Ultrasound Device Market to Witness Robust Growth in Coming Years

The global ultrasound device market is projected to advance at a considerable rate in the coming years, which is attributed to the surging geriatric population, rising healthcare cost, technological advancements in ultrasound devices, increasing prevalence of chronic and lifestyle associated diseases, and rising demand for minimally invasive diagnostic and therapeutic techniques. Ultrasound devices are utilized for therapeutic and diagnostic applications. In terms of display, the market is bifurcated into colored display and black and white display. The colored display is expected to account for the major share of the market in the near future.

On the basis of application, the ultrasound device market is categorized into urology, radiology/general imaging, vascular, cardiology, obstetrics & gynecology, and others. Among these, the general imaging category held the largest share of the market in the past and is projected to dominate the market in the coming years as well. The cardiology category is expected to witness the fastest growth in the near future because of the increasing geriatric population and rising incidence of cardiac diseases.

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The surging prevalence of chronic and lifestyle associated diseases, such as heart disease, diabetes, cancer, respiratory disease, and stroke, is among the major driving factors of the ultrasound device market. In 2012, about 117 million people in the U.S. were suffering from either one or more chronic health conditions, according to the Center for Disease Control and Prevention. In addition to this, cardiovascular diseases are the leading cause of premature death across the world. Attributed to these factors, various developments have taken place in the field of cardiac ultrasound for effective diagnosis and treatment.

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A key trend being observed in the ultrasound device market is the miniaturization and development of devices for point of care. The demand for point of care testing is rising because of the growing need for integrated and portable devices. Point of care testing aids in performing tests close to the patient and further provides immediate results. In addition, the miniaturization of ultrasound devices has risen because of their application in emergency care for speedy and accurate diagnosis. Miniaturized wearable ultrasonic diathermy device is used for therapeutic treatment.

Hence, the market is being driven by the growing prevalence of chronic and lifestyle associated diseases and increasing requirement for minimally invasive diagnostic and therapeutic techniques.

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