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At 6.0% CAGR, Ultrasound Devices Market Expected to Grow USD 9.50 Bn by 2021

(January 19, 2018)

Sarasota, FL, Jan. 19, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Ultrasound Devices Market by Technology (Doppler Ultrasound Imaging, High Intensity Focused Ultrasound (HIFU), 2-D Ultrasound Imaging, 3-D and 4-D Ultrasound Imaging, and Lithotripsy Ultrasound Imaging) Market for Cardiovascular, Obstetrics and Gynecology, Gastroenterology, Radiology,  and Other Application: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 - 2021”. According to the report, global ultrasound devices market was valued at around USD 6.80 billion in 2015 and is expected to generate revenue of approximately USD 9.50 billion by end of 2021, growing at a CAGR of around 6.0% between 2016 and 2021. 

Ultrasound devices are typically used for imaging in the healthcare industry; it helps to picture the internal organs of the body. In particular, it is used to assist or guide interventional procedures in growing. It is free of radiation risk, portable, and relatively inexpensive when compared with other imaging modalities, such as magnetic resonance and computed tomography.

Browse through 30 Tables & 27 Figures spread over 110 Pages and in-depth TOC on "Global Ultrasound Devices Market: By Technology, Devices, Application, Size, Share, Industry Segments and Forecast 2015-2021”.

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Global ultrasound devices market is primarily driven by increasing demand for minimally invasive surgeries coupled along with increasing prevalence of chronic disorders such as cancer, heart disease, etc. Other major driving factors for increasing demand are a large number of technological advancements (such as 3D & 4D imaging) in ultrasound systems and favorable rules and regulations. However, lack of experienced and trained sonographers is major restraint that may limit the growth of the market. Nonetheless, growth in emerging economies is likely to disclose the new avenues for ultrasound devices market in the near future.

The ultrasound devices market is segmented on the basis of different technologies including Doppler ultrasound imaging, High-Intensity Focused Ultrasound (HIFU), 2-d ultrasound imaging, 3-D and 4-D ultrasound imaging, and lithotripsy ultrasound imaging. In 2015, 3-D and 4-D ultrasound imaging was the largest segment in ultrasound devices market and accounted for the largest revenue share of the total market. Additionally, it is expected to continue its dominance and be the fastest growing segment of the global market over the forecast period.  3-D and 4-D ultrasound imaging segment is expected to witness the fastest growth as they are technologically superior.

Browse the full "Ultrasound Devices Market by Technology (Doppler Ultrasound Imaging, High Intensity Focused Ultrasound (HIFU), 2-D Ultrasound Imaging, 3-D and 4-D Ultrasound Imaging, and Lithotripsy Ultrasound Imaging) Market for Cardiovascular, Obstetrics and Gynecology, Gastroenterology, Radiology,  and Other Application: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021" report at https://www.zionmarketresearch.com/report/ultrasound-devices-market

Cardiovascular, obstetrics and gynecology, gastroenterology, radiology, and others are the key application segment of the global ultrasound devices market. The radiology application segment dominated the market in terms of revenue while obstetrics and gynecology segment is another major segment of global ultrasound devices market. 

Europe represents developed regional markets for ultrasound devices and is expected to see the stable growth through the next few years. Europe held more than 30% share of global ultrasound devices market in 2015. Shift towards other imaging technologies such as PET/MRI, PET/CT, and upright MRI machines are expected to hamper ultrasound devices market in this region.

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The Asia Pacific was the second largest market for ultrasound devices in 2015.  Increase in a number of elderly population in this region is expected to drive ultrasound devices market. The Asia Pacific is another leading regional market and is expected to be the fastest regional segment for the ultrasound devices market within the forecast period. In Asia, China and India will continue to be the fastest growing markets in ultrasound devices market. This is due to the presence of high unmet medical needs and constantly improving healthcare infrastructure to cure chronic disorders in these nations. China will continue to be the world’s fastest-growing market for ultrasound devices. This has resulted in several market players to invest in Asia Pacific countries, which could contribute to the growth.

Growth in North America is expected to be hampered due to advancement in imaging technology and increasing preference towards PET/MRI, PET/CT, and upright MRI machines

Latin America regional market is expected to grow at a noticeable market share in the global ultrasound devices market. As a result of increasing aging population and increasing health awareness in Brazil, the ultrasound devices market is expected to grow at a noticeable growth rate during the forecast period.  Middle East & Africa is expected to grow at a moderate growth rate during the forecast period.

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Some of the key players in ultrasound devices market include Philips Healthcare, Siemens Healthcare, Analogic Corporation, Esaote S.p.A., Samsung Medison Co. Ltd., Hitachi Medical Corporation, Toshiba Corporation, Mindray Medical International Limited, GE Healthcare, and Fujifilm Holdings Corporation among others.

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This report segments the global ultrasound devices market as follows:

Global Ultrasound devices Market: Technology Segment Analysis

  • Doppler Ultrasound Imaging
  • High Intensity Focused Ultrasound (HIFU)
  • 2-D Ultrasound Imaging
  • 3-D and 4-D Ultrasound Imaging
  • Lithotripsy Ultrasound Imaging

Global Ultrasound devices Market: Application Segment Analysis

  • Cardiovascular
  • Obstetrics and Gynecology
  • Gastroenterology
  • Radiology
  • Others

Global Ultrasound Devices Market: Regional Segment Analysis

  • North America
    • U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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