Ultrasound Device Market

Full text

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Surging

Prevalence of

Chronic Diseases Driving

Ultrasound Device

Market Globally

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From $6.0 billion in 2015, the global ultrasound device market revenue is predicted to surge to $8.7 billion by 2022. According to the estimates of the market research company, P&S Intelligence, the market will progress at a CAGR of 5.5% from 2016 to 2022 (forecast period). The market is being driven by the mushrooming population of geriatric people, growing consumer preference for minimally invasive medical procedures, surging healthcare expenditure, and rising incidence of chronic diseases across the world. Besides, rapid

advancements and innovations in the ultrasound technology are also predicted to propel the expansion of the market in the coming years.

The increasing preference for minimally invasive medical procedures is one of the major ultrasound device market growth drivers. Ultrasound devices are extensively used in minimally invasive diagnostic procedures to visualize organs and tissues of the body. Moreover, these devices are also heavily adopted in interventional radiology for fluid management. Fluid collection by tissue sampling and needle aspiration are some of the major ultrasound guided procedures. As minimally invasive procedures cause less pain and thus, eliminate the

requirement for long hospital stays, their popularity is surging sharply across the globe, which is positively impacting the demand for ultrasound devices.

Depending on portability, the ultrasound device market is divided into portable/handheld/compact and cart/trolley-based categories. Between these, the portable/compact/handheld category is predicted to contribute higher revenue to the market in the coming years. When application is taken into consideration, the market is categorized into general radiology/imaging,

obstetrics and gynecology, urology, vascular, and cardiology. Out of these, the general radiology/imaging category is holding the largest share in the market, and it is predicted to dominate the industry in the forthcoming years.

Whereas, the cardiology category is predicted to register the fastest growth in the market in the upcoming years. The market is also classified, on the basis of type, into therapeutic and diagnostic devices. Of these, the diagnostic devices category contributed higher revenue to the market in the years gone by.

However, the therapeutic category is predicted to be the faster-growing category in the upcoming years. Across the globe, Europe is predicted to hold the largest share in the market in the years to come.

This is ascribed to the growing consumer preference for minimally invasive procedures and surging number of product approvals in the region. In addition, the rising incidence of chronic illnesses is also supporting the expansion of the market in the region. Germany is expected to dominate the regional market during the forecast period, exhibiting a CAGR of 5.8% throughout the forecast period. The miniaturization of point-of-care devices is becoming a major trend in the industry, with portable and lighter devices rapidly replacing their bulky and heavier counterparts across the world.

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Moreover, healthcare centers are increasingly focusing on encouraging the adoption of lightweight and compact devices in order to offer point-of-care treatment to patients. Owing to this factor, manufacturers are actively focusing on developing portable devices to provide improved healthcare. Koninklijke Philips N.V., Analogic Corporation, Siemens AG, Mindray Medical International Ltd., Hitachi Ltd., FUJIFILM Holdings Corporation, Esaote SpA, Toshiba

Corporation, and General Electric Company are some of the major players operating in the ultrasound device market.

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Hence, it can be safely said that the sales of ultrasound devices will shoot up all over the world in the forthcoming years, primarily because of the rising

popularity of minimally invasive procedures and growing incidence of chronic diseases.

The research offers the actual historical market size for the period 2012 – 2015 and forecast for the period 2016 – 2022 of the global ultrasound device market in the U.S. dollars.

GLOBAL ULTRASOUND DEVICE MARKET

By Type

By Portability

By Technology

By Display

By Application

By Region

GLOBAL ULTRASOUN DEVICE MARKET, BY TYPE

Diagnostic Ultrasound Market

Therapeutic Ultrasound Market

GLOBAL ULTRASOUND DEVICE MARKET, BY PORTABILITY

Cart/Trolley Based Ultrasound Market

Portable/Hand Held/Compact Ultrasound Market GLOBAL ULTRASOUND DEVICE MARKET, BY DISPLAY

Black and White Ultrasound Market

Color Ultrasound Market

GLOBAL ULTRASOUND DEVICE MARKET, BY TECHNOLOGY

2D Ultrasound Market

Doppler Ultrasound Market

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3D and 4D Ultrasound Market

Extracorporeal Shockwave Lithotripsy (ESWL) Ultrasound Market

High-intensity focused Ultrasound (HIFU) Market GLOBAL ULTRASOUND DEVICE MARKET, BY APPLICATION

Cardiology Ultrasound Market

General Radiology/Imaging Ultrasound Market

Vascular Ultrasound Market

Urology Ultrasound Market

Obstetrics and Gynecology Ultrasound Market GLOBAL ULTRASOUN DEVICE MARKET, BY GEOGRAPHY

North America Ultrasound Device Market o By Type

o By Portability o By Display o By Application o By Technology

o By Country (U.S., Canada, and Rest of the World)

U.S. Ultrasound Device Market

By Type

By Portability

Canada Ultrasound Device Market

By Type

By Portability

Europe Ultrasound Device Market o By Type

o By Portability o By Display o By Application o By Technology

o By Country (Germany, U.K., France, Italy, Spain, and Rest of Europe)

Germany Ultrasound Device Market

By Type

By Portability

U.K. Ultrasound Device Market

By Type

By Portability

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France Ultrasound Device Market

By Type

By Portability

Asia-Pacific Ultrasound Device Market o By Type

o By Portability o By Display o By Application o Technology

o By Country (Japan, China, India, and Rest of Asia-Pacific)

China Ultrasound Device Market

By Type

By Portability

Japan Ultrasound Device Market

By Type

By Portability

India Ultrasound Device Market

By Type

By Portability

Rest of the World (RoW) Ultrasound Device Market o By Type

o By Portability o By Display o By Application o By Technology

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