The anticipated size of the intracardiac echocardiography market in 2022 was US$ 660.6 million and is estimated to be US$ 698.9 million in 2023.
The growth of the intracardiac echocardiography market is due to the growth in the prevalence of cardiac diseases, leading to rising in the geriatric population, and technological advancements in interventional cardiology devices.
According to Future Market Insights (FMI) analysis, the intracardiac echocardiography market is estimated to expand at a CAGR of 5.8% between 2023 and 2033, totaling around US$ 1,228.2 million by 2033.
Sales of intracardiac echocardiography systems are expected to rise as it is especially beneficial for mapping components that are not visible with fluoroscopies. Demand for intracardiac echocardiography systems is rising as ICE is being favored over other diagnostic approaches and the rising frequency of arrhythmia in the global population.
The increasing prevalence of cardiovascular diseases across the globe is also projected to contribute to the growth of the intracardiac echocardiography market share. Some of the key intracardiac echocardiography market trends promoting the demand for intracardiac echocardiography systems include:
This is anticipated to boost the growth of the intracardiac echocardiography market share. However, one of the primary restraints of the intracardiac echocardiography market is the additional catheter cost, which can be negated by improvising turnaround times and reducing personnel costs.
| Attributes | Details |
|---|---|
| Projected Forecast Value (2022) | US$ 660.6 million |
| Projected Forecast Value (2023) | US$ 698.9 million |
| Projected Forecast Value (2033) | US$ 1,228.2 million |
| Growth rate | 5.8% CAGR |
| Forecast period | 2023 to 2033 |
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The global intracardiac echocardiography market expanded at a CAGR of 6.1% between 2018 and 2022. The market is predicted to exhibit a CAGR of 5.8% between 2023 and 2033.
Boost in the geriatric population with the increase in usage of intracardiac echocardiography is anticipated to lead a contribution to the growth of the market over the forecasted period. The burden of cardiac diseases hence rises with the prevalence of the sedentary lifestyle of the population, thus boosting the market's growth.
Growth in Geriatric Population with the Rise in Technological Improvements
The rising prevalence of cardiac diseases, the growing geriatric population, and technological improvements in interventional cardiology devices are all driving the intracardiac echocardiography market forward.
Sales of intracardiac echocardiography systems are rising as it is one of the popular imaging technologies being used to guide percutaneous interventional procedures. Further, the demand for intracardiac echocardiography systems is anticipated to rise as they are being widely used for the treatment of interatrial septal abnormalities and also aid in electrophysiological procedures.
Demand for intracardiac echocardiography systems is anticipated to rise as they are being used for finding intracardiac structures, which is thus used in other procedures like myocardial biopsy and paravalvular leak closure.
Heightening the Sales of Intracardiac Echocardiography Systems
Rising demand for intracardiac echocardiography systems is further anticipated to heighten the sales of intracardiac echocardiography systems. The key driver of the intracardiac echocardiography market is the treatment of atrial septal defects that eliminates the need for general anesthesia.
Factors augmenting the sales of intracardiac echocardiography systems are the production of images that are clear and crisp, with shorter procedure time, reduced hospital stays, and radiation doses.
The accuracy and efficiency of intracardiac echocardiography are one of the primary factors in the growth of the intracardiac echocardiography market.
Driving the Sales of Intracardiac Echocardiography Systems
The portability and compactness of intracardiac echocardiography are anticipated to drive the sales of intracardiac echocardiography systems and aid market growth. Additionally, an increase in several minimally invasive cardiac procedures and a high adoption rate of intracardiac echocardiography are also factors that are anticipated to boost the demand for intracardiac echocardiography systems and overall market growth.
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Lack of Awareness and Inadequate Reimbursement Hamper the Growth
Lack of awareness regarding intracardiac echocardiography imaging devices and inadequate reimbursement may hamper the growth of the intracardiac echocardiography market during the forecast period.
Improvements in New Products Led North America’s Market
Due to new product improvements and increased awareness of the product through medical conferences, North America is expected to lead the intracardiac echocardiography market. North America holds a value share of 34.5% and the United States is a part of this region, which holds a significant share of 28.3% in this market.
The Availability of Innovative and Developmental Activities
Europe is predicted to be the second-most significant market for intracardiac echocardiography with a value share of 29.2% due to high-end financing and support for innovative and development activities and an emphasis on having high consolidation and a significant research base. This factor is anticipated to increase the sales of the intracardiac echocardiography system in the region. The United Kingdom considerably expands at a CAGR of 5.20% in this region.
Rise in Population with a Simultaneous Rise in Healthcare Spending
Increased population growth increased healthcare spending, and enormous growth in research and development in both the East and South Asian markets due to lifestyle changes.
China expands at a CAGR of 6.60%, likewise, India is forecasted at a CAGR of 6.90% leading to the growing demand for intracardiac echocardiography systems at a notable rate. Such reasons are expected to propel the global intracardiac echocardiography market forward over the forecast period.
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Electrophysiology is likely to drive the demand in the market
Demand for electrophysiology rises as it helps in evaluating the electrical activity of the heart, considering it to be the first step in the diagnosis of arrhythmia or determining if there is a change in the heart’s rhythm. Electrophysiology, thus has a market share of 31%.
Hospitals are considered to be the Leading End Users in Intracardiac Echocardiography Market
The surge in the number of hospitalized patients owes to an increase in the presence of cardiac diseases holding a market share of 38%. Growth of the hospital segment can be considered to have an increase in usage of the intracardiac echocardiography market.
Some of the prominent players working in the global market are-
Some of the notable developments in the intracardiac echocardiography market are-
The new additions to Abbott's Diversity in Clinical Trials initiative build on the partnerships, scholarships, and the focus on diversified participants in the company's clinical trials during the initiative's first year.
| Report Attributes | Details |
|---|---|
| Growth Rate | CAGR of 5.8% from 2023 to 2033 |
| Market value in 2023 | US$ 698.9 million |
| Market value in 2033 | US$ 1,228.2 million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | US$ million for Value and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | By Indication, By End-user, By Balloon Type, By Catheter Type, By Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East & Africa |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel |
| Key Companies Profiled | Abbott; Koninklijke Philips N.V.;InfraredxTM, Inc.; Boston Scientific Corporation; Kaixin; Medtronic; Terumo Medical Corporation; B. Braun Melsungen AG; Johnson & Johnson; C. R. Bard, Inc |
| Customisation Scope | Available on Request |
The market is valued at US$ 698.9 million in 2023.
Abbott, Koninklijke Philips N.V., and InfraredxTM, Inc. are key market players.
From 2018 to 2022, the market registered a CAGR of 6.1%.
Increasing technological innovations to boost the market prospects.
The United States hold a market share of 28.3% in 2023.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Investment Feasibility Matrix 3.5. PESTLE and Porter’s Analysis 3.6. Regulatory Landscape 3.6.1. By Key Regions 3.6.2. By Key Countries 3.7. Regional Parent Market Outlook 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022 4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) Analysis By Product, 2018 to 2022 5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Product, 2023 to 2033 5.3.1. Mechanical Ultrasound Transducer-tipped Catheters 5.3.2. Electronic phased-Array Ultrasound Catheters 5.4. Y-o-Y Growth Trend Analysis By Product, 2018 to 2022 5.5. Absolute $ Opportunity Analysis By Product, 2023 to 2033 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) Analysis By Application, 2018 to 2022 6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Application, 2023 to 2033 6.3.1. Electrophysiology 6.3.2. Pulmonary Vein Isolation for Atrial Fibrillation 6.3.3. Left Atrial Appendage Closure 6.3.4. Transcatheter Aortic Valve Implantation 6.3.5. MitraClip Implantation 6.3.6. Mitral Valvuloplasty 6.4. Y-o-Y Growth Trend Analysis By Application, 2018 to 2022 6.5. Absolute $ Opportunity Analysis By Application, 2023 to 2033 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ Million) Analysis By End User , 2018 to 2022 7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By End User , 2023 to 2033 7.3.1. Hospitals 7.3.2. Independent Cath Labs 7.3.3. Ambulatory Surgical Centers 7.3.4. Clinics 7.4. Y-o-Y Growth Trend Analysis By End User , 2018 to 2022 7.5. Absolute $ Opportunity Analysis By End User , 2023 to 2033 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. Introduction 8.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022 8.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033 8.3.1. North America 8.3.2. Latin America 8.3.3. Western Europe 8.3.4. Eastern Europe 8.3.5. South Asia and Pacific 8.3.6. East Asia 8.3.7. Middle East and Africa 8.4. Market Attractiveness Analysis By Region 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 9.2.1. By Country 9.2.1.1. U.S. 9.2.1.2. Canada 9.2.2. By Product 9.2.3. By Application 9.2.4. By End User 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Product 9.3.3. By Application 9.3.4. By End User 9.4. Key Takeaways 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 10.2.1. By Country 10.2.1.1. Brazil 10.2.1.2. Mexico 10.2.1.3. Rest of Latin America 10.2.2. By Product 10.2.3. By Application 10.2.4. By End User 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Product 10.3.3. By Application 10.3.4. By End User 10.4. Key Takeaways 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 11.2.1. By Country 11.2.1.1. Germany 11.2.1.2. U.K. 11.2.1.3. France 11.2.1.4. Spain 11.2.1.5. Italy 11.2.1.6. Rest of Western Europe 11.2.2. By Product 11.2.3. By Application 11.2.4. By End User 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Product 11.3.3. By Application 11.3.4. By End User 11.4. Key Takeaways 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 12.2.1. By Country 12.2.1.1. Poland 12.2.1.2. Russia 12.2.1.3. Czech Republic 12.2.1.4. Romania 12.2.1.5. Rest of Eastern Europe 12.2.2. By Product 12.2.3. By Application 12.2.4. By End User 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Product 12.3.3. By Application 12.3.4. By End User 12.4. Key Takeaways 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 13.2.1. By Country 13.2.1.1. India 13.2.1.2. Bangladesh 13.2.1.3. Australia 13.2.1.4. New Zealand 13.2.1.5. Rest of South Asia and Pacific 13.2.2. By Product 13.2.3. By Application 13.2.4. By End User 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Product 13.3.3. By Application 13.3.4. By End User 13.4. Key Takeaways 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 14.2.1. By Country 14.2.1.1. China 14.2.1.2. Japan 14.2.1.3. South Korea 14.2.2. By Product 14.2.3. By Application 14.2.4. By End User 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Product 14.3.3. By Application 14.3.4. By End User 14.4. Key Takeaways 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 15.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 15.2.1. By Country 15.2.1.1. GCC Countries 15.2.1.2. South Africa 15.2.1.3. Israel 15.2.1.4. Rest of MEA 15.2.2. By Product 15.2.3. By Application 15.2.4. By End User 15.3. Market Attractiveness Analysis 15.3.1. By Country 15.3.2. By Product 15.3.3. By Application 15.3.4. By End User 15.4. Key Takeaways 16. Key Countries Market Analysis 16.1. U.S. 16.1.1. Pricing Analysis 16.1.2. Market Share Analysis, 2022 16.1.2.1. By Product 16.1.2.2. By Application 16.1.2.3. By End User 16.2. Canada 16.2.1. Pricing Analysis 16.2.2. Market Share Analysis, 2022 16.2.2.1. By Product 16.2.2.2. By Application 16.2.2.3. By End User 16.3. Brazil 16.3.1. Pricing Analysis 16.3.2. Market Share Analysis, 2022 16.3.2.1. By Product 16.3.2.2. By Application 16.3.2.3. By End User 16.4. Mexico 16.4.1. Pricing Analysis 16.4.2. Market Share Analysis, 2022 16.4.2.1. By Product 16.4.2.2. By Application 16.4.2.3. By End User 16.5. Germany 16.5.1. Pricing Analysis 16.5.2. Market Share Analysis, 2022 16.5.2.1. By Product 16.5.2.2. By Application 16.5.2.3. By End User 16.6. U.K. 16.6.1. Pricing Analysis 16.6.2. Market Share Analysis, 2022 16.6.2.1. By Product 16.6.2.2. By Application 16.6.2.3. By End User 16.7. France 16.7.1. Pricing Analysis 16.7.2. Market Share Analysis, 2022 16.7.2.1. By Product 16.7.2.2. By Application 16.7.2.3. By End User 16.8. Spain 16.8.1. Pricing Analysis 16.8.2. Market Share Analysis, 2022 16.8.2.1. By Product 16.8.2.2. By Application 16.8.2.3. By End User 16.9. Italy 16.9.1. Pricing Analysis 16.9.2. Market Share Analysis, 2022 16.9.2.1. By Product 16.9.2.2. By Application 16.9.2.3. By End User 16.10. Poland 16.10.1. Pricing Analysis 16.10.2. Market Share Analysis, 2022 16.10.2.1. By Product 16.10.2.2. By Application 16.10.2.3. By End User 16.11. Russia 16.11.1. Pricing Analysis 16.11.2. Market Share Analysis, 2022 16.11.2.1. By Product 16.11.2.2. By Application 16.11.2.3. By End User 16.12. Czech Republic 16.12.1. Pricing Analysis 16.12.2. Market Share Analysis, 2022 16.12.2.1. By Product 16.12.2.2. By Application 16.12.2.3. By End User 16.13. Romania 16.13.1. Pricing Analysis 16.13.2. Market Share Analysis, 2022 16.13.2.1. By Product 16.13.2.2. By Application 16.13.2.3. By End User 16.14. India 16.14.1. Pricing Analysis 16.14.2. Market Share Analysis, 2022 16.14.2.1. By Product 16.14.2.2. By Application 16.14.2.3. By End User 16.15. Bangladesh 16.15.1. Pricing Analysis 16.15.2. Market Share Analysis, 2022 16.15.2.1. By Product 16.15.2.2. By Application 16.15.2.3. By End User 16.16. Australia 16.16.1. Pricing Analysis 16.16.2. Market Share Analysis, 2022 16.16.2.1. By Product 16.16.2.2. By Application 16.16.2.3. By End User 16.17. New Zealand 16.17.1. Pricing Analysis 16.17.2. Market Share Analysis, 2022 16.17.2.1. By Product 16.17.2.2. By Application 16.17.2.3. By End User 16.18. China 16.18.1. Pricing Analysis 16.18.2. Market Share Analysis, 2022 16.18.2.1. By Product 16.18.2.2. By Application 16.18.2.3. By End User 16.19. Japan 16.19.1. Pricing Analysis 16.19.2. Market Share Analysis, 2022 16.19.2.1. By Product 16.19.2.2. By Application 16.19.2.3. By End User 16.20. South Korea 16.20.1. Pricing Analysis 16.20.2. Market Share Analysis, 2022 16.20.2.1. By Product 16.20.2.2. By Application 16.20.2.3. By End User 16.21. GCC Countries 16.21.1. Pricing Analysis 16.21.2. Market Share Analysis, 2022 16.21.2.1. By Product 16.21.2.2. By Application 16.21.2.3. By End User 16.22. South Africa 16.22.1. Pricing Analysis 16.22.2. Market Share Analysis, 2022 16.22.2.1. By Product 16.22.2.2. By Application 16.22.2.3. By End User 16.23. Israel 16.23.1. Pricing Analysis 16.23.2. Market Share Analysis, 2022 16.23.2.1. By Product 16.23.2.2. By Application 16.23.2.3. By End User 17. Market Structure Analysis 17.1. Competition Dashboard 17.2. Competition Benchmarking 17.3. Market Share Analysis of Top Players 17.3.1. By Regional 17.3.2. By Product 17.3.3. By Application 17.3.4. By End User 18. Competition Analysis 18.1. Competition Deep Dive 18.1.1. Abbott 18.1.1.1. Overview 18.1.1.2. Product Portfolio 18.1.1.3. Profitability by Market Segments 18.1.1.4. Sales Footprint 18.1.1.5. Strategy Overview 18.1.1.5.1. Marketing Strategy 18.1.2. Koninklijke Philips N.V. 18.1.2.1. Overview 18.1.2.2. Product Portfolio 18.1.2.3. Profitability by Market Segments 18.1.2.4. Sales Footprint 18.1.2.5. Strategy Overview 18.1.2.5.1. Marketing Strategy 18.1.3. InfraredxTM, Inc. 18.1.3.1. Overview 18.1.3.2. Product Portfolio 18.1.3.3. Profitability by Market Segments 18.1.3.4. Sales Footprint 18.1.3.5. Strategy Overview 18.1.3.5.1. Marketing Strategy 18.1.4. Boston Scientific Corporation 18.1.4.1. Overview 18.1.4.2. Product Portfolio 18.1.4.3. Profitability by Market Segments 18.1.4.4. Sales Footprint 18.1.4.5. Strategy Overview 18.1.4.5.1. Marketing Strategy 18.1.5. Kaixin 18.1.5.1. Overview 18.1.5.2. Product Portfolio 18.1.5.3. Profitability by Market Segments 18.1.5.4. Sales Footprint 18.1.5.5. Strategy Overview 18.1.5.5.1. Marketing Strategy 18.1.6. Medtronic 18.1.6.1. Overview 18.1.6.2. Product Portfolio 18.1.6.3. Profitability by Market Segments 18.1.6.4. Sales Footprint 18.1.6.5. Strategy Overview 18.1.6.5.1. Marketing Strategy 18.1.7. Terumo Medical Corporation 18.1.7.1. Overview 18.1.7.2. Product Portfolio 18.1.7.3. Profitability by Market Segments 18.1.7.4. Sales Footprint 18.1.7.5. Strategy Overview 18.1.7.5.1. Marketing Strategy 18.1.8. B. Braun Melsungen AG 18.1.8.1. Overview 18.1.8.2. Product Portfolio 18.1.8.3. Profitability by Market Segments 18.1.8.4. Sales Footprint 18.1.8.5. Strategy Overview 18.1.8.5.1. Marketing Strategy 18.1.9. Johnson & Johnson 18.1.9.1. Overview 18.1.9.2. Product Portfolio 18.1.9.3. Profitability by Market Segments 18.1.9.4. Sales Footprint 18.1.9.5. Strategy Overview 18.1.9.5.1. Marketing Strategy 18.1.10. C. R. Bard, Inc 18.1.10.1. Overview 18.1.10.2. Product Portfolio 18.1.10.3. Profitability by Market Segments 18.1.10.4. Sales Footprint 18.1.10.5. Strategy Overview 18.1.10.5.1. Marketing Strategy 19. Assumptions & Acronyms Used 20. Research Methodology
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Intracardiac Echocardiography Market
