Dublin, Aug. 17, 2022 (GLOBE NEWSWIRE) -- The "Medical Ultrasound Equipment - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Medical Ultrasound Equipment Market to Reach $8.2 Billion by 2026
Amid the COVID-19 crisis, the global market for Medical Ultrasound Equipment estimated at US$6.6 Billion in the year 2022, is projected to reach a revised size of US$8.2 Billion by 2026, growing at a CAGR of 5% over the analysis period. Diagnostic, one of the segments analyzed in the report, is projected to record 4.8% CAGR and reach US$5.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Therapeutic segment is readjusted to a revised 5.4% CAGR for the next 7-year period.
The growth of ultrasound medical devices in the diagnostics arena can also be attributed to the benefits offered over computed tomography (CT), Magnetic Resonance Imaging (MRI) and other imaging tools, in terms of safety, price, and effectiveness. Ultrasound devices do not include any ionizing radiation, and are therefore much safer to use when compared to other imaging tools. An ultrasound also costs less when compared to a CT or an MRI. The technology also finds therapeutic applications, such as in tissue ablation, bone repair and growth, and cataract treatment. Researchers globally are using ultrasonic waves to perform non-invasive acoustic, or bloodless surgery, and to stop internal bleeding in trauma patients as well as to control the delivery of drugs or other molecules to targeted sites in the body.
The U.S. Market is Estimated at $1.3 Billion in 2022, While China is Forecast to Reach $1.9 Billion by 2026
The Medical Ultrasound Equipment market in the U.S. is estimated at US$1.3 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$1.9 Billion by the year 2026 trailing a CAGR of 6.4% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.9% and 4.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR. Strong economic growth, increasing healthcare spending, improved standard of healthcare facilities are expected to fuel demand for new equipment in developing markets. Aging population and rising incidence of chronic illnesses are driving demand for ultrasound systems in these markets.
Contrast Agents Expand Ultrasound Applications
While x-ray contrast media depend on chemical formulation to take up x-rays, ultrasound contrast media are pharmaceuticals, which improve a reverberation from an ultrasound beam due to its physical properties. So far, the most efficient formulations developed in case of ultrasound use microbubbles of gas, which is a difficult process. The bubbles need to be small to red blood cells so that there is no blockage of capillaries, further, small bubbles are quickly soluble in body fluids or get absorbed by body`s normal defense mechanisms against blood-borne microparticles.
Select Competitors (Total 71 Featured):
- BK Medical APS
- Canon Medical Systems Corporation
- Esaote SPA
- FUJIFILM SonoSite, Inc.
- GE Healthcare
- Hitachi Healthcare Manufacturing, Ltd.
- Mindray Medical International Limited.
- Misonix, Inc.
- Philips Healthcare
- Samsung Medison Co., Ltd.
- Siemens Healthineers
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Technology Advances Spur Growth
- Artificial Intelligence at the Forefront in New Ultrasound Systems
- Enhanced Visualization Methods Enter the Ultrasound Space
- Improved Electronics Drive Development of Advanced Systems
- Automated Ultrasound Scanning Improves Department Efficiiency
- Advances in Compact Ultrasound Systems
- Ergonomics Gains Importance in New Product Designs
- Elastography Makes Waves in Ultrasound Industry
- Real-time 3D or 4D Ultrasound Imaging Grows in Prominence
- Increasing Rates of Breast Cancer Drives Ultrasound Presence as a Supplementary Imaging Tool for Breast Cancer
- Rise in Incidence of Cardiovascular Diseases Drives Demand for Echocardiography
- Fatalities by Heart Conditions - Estimated Percentage Breakdown for Cardiovascular Disease, Ischemic Heart Disease, Stroke, and Others
- Emphasis on Improved Healthcare Delivery Drives Use of Ultrasound in Prenatal Diagnostics
- Ultrasound for Therapeutic Applications: Largely Untapped
- Select FDA Approved Modes for Ultrasound Therapy
- Focused Ultrasound: Multiple Therapeutic Possibilities
- Application of Ultrasound in Alleviating Parkinson's Tremors
- Prevalence of Kidney Stones Drives Use of Ultrasound Technology
- Urinary Calculus Incidence by Type in the US: Percentage Breakdown of Incidence by StoneType
- Advancements in Ultrasound Fusion Technology
- Ultrasound and MRI Imaging: An Efficient Combination
- Contrast Agents Expand Ultrasound Applications
- Commercially Available Contrast Agents for Cardiology Applications
- Microbubbles/Ultrasound Contrast Agents Set for Strong Growth
- Rise in Healthcare Expenditure to Drive Growth
- Demographic Factors Buoy Demand for Ultrasound Equipment
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/aaer0u
