MARKET OUTLOOK
Triton Market Research has concluded that the North America cardiovascular ultrasound system market is projected to grow at a CAGR of 4.88% in the estimated years 2019-2027.
The countries of Canada and the US together form the market for cardiovascular ultrasound systems in the North American region.
The rise of the cardiovascular ultrasound system market in Canada can be attributed to the rising adoption of cardiovascular ultrasound systems and the government funding on cardiovascular diseases treatment-related research activities. The University of Ottawa Heart Institute in cooperation with the Ontario Health Service Institute, in 2015, introduced a program named, ‘Baffin Island Cardiac Program’, with the aim of providing cardiac check-ups and treatments. Further, the project was implemented with the help of GE’s Vivid i cardiovascular ultrasound system in Canada, which shows that the adoption of the cardiovascular ultrasound systems is high in the country that positively influences the growth of the cardiovascular ultrasound system market in Canada.
In addition, the government funding for cardiovascular disease treatment-related research activities also drives the market in Canada. According to the Canadian Cardiovascular Society (CCS), in 2017, the society received funds of around $1.7 million from the Government of Canada to support innovative cardiovascular research activities and promote high-quality cardiovascular care by various advancements related to cardiovascular ultrasound systems that positively impact the country’s cardiovascular ultrasound system market.
COMPETITIVE OUTLOOK
Few of the prime players in this market are Boston Scientific Corporation, GE Healthcare, Inc., Hitachi Medical Corporation, Toshiba Medical Systems Corporation (acquired by Canon, Inc.), Fujifilm Holdings Corporation, CHISON Medical Imaging Co., Ltd. and Mindray Medical International Limited.