Ultrasound Devices Market is Expected to Grow at a CAGR over 8.1% From 2017 to 2023

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Ultrasound Devices Market Information by Application (Diagnostic and Therapeutic (High Intensity Focused Ultrasound (HIFU)), Clinical Application (Radiology), Product (Cart Based and Portable) and End User (Hospitals and Clinics and Ambulatory (Point of Care)) – Forecast to 2023

Market Overview:

Ultrasound devices use ultrasonic waves of high frequency for real time and noninvasive imaging of internal organs or removal of a tissue. The underlying mechanism of action is that different tissues reflect varying degrees of sound and these differences are recorded and displayed as an image. Therapeutic ultrasound devices use the heating or vibrating effects of ultrasound for stimulating, or removal of a tissue.

Ultrasound devices provide real-time, low costs images without the use of harmful ionizing radiation. The excellent safety profile of ultrasound devices are a major factor driving their market. Drawbacks of ultrasound include their low penetration of bones and their poor imaging of structures behind bone.

Product development remains the most successful strategy for the ultrasound device market. The technological developments include

  • Development of 3D & 4D imaging enabling detailed evaluation of fetal anatomy and morphology not possible by 2D imaging thereby increasing the detection rate of fetal defects like cleft lip, heart defects etc.
  • Doppler ultrasound allows estimation of blood flow through the blood vessels and helps diagnose many conditions, including blood clots and blocked blood vessels, valves defects and congenital heart disease etc.
  • Development of portable ultrasound devices is also driving the market as the point of care applications of ultrasound such as ambulatory care is growing
  • Development of high intensity focused ultrasound (HIFU) for the ablation of tissues such as cancer etc.

Other market driving factor are rise in the incidence of diseases such as cancer, rising demand for noninvasive and safe therapy, and innovative applications of ultrasound such as the latest experimental development of ultrasound device for cleaning the teeth.

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Global Ultrasound Devices Market:

The global ultrasound devices market has been evaluated as a growing market and it is expected that the market will touch high growth figures in future. The global Ultrasound Devices market is expected to grow with CAGR of 8.1% during the forecast period. The market for ultrasound favors companies with strong research skills and innovation.

Key Players:

The major participants of this market are: Siemens AG, Koninklijke Philips N.V., General Electric Company,), Samsung Electronics Co., Ltd.,  Hitachi Ltd., Toshiba Corporation, Shimadzu Corporation, Mindray Medical International Ltd., and Analogic Corporation and others.

Access the market data and market information presented through more than 25 market data tables and 25 figures spread over 84 numbers of pages of the project report “Global Ultrasound Devices Market – Forecast to 2023”

Regional Analysis:

Depending on geographic region, ultrasound devices market is segmented into four key regions: America, Europe, Asia Pacific, and Middle East & Africa. Globally, America is the largest market for Ultrasound Devices as there is a consistent technological advancement which has helped in early diagnosis of the osteoporosis which has projected high growth of ultrasound devices market in this region. Europe is the second-largest market for ultrasound devices. Asia pacific region is expected to be fastest growing region in ultrasound devices market due to increasing investments in the healthcare sector and increasing acceptance of these devices by the healthcare providers.

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Market Segmentation:

Global ultrasound devices market has been segmented on the basis of applications, which comprises diagnostic and therapeutic. On the basis of clinical application; market is segmented into radiology, obstetrics and gynecology, cardiac and others. On the basis of product; market is segmented into cart based and portable. On the basis of end user; market is segmented into hospitals/clinics and ambulatory.

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