Increasing aging population and higher adoption of early diagnosis and treatment are key factors boosting global market revenue growth
The global ultrasound market is expected to reach USD 9453.8 Million in 2028 and register a steady revenue CAGR of 5.40% over the forecast period, according to latest report published by Reports and Data. Key factors driving global market revenue growth are rapid advancements in ultrasound systems, increasing adoption of highly efficient imaging devices, and higher prevalence of chronic and infectious diseases.
Ultrasound, also called sonography is a medical imaging technique that uses sound waves to create images of the internal body parts and helps healthcare experts and physicians to detect and treat various diseases related to heart, thyroid glands, bones, liver, and ovaries. Sonography is widely used for examining developing fetuses, evaluating blood flow, examining breast lumps, and detecting metabolic bone diseases or genital and prostate problems. Factors such as increasing investments in research & development activities, rising funding from public and private sectors, and high demand for minimally invasive diagnostics are fueling global market growth. In addition, increasing focus on developing enhanced ultrasound techniques and higher inclination towards remote patient monitoring and home healthcare settings are expected to fuel overall market growth in the near future.
Key companies profiled in the report include
GE Healthcare, Koninklijke Philips N.V., Canon Medical Systems Corporation, Siemens Healthineers AG, Hitachi, Ltd., Samsung Electronics, Ltd., FUJIFILM Holdings Corporation, Esaote S.p.A., Mindray Medical International Ltd., Shimadzu Corporation, Analogic Corporation, Carestream, Hologic, MobiSante, Chison Medical Imaging Co., Ltd., Konica Minolta Inc., and Toshiba Corporation.
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The report is an investigative study that determines market growth and market scope on the basis of market trends, consumer behavior shifts, consumption and production patterns, product portfolio offered by the market, growth rate, drivers and constraints, financial positions, and existing challenges and limitations of the Ultrasound market.
The report discusses in detail the global production capacity, demand and supply ratio, market dynamics, and comprehensive analysis of the competitive landscape. It provides an industry-wide analysis of the market share of each players along with their business portfolio, production and manufacturing capacity, product portfolio, business expansion plans, financial standing, and strategic alliances such as mergers and acquisitions, joint ventures, and collaborations, among others.
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The regional bifurcation of the market analyzes key market segments such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report discusses in detail the market growth, market size, revenue growth, market share, production and consumption, demand and supply, current and emerging trends, and technological developments in each region.
The key geographical regions analyzed in the market report are:
- North America (U.S.A., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- AsiaPacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Ultrasound Market Segmentation based on Types:
Device Display Outlook (Revenue, USD Million, 2018-2028)
- Color Ultrasound Devices
- Black & White (B/W) Ultrasound Devices
Product Type Outlook (Revenue, USD Million, 2018-2028)
- Diagnostic
- 2D Imaging Systems
- 3D & 4D Imaging Systems
- Doppler Imaging
- Therapeutic
- High-Intensity Focused Ultrasound (HIFU)
- Extracorporeal Shockwave Lithotripsy (ESWL)
Portability Outlook (Revenue, USD Million, 2018-2028)
- Trolley/Cart
- Compact/Handheld
- Point-of-care (PoC)
Application Outlook (Revenue, USD Million, 2018-2028)
- Radiology/General Imaging
- Obstetrics/Gynecology
- Cardiology
- Urology
- Vascular
- Others
End-use Outlook (Revenue, USD Million, 2018-2028)
- Hospitals, Surgical Centers, and Diagnostic Centers
- Maternity Centers
- Ambulatory Care Centers
- Research and Academia
- Others
- Physiotherapy Clinics
- Independent Associations
- Government Organizations
- Sports Academies
Some key highlights from the report:
- Based on product, diagnostic segment is expected to account for the largest revenue share over the forecast period. This growth can be attributed to factors such as higher prevalence of various chronic conditions, increasing usage of 2D ultrasound devices, and growing adoption of 3D and 4D technology in many hospitals and ambulatory care centers.
- Among portability types, trolley/cart segment is expected to register a robust revenue CAGR between 2021 and 2028, owing to increasing preference for ambulatory care services, easy portability of ultrasound machines, and growing hospital and acute care emergencies.
- Based on end-use, hospital, diagnostic centers, and surgical centers segment is expected to account for the largest revenue share between 2021 and 2028. This growth is attributed to increasing healthcare infrastructure, rising number of patient admissions, and higher adoption of minimally invasive procedures.
- Based on application, obstetrics/gynecology segment is expected to register a robust revenue CAGR during the forecast period. Factors such as rising number of pregnant women globally, increasing cases of female health issues, and introduction of novel and highly effective imaging products are expected to propel growth.
- North America is expected to account for the largest revenue share over the forecast period, owing to presence of many key players, increasing prevalence of chronic diseases, availability of advanced ultrasound devices, presence of well-developed healthcare infrastructure, higher adoption of advanced diagnostic equipment, and rising investments for developing enhanced imaging devices.
- Asia Pacific is expected to register a robust revenue CAGR between 2021 and 2028, owing to factors such as increasing investments in research projects, presence of low-cost equipment manufacturers, improving healthcare infrastructure, high geriatric population, and rising demand for minimally invasive processes. In addition, increasing adoption of 3D and 4D imaging systems, rising per capita income, and higher funding from private and public organizations would propel growth in this region.
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