Ultrasound Market Report

Ultrasound Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2015 To 2022

Format: PDF  |  Report ID: GVR1588

Increasing prevalence of chronic and infectious diseases such as cancer and CVDs (cardiovascular diseases) are anticipated to drive ultrasound market over the forecast period. Rising demand for minimal invasive and non invasive diagnostic procedures coupled with innovation in technology are anticipated to drive the market during the forecast period. Growing incidences of injuries in muscles, tendons, vessels, joints and other internal organs are anticipated to boost the market growth over the next decade. Increasing global geriatric population base, rising number of hospitals and rapid introduction of high efficiency imaging products in the market are vital drivers expected to fuel the growth of global ultrasound market over the forecast period. Furthermore, rising global population base (birth rate) is anticipated to trigger the advanced ultrasound devices demand over the forecast period. Increasing expenditure in healthcare sectors, growing public and private sectors partnership funding for advanced ultrasound devices and miniaturization of ultrasound devices are expected to provide significant growth opportunity to ultrasound market.

The global ultrasound market is segmented on the basis of products, application and technology. By products, the market is bifurcated into portable devices and display devices. Portable devices includes trolley/cart based ultrasound devices and handheld ultrasound devices whereas, display segments includes black & white display, and color display. In 2014, color display accounted for the largest market share owing to clear images and efficient diagnostic results. Handheld ultrasound segment is anticipated to show fastest growth by 2022 due to development of portable POC (point-of-care) ultrasound devices. By application, the market is classified into radioecology, urology, vascular, cardiology, gynecology and other body parts. In 2014, radiology/general imaging segment held the largest market share owing to high birth rate and increasing incidences of stem cell based injuries. Cardiovascular segment is expected to show the highest growth over the forecast period owing to growing incidences of cardiac diseases, and increasing demand for technological advanced ultrasound in cardiac field. By technology, the market is bifurcated into diagnostic ultrasound and therapeutic ultrasound. Therapeutic ultrasound is further divided into HIFU (High Intensity Focused Ultrasound) and ESWL (Extracorporeal Shockwave Lithotripsy) whereas, diagnostic ultrasound includes 2D ultrasound, 3D & 4D ultrasound, and doppler imaging. In 2014, diagnostic ultrasound segment was the dominant market owing to advanced product launch, and increasing prevalence of diseases such as cancer, CVD & gynecology.

The global ultrasound market is divided into North America, Latin America, Asia Pacific, Europe and MEA. In 2014, Europe held the largest market share owing to rapid innovation in technology new product launch, rising number of companies, rising prevalence of obesity, high application of HIFU and high investment in R&D. North America is anticipated to show lucrative growth by 2022 due rapid advancement in technology and huge potential market. Asia Pacific region is anticipated to witness highest growth by 2022 due to rising number of MNC in healthcare sectors, improving healthcare infrastructure, increasing incidences of cancers cases, growing geriatric population base and rapid advancement in technology.

The market is highly consolidated and competitive in nature due to large number of market players. Firms are going through many strategies such as merger, acquisition, and geographical expansion to survive in the long run. Major market players of the global ultrasound market are Analogic Corporation, Siemens Healthcare, Fujifilm Holdings Corporation, Toshiba Medical Systems Corporation, Esaote S.P.A, Philips Healthcare, GE Healthcare, Mindray Medical International Ltd. and Hitachi Medical Corporation.

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