Ultrasound devices uses ultrasound waves (high frequency sound waves from 20 kHz up to several gigahertz) for noninvasive imaging and therapeutic applications. Different tissues reflect varying degrees of sound and these differences are recorded and displayed as an image. Therapeutic ultrasound devices use focused or unfocused ultrasound for stimulating, or removal of a tissue.
The advantages of ultrasound include real-time imaging, low costs and safety as it does not use harmful ionizing radiation etc. Drawbacks of ultrasound include variability of results due to differing patient physique, difficulty imaging structures behind bone and air etc.
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The market for ultrasound devices is primarily driven by product development especially technological advancements such as
- Development of 3D & 4D imaging which provide detailed evaluation of fetal anatomy and morphology. These provide better visualization of fetal morphology not possible by 2D imaging thereby increasing the detection rate of fetal defects like cleft lip, heart defects etc. Moreover 4D imaging allows live videos of the motion of the fetus allowing greater detection of abnormalities.
- Replacement of black and white monitors with color monitors
- 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 also growing
Other market drivers include increase in prevalence of diseases such as cardiac diseases, cancer etc., growing demand for noninvasive therapies, and growing awareness for early disease detection.
The global market for ultrasound devices is expected to reach around USD 10.37 billion by the end of the forecast period and is expected to grow at a CAGR of 8.1% during the forecast period.
Global Ultrasound Devices Market Information, by Application (Diagnostic (Imaging, Doppler and Others) and Therapeutic (High Intensity Focused Ultrasound (HIFU), Extracorporeal shock wave lithotripsy (ESWL) and others), by Clinical Application (Radiology, Obstetrics and Gynecology, Cardiac and Others), by Product (Cart Based and Portable) and End User (Hospitals and Clinics and Ambulatory (Point of Care)) – Forecast to 2023
Study Objectives Global Ultrasound Devices Market:
- To provide detail analysis of the market structure along with forecast for the next 6 years of the various segments and sub-segments of the global ultrasound devices market
- To provide insights about factors affecting the market growth
- To analyze the market based on various factors- price analysis, supply chain analysis, porters five force analysis etc.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- Americas, Europe, Asia-Pacific, and Middle East & Africa.
- To provide country level analysis of the market with respect to the current market size and future prospective
- To provide country level analysis of the market for segments by application, clinical application, product and by end user and other sub segments.
- To provide overview of key players and their strategic profiling in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments globally.
Key Players for Global Ultrasound Devices Market:
Some of the key players in 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.
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.
Regional Analysis of Global Ultrasound Devices Market:
Globally America is the largest market for ultrasound devices. Rapid uptake of technology and excellent reimbursements scenario in the U.S. are the two most important factors for the dominance of America. Europe is the second-largest market for ultrasound devices. Asia pacific region is expected to be fastest growing region in ultrasound devices market.
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