MARKET OUTLOOK
Research by Triton shows that the Asia-Pacific cardiovascular ultrasound system market will be fast progressing at a CAGR of 5.95% in terms of revenue over the forecast period of 2019-2027.
China, Japan, India, South Korea, Australia & New Zealand, ASEAN countries and rest of APAC together form the market for cardiovascular ultrasound systems in the Asia-Pacific region.
The rise of the South Korea cardiovascular ultrasound system market is backed owing to various government initiatives supporting the development of cardiovascular ultrasound systems. For instance, South Korea’s universal national healthcare system referred to as the National Health Insurance (NHI), being managed by the Ministry of Health and Welfare (MoHW) has developed health assessment service and health insurance review’s Value Incentive Program (VIP), which is expected to boost the adoption of cardiovascular ultrasound systems for diagnostic purposes and thereby, drives South Korea cardiovascular ultrasound system market growth. According to the Seoul National University Hospital Organization, in 2015, the cardiovascular center at the Seoul National University Hospital was continuously involved in researches to diagnose various cardiovascular diseases. Thus, the various ongoing researches and government initiatives supporting the development of cardiovascular ultrasound systems has led to the growth of the cardiovascular ultrasound system market in South Korea.
COMPETITIVE OUTLOOK
The important players in the market are Samsung Electronics Co., Ltd., Unetixs Vascular, Inc. (acquired by Opto Circuits), AtriCure, Inc., Esaote S.p.A., Boston Scientific Corporation, GE Healthcare, Inc. and Hitachi Medical Corporation.