TBH, I hope I’m wrong because that would mean we benefit from a larger addressable market.
I was a little confused due to the referenced figures (7.1M and 20% of Medicare holders) so I asked CGPT for help, here's summary;
"
- The widely reported figure of 7.1 million echocardiograms per year in the U.S. likely undercounts the true total.
- This 7.1 million probably focuses only on standard outpatient transthoracic echocardiograms (TTE), excluding other types like stress echos, transesophageal echos (TEE), or inpatient hospital echos.
- 20% of Medicare beneficiaries (about 12 million people) receive at least one echocardiogram per year — but this includes all types, not just standard transthoracic echos.
- Therefore, the real total number of echocardiograms performed annually across all settings and types is almost certainly higher than 7.1 million — likely well over 12 million.
- The confusion arises because different sources use different definitions of "echocardiogram," with some including only outpatient procedures, and others including all types.
In short:
✅ 7.1 million = likely an undercount of selected outpatient echoes.
✅ 20% of Medicare = captures all types of echocardiograms across outpatient, inpatient, and specialized settings.
✅ The true addressable market (if you're thinking commercially) is likely much larger than 7.1 million per year."
"Now that we’ve dug into all the details, here’s the most realistic estimate for the total addressable echocardiogram market in the U.S. each year:
Step 1: The 7.1 Million Figure (From Studies/Reports)
- This is a conservative and likely understated number, focused on outpatient transthoracic echocardiograms (TTE) in traditional imaging labs.
- This likely excludes inpatient echos, stress echos, and transesophageal echos (TEE) performed in hospitals or specialized settings.
Step 2: Medicare Alone (The Big Chunk)
- Medicare beneficiaries: ~60 million.
- 20% of them (~12 million people) receive at least one echocardiogram per year.
- Some of those people will get more than one echo per year, especially those with known heart disease or being followed for heart failure, valve disease, etc.
Conservative estimate for Medicare echocardiogram volume: at least 12-14 million per year.
Step 3: The Rest of the Population (Under 65)
- The U.S. population is ~330 million.
- Subtract the 60 million on Medicare = ~270 million non-Medicare people.
- Even if only a small % of those people (e.g., 2-3%) get an echocardiogram each year, that’s another 5-8 million echocardiograms from privately insured, uninsured, Medicaid, and VA patients.
Step 4: Inpatient, Emergency & Repeat Studies
- Many echocardiograms are performed in hospitals for acute issues (chest pain, heart failure exacerbation, post-surgery monitoring).
- This inpatient/emergency volume could easily add another 5-7 million.
Total Addressable Echocardiogram Market (All Types, All Settings)
| Source | Estimated Annual Volume |
|---|
| Medicare (outpatient + inpatient) | 12-14 million |
| Non-Medicare (outpatient + inpatient) | 5-8 million |
| Inpatient (across all payers) | 5-7 million |
| Total Estimated Market | ✅ 22-29 million echocardiograms per year in the U.S. |
Takeaway:
✅ The true addressable market is almost certainly much larger than 7.1 million.
✅ A realistic working figure for total U.S. echocardiograms (all payers, all types, all settings) is around 22 to 29 million per year.
✅ If you’re targeting tools like AI to assist with diagnosing aortic stenosis or heart failure, this entire pool is relevant — because any of these echocardiograms could be used to detect those conditions."
(20min delay)