Ultrasound Devices Market Size, Share & Analysis | Industry Report 2024

The global ultrasound devices market was valued at $6.8 bn in 2016 and is forecast to grow at a modest 5.6% CAGR between 2017 and 2024, culminating in 2024 global sales of $10.6 bn.

The global ultrasound devices market is witnessing lucrative growth due to several factors such as technological advancements, growing disease prevalence, increasing healthcare investment, the growing thrust for breast cancer screening is expected to boost the usage of 3D/4D ultrasound, shockwave lithotripsy ultrasound, and other therapeutic devices

Ultrasound imaging is widely used during pregnancy for fetal assessment, to assess the condition of internal organs, muscles, joints, and tendons. The demand for these devices is growing due to the increase in population, and increasing number of diagnostic facilities across the emerging nations and the growing usage of advanced imaging as an addition to mammography tests.

The rise in the number of breast cancer cases is a key factor propelling the usage rate. In the U.S., as per the National Institute of Health (NIH) in 2017, there will be 252,710 new breast cancer cases, and nearly 40,610 people are expected to die due to the condition. Furthermore, as per the Cancer Research UK Foundation, there are an estimated 55,222 breast cancer patients and nearly 11,433 patients are expected to die. The high unmet need for breast screening is anticipated to reinforce growth over the forecast period positively.

The key regions analyzed in the study include North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa. In 2016, Europe held the largest share, owing to the high disease burden, the presence of well-developed infrastructure, technological advancements, favorable policies for the preventive and routine screening of various diseases.

By 2024, Asia Pacific is expected to be the fastest growing region due to increasing medical tourism in India, Singapore, Thailand and others. The high fertility rate, growing population with high disease burden, and growing number of hospitals and diagnostic centers are anticipated to drive the industry growth over the forecast period.

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Key findings from the study: -
• Ultrasound imaging is widely used during pregnancy for fetal assessment, to assess the condition of internal organs, muscles, joints, and tendons.

• The prices for the ultrasound devices vary in different regions due to the macroeconomic factors such as political and regulatory policy, access to healthcare facilities, reimbursement factors, technological advancements and access to key resources.

• The advanced products such as 3D, 4D ultrasound are widely used for fetal imaging and breast imaging and therefore, this segment is expected to retain its dominance over the forecast period.

Ameri Research has segmented the Ultrasound Devices Market by product type, Portability and End-Use.

Market Segmentation:

Ultrasound Devices Market by Product (Revenue, USD Million, 20124- 2024)
• Diagnostic Ultrasound Devices
• Therapeutic Ultrasound Devices

Ultrasound Devices by Portability (Revenue, Million, 2014 – 2024)
• Cart/Trolley Based Devices
• Hand-Held Devices

Ultrasound Devices by End-Use (Revenue, USD Million, 2014 – 2024)
• Hospitals
• Diagnostic Centers
• Others

Ultrasound Devices Regional Outlook (Revenue, USD Million, 20124- 2024)
• North America
o U.S.
o Canada

• Europe
o UK
o Germany
o France
o Italy
o Spain

• Asia Pacific
o Japan
o China
o India
o Australia

• Latin America
o Brazil
o Mexico
o Columbia

• Middle East and Africa
o South Africa
o Saudi Arabia

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