3D Ultrasound Market size is estimated to be $3 billion in 2019, growing at a CAGR of 6.7% during the forecast period 2020-2025. Ultrasound is a medical imaging technique which uses high-frequency sound waves to provide images of internal organs and fetus. Ultrasound is also considered harmless as it does not emit radiation. 3D Ultrasound helps to convert the 2D images into a real-time volumetric dataset with a 90-degree plane view at same time and also captures high-resolution images. 3D ultrasound is widely used in cardiology, obstetrics, ophthalmology, musculoskeletal respiratory care and anesthesia. 3D ultrasound has various advantages owing to which it is gaining more importance than the 2D Ultrasound which includes fast speed examination, reduced waiting time for the patient, and provides high-quality pictures. With increasing healthcare expenditure on imaging diagnosis, the market growth for 3D Ultrasound Market has increased. 3D Ultrasound applications include 3D Echocardiography which helps to evaluate the patient’s cardiac condition, Vascular Imaging for blood cells and arteries flow, 3D scanning for fetal heart imaging among others. The 3D ultrasound market undergoing technological advancement in visualization systems which include laptop and handheld portable ultrasound scanners which are also fuelling the growth of the market for the forecast period 2020-2025.
3D Ultrasound Market Overview Segment Analysis - By Portability Type
By Portability type the 3D Ultrasound Market is segmented into Handheld Ultrasound, and Trolley Ultrasound. Handheld ultrasound offer convenience for the patients as they allow fast diagnosis and along the bedside or remotely outside hospitals resulting in this segment being the fastest growing with a CAGR of 5.8% during the forecast period 2020-2025. Handheld portable ultrasound is easily carried in hand for diagnosis and it also has various applications which include abdominal screening, bladder volume, cardiovascular and obstetrics.
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3D Ultrasound Market Overview Segment Analysis - By End-Use
The end-use segment comprise of Hospitals, Surgical Centers, Diagnostic Centers, Maternal Centers and Research Institutes. Hospitals accounts for the major share of 3D Ultrasound Market. The increasing geriatric population resulting in rise in chronic illness have driven the need for proper diagnosis and care thereby increasing 3D Ultrasound market.
3D Ultrasound Market Overview Segment Analysis - By Geography
In 2019, North America dominated the 3D Ultrasound Market accounting for 40% of the share owing to rising elderly population having chronic diseases and the increase of healthcare expenditure in the region.
However, Asia-Pacific is projected to be the fastest growing owing to increase in research and development of new ultrasound technology for diagnostics during the forecast period 2020-2025.
3D Ultrasound Market Drivers
Increasing application for imaging diagnosis
Increasing patient population has increased healthcare expenditure. The rise in chronic illness cases are increasing the need for diagnosis such as 3D ultrasound. Owing to its advantages over 2D Ultrasound such as reduced time and better quality picture, this technology is fast being adopted for diagnosis. 3D ultrasound does not use radiation further contributing to the market growth as it is a safe method for applications such as fetal studies among other applications such as diagnosis for abdominal syndrome, appendicitis, tumor and renal colic. Other applications included Orthopedics and Ophthalmology.
Technological advancement in ultrasound visualization system
Increasing demand for 3D Ultrasound coupled with technology innovation has driven growth for 3D ultrasound market. For patient convenience portable and compact ultrasounds have been developed which can perform the imaging test even on the patient’s bedside.
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3D Ultrasound Market Challenges
Higher cost of new devices
The high-cost 3D Ultrasound devices results in purchase of refurbished devices as they are offered at low prices owing to which sometimes the devices get damaged easily and are not able to provide quality services for long term. The high cost of purchase of this reduces rate of adoption of these devices by healthcare facilities as they prefer to use traditional ultrasound methods. These factors restrain 3D Ultrasound Market growth.
3D Ultrasound Market Industry Outlook
Product Launches, Merger & Acquisition, joint ventures and R&D activities are key strategies adopted by the players in 3D Ultrasound Market.3D Ultrasound Market top 10 companies are GE Healthcare, Philips Healthcare, Toshiba Medical Systems, Siemens Healthineers, Shenzen Mindray, Canon medical System, Favero Health, Samsung, Fujifilm, Hitachi medical Corporation.
3D Ultrasound Market Developments:
Oct 2020: GE Healthcare, US based leading medical and technology solution provider enterprise have announced the launch of Artificial Intelligence-based Ultrasound Voluson Swift for women health needs. The AI based portable Ultrasound is 3D and 4D enabled for better picture quality and is designed for general gynecology physicians to administer and assist women in their reproductive health, labor and delivery.
Key Takeaways
The 3D Ultrasound Market is dominated by the portable Handheld Ultrasound in 2019 owing to its small pocket structure can be carried anywhere, ready accessibility and convenience. The increased demand for in-home healthcare and remote patient monitoring in order to save hospital costs drive this segment during the forecast period 2020-2025.
The Hospitals account for the largest revenue share by end-user in 2019 owing to the increased diagnosis and imaging performed here.
In 2019, North America dominated the 3D Ultrasound Market owing to their advanced technology and increasing expenditure for diagnostic imaging devices.
Related Reports :
A. Advanced (3D/4D) Visualization Systems Market
https://www.industryarc.com/Report/16849/advanced-3d-4d-visualization-systems-market.html
B. Ultrasound Device Market
https://www.industryarc.com/Research/Ultrasound-Device-Market-Research-508659
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