Ultrasound Devices Market - Snapshot

Ultrasound devices are utilized as both diagnostic imaging and therapeutic modality, and have wide range of applications in the medical field. The introduction of 4D ultrasound imaging has revolutionized the imaging industry in the last few years and has proven to be efficient in diagnosing cancer and other complex diseases. Additionally, this technology is proving its efficiency in imaging, while performing complex surgeries. The global ultrasound devices market was valued at US$ 6.5 Bn in 2017. It is anticipated to expand at a CAGR of 5.6% from 2018 to 2026. The diagnostic ultrasound segment dominates the global market. Rising prevalence of chronic diseases, technological advancements, increasing patient awareness and health care expenditure, and rising need for treatment of complex diseases are major factors driving the market. Considerable expansion of the therapeutic ultrasound segment is driven by significant expansion of the extracorporeal shockwave lithotripsy sub-segment, which is due to the increasing need for effective treatment for kidney stone. The highly fragmented nature of the ultrasound devices market has prompted market players to shift focus toward relatively niche segments such as portable ultrasound devices.

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The global ultrasound devices market has been segmented based on technology, portability, application, end-user, and region. In terms of technology, the global market has been bifurcated into diagnostic ultrasound and therapeutic ultrasound. The diagnostic ultrasound segment has been further sub-segmented into 2D ultrasound, 3D & 4D ultrasound, and Doppler ultrasound. The therapeutic ultrasound segment has been further segregated into high-intensity focused ultrasound and extracorporeal shockwave lithotripsy. According to a research paper published on NCBI (National Center for Biotechnology Information), in May 2017, kidney stones are highly common in Germany, 1% to 2% of the population suffers from kidney stones each year. Estimates for the U.S. indicate that 7% of women and 13% of men are diagnosed with kidney stones at least once during their lives. Based on portability, the global ultrasound devices market has been classified into trolley/cart-based ultrasound devices and compact/handheld ultrasound devices. Compact/handheld ultrasound devices are gaining popularity, and the segment is projected to rise at a radically higher CAGR during the forecast period. Based on application, the global ultrasound devices market has been split into radiology/general imaging, cardiology, gynecology, vascular, urology, and others. The radiology/general segment is likely to hold a major share of the global market due to rising incidences of targeted diseases across various regions, increasing prevalence of orthopedic diseases, and ongoing technological advancements. In terms of end-user, the global ultrasound devices market has been divided into hospital & surgical centers, diagnostic centers, ambulatory surgical centers, and others. Expansion of the diagnostic centers segment can be attributed to the increase in prevalence of various chronic diseases.

In terms of region, Europe dominated the global ultrasound devices market in 2017, owing to a highly developed health care sector, increase in awareness among health care providers about ultrasound devices, and continuous evolution of advanced ultrasound products. North America is also an attractive market, in term of revenue. Rise in government initiatives and laws and increase in population drive the ultrasound devices market in the region. Increase in awareness about diagnostic and therapeutic ultrasound in the health care sector in developing countries augments the market in North America. Technological advancements and increase in adoption of advanced ultrasound devices are expected to propel the ultrasound devices market in Asia Pacific, Latin America, and Middle East & Africa during the forecast period.

Key players operating in the global ultrasound devices market include GE Healthcare, Koninklijke Philips N.V., Canon Medical Systems Corporation, Hitachi, Ltd., Siemens Healthineers, Mindray Medical International Limited, Samsung Medison Co., Ltd., Fujifilm Holdings Corporation, Esaote SpA, and Analogic Corporation.

Ultrasound Devices Market - Overview

The market for ultrasound devices is expanding significantly, due to increase in advancements in treating complex diseases. Ultrasound devices are used as both diagnostic imaging and therapeutic modality, and have wide range of applications in the medical field. The diagnostic ultrasound segment is anticipated to expand during the forecast period, as the products have provided a promising solution for rapid diagnosis of disease. These products offer superior solution than other imagine products, by offering desired outcome and effectiveness in diagnosing. Increasing incidences of chronic diseases has fueled the demand for products that offer rapid and efficient healing. Thus, a majority of hospitals have shifted their preferences toward advanced products. They help decrease the average length of stay in hospitals through early recovery from disease. This, in turn, helps reduce surgical costs, due to decreased length of hospital stay. Therefore, rising need and demand for advanced products that increase therapeutic outcome drives the ultrasound devices market.

The global ultrasound devices market has been extensively analyzed based on technology, portability, application, end-user, and region. In terms of technology, the market has been bifurcated into diagnostic ultrasound and therapeutic ultrasound. The diagnostic ultrasound segment has been further sub-segmented into 2D ultrasound, 3D & 4D ultrasound, and Doppler ultrasound. The therapeutic ultrasound segment has been further segregated into high-intensity focused ultrasound and extracorporeal shockwave lithotripsy. Based on portability, the global ultrasound devices market has been classified into trolley/cart-based ultrasound devices and compact/handheld ultrasound devices. Based on application, the global ultrasound devices market has been segmented into radiology/general imaging, cardiology, gynecology, vascular, urology, and others. In terms of end-user, the global ultrasound devices market has been divided into hospital & surgical centers, diagnostic centers, ambulatory surgical centers, and others. Each of the segments has been analyzed in detail for market trends, recent developments, outlook, and opportunities. The report provides current and future market size for each segment and sub-segment for the period from 2018 to 2026, in terms of revenue in US$ Mn, considering 2016 and 2017 as the base years. The compound annual growth rate (%CAGR) for each market segment has been provided for the forecast period from 2018 to 2026 along with the estimations of market size.

In terms of region, the global ultrasound devices market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions have been further sub-segmented into major countries and sub-regions. The current and future market sizes in terms of revenue (US$ Mn) of these regional markets and their major countries have been provided in the report for the period from 2016 to 2026, with their growth rate (%) for the period from 2018 to 2026. The study also offers a list of recommendations and highlights of the market for new companies willing to enter the market and for existing companies to increase market shares, which is likely to help in the decision-making process.

The market overview section of the report demonstrates the market dynamics and market trends such as drivers, restraints, opportunities, and key trends that influence the current and future status of the ultrasound devices industry. The report also covers market attractiveness analysis and key market share analysis in the market overview section in order to provide a thorough analysis of the overall competitive scenario in the global ultrasound devices market.

The report concludes with the company profiles section that includes key information about the major players in the market. Key players profiled in this report include GE Healthcare, Koninklijke Philips N.V., Canon Medical Systems Corporation, Hitachi, Ltd., Siemens Healthineers, Mindray Medical International Limited, Samsung Medison Co., Ltd., Fujifilm Holdings Corporation, Esaote SpA, and Analogic Corporation. Each of these players has been profiled in the report considering parameters such as company overview, financial overview, business strategies, product portfolio, and recent developments.

The global ultrasound devices market has been segmented as follows:

  • Global Ultrasound Devices Market, by Technology
    • Diagnostic Ultrasound
      • 2D Ultrasound
      • 3D & 4D Ultrasound
      • Doppler Ultrasound
    • Therapeutic Ultrasound
      • High-intensity Focused Ultrasound
      • Extracorporeal Shockwave Lithotripsy
  • Global Ultrasound Devices Market, by Portability
    • Trolley/Cart-Based Ultrasound Devices
    • Compact/Handheld Ultrasound Devices
  • Global Ultrasound Devices Market, by Application
    • Radiology/General Imaging
    • Cardiology
    • Gynecology
    • Vascular
    • Urology
    • Others
  • Global Ultrasound Devices Market, by End-user
    • Hospital & Surgical Centers
    • Diagnostic Centers
    • Ambulatory Surgical Centers
    • Others
  • Global Ultrasound Devices Market, by Region
    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • Australia & New Zealand
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Middle East & Africa
      • GCC Countries
      • South Africa
      • Rest of Middle East & Africa
.