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Ultrasound Devices Market Segmentation, Industry Analysis, Size, Trends, Opportunities And Forecast Till 2030
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The global market for ultrasound devices reached a value of nearly $9,689.8 million in 2019, having increased at a compound annual growth rate (CAGR) of 3.2% since 2015. The market is expected to grow at a CAGR of 4.7% to nearly $11,648.2 million by 2023.
The key drivers of the ultrasound devices market include:
The continually increasing incidences of chronic diseases are expected to lead to an increase in the number of patients who will require advanced diagnostic and treatment options. Emerging markets will be affected the most as population growth is anticipated to be significant in developing nations, especially in India and China, thus increasing the healthcare expenditure in these countries. Advances in precise detection and diagnosis of diseases will also help contain the costs of treating chronic conditions.
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Ultrasound Devices Market Segmentation:-
By Type Of Product
1. Stationary Ultrasound Devices
2. Mobile Ultrasound Devices
3. Handheld Ultrasound Devices
The stationary ultrasound devices market was the largest segment of the ultrasound devices market in 2019 at 52.4%. The handheld ultrasound devices market is expected to be the fastest-growing segment going forward at a CAGR of 26.4%.
By End-Use Application
1. Cardiovascular
2. Obstetric/Gynecological
3. Gastro
4. Point Of Care
The point of care portable ultrasound devices market was the largest segment in 2019 at 41.0%. The market for point of care portable ultrasound devices is also expected to be the fastest-growing segment going forward at a CAGR of 21.4%.
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By Geography - The ultrasound devices market is segmented into
1.North America
2.Western Europe
3.Asia Pacific
4.Eastern Europe
5.South America
6.Middle East
7.Africa
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Some of the major key players involved in the ultrasound devices market are
1. General Electric Company
2. Koninklijke Philips N.V.
3. Siemens Healthineers AG
4. Canon Inc.
5. Hitachi, Ltd.
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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.
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