According to Goldstein Research, “Global medical ultrasound devices market is majorly driven by the rising number of private diagnostic laboratories in developing countries”.
Ultrasound device is a device that uses high frequency sound waves to see the internal organ of the body. Also known as sonography, it helps the patients to visualize their kidney, liver and also the human fetus etc. The rise in number of chronic diseases such as cancer, asthma etc is propelling the market towards growth.
Global medical ultrasound devices market segmented on the basis of end-users including hospitals/clinics, diagnostic laboratories and ambulatory centers. Hospitals segment dominated the overall medical ultrasound devices market with a value of USD 2.5 billion in 2016 due to increase in demand for diagnostic equipment. The market for medical ultrasound devices globally reached USD 6.85 billion in 2016 and is predicted to reach USD 11.47 billion by 2024, by growing at a CAGR of approximately 7.0% over the forecast period i.e. 2016-2024.
On the basis of display type, color display and black & white display, colored display ultrasound devices are expected to dominate the market with a CAGR of 6.0% over the forecast period on the back of advantages of quality of colored images.
Augmenting population of chronic diseases: Major boost
Chronic diseases are long lasting diseases mostly more than 3 months such as asthma, cancer, arthritis, COPD, diabetes, HIV/Aids Alzheimer disease etc. Thus rise in number of chronic disease lead people towards ultrasound or sonography propelling the market to grow. They work as a major boost for global ultrasound device market
Advancement in ultrasound equipment: Innovation
Development of more stronger and powerful imaging platforms is taking place. Also with the advancement in 3D and 4D technologies that is helping mainly cancer patients to detect cancer at early stages. Several pocket size ultrasound devices are also manufactured such as GE Vscan, acusion P10 etc so that it can be portable for people to carry etc. However, lack of trained technicians and also high cost of devices are hampering the growth of medical ultrasound devices market.
“Global Medical Ultrasound Device Market Outlook 2024” contains detailed overview of the global medical ultrasound device market in terms of market segmentation by portability Type, display type, by technology type, by application type.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
This market report also includes provides competitive outlook of some of the major players of the global medical ultrasound device market which includes profiling of companies of Esaote Spa, Fujifilm Corporation, General Electric Company, Hitachi Ltd, Koninklijke Philips N.V., Mindray Medical International Limited, Samsung Medison Co. Ltd, Siemens Healthcare, Toshiba Corporation etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global medical ultrasound device market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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