Ultrasound Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2024

Ultrasound Market size is driven by the rising need for early detection of cancerous and benign tumors, growing aged population coupled with amplified prevalence of heart diseases. Augmented birth rate over the last few decades, growing need for visualizing fetus to assess its development, observing abnormal development of the face and limbs and blood flow in various organs will fuel the global industry size. According to CDC, approximately 3,978, 497 births where recorded in 2015. Availability of technical facilities as well as growing accessibility and use of medical technology will drive the industry size.

Ultrasound is an imaging system that uses high-frequency sound waves to deliver cross-sectional images of the body. Ultrasound defines sound of frequencies above 20 000 Hertz, which are outside the human hearing range. Diagnostic imaging relies on computerized examination of reflected ultrasound waves, which offers non-invasively build up images of inner body structures. Growing government initiatives for disease prevention coupled with rising public awareness towards health care will increase the number of imaging procedures performed. Furthermore, mounting trends in advanced ultrasound offing increased utilization and better patient outcomes will create enormous growth opportunities.

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However, movement of particles in fluid, adverse effects occur in tissue due to kinetic energy of ultrasound waves, direct mechanical mutilation to cells by acceleration, cavitation, and accumulation of particles or cells may hamper the industry growth. Lack of experienced and skilled technicians and proliferation of more complex system and technologies can restrain the business expansion in future.

Doppler ultrasound holds larger revenue share due to added advantages over other methods like diagnose discrepancies in the hemodynamics of the blood flow, high understanding of severe cardiovascular conditions and improved diagnostic accuracy. Growing awareness towards fetus and women’s health during pregnancy will boost the women’s health market share. Increasing number of abnormal neonatal birth and fetal deaths will fuel the ultrasound market growth.

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Color display will witness for major revenue share owing to quality images and effective diagnostic results. Portable system will grow at significant rate pertaining to growing system demand for practice in acute care environments like emergency room, ICU and operating room where transporting patients is sometimes hazardous.

Hospitals holds larger revenue share due to availability of advanced technologies for imaging, low cost of procedure and rising numbers of hospitals globally. Increasing prevalence of muscle and internal injuries coupled with mounting demand for non-invasive or minimal invasive diagnostic procedures will propel the business share.

U.S. will witness significant growth over the forecast period pertaining to availability of imaging technologies and developments in computer technology with real-time processing. Improved quality and high adoption rate of imaging equipment among end-users in the country will boost the ultrasound market size.

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UK will exhibit lucrative growth over the forecast period due to growing science and technology advancement of ultrasonic in applied medicine and rising initiatives to maintain the high standards in imaging fields. Mounting advancement of research and education systems, provision of information and advice concerning ultrasound to the public at large will fuel the industry share.

China ultrasound market will grow at a substantial rate due to emerging economy offering high growth opportunities for market players. Moreover, growing healthcare infrastructure expenditure and increase in awareness towards minimally invasive procedures are the vital factors driving the demand for imaging in developing countries.

Some of the industry players include Analogic, Esaote, Fujifilm Holdings, General Electric Company, Hitachi, Koninklijke Philips, Mindray Medical International, Siemens, Samsung Electronics, Shimadzu and Toshiba. The industry players focus on innovative product launch with affordability and high performance to expand their business portfolio as main strategies. For instance, Siemens Healthcare’s in 2015 launched ACUSON NX3 ultrasound system for meeting the clinical and financial demands of customers.

Browse Related Reports:

Ultrasound Device Market Size, Industry Analysis Report, Regional Outlook (U.S., Germany, UK, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023

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