Press release
Ultrasound Market Study with data tracker, emerging trends, opportunities and forecast by 2031| Growth Plus Reports
According to the deep-dive market assessment study conducted by Growth+Reports, the global ultrasound market was pegged at ~US$ 5.85 billion in 2020. The market is expected to witness a CAGR of ~5.7 % from 2021 to 2031.Technological advancements and new product launches are some of the key factors fueling the growth of the market. Moreover, the introduction of AI in ultrasound systems and increasing patient preference for minimally invasive diagnostic procedures are some of the other factors driving the ultrasound market. However, product recalls and the dearth of skilled professionals are likely to restrain market growth to a certain extent.
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Increasing public-private funds and grants for R&D for the development of advanced innovative ultrasound devices is playing a significant role in boosting market growth. For instance, in Feb 2020, Germany's Ministry of Health-funded researchers from Germany to create an app that guides at-home ultrasound scans for pregnant patients.
The app is part of a 2.5-year project that will help digitize maternal health in Germany. The project was provided funding of US$3.5 million (3.2 million euros) to pay for a 500-person clinical trial with obstetrics/gynecology patients. Similarly, in Aug 2020, Exo, a company developing handheld ultrasound devices, received US$40 million in new funding from GlaxoSmithKline (GSK). Such initiatives are encouraging researchers to study and develop innovative ultrasound devices.
Rising patient preference for minimally invasive diagnostic procedures and increasing application of ultrasound in disease diagnosis and therapy are triggering the growth of the ultrasound market.
Medical imaging such as ultrasound helps the doctor diagnose and plan the therapeutic procedure more accurately. Ultrasound is also used extensively in interventional radiology, such as for guiding biopsy procedures and to aid in fluid management. The major advantages of ultrasound are its real-time nature and it can be done at a lower cost compared to other imaging modalities.
Nowadays, researchers are focusing on developing technologies that create ease of use for healthcare professionals as well as improve patients’ outcomes. Recent advancements in Artificial Intelligence (AI) have made it possible to integrate
AI in medical imaging techniques including ultrasound. AI has helped in transforming the market as it helps to address the limitations associated with ultrasound. AI-based medical imaging guides ultrasound users with basic scanning skills to produce a precise diagnosis. AI in ultrasound helps improve efficiency issues such as enabling patient scheduling, reliable curation of data, patient outcome prediction based on the medical history, among others.
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Here are some key differentiators that make our reports stand out.
•Focused on field insights via expert interviews - Like most in the industry, our reports are not just based on desk research insights. As part of our approach, all reports are validated via expert phone/online interviews with relevant respondents.
•Access to GRG Health’s global healthcare professionals and KOL panel - Our parent company GRG Health has a vast network of 80,000+ healthcare professionals. The whole network is available to us to validate market information and to also onboard KOLs for custom consulting. This upgrades the quality of our reports on many levels.
•Focused on healthcare only. Deepest Domain Understanding - Healthcare markets are the only insights we understand and hence we understand that pretty well. Our focused approach gives us the credibility of the specialists. 100% team with a strong background in biotechnology and biosciences
•Most Innovative Healthcare Market Research Company By CEO Magazine - We were awarded by the prestigious CEO Magazine as “Most Innovative Healthcare Market Research Company in 2020” for our work on opportunities for life sciences companies in a post COVID environment across APAC
•Multilingual Team (18+ Languages) - Our team speaks 18+ international languages from our delivery centers in India and Singapore. Our research also covers insights in native languages which boost the quality of the reports.
•Last Point Customization and Booster Insights - Our unique after-sales service includes the possibility of customizing any report in sync with your internal business requirements. We offer customization to the last KIQs of the report. Booster Insights are also offered where the clients can connect to our network of industry professionals for telephone consulting on the report
Table of contents:
INTRODUCTION
o Market Ecosystem
o Geographic Scope
o Timeline Under Consideration
Historical Years – 2018 & 2019
Base Year – 2020
Forecasted Years – 2021 to 2031
o Currency Used in the Report
• RESEARCH METHODOLOGY
o Research Approach
o Data Collection Methodology
o Data Sources
Secondary Sources
Primary Sources
o Market Estimation Approach
Bottom Up
Top Down
o Market Forecasting Model
o Limitations and Assumptions
• PREMIUM INSIGHTS
o Current Market Trend (COVID-19 Perspective)
o Key Players & Their Competitive Positioning (2020)
• MARKET DYNAMICS
o Drivers
o Restraints
o Opportunities
• GLOBAL ULTRASOUND MARKET - ANALYSIS & FORECAST, BY TECHNOLOGY
o Diagnostic Ultrasound
2D Ultrasound
3D & 4D Ultrasound
Doppler Ultrasound
o Therapeutic Ultrasound
High-Intensity Focused Ultrasound (HIFU)
Extracorporeal Shockwave Lithotripsy (ESWL)
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Manan Sethi
Director, Market Insights
Email: enquire@growthplusreports.com
Phone no: +91 96545 76783
Web: https://growthplusreports.com/
Growth+Reports is part of GRG Health, a global healthcare knowledge service company. We are proud members of EPhMRA (European Pharmaceutical Marketing Research Association).
Growth+ portfolio of services draws on our core capabilities of secondary & primary research, market modelling & forecasting, benchmarking, analysis and strategy formulation to help clients create scalable, ground-breaking solutions that prepare them for future growth and success.
We were awarded by the prestigious CEO Magazine as "Most Innovative Healthcare Market Research Company in 2020.
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