Europe Handheld Echocardiography Devices Market Size, Share & COVID-19 Impact Analysis, By Test Type (Transthoracic Echocardiography and Others), By Technology (2D and Doppler Imaging), By End-user (Hospitals & ASCs, Diagnostic Centers, and Others), and Regional Forecast, 2023-2030

The Europe handheld echocardiography devices market size was valued at USD 11.6 million in 2022 and is projected to grow from USD 12.7 million in 2023 to USD 26.2 million by 2030, exhibiting a CAGR of 10.9% during the forecast period.

An echocardiogram is a non-invasive procedure that efficiently diagnoses heart diseases.  The emergence of handheld devices can turn mobile phones or tablets into ultrasound devices through software and a transducer. These transducers can be plugged into the devices or connected wirelessly.  Handheld echocardiography devices have made it easy for cardiologists to screen and diagnose heart diseases efficiently. Handheld devices are majorly used in intensive care units (ICUs) due to their portability and cost-effectiveness.

The rising prevalence of heart diseases has been fueling the demand for time-efficient diagnosis devices. For instance, as per the data published by Elsevier Inc. in 2022, around 1.49 million patients were admitted to the hospital due to heart failure. Furthermore, after the outbreak of COVID-19, the use of handheld devices, such as point-of-care ultrasound (POCUS), increased for chest imaging. This was due to the various advantages associated with its use, such as easy accessibility, infection control, rapid results, and others.

Moreover, handheld echocardiography is more efficient and cost-effective in the early diagnosis of heart-related disorders than other echocardiographies. Therefore, the increasing adoption of these devices at cardiology clinics has been fueling the Europe handheld echocardiography devices market  growth.    

COVID-19  IMPACT

Decreased Patient Visits to Hospitals During Pandemic Slowed Market Growth

Due to the COVID-19 outbreak, the market experienced slow growth in 2020. The government posed lockdown restrictions to reduce the virus’ spread. This resulted in less number of patient visits to hospitals and other healthcare settings for diagnosis and imaging.

The number of non-emergency echocardiograms conducted in diagnostic centers, hospitals, and clinics experienced a significant decline. For instance, as per the data published by the British Heart Foundation, in May and June of 2020, only 87,902 echocardiograms were conducted in England, experiencing a decline of -67.9% compared to the same months of the prior year.

Market players also witnessed a decrease in their revenues generated from their echocardiography product portfolio. For instance, Koninklijke Philips N.V. generated USD 1,719.2 million in revenue from its ultrasound portfolio in 2020, witnessing a decrease of -8.2% from the previous year.

However, after the outbreak of COVID-19, the use of handheld cardiac ultrasound devices in ICUs to detect any heart disease among COVID-19-impacted patients increased.

Furthermore, after the COVID-19 pandemic, the key players experienced growth in 2021 and 2022 from the revenues generated through their echocardiography portfolio. For instance, Koninklijke Philips N.V.  experienced a growth of 0.3% and 0.6% in its revenue generated through the ultrasound product portfolio in 2021 and 2022, respectively. Therefore, the market experienced significant growth post-COVID-19.

Europe Handheld Echocardiography Devices Market Trends

Emergence of Ultrasound in Telehealth to Boost Market Growth

Telehealth helps the patient to consult the doctor without actually visiting their clinic. Telehealth in ultrasound scanners helps the technician to connect with the expert to conduct the procedure effectively.

Many companies, such as GE HealthCare, Clarius, and Butterfly Network, Inc., have started providing telehealth services for guidance during ultrasound procedures. For instance, Butterfly Network, Inc. and Clarius deliver these services through their telemedicine platform, Butterfly Teleguidance and Clarius Live.

The telemedicine platform can help users learn to use handheld devices by connecting them to experts. This can help new users become more comfortable in using these devices in real-life cases and get a second opinion on a diagnosis from the experts.

Nowadays, ultrasound is being taught in nursing schools. Telemedicine platforms can help new users to connect with experienced practitioners to learn the use of ultrasound.

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Europe Handheld Echocardiography Devices Market Growth Factors

Adoption of Handheld Echocardiography Over Other Cardiac Diagnostics to Fuel Market Growth

Cardiac diagnoses, such as cardiac catheterization, coronary computed tomography angiogram (CCTA), and nuclear cardiac stress test, are suggested by doctors to detect heart disorders. However, these procedures can be quite costly and require longer hospital stays. Moreover, some of these procedures are invasive. Due to such reasons, cardiologists have limited the use of the procedures mentioned above.

Distinct advantages of handheld echocardiography, such as cost-effectiveness, rapid diagnosis, non-invasive, compact body, and others, over other devices, have increased its adoption over other cardiac diagnostics. Moreover, as echocardiograms are non-invasive procedures, they do not require hospital stays compared to cardiac catheterization. The penetration of these devices in the ICUs has increased recently. The compact size of these devices is one of the reasons for their increased adoption.

Furthermore, its adoption has also increased at the cardiology clinics for regular checkups as it helps the cardiologist detect heart diseases. The use of handheld devices has also been observed as point-of-care ultrasound (POCUS) for regular monitoring of the patients.

Such increased use of these devices is expected to fuel the Europe handheld echocardiography devices market growth.

RESTRAINING FACTORS

Lack of Experienced Technicians with Limitations Related to Handheld Echocardiography Devices Usage to Limit Market Growth

The adoption of handheld echocardiography devices has been increasing due to their compactness and comparatively cheaper costs. However, limitations in handheld devices, such as the lack of 3D imaging and 4D imaging technology and comparatively low imaging quality, among others, make it necessary for healthcare providers to rely on cart-based systems for performing crucial imaging procedures. 

Furthermore, the lack of availability of experienced users performing echocardiograms through handheld devices limits the adoption of these devices, as incorrect use can result in poor imaging outputs.

Moreover, the lack of awareness regarding handheld echocardiography devices in emerging European countries limits the adoption of the device in these countries.

The factors mentioned above can negatively impact the market expansion during the forecast period.

Europe Handheld Echocardiography Devices Market Segmentation Analysis

By Test Type Analysis

Rising Prevalence of Arterial Fibrillation led to Transthoracic Echocardiography Segment Growth

By test type, the market is segmented into transthoracic echocardiography and others. The other segment includes fetal echocardiography and transesophageal echocardiography.

The transthoracic echocardiography segment dominated the European market in 2022 due to the rising prevalence of heart diseases, such as arterial fibrillation, in the region. The increasing prevalence of heart diseases has increased the demand for cost-effective and accurate diagnostics, such as handheld devices. This factor has been fueling the segment’s growth.

For instance, according to an article published by the American Heart Association (AHA), in 2020, in Europe, around 9.0 million individuals aged 55 and above were affected by arterial fibrillation. This number is expected to reach 14.0 million by 2060.

The others segment is anticipated to grow at a significant CAGR during the forecast period due to the increasing applications of handheld devices in fetal and transesophageal echocardiograms. Handheld devices have recently emerged for fetal echocardiograms, as these devices can help diagnose heart-related problems in the fetus at an initial stage. Due to this, the adoption of these devices has started to upsurge at gynecology clinics.

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By Technology Analysis

Adoption of Technologically Advanced Devices to Drive 2D Segment Growth

Based on technology, the market is bifurcated into 2D and doppler imaging.

The 2D imaging segment accounted for a significant Europe handheld echocardiography devices market share in 2022. The increasing focus of market players on the adoption of advanced technology in their products to increase the efficiency of their 2D imaging has been fueling the segment’s growth.

• For instance, in February 2022, Koninklijke Philips N.V. announced the advancement in hemodynamic assessment and measurement capabilities in its handheld point-of-care ultrasound, Lumify.

The doppler imaging segment is anticipated to grow at the fastest CAGR during the projected period. The prevalence of cardiovascular diseases has been increasing at a significant rate in the region. Moreover, based on clinical evidence, the accuracy of doppler imaging for the detection of any lesions is expected to be very high. These factors are expected to fuel the adoption of handheld devices with doppler imaging technology during the forecast period.

By End-user Analysis

Rising Use of Handheld Devices in Hospitals Fueled Hospitals & ASCs Segment Growth

By end-user, the market is segmented into diagnostic centers, hospitals & ASCs, and others.

The hospitals & ASCs segment accounted for the dominant share in 2022. The growth of the segment is attributed to the increasing usage of handheld echocardiography systems in hospitals, especially in intensive care units (ICUs). The segment also witnessed growth due to the increased demand for these devices in the ICUs for heart-function monitoring of COVID-19-impacted patients, as it provides accurate and rapid results.

The diagnostic center segment is expected to grow at a substantial CAGR during the forecast period. The increasing number of European-accredited diagnostic centers in the region is responsible for the higher demand for echocardiograms in these settings.

For instance, according to the European Society of Cardiology, there are more than 100 European Association of Cardiovascular Imaging (EACVI) Echo Accredited Laboratories in Europe. The rising number of cardiovascular imaging facilities has been increasing the availability of these centers for cardiac diagnostics of patients in the country, thereby fueling the demand for these systems.

REGIONAL INSIGHTS

The handheld echocardiography devices market generated a maximum value of USD 2.8 million from Germany in 2022. The increasing prevalence of heart-related disorders in the country has increased the demand for effective and accurate diagnostics, fueling the market’s growth.  For instance, as per the data by the Global Burden of Disease Collaborative Network, in 2019, more than 3.6 million people are living with CHD, and more than 1.3 million have survived a stroke in Germany.

Moreover, the market in the U.K. is expected to grow at a significant CAGR during the forecast period. The rising awareness about these devices and the increasing government initiatives in the country have been fueling the market’s growth.

For instance, in April 2022, the U.K. government announced the establishment of 160 community diagnostic centers in England by 2025. The government also announced the investment of approximately USD 42.5 billion in the health and social care system to ensure it has the long-term resource it needs while working to reduce patient waiting times and speed up diagnosis.

List of Key Europe Handheld Echocardiography Devices Market Companies

Strong Brand Presence has led GE Healthcare to Dominate Market Expansion

The major players in the market include Koninklijke Philips N.V., GE Healthcare, and Butterfly Network, Inc. Together, these players account for the maximum market share. GE Healthcare’s dominance in the market due to its increasing focus on acquiring other companies to strengthen its market position. 

For instance, in February 2023, GE Healthcare acquired Caption Health, Inc. to provide affordable and convenient access to ultrasound imaging.

Koninklijke Philips N.V. also held a significant market share in 2022. The company’s growth is attributed to its strong presence in European countries, including Germany, France, Italy, Spain, the U.K., and others.

Other companies, such as Clarius and CHISON Medical Technologies Co., Ltd., have increased their focus on partnership and R&D to launch new technologically advanced products. For instance, Clarius launched an ultrasound system, Clarius Power Fan HD3, in September 2023, enabling all-day ultrasound scanning. 

LIST OF KEY COMPANIES PROFILED:

• Koninklijke Philips N.V. (Netherlands)


• General Electric Company (U.S.)


• Clarius (Canada)


• EchoNous Inc. (U.S.)


• CHISON Medical Technologies Co., Ltd. (China)


• Butterfly Network, Inc. (U.S.)


• ImaCor (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• January 2023 – Clarius introduced an ultrasound system, Clarius Power Fan HD3, that enables all-day scanning, a first for handheld ultrasound devices.


• September 2022 – Clarius collaborated with Dr. Thomas Cook, a renowned emergency medicine physician and ultrasound educator, to deliver a series of webinars designed to help emergency physicians make better and faster decisions about patient care.


• June 2022 – Clarius and ImaCor partnered to commercialize Imacor’s handheld transesophageal echocardiography (TEE), Zura Handheld.


• December 2021 – Koninklijke Philips N.V. acquired Vesper Medical Inc., a medical technology company, to enhance its diagnostic and therapeutic offerings.


• September 2021 – UltraSight, in partnership with GE Healthcare, conducted a cardiac study on the Axiom 'Rakia' space mission, which portrayed the ease of using handheld echocardiography devices globally.

REPORT COVERAGE

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The Europe handheld echocardiography devices market report provides a detailed competitive landscape. It also includes key insights, such as top industry developments covering partnerships, mergers, and acquisitions. Additionally, it focuses on key points, such as new solution launches in the market. Furthermore, the report covers regional analysis of different segments, profiles of key market players, market trends, and the impact of COVID-19 on the market. The report consists of quantitative and qualitative insights that have contributed to the market's growth.

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