The global structural heart imaging market size was valued at USD 14.88 billion in 2020 and is projected to expand at a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the wide prevalence of heart-related diseases such as congenital heart diseases (CHDs) and increasing government funding to improve the treatment facilities.
Structural heart imaging includes a range of techniques that are primarily designed to detect heart disease or disorders of a patient. Structural heart disease (SHD), as a disorder related to tissues of the heart, can be found among newly born babies or developed to the aging population due to increasing occurrence of infection and injury. Patients suffering from SHD are likely to face some of the key consequence such as high blood pressure, arthrosclerosis, and heart attacks due to weakening of chambers and valves of the heart. CHDs are types of heart diseases that are present at birth and account for about a third of all major congenital defects worldwide.
Fusion of various imaging modalities is increasingly becoming more common for SHD diagnostic procedures because it allows high-quality images and real-time monitoring in the operating room. During the treatment of SHDs, real-time images are generated by combining echocardiography and fluoroscopy. Since magnetic resonance imaging (MRI) does not use ionizing radiation, it is a popular option for children and pregnant women for the disease diagnosis. MRI has also been useful for controlling myocardial and valve functions as well as diagnosing complex CHDs, thanks to technological advances.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing incidence of CHDs cases and increasing number of the aging population globally are key factors driving the market growth.
- Rising government support and initiatives to improve accessibility to advanced treatments of heart patients especially in developing regions are expected to fuel the market growth during the forecast period.
- Growing number of infants born with heart defects and several complications of heart congestion of newly born babies are key drivers of the market.
- Rapid development of new technology such as MR spectroscopy, perfusion, functional MRI, and diffusion tensor imaging, which are offering effective and accurate result of MRI. This is a major factor expected to boost the market.
Scope of the Structural Heart Imaging Market Report
The report on the global structural heart imaging market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Structural Heart Imaging Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Imaging Modality (Echocardiogram and Angiogram [MRI and CT])
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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CardioComm Solutions Inc.; Circle Cardiovascular Imaging, Inc.; HeartSciences; Koninklijke Philips N.V.; Pie Medical Imaging; Shimadzu Corporation; Siemens Healthineers; TomTec Imaging Systems GmbH; and Toshiba Corporation
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Structural Heart Imaging Market Segment Insights
Angiogram segment is projected to constitute a large key market share
Based on imaging modality, the structural heart imaging market is bifurcated into echocardiogram and angiogram. The angiogram segment is further divided into MRI and CT. The angiogram segment is expected to constitute a key share of the market during the forecast period owing to wide adoption of MRI and CT scan for heart-related diagnosis and treatment. The growing need for accurate diagnosis and imaging for the detection of SHDs, especially CHDs, is likely to drive up demand for MRI and CT scan, which is projected to boost the overall market share of the segment.
Meanwhile, the echocardiography segment accounted for a key market share in 2019 and is projected to exhibit a healthy growth rate during the forecast period. The rising demand for echocardiography is mainly due to its ability to use high temporal and spatial picture resolutions in real-time to assess physiological and anatomical anomalies linked to SHDs. As echocardiography is also useful for intraprocedural monitoring and postoperative follow-up, it is now the most commonly used method for diagnosing and tracking heart disease. Moreover, it offer several other advantages such as cost-effective, faster, and fewer negative consequences of the treatment using the technique.
Asia Pacific is anticipated to dominate the market
On the basis of regions, the structural heart imaging market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of Asia Pacific is anticipated to expand at an impressive CAGR and the region is anticipated to dominate the market during the forecast period. Increasing awareness of cardiac diseases as a result of extensive initiatives coordinated by healthcare organizations such the World Health Organization (WHO) and various governments in the region. Moreover, implementation of newborn screening programs and increasing access to advanced healthcare facilities for heart patients are expected to boost the regional market growth.
In 2020, North America held a large share of the market owing to early adoption of innovative technology in the field of medical and healthcare sector and rising demand for technologically advanced devices for the treatment and diagnosis of SHDs. Furthermore, the region also witnessed a high prevalence of coronary heart diseases especially in the US. As per a source, the US reported about 60 million people having SHDs, accounting for about 20% to 25% of the total population suffering from the disease. On the other hand, Europe accounted for a substantial portion of the market in 2020 and is projected to hold a substantial share of the market during the forecast period due to the involvement of major players and a large geriatric population. Furthermore, the provision of expansive health insurance in the region is projected to increase accessibility to advanced healthcare facilities for a large number of Europe's population.
Segments
The global structural heart imaging market has been segmented on the basis of
Imaging Modality
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the structural heart imaging market are CardioComm Solutions Inc.; Circle Cardiovascular Imaging, Inc.; HeartSciences; Koninklijke Philips N.V.; Pie Medical Imaging; Shimadzu Corporation; Siemens Healthineers; TomTec Imaging Systems GmbH; and Toshiba Corporation. Some of these major players have adopted distribution and commercialization deals with well-established players, as well as the creation of creative technology to stay ahead in the competitive and enhance their market share in the market. For instance, at RSNA 2015, GE Healthcare demonstrated a groundbreaking MRI technique that offered a performance of a complete 3D chest volume scan.
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