In diagnosis, a procedure is performed under ultrasound guidance to visualize the tissues or organs by ultrasound. It is used in interventional radiology to guide biopsy and assist with fluid management. The demand for the diagnosis had increased the demand for the Diagnosis Ultrasound Device Market. The growing rate of chronic diseases around the world coupled with the healthcare expenditure is the major factors responsible for this market expansion.
Diagnostic Ultrasound Devices Market Size and Growth Rate:
Diagnostic Ultrasound Devices Market was valued at USD 5410 million in 2016 and is expected to grow at a CAGR of 0.81% to reach USD 6250 million by 2021.
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Diagnostic Ultrasound Devices Market Growth Drivers and Restraints:
The increase in the number of diagnostic procedures using ultrasound devices, the demand for minimally invasive therapies and increased awareness of early diagnosis of the disease are considered to be the major drivers of the ultrasound diagnostic device market.
Factors such as increased public and private investment, subsidies, and funds for the development of more advanced ultrasound devices create many opportunities.
Geographical Overview of Diagnostic Ultrasound Devices Market:
Japan is expected to be the largest market in Asia-Pacific due to increased medical care spending and increased geriatric population with chronic diseases.
In addition, the increasing prevalence of chronic and lifestyle-related diseases and the rising cost of medical care are also driving market growth. Among European countries, Germany is expected to be the largest market for ultrasound devices in 2022, with growth of 5.8% over the forecast period.
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Key Players of Diagnostic Ultrasound Devices Market:
Some of the leading market players of Diagnostic Ultrasound Devices Market are General Electric (GE), Philips, Siemens, TOSHIBA, Hitachi Medical, Mindray, Sonosite (FUJIFILM ), Esaote, Samsung Medison and others.
Diagnostic Ultrasound Devices Market Segmentation:
By Product Type:
- Obstetrics & Gynecology
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
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