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Ultrasound Devices Market Foreseen to Witness CAGR of 6% during 2021 to 2031

 

According to
the report, the global ultrasound devices market was valued at US$ 6.2 Bn
in 2020 and is projected to expand at a CAGR of 6% from 2021 to 2031.
Ultrasound is an imaging technology through which the morphological and
physiological defects of human body can be detected. This device uses
high-frequency sound waves for visualization of internal organs of the body. It
has a probe that transmits ultrasonic sound waves into patient’s body. Organs
of the body reflect the high frequency ultrasound waves that are detected by a
detector. An ultrasound system is used to detect internal problems in various
parts of the body such as heart, kidneys, liver, blood vessels, human fetus,
and other organs. It is a type of diagnostic approach, which makes use of high
resolution imaging technique by the signal received by organs. Ultrasound
devices can also be applied in sonography, which is helpful in both diagnostic and
therapeutic procedures. Rise in prevalence of chronic diseases such as heart
disease, stroke, and cancer; technological advancements and new product
launches in ultrasound systems; increase in the number of ultrasound diagnostic
imaging procedures & efficacy in treatment; and rise in awareness about
disease diagnosis to drive the global ultrasound devices market.

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North
America dominated the global ultrasound devices market in 2020. The
trend is anticipated to continue during the forecast period due to increase in
incidence of major chronic diseases and rise in funding from government
organizations and large corporates. Europe is expected to be a highly lucrative
market for ultrasound devices during the forecast period. The market in the
region is likely to expand at a high CAGR during the forecast period.

Increase
in Incidence of Chronic Disorders & Trauma Cases to Drive Global Market

Increase in
incidence of chronic disorders and trauma cases and surge in the global
geriatric population are the key factors projected to boost the growth of the
global ultrasound devices market. The number of carcinoma and cardiovascular
disease cases has increased over the past few years; CVDs is one of the leading
causes of deaths across the world. Ultrasound is one of the most effective
techniques for the pre-diagnosis of cardiovascular diseases. Moreover, the need
of post-surgical imaging during the course of the treatment of a particular
disease fuels the growth of the global ultrasound devices market. Furthermore,
rise in the number of geriatric patients and increase in popularity of
minimally invasive procedures accelerate the growth of the global ultrasound
devices market. Large number of research grants and funding by government and
corporates accelerate the global ultrasound devices market.

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Diagnostic
Ultrasound to Dominate Global Market

In terms of
technology, the global ultrasound devices market has been bifurcated into
diagnostic ultrasound and therapeutic ultrasound. The diagnostic ultrasound
segment has been segregated into 2D ultrasound, 3D & 4D ultrasound, and
Doppler ultrasound. The therapeutic ultrasound segment has been split into
high-intensity focused ultrasound and extracorporeal shockwave lithotripsy. The
diagnostic ultrasound segment accounted for 85.42% share of
the market in 2020. The segment is anticipated to expand at a CAGR
of 6.19% from 2021 to 2031.
Increase in incidence of chronic cases such as cardiac arrest is projected to
drive the global diagnostic ultrasound segment.

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Radiology
to be Highly Lucrative Application

Based on
application, the global ultrasound devices market has been categorized into
radiology/general imaging, cardiology, gynecology, vascular, urology and
others. The radiology/general imaging segment accounted for 28% share
of the market in 2020. The segment is anticipated to expand at a
CAGR of 6.69% from 2020 to 2031.
Increase in the demand for high quality diagnostic and therapeutic imaging
capabilities, and rise in concerns related to radiation dose with other
ultrasound imaging modalities are likely to drive the segment.

Diagnostic
Centers to be Key End User

In terms of
end user, the global ultrasound devices market has been divided into hospitals
& surgical centers, diagnostic centers, ambulatory surgical centers, and
others. The diagnostic centers segment dominated the global ultrasound devices
market due to the availability of multiple service options & devices and
tie-ups with healthcare companies to enhance healthcare service offerings.

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North
America to Dominate Ultrasound Devices Market

In terms of
region, the global ultrasound devices market has been segmented into North
America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North
America dominated the global ultrasound devices market in 2020,
followed by Europe. North America’s significant market share can be ascribed to
the presence of a large number of key players, several patients with chronic
diseases, a well-established healthcare infrastructure, and funding from
government and corporates. The market in North America is anticipated to expand
at a CAGR of 6.42% from 2020 to 2031.
Europe is expected to account for 20.83% market share by 2031.
The market in the region is estimated to reach US$ 3,720.78 Mn
by 2031.

Competition
Landscape of Ultrasound Devices Market

The global
ultrasound devices market is fragmented in terms of a number of players. Key
players operating in the global market include GE Healthcare, Koninklijke Philips
N.V, Canon Medical Systems Corporation, Hitachi Ltd., Siemens Healthineers,
Mindray Medical International Limited, Samsung Medison Co., Ltd., Fujifilm
Holdings Corporation, Esaote SpA, Neusoft Corporation, CHISON Medical
Technologies Co., Ltd., Konica Minolta, Inc., Hologic, Inc., Shantou Institute
of Ultrasonic Instruments Co., Ltd., Terason, and Analogic Corporation.

Global
Ultrasound Devices Market: Segmentation

·        
Ultrasound
Devices Market, by Technology

o    Diagnostic Ultrasound

§  2D Ultrasound

§  3D & 4D Ultrasound

§  Doppler Ultrasound

o    Therapeutic Ultrasound

§  High-intensity Focused Ultrasound

§  Extracorporeal Shockwave Lithotripsy

·        
Ultrasound
Devices Market, by Portability

o    Trolley/Cart-based Ultrasound Devices

o    Compact/Handheld Ultrasound Devices

·        
Ultrasound
Devices Market, by Application

o    Radiology/General Imaging

o    Cardiology

o    Gynecology

o    Vascular

o    Urology

·        
Ultrasound
Devices Market, by End User

o    Hospitals & Surgical Centers

o    Diagnostic Centers

o    Ambulatory Surgical Centers

o    Others

·        
Ultrasound
Devices Market, by Region

o    North America

§  U.S.

§  Canada

o    Europe

§  Germany

§  U.K.

§  France

§  Italy

§  Spain

§  Rest of Europe

o    Asia Pacific
         

§  China

§  India

§  Japan

§  Australia & New Zealand

§  Rest of Asia Pacific

o    Latin America

§  Brazil

§  Mexico

§  Rest of Latin America

o    Middle East & Africa

§  GCC Countries

§  South Africa

§  Rest of Middle East & Africa









































































































































 

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