market Trends and Strategies4. Echocardiography Market - Macro Economic Scenario Including the Impact of Interest Rates, Inflation, Geopolitics, Covid and Recovery on the Market32. Global Echocardiography Market Competitive Benchmarking and Dashboard33. Key Mergers and Acquisitions in the Echocardiography Market34. Recent Developments in the Echocardiography Market
5. Global Echocardiography Growth Analysis and Strategic Analysis Framework
6. Echocardiography Market Segmentation
7. Echocardiography Market Regional and Country Analysis
8. Asia-Pacific Echocardiography Market
9. China Echocardiography Market
10. India Echocardiography Market
11. Japan Echocardiography Market
12. Australia Echocardiography Market
13. Indonesia Echocardiography Market
14. South Korea Echocardiography Market
15. Western Europe Echocardiography Market
16. UK Echocardiography Market
17. Germany Echocardiography Market
18. France Echocardiography Market
19. Italy Echocardiography Market
20. Spain Echocardiography Market
21. Eastern Europe Echocardiography Market
22. Russia Echocardiography Market
23. North America Echocardiography Market
24. USA Echocardiography Market
25. Canada Echocardiography Market
26. South America Echocardiography Market
27. Brazil Echocardiography Market
28. Middle East Echocardiography Market
29. Africa Echocardiography Market
30. Echocardiography Market Competitive Landscape and Company Profiles
31. Echocardiography Market Other Major and Innovative Companies
35. Echocardiography Market High Potential Countries, Segments and Strategies
36. Appendix
Executive Summary
Echocardiography Global Market Report 2025 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on echocardiography market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for echocardiography? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The echocardiography market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Test Type: Transthoracic Echocardiography, Transesophageal Echocardiography; Stress Echocardiography; Other Test Types2) 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 Echocardiogram2) 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
Key Companies Mentioned: Samsung Electronics Co. Ltd.; General Electric Company; Ecare Medical Technology; Siemens Healthcare GmbH; Fujifilm Holdings Corporation
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
Some of the major companies featured in this Echocardiography market report include:- 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.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | March 2025 |
| Forecast Period | 2025 - 2029 |
| Estimated Market Value ( USD | $ 1.93 Billion |
| Forecasted Market Value ( USD | $ 2.47 Billion |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 31 |
