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The Global Ultrasound Devices Market Size Will Grow At A CAGR Of 4.7% To 2023

Ultrasound Devices Market - Opportunities And Strategies – Forecast To 2023

Ultrasound Devices Market - Opportunities And Strategies – Global Forecast To 2023

The Business Research Company’s Ultrasound Devices Market - Opportunities And Strategies – Global Forecast To 2023

LONDON, GREATER LONDON, UK, November 17, 2020 / -- The global ultrasound devices market size reached a value of nearly $9,689.8 million in 2019, having increased at a compound annual growth rate (CAGR) of 3.2% since 2015. The global ultrasound devices market is expected to grow at a CAGR of 4.7% to nearly $11,648.2 million by 2023.

The continually increasing incidences of chronic diseases are expected to lead to an increase in the number of patients who will require advanced diagnostic and treatment options. Emerging markets will be affected the most as population growth is anticipated to be significant in developing nations, especially in India and China, thus increasing the healthcare expenditure in these countries. Advances in precise detection and diagnosis of diseases will also help contain the costs of treating chronic conditions. According to the World Health Organization, global chronic disease prevalence is expected to rise by 57% by 2020, with obesity rates and cases of diseases such as diabetes rising rapidly, which will drive the demand for ultrasound devices to diagnose patients. The earlier diagnosis for patients using ultrasound devices also helps reducing the overall healthcare expenditure. An expected increase in the number of patients with chronic diseases will drive the use of ultrasound devices and fuel the growth of the medical ultrasound devices market share.

Ultrasound market trends suggest that companies manufacturing ultrasound machines are streamlining their workflow process to become more productive by increasing patient throughput without compromising on quality, and are offering features such as faster processing times, reduced dropdown menus and keystrokes, and automation of measurements. For instance, in 2018, in the U.S, Canon Medical Systems, for enhancing its ultrasound devices workflow, released Aplio 900 CV system. It was designed for simplifying the workflow with 40% fewer keys and is lighter than the previous Toshiba echo systems by 50%. Also, in 2018, Samsung Electronics, for enhancing its ultrasound devices workflow, released RS85 ultrasound system. It was designed for simplifying the workflow by eliminating too many multi-step activities to reduce keystrokes and repetitive user interactions.

Ultrasound machines manufacturers are increasingly integrating artificial intelligence (AI), offering advantages such as speeding workflows by automating time-consuming activities and picking up the ideal image. For instance, in 2019, in the U.S, Konica Minolta integrated artificial intelligence (AI) functionality in its ultrasound system Sonimage HS1. The system uses artificial intelligence voice recognition controls, enabling hands-free operation during musculoskeletal interventional procedures. The system has the capability of controlling device functions through simple voice commands, bringing new levels of accessibility.

The ultrasound market segmentation by type of product includes stationary ultrasound devices, mobile ultrasound devices, and handheld ultrasound devices. The ultrasound market is also segmented by end-use application into cardiovascular, obstetric/gynecological, gastro, musculoskeletal, and point of care.

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Portable Ultrasound Devices Market - By Segments (Mobile Ultrasound Devices And Handheld Ultrasound Devices), By End User ( Cardiovascular, Obstetrics / Gynecology, Gastro, Musculoskeletal And Point Of Care / Others), And By Region, Opportunities And Strategies – Global Forecast To 2022

Ultrasound Devices And Equipment Global Market Report 2020

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