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Global Ultrasound Devices Market To Reach Us$ 10.6 Bn By 2026

02-05-2019 07:39 PM CET | Health & Medicine

Press release from: Transparency Market Research

Global Ultrasound Devices Market To Reach Us$ 10.6 Bn By 2026

Ultrasound Devices Market - Snapshot

Ultrasound devices are utilized as both diagnostic imaging and therapeutic modality, and have wide range of applications in the medical field. The introduction of 4D ultrasound imaging has revolutionized the imaging industry in the last few years and has proven to be efficient in diagnosing cancer and other complex diseases. Additionally, this technology is proving its efficiency in imaging, while performing complex surgeries. The global ultrasound devices market was valued at US$ 6.5 Bn in 2017. It is anticipated to expand at a CAGR of 5.6% from 2018 to 2026.

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The diagnostic ultrasound segment dominates the global market. Rising prevalence of chronic diseases, technological advancements, increasing patient awareness and health care expenditure, and rising need for treatment of complex diseases are major factors driving the market. Considerable expansion of the therapeutic ultrasound segment is driven by significant expansion of the extracorporeal shockwave lithotripsy sub-segment, which is due to the increasing need for effective treatment for kidney stone. The highly fragmented nature of the ultrasound devices market has prompted market players to shift focus toward relatively niche segments such as portable ultrasound devices.

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The global ultrasound devices market has been segmented based on technology, portability, application, end-user, and region. In terms of technology, the global market has been bifurcated into diagnostic ultrasound and therapeutic ultrasound. The diagnostic ultrasound segment has been further sub-segmented into 2D ultrasound, 3D & 4D ultrasound, and Doppler ultrasound. The therapeutic ultrasound segment has been further segregated into high-intensity focused ultrasound and extracorporeal shockwave lithotripsy. According to a research paper published on NCBI (National Center for Biotechnology Information), in May 2017, kidney stones are highly common in Germany, 1% to 2% of the population suffers from kidney stones each year.

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Estimates for the U.S. indicate that 7% of women and 13% of men are diagnosed with kidney stones at least once during their lives. Based on portability, the global ultrasound devices market has been classified into trolley/cart-based ultrasound devices and compact/handheld ultrasound devices. Compact/handheld ultrasound devices are gaining popularity, and the segment is projected to rise at a radically higher CAGR during the forecast period. Based on application, the global ultrasound devices market has been split into radiology/general imaging, cardiology, gynecology, vascular, urology, and others.

The radiology/general segment is likely to hold a major share of the global market due to rising incidences of targeted diseases across various regions, increasing prevalence of orthopedic diseases, and ongoing technological advancements. In terms of end-user, the global ultrasound devices market has been divided into hospital & surgical centers, diagnostic centers, ambulatory surgical centers, and others. Expansion of the diagnostic centers segment can be attributed to the increase in prevalence of various chronic diseases.

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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