The cardiovascular ultrasound market produced $1.27 billion in revenues in 2016 and is expected to grow at a compound annual growth rate of 5.4% to reach $1.66 billion in revenues by 2021, according to a new report by research firm MarketsandMarkets.
The market will be driven by the increasing incidence of cardiovascular diseases, technological advancements, and the advantages of echocardiography over invasive cardiac diagnostic procedures, according to the company. On the downside, growth is being held back by insufficient reimbursement and the economic impact of adopting new technologies, MarketsandMarkets said.
