LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global ultrasound equipment market is expected to grow at a CAGR of nearly 6% during the forecast period.
This research report titled ‘Global Ultrasound Equipment Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The adoption of advanced technological innovations is contributing to the growth of the global ultrasound equipment market. Extensive research in therapeutic ultrasound has led to the use of these equipment in new applications areas. Techniques like extracorporeal shockwave lithotripsy (ESWL) is used for minimally invasive urinary tract stones propulsion and high intensity focused ultrasound (HIFU) for prostate cancer ablation.
The focus on introducing portable and compact ultrasound equipment have increased due to the growing end-user preference towards technologically advanced, easy-to-use, and lightweight ultrasound equipment. Additionally, the launch of point-of-care ultrasound devices has made them a standard not only in emergency departments of hospitals, but also of home care for patient monitoring. With such crucial application areas, this segment is set to grow in the market forecast period.
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Based on application, the report categorizes ultrasound equipments into the following segments:
- Obstetrics and gynecology
- Radiology
- Cardiology
- Others
The top three revenue generating application segments in the global ultrasound equipment market are discussed below:
Obstetrics and gynecology
Central Intelligence Agency has reported that the global population is likely to hit the 8 billion mark by 2020. This high birth rate guarantees a continued demand for ultrasound equipment to diagnose fetal and maternal gestational stages. Ultrasound imaging has many applications including diagnosis and confirmation of early pregnancy, determination of gestational age and assessment of fetus size, fetal heartbeats and any congenital defects, and diagnosis of fetal malformation.
“Vendors are focusing on portable, compact ultrasound equipment with 4D technologies due to their ease-of-use and advantages in emergency diagnosis. The increasing government initiatives toward better fetal and maternal health, as well as the growing focus on women’s gynecological health, has prompted more individuals to undergo ultrasound imaging during pregnancy, which increases ultrasound equipment sales,” says Bharath Palada, one of the lead analysts at Technavio for medical imaging research.
Radiology
In radiology, ultrasound equipment is used to image abdominal organs, pelvis, heart, major blood vessels, breasts, testicles, and thyroid glands to detect any abnormalities. Cancer is becoming more rampant with time and diagnostic ultrasound and therapeutic ultrasound technologies are now widely being used to combat the disease. Researchers are trying the combination of ultrasound with other imaging modalities like MRI to successfully ensure prostate cancer eradication.
“The early diagnosis of cancer has greatly aided medical health professionals to prevent the spreading of the mutated cells to other parts of the body. This is paving the way for extensive use of ultrasound equipment for diagnosis and cure. This will have a positive impact on the ultrasound equipment market,” says Bharath.
Cardiology
In cardiology, ultrasound equipment is used to test for the proper functioning of the heart, measure the size of cavities, observe the functioning of arteries, ventricles, and valves, and detect any structural defects. In 2015, cardiovascular diseases accounted for more than 17 million deaths, and this number is forecast to reach over 20 million by 2020. The increasing cardiovascular risk factors among individuals calls for ultrasound equipment to image modalities like transthoracic echocardiogram, transesophageal echocardiogram, to check abnormal heart valves, to diagnose heart murmurs, and arterial sonography.
Advances in ultrasound technology have improved imaging techniques and made the diagnosis for cardiovascular diseases more accurate. The high prevalence of chronic diseases necessitates wider diagnosis and prevention methods using ultrasound equipment, which will drive the global ultrasound equipment market.
The top vendors highlighted by Technavio’s research analysts in this report are:
- GE Healthcare
- Philips Healthcare
- Siemens Healthineers
- Hitachi Medical Systems
- Toshiba Medical Systems Corporation
- FUJIFILM SonoSite
Browse Related Reports:
- Global Intravascular Ultrasound Market 2016-2020
- Global Portable Ultrasound Market 2016-2020
- Global Peripheral Vascular Diagnostic Systems Market 2016-2020
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