Growth in chronic diseases, increasing investments by governments, and advancements in technology are driving the market for Ultrasound.
Market Size – USD 6.34 Billion in 2018, Market Growth - CAGR of 5.6%, Market Trends – Increasing prevalence of cancer.
The global Ultrasound Market is forecasted to reach USD 10.44 Billion by 2027, according to a new report by Reports and Data. Increase in the prevalence of chronic disease across the globe, coupled with rising population, has increased the demand for ultrasound market. The growing geriatric population is prone to diseases and fractures that affect the growth of the market positively.
The growing incidence of chronic diseases is increasing rapidly all across the globe. The prevalence of cancer has become a major concern for the healthcare sectors in the world. The demand for ultrasound imaging is expected to rise owing to high demand for early detection of diseases and minimization of the cost of treatments.
The government in Europe are focusing on supporting and promoting industrial research. It has provided several tax incentives to establish R&D units, with high technologically advanced ultrasound facilities. Increasing investment by the European government in its healthcare sector and goal to develop non-invasive and safe technologies to promote therapies of diseases, injuries, and other abnormalities are propelling the demand in the region.
Key companies profiled in the report include
Siemens AG, Esaote, Analogic Corporation, FUJIFILM Holdings Corporation, Samsung Electronics, General Electric Company, Carestream Health, Hologic, Canon Medical Systems Corporation, and Mobisante, Inc., among others.
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The report is an investigative study that determines market growth and market scope on the basis of market trends, consumer behavior shifts, consumption and production patterns, product portfolio offered by the market, growth rate, drivers and constraints, financial positions, and existing challenges and limitations of the Ultrasound market.
The report discusses in detail the global production capacity, demand and supply ratio, market dynamics, and comprehensive analysis of the competitive landscape. It provides an industry-wide analysis of the market share of each players along with their business portfolio, production and manufacturing capacity, product portfolio, business expansion plans, financial standing, and strategic alliances such as mergers and acquisitions, joint ventures, and collaborations, among others.
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The regional bifurcation of the market analyzes key market segments such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report discusses in detail the market growth, market size, revenue growth, market share, production and consumption, demand and supply, current and emerging trends, and technological developments in each region.
The key geographical regions analyzed in the market report are:
• North America (U.S.A., Canada)
• Europe (U.K., Italy, Germany, France, Rest of EU)
• AsiaPacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Ultrasound Market Segmentation based on Types:
Technology Outlook (Revenue, USD Billion; 2016-2027)
• Therapeutic Ultrasound
• Diagnostic Ultrasound
Type Outlook (Revenue, USD Billion; 2016-2027)
• Stationary Ultrasound
• Portable Ultrasound
Ultrasound Market Segmentation based on Application:
Applications Outlook (Revenue, USD Billion; 2016-2027)
• Cardiology Applications
• Vascular Applications
• Radiology/General Imaging Applications
• Urological Applications
• Pain Management Applications
• Orthopedic and Musculoskeletal Applications
End-Users Outlook (Revenue, USD Billion; 2016-2027)
• Ambulatory Care Centers
• Maternity Centers
• Hospitals and Diagnostic Centers
• Research and Academia
• Others
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Further key findings from the report suggest
• An increase in the birth rate in countries such as Russia and Germany will boost market demand in the coming years. Diagnostic ultrasound has the ability to detect anomalies in babies inside the womb.
• Doppler ultrasound uses high-frequency sound waves to measure the amount of blood flow in patient’s arteries and veins. It has a hand-held scanner connected to a computer. The procedure is non-invasive, painless, does not use radiation, and there are no risks known as of yet.
• Mobile devices are being rapidly adopted in the developing nations owing to the rising demand for ambulatory care. The demand for handheld ultrasound devices are high in the developed region, such as the U.S.; there is a rising demand for mobile ultrasound devices. The growing trend of ambulatory care is driving the demand for this device.
• Rising incidence of obesity, unhealthy food consumption, and stressed lifestyle increase the odds of a cardiac related issues. Increase in investment in healthcare and support via healthcare insurance from government are encouraging people to go for checkups and lead a healthy lifestyle.
• Hospitals dominated the market for ultrasound. Rise in minimally invasive surgical and diagnostic procedures and growing number of hospitals are propelling the segment demand. Large number of ultrasound procedures are done in the hospitals only.
• High growth of the market in North America is attributed to the growing prevalence of chronic ailments along with rising awareness among people related to early disease diagnosis. The availability of advanced technologies and healthcare facilities will surge the demand for the market product in the coming years.
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