The global ultrasound devices market size is set to reach the valuation of USD 9,208.73 million by 2026, as per the latest report by Market Research Future (MRFR). The market can display 3.35% CAGR over the forecast period (2018-2026).
Rising prevalence of chronic diseases and the need to catch them at an early stage is the primary driver of the market. This is supported by statistics by the World Health Organization (WHO) and Center for Disease Control and Prevention (CDC) which registered 17.7 million deaths by cardiovascular diseases. Increased funding and incentives by public and private bodies to encourage development of ultrasound devices can bolster market demand.
Technological breakthroughs in imaging devices in areas of cancer diagnosis, gynecology, obstetrics, and cardiology can fuel the ultrasound devices market growth. A prime instance includes improvements in volumetric ultrasound which lets clinicians attain a closer look at tissue pre- and post-surgery to avoid complications.
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Segmental Analysis
The market for ultrasound devices globally has been segmented on the basis of application, product, clinical application, end user, and region. On the basis of applications, the market is segmented into therapeutic and diagnostic. The segmentation of the market on the basis of clinical application segments the market into radiology, cardiac, obstetrics and gynecology among others. The product basis of segmentation of the market comprises of portable and cart based. The end user segment of the market comprises of ambulatory and hospitals/clinics. The regions that are a part of the ultrasound devices market globally are Europe, Americas, Asia Pacific, Middle East & Africa.
Detailed Regional Analysis
Geographically, the ultrasound devices market is segmented into Europe, Asia Pacific (APAC), Americas, and the Middle East & Africa (MEA).
Europe dominated the market in 2017 with the highest market share. It can show prominent CAGR over the forecast period due to rising incidence of strokes, increased healthcare expenditure, and availability of advanced treatment facilities. The region can accrue USD 3,308.54 million by 2026.
The Americas is expected to hold second position in the ultrasound devices market in 2017 with noticeable market share. The region can show prominent growth owing to the susceptible geriatric population and high expendable incomes of patients.
Asia Pacific, on the other hand, can grow at a rapid pace due to rising government initiatives to improve quality health of patients and prevalence of chronic disorders. It is projected to exhibit 3.76% CAGR over the forecast period to reach third place in the market by 2026.
Competitive Analysis
The critical success factors in the market are easily achieved in the market leading to an elevated pace of development in the forecast period. The market attractiveness and competitors’ dynamics are noticeably improved by the strategies that are being utilized by market players. The market is considerably buoyed by the developments that are occuring in the market. The increased level of emphasis on the variety of products is increasing the number of customers in the market substantially. The successful integration of supply chain management is steadily increasing the development of the market. The innovation in products and services of the markets will alter the course of development of the market substantially. The long run viability of the market is highly dependent on the techniques and the strategic roadmaps that are engaged by market players.
Koninklijke Philips N.V., General Electric Company, Siemens AG, Samsung Electronics Co., Ltd., Toshiba Corporation, Hitachi Ltd., Mindray Medical International Ltd., Shimadzu Corporation, and Analogic Corporation and others the major players operating in the ultrasound devices market globally.
1 Report Prologue
2 Introduction
2.1 Definition 21
2.2 Scope Of The Study 21
2.3 List Of Assumptions 22
2.4 Market Structure 23
3 Research Methodology
3.1 Research Process 25
3.2 Primary Research 26
3.3 Secondary Research 27
3.4 Market Size Estimation 28
3.5 Forecast Model 28
4 Market Dynamics
4.1 Introduction 30
4.2 Drivers 31
4.2.1 Rising Prevalence Of Chronic Diseases 31
4.2.2 Increasing Investments And Funding By Public And Private Organizations 31
4.2.3 Technological Advancements 31
4.2.4 Growing Number Of Hospitals And Diagnostic Centers 32
4.3 Restraints 32
4.3.1 Stringent Regulations 32
4.4 Opportunity 32
4.4.1 Emerging Markets Of Ultrasound Devices 32
4.5 Macroeconomics 33
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