The market for ultrasound devices is expanding significantly, due to increase in advancements in treating complex diseases. Ultrasound devices are used as both diagnostic imaging and therapeutic modality, and have wide range of applications in the medical field. The diagnostic ultrasound segment is anticipated to expand during the forecast period, as the products have provided a promising solution for rapid diagnosis of disease.
These products offer superior solution than other imagine products, by offering desired outcome and effectiveness in diagnosing. Increasing incidences of chronic diseases has fueled the demand for products that offer rapid and efficient healing. Thus, a majority of hospitals have shifted their preferences toward advanced products. They help decrease the average length of stay in hospitals through early recovery from disease. This, in turn, helps reduce surgical costs, due to decreased length of hospital stay. Therefore, rising need and demand for advanced products that increase therapeutic outcome drives the ultrasound devices market.
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Global Ultrasound Devices Market Witness Most Promising Rise in Demand:
Ultrasound devices are utilized as both diagnostic imaging and therapeutic modality, and have wide range of applications in the medical field. The introduction of 4D ultrasound imaging has revolutionized the imaging industry in the last few years and has proven to be efficient in diagnosing cancer and other complex diseases. Additionally, this technology is proving its efficiency in imaging, while performing complex surgeries. The global ultrasound devices market was valued at US$ 6.5 Bn in 2017.
It is anticipated to expand at a CAGR of 5.6% from 2018 to 2026. The diagnostic ultrasound segment dominates the global market. Rising prevalence of chronic diseases, technological advancements, increasing patient awareness and health care expenditure, and rising need for treatment of complex diseases are major factors driving the market. Considerable expansion of the therapeutic ultrasound segment is driven by significant expansion of the extracorporeal shockwave lithotripsy sub-segment, which is due to the increasing need for effective treatment for kidney stone. The highly fragmented nature of the ultrasound devices market has prompted market players to shift focus toward relatively niche segments such as portable ultrasound devices.
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Key Players of Ultrasound Devices Market Report:
Key players operating in the global ultrasound devices market include GE Healthcare, Koninklijke Philips N.V., Canon Medical Systems Corporation, Hitachi, Ltd., Siemens Healthineers, Mindray Medical International Limited, Samsung Medison Co., Ltd., Fujifilm Holdings Corporation, Esaote SpA, and Analogic Corporation.
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