Pune, India, May 09, 2019 (GLOBE NEWSWIRE) -- Market Research Future (MRFR)’s forecast suggests that the global ultrasound devices market is expected to strike a CAGR of 3.35% over the assessment period 2018 to 2026. Also, it has been highlighted in the report that the market is poised to exceed a valuation of USD 9,000 Mn by the close of 2026.
Increasing prevalence of chronic diseases in conjunction with rising demand for non-invasive diagnosis has paved the way for the expansion of the market. The growth pattern of the market is anticipated to exhibit similar trends over the next couple of years.
Ultrasound devices have been observing widening scope of diagnosis including, but not limited to, urological, abdominal, cardiac, cerebrovascular, gynecological, and breast examinations. It is poised to drive the growth of the ultrasound devices market in the forthcoming years. The market is on the verge of entering a phase of maturity, but technological innovations are forecasted to dominate the growth trajectory across the review period. For instance, the development of portable devices facilitates access to medical facilities in emergencies or remote areas. It is presumed to gain traction in the foreseeable future, thus, augmenting the market.
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The boom witnessed in the medical tourism industry resonates strong opportunities for growth for the market participants. It is poised to propel the expansion of the ultrasound devices market over the next couple of years. The market is likely to attract considerable inflow of investments for expediting growth. Case to the point is, Butterfly, an AI-based healthtech startup, has raised USD 250 Mn in series D funding for its portable full-body ultrasound scanner. Thus, the future trajectory of the market promises potential and growth for the next few years.
Key Players:
The noteworthy players operating in the global ultrasound devices market are Fukuda Denshi (Japan), Analogic Corporation (U.S.), Samsung Electronics Co. Ltd. (South Korea), Hitachi Ltd. (Japan), Fujifilm Holdings Corporation (Japan), Koninklijke Philips N.V. (The Netherlands), Canon Medical Systems Corporation (Japan), Esaote Spa (Italy), Shantou Institute of Ultrasonic Instruments Co. Ltd. (China), Siemens Healthineers (Germany), Shenzhen Mindray Bio-Medical Electronics Co. Ltd. (China), Trivitron Healthcare (India), and General Electric Company (U.S.).
Market Segmentation:
This MRFR report presents an exhaustive segmental analysis of the ultrasound devices market based on portability, display, application, technology, and end-user. By portability, the market has been segmented into cart/trolley based ultrasound devices, handheld/compact ultrasound devices, and point-of-care (POC) ultrasound devices. Among these, the cart/trolley based ultrasound devices segment held the major fraction of the market in 2017 and is anticipated to strike a healthy CAGR over the assessment period. The growth of the segment can be primarily ascribed to its extensive use in acute and critical emergencies.
Based on display, the market has been bifurcated into color ultrasound devices and black & white ultrasound devices. The color ultrasound devices segment is likely to gain control over a relatively larger share of the market as it offers superior image quality with high image resolution.
By application, the ultrasound devices market has been segmented into radiology/general imaging, obstetrics/gynecology, cardiology, anesthesiology, urology, vascular, musculoskeletal, neurology, and gastroenterology. Among these, the radiology/general imaging segment accounted for the maximum market share in 2017 and was trailed by the cardiology segment. The radiology/general imaging segment is expected to thrive substantially owing to the increasing burden of cancer.
The market, by technology, has been divided into diagnostic ultrasound and therapeutic ultrasound. The diagnostic ultrasound segment has been projected to strike a CAGR of 3.71% over the review period which is attributable to increasing demand for 2D ultrasound to treat women.
By end-user, the Ultrasound Devices Market is segmented into hospitals and diagnostic & surgical centers, ambulatory care centers, maternity centers, and research & academic institutes. Among these, the hospitals and diagnostic & surgical centers segment is prognosticated to scale a CAGR of 3.21% during the projection period.
Browse the market data and information spread across 238 pages with 285 data tables and 19 figures of the report “Ultrasound Devices Market - Forecast 2018-2026” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/ultrasound-devices-market-2789
Europe set to surpass a valuation of USD 3000 Mn by 2026
The geographical analysis of the ultrasound devices market spans across four regions, viz. Americas, Europe, Asia Pacific, and the Middle East & Africa (MEA). Europe held the dominant position in 2017 and is expected to scale valuation of USD 3,308.54 Mn by 2026-end. The rising cases of medical emergencies are poised to fuel demand for ultrasound devices in the region.
North America is anticipated to exhibit a decent growth rate in the years to come while securing the second spot. In addition, Asia Pacific has been forecasted to thrive at a rapid pace reflecting a CAGR of 3.76% across the assessment period.
Latest Industry News:
- Philips, a Dutch multinational technology company headquartered in Amsterdam, has announced the launch of EPIQ Elite premium ultrasound system for the expansion of its portfolio.
- Ellex Medical Lasers, an Australia-based company, has unveiled its latest innovation in diagnostic ultrasound technology, Eye Prime.
- Healcerion, the provider of mobile-based healthcare system, has introduced Sonon wireless ultrasound device to support their newly launched Physical Therapist (PT) division.
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