Zion Market Research has published a new report titled “Ultrasound Market (Cart/Trolley Based Ultrasound Devices and Compact Ultrasound Devices) By Technology, (2D, 3D, 4D Doppler and Other), By Application (Radiology, Cardiology, Urology, Gastroenterology, Gynecology and Others) – Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021”. According to the report, global demand for ultrasound market was valued at USD 5.20 billion in 2015, is expected to reach USD 6.90 billion in 2021 and is anticipated to grow at a CAGR of around 5.5% between 2016 and 2021.
Ultrasound is a kind of imaging process utilized to examine internal body organs. The machine transmits high-frequency sound waves, which reflect off body structures. A computer gets the waves and uses them to make a high-quality image of body parts, which makes it an excellent diagnostic technique. During pregnancy, doctors use ultrasound to see the fetal growth. Unlike CT scan and X-Ray, this test does not use ionizing radiation. An ultrasound inspection could be done for several reasons such as for diagnosis of disease, examination of abdominal or other body organs and assessment of any breast lump and among others.
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Ultrasound technology is expected to improve in the forthcoming years. Increasing demand for ultrasonic devices worldwide is anticipated the growth of the market. Technical advancement in the ultrasound machine and novel technologies expected to boost market demand in near future. However, expensive procedures and unfavorable healthcare amendments in regulations are major factors restraining the market growth during the coming years.
The ultrasound market is segmented on the basis of product, technology, application and region. The product type segment for the ultrasound market includes cart/trolley based ultrasound devices and compact ultrasound devices. Among all, cart/trolley based ultrasound devices were the largest product segments that accounted for a significant share of global ultrasound market in 2015 and are expected to be the fastest growing segment for the coming years. A compact ultrasound device has been recognized as the highest emerging segment during the forthcoming years, owing to technological improvement and high efficiency of the device.
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On the basis of technology, ultrasound market is segmented into 2D ultrasound, 3D ultrasound, 4D ultrasound, doppler and other ultrasound technology. Based on technology 3D and 4D ultrasound dominated the market and acquired around 40% of the overall market share in 2015. Radiology, cardiology, urology, gastroenterology, gynecology and others are the key application of the ultrasound market. Radiology segment is expected to expand at the fastest growth rate during the forecast period.
Geographically, ultrasound market is segmented into North America, Europe, Asia-Pacific, Latin America and the Middle East & Africa. Europe was the leading market in 2015 and is predictable to continue its dominance throughout the forecast period.North America is expected to exhibit productive growth by 2021 due fast innovations in technology and vast impending market. Among all regions, Asia Pacific region is one of the fastest growing regions for ultrasound market owing to increasing disposable income and growing awareness in rising economies such as India and China.
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Some of the key participants in ultrasound market are Siemens AG, GE Healthcare, Analogic Corporation, FUJIFILM Holdings Corporation, Mindray Medical International Ltd, EsaoteSpA, Hitachi Ltd, and among others.
The report segments the global Ultrasound Market as follows:
Ultrasound Market: Product Segment Analysis
- Cart/trolley based ultrasound devices
- Compact ultrasound devices
Ultrasound Market: Technology Segment Analysis
- 2D Ultrasound
- 3D Ultrasound
- 4D Ultrasound
Ultrasound Market: Application Segment Analysis
Ultrasound Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East & Africa
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