DUBLIN--(BUSINESS WIRE)--The "Ultrasound Market by Technology (Diagnostic, FUS, SWL), Display (Color, B/W), Portability (Trolley, Compact, Portable, POC), Application (Radiology, OB/GYN, Urology, Cardiology, Orthopedic), End user (Hospitals, ACC, Diagnostic Centers) - Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global ultrasound market is projected to reach USD 8.4 billion by 2023 from USD 6.3 billion in 2018, at a CAGR of 5.9%
Factors such as the increasing prevalence of target diseases; rising patient preference for minimally invasive procedures; technological advancements; increasing number of diagnostic centers & hospitals; and growing public and private investments, funding, and grants are driving the growth of the global ultrasound market. However, stringent government regulations may restrict the growth of this market to a certain extent in the coming years.
Color ultrasound devices segment is expected to witness the highest growth in the ultrasound market, by device display, during the forecast period
On the basis of device display, the ultrasound market is segmented into black & white ultrasound and color ultrasound devices. The color ultrasound devices segment is expected to grow at the highest CAGR during the forecast period owing to the benefits offered by these devices, such as better image quality and higher image resolution. Also, the growing availability of advanced color ultrasound devices, coupled with the continuous decline in product cost across major countries and expanding distribution networks of major manufacturers across emerging countries, are expected to support the growth of this market segment during the forecast period.
Trolley/cart-based ultrasound systems segment is expected to account for the largest share of the ultrasound market, by system portability
Based on system portability, the ultrasound market is segmented into trolley/cart-based ultrasound systems, compact/handheld ultrasound systems, and point-of-care (PoC) ultrasound systems. In 2018, the trolley/cart-based ultrasound systems segment is expected to account for the largest market share due to the growing adoption of these systems across major markets (as a result of their increasing use in emergency care and acute care settings in hospitals and healthcare institutions).
Asia Pacific market is expected to grow at the highest CAGR during the forecast period
The Asia Pacific market is estimated to grow at the highest CAGR during the forecast period majorly due to the increasing healthcare expenditure across the region's major countries (especially India and China), growing public awareness about the therapeutic potential of ultrasound technologies, continuous decrease in device costs (due to growing localized manufacturing and the presence of global market players), rising prevalence of target diseases, and the ongoing trend of device miniaturization.
Market Dynamics
Drivers
- Increasing Prevalence of Target Diseases
- Rising Patient Preference for Minimally Invasive Procedures
- Technological Advancements
- Growing Public and Private Investments, Funding, and Grants
- Increasing Number of Diagnostic Centers & Hospitals
Restraints
- Stringent Government Regulations
Opportunities
- Expanding Applications of Therapeutic Ultrasound
- Emerging Markets
- Advent of POC Ultrasound Devices
Challenges
- Growing End-User Preference for Refurbished Equipment
- Dearth of Skilled and Well-Trained Sonographers
Industry Trends
- Development of Application-Specific Ultrasound Devices
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Ultrasound Market, By Technology
7 Ultrasound Market, By Device Display
8 Ultrasound Market, By System Portability
9 Ultrasound Market, By Application
10 Ultrasound Market, By End User
11 Ultrasound Market, By Region
12 Competitive Landscape
13 Company Profiles
- Analogic Corporation
- Canon Medical Systems Corporation
- Carestream Health
- Chison Medical Imaging
- Esaote
- FUJIFILM Holdings Corporation
- General Electric Company
- Hitachi Ltd.
- Hologic
- Koninklijke Philips N.V.
- Mindray Medical International Ltd.
- Mobisante, Inc.
- Samsung Electronics
- Shimadzu Corporation
- Siemens AG
For more information about this report visit https://www.researchandmarkets.com/research/6m82n2/2018_ultrasound?w=4
