Global Ultrasound Market is Predicted to Value Over 8 Billion by 2026 End

  • 15 Aug 2019

The global ultrasound market is estimated to value over 8 billion and register a CAGR of over 4.9% from the forecast period 2019-2026.

Increasing prevalence of infectious and chronic diseases such as cancer and cardiovascular diseases are the major factors propelling the ultrasound 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 ultrasound 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 and General Electric Company.

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

Global Ultrasound Market Segmentation

By Device 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 global ultrasound market by device 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

Get unlimited analyst support and customise this study further to your requirements, contact sales@futurewiseresearch.com