Overview

Ultrasound market Introduction

Ultrasound market is estimated to value over USD 8 billion and register a CAGR of over 4.9% from the forecast period 2020-2027.

Increasing prevalence of infectious and chronic diseases such as cancer and cardiovascular diseases are the major factors propelling the market. Increasing demand for non-invasive and invasive diagnostic procedures alongside rising geriatric population worldwide has boosted the market. Technological advancements and rising cases of injuries on joints, muscles and tendons is fueling the growth of the market. Growing adoption of high-efficiency imaging products and rapid expansion of hospitals is bolstering the market as well.

The market is bifurcated into technology, device display, system portability, application, end-user, and region. Based on technology, diagnostic ultrasound is expected to dominate the market growth. Diagnostic ultrasound consists of 2D, 3D, 4D, and Doppler ultrasound. A rise in demand for 2D ultrasound owing to technological advancements and favorable medical reimbursements has positively influenced the market. The emergence of a large number of growing applications of ultrasound techniques is boosting the market further.

In terms of system, portability trolley/cart-based is expected to hold a significant share of the market. Rising adoption of trolleys in emergency care in hospitals and acute care settings is stimulating the market.

Based on application, radiology is expected to dictate the market growth owing to technological advancements and rising cases of cancer globally. In addition, increasing adoption of tissue biopsy and ultrasound cancer diagnosis is driving the market.

In terms of end-user, hospitals, diagnostic centers, and surgical centers are expected to witness significant growth owing to the growing number of hospitals worldwide. The rise in the number of ultrasound-based and minimally invasive procedures is boosting the market. The rapid expansion of hospitals in developed economies alongside favorable government initiatives is fueling the growth of the market as well.

Based on the region, North America is the global leader of the market. Easy accessibility, high adoption of advanced diagnostic equipment and rising healthcare expenditure in countries like Canada and the US are stimulating the market in the region. Europe is expected to show significant growth, owing to increasing research projects in the field of ultrasound, which strengthens the market position in the region. The significant healthcare expenditure in countries such as France, Germany, Italy, Spain, and the UK is bolstering the market.

Prominent players of the market are Fujifilm Holdings Corporation, Shimadzu Corporation, Chison Medical Imaging, Hologic, Carestream, Mobisante, Mindray Medical International Ltd, Hitachi, Siemens AG, Philips, Samsung Electronics, GE Healthcare, Canon Medical Systems Corporation, Analogic Corporation and Esaote Spa.

Competitive Landscape:

Hologic, in 2018 decided to collaborate with Clarius in order to bolster its handheld and wireless ultrasound scanner in North America
Canon Medical Systems acquired the healthcare unit of Toshiba Corporation in order to expand its healthcare business worldwide

Ultrasound Market

Ultrasound Market Segmentation :

By Technology

Diagnostic Ultrasound
2D Ultrasound
3D and 4D Ultrasound
Doppler Ultrasound
Therapeutic Ultrasound
Shockwave Lithotripsy
Focused Ultrasound

By Display

Colour Ultrasound
Black and White (B/W) Ultrasound

By System Portability

Trolley/Cart-based Ultrasound Systems
Compact/Handheld Ultrasound Systems
Point-of-Care Ultrasound Systems

By Application

Radiology/General Imaging
Cardiology Applications
Obstetrics/Gynecology
Vascular Applications
Urological Applications
Orthopedic and Musculoskeletal Applications
Pain Management Applications

By End-User

Hospitals, Surgical Centers and Diagnostic Centers
Maternity Centers
Ambulatory Care Centers
Research and Academia

By Region

North America
Europe
Asia Pacific
Latin America
Rest of the World

FutureWise Key Takeaways

Growth Prospects
SWOT Analysis
Key Trends
Key data-points affecting market growth

Objectives of the Study:

To provide with an exhaustive analysis on the ultrasound market by technology, by display, by system portability, by application, by end-users, and by region
To cater to comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
To evaluate and forecast micro-markets and the overall market
To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America and rest of the world
To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers, and expansions
Profiling of companies to evaluate their market shares, strategies, financial and core
competencies.

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