Ultrasound devices market

Infinium Global Research

Ultrasound devices market is projected to reach approximately $11.2 billion by 2024 from $7.91 billion in 2017, with a CAGR of 5.20% over the forecast period.

PUNE, MAHARASHTRA, INDIA, September 27, 2019 /EINPresswire.com/ -- According to the new market research report "Ultrasound Devices Market (Technology - Diagnostic Ultrasound, and Therapeutic Ultrasound; Portability - Trolley/Cart-based Ultrasound Devices, and Compact/Handheld Ultrasound Devices; Application - Radiology/General Imaging, Cardiology, Gynecology, Vascular, Urology, and Other Application; End User - Hospital and Surgical Centers, Diagnostic Centers, Ambulatory Surgical Centers, and Other End Users): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025.” The ultrasound devices market is projected to reach approximately USD 11.2 billion by 2024 from USD 7.91 billion in 2017, with a CAGR of 5.20% over the forecast period.

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Increasing Diagnosis Rates All Over the World

Rising cases of chronic diseases are one of the major factors contributing to the growth of the market. Prevalence of chronic diseases such as cancer, brain disorders, and cardiovascular diseases has increased in the last decade, the detection of the diseases in such a situation becomes important to treat the patient with the right medicines, and here the ultrasound devices play an important role. Moreover, increasing diagnosis rates all over the world is another major factor contributing to the growth of the market, one of the common reasons for this is a rising rate of childbirth in developing countries.

Additionally, the rising number of routine medical checkups and an increasing number of detections for cancer tumors, abnormal tissue growth, kidney stones, and liver functioning are also contributing to the growth of the market. On the other hand, the high cost associated with the instruments and lack of trained technicians can hamper the growth of the market. However, rising awareness about chronic diseases and early diagnosis of the disease will provide better opportunities to the market.

Major Segments Cover in the Ultrasound Devices Market

Ultrasound devices market is segmented into technology, portability, application, and end-user. On the basis of technology, it includes diagnostic ultrasound and therapeutic ultrasound. On the basis of portability, the market consists of trolley/cart-based ultrasound devices and compact/handheld ultrasound devices. Based on application, it is sub-segmented into radiology/general imaging, cardiology, gynecology, vascular, urology, and other application. Further, the ultrasound devices market on the basis of end-user, include hospital and surgical centers, diagnostic centers, ambulatory surgical centers, and other end users.

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North America Holds the Largest Market Share

Geographically, the ultrasound devices market is segmented into North America, Europe, Asia-Pacific, and Row. North America accounted for the largest market share in the global market and is anticipated to stay on top in the forecast period. Rising funding from government and private sectors for the technological advancements of the ultrasonic devices, improved healthcare infrastructure and the presence of big market players are contributing to the growth of the market. The market in Europe is anticipated to grow at a significant rate in the forecast period. Asia Pacific region is expected to grow at a high CAGR during the forecast period. Growing awareness about early detection of disease, improving health care infrastructure and large patient pool are contributing to the growth of the market.

Competitive analysis

The Key players in the global ultrasound devices market are Fujifilm Sonosite, Inc., GE Healthcare, Hitachi Ltd, Fukuda Denshi, Shenzhen Mindray, Canon Medical Systems Corporation, Koninklijke Philips N.V., Samsung Medical, Siemens Healthineers, Mindray Medical International Limited, and others.

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Kishor
Infinium Global Research
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