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Handheld Echocardiography Devices Market Analysis

  • Report ID: GMI8412
  • Published Date: Mar 2024
  • Report Format: PDF

Handheld Echocardiography Devices Market Analysis

Based on product, the market is classified into diagnostics ECG machines and monitoring ECG devices. The diagnostics ECG machines is sub segmented into resting ECG and stress ECG. The monitoring ECG devices are sub segmented into holter monitors, mobile cardiac telemetry (MCT), wearable ECG devices, and other devices. The diagnostics ECG machines segment held a market size of 1.7 billion in 2023.

  • Diagnostics ECG machines play a significant role in cardiovascular diagnostics by offering rapid, non-invasive assessment of cardiac rhythm and providing essential information for diagnosing and managing various cardiac conditions.
  • Furthermore, diagnostics ECG machines provide immediate results, allowing healthcare providers to quickly assess the patient's cardiac rhythm and detect any abnormalities. This rapid assessment is particularly crucial in emergency situations, such as suspected heart attacks where prompt diagnosis and treatment are essential.
  • Moreover, many modern ECG machines are equipped with electronic data storage and transmission capabilities. This allows ECG results to be seamlessly integrated with electronic health records systems, facilitating documentation, analysis, and retrieval of patient data, thereby fostering the segment growth.

Handheld Echocardiography Devices Market, By Lead Type (2023)

Based on lead type, the handheld echocardiography devices market is bifurcated into single lead type, 3 lead type, 6 lead type, 12 lead type and other lead types. The 12 lead type segment is estimated to account for a market size of USD 2.1 billion by 2032.

  • 12-lead ECG provides a comprehensive assessment of the electrical activity of the heart from multiple perspectives, allowing for the detection of various abnormalities such as arrhythmias, conduction disorders, and ischemic changes.
  • Further, it offers real-time imaging capabilities that allow healthcare providers to dynamically assess cardiac structures, valves, and blood flow patterns.
  • Moreover, offer the advantage of providing immediate results, enabling healthcare providers to quickly assess cardiac function, detect abnormalities, and make prompt treatment decisions at the point of care, thereby augmenting the segment growth of the market.

Based on end-use, the handheld echocardiography devices market is categorized into hospitals and clinics, diagnostic centers, ambulatory surgical centers, home care settings, and other end-users. The hospitals and clinics segment accounted for around USD 1.6 billion revenue size in 2023.

  • Handheld echocardiography devices are compact and lightweight, allowing for easy transport within hospitals and clinics. This portability facilitates bedside assessments, outpatient consultations, and imaging in remote or underserved areas of the facility.
  • Further, it enables clinicians to perform immediate cardiac assessments at the point of care, eliminating the need for patient transfers to dedicated imaging departments. This saves time, reduces patient wait times, and enhances workflow efficiency.
  • Thus, handheld echocardiography devices offer hospitals and clinics numerous advantages, including portability, point of care testing, rapid diagnosis, enhanced patient care, cost-effectiveness, streamlined workflow, and versatility, thereby contributing to the growth of the market.

North America Handheld Echocardiography Devices Market,  2020 – 2032 (USD Million)

North America handheld echocardiography devices market accounted for USD 1 billion revenue in 2023 and is predicted to witness substantial market growth over the analysis timeline.

  • The region has a large aging population, increasing the demand for remote patient monitoring, and ongoing advancements in technology are influencing the development of market.
  • Growing prevalence of cardiovascular disease is estimated to augment market growth. For instance, according to the Centers for Disease Control and Prevention, in 2021 approximately 695,000 individuals in the U.S. succumbed to heart disease.
  • Further, North America boasts a highly developed healthcare infrastructure with state-of-the-art medical facilities, advanced diagnostic technologies, and a well-trained workforce. This facilitates widespread adoption and utilization of handheld echocardiography devices across various healthcare settings.
Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Handheld echocardiography devices market size was USD 3 billion in 2023 and is expected to register 4.5% CAGR from 2024-2032 owing to the increasing prevalence of cardiovascular diseases worldwide.

The diagnostics ECG machines segment reached USD 1.7 billion in 2023 and is expected to register an appreciable CAGR from 2024-2032 due to their ability to offer rapid, non-invasive assessment of cardiac rhythm.

North America handheld echocardiography devices industry recorded USD 1 billion in 2023 and is expected to register a commendable CAGR from 2024-2032 due to the presence of a large aging population and increasing demand for remote patient monitoring in the region.

Biotronik SE & Co. KG, Fukuda Denshi Co., Ltd., GE HealthCare Technologies Inc., Hill-Rom Holdings, Inc., Koninklijke Philips N.V., Medtronic plc, and Shenzhen Mindray Bio-Medical Electronics Co., Ltd., are some of the major handheld echocardiography devices companies worldwide.

Handheld Echocardiography Devices Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 10
  • Tables & Figures: 389
  • Countries covered: 22
  • Pages: 163
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