The world Ultrasound Devices Market was evaluated at $7,050 million in 2015, and is projected to reach $10,476 million by 2022, with a CAGR of 5.8% over the forecast period. This is primarily attributed to the large number of technological advancements (such as 3D & 4D imaging) in ultrasound systems, increase in prevalence & incidence rates of chronic diseases (such as heart disease, stroke, type 2 diabetes, and cancer), increase in number of ultrasound diagnostic imaging procedures, demand for minimal invasive therapies, and rise in awareness for early disease diagnosis. The factors such as rise in public & private investments and grants & funds for the development of more advanced ultrasound devices as well as to create awareness about the advantages offered by these devices also drive the market growth.
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Conversely, the major restraining factors of the market include dearth of skilled and experienced pornographers, globally.
Ultrasound is a medical imaging modality that uses high-frequency sound waves to visualize the internal organs of the body. It is equipped with a probe that transmits the high-frequency ultrasonic sound waves into the body of the patient. These sound waves are then reflected back by the body organs into the probe and are transmitted to a display machine that generates the image with the help of echoes. An ultrasound system is used to visualize liver, kidneys, blood vessels, heart, human fetus, and other organs.
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Diagnostic ultrasound systems generated highest revenue in 2015, owing to increase in ageing population which require frequent diagnostic examinations. The color ultrasound systems accounted for the highest share in 2015 and is estimated to be the faster growing segment.
This is due to high adoption of technologically advanced ultrasound devices and increased awareness about the advantages offered by portable color ultrasound devices. Although the compact/handheld ultrasound devices segment is expected to grow at a high CAGR due to increased adoption of portable ultrasound devices for point-of-care applications, it cannot outpace the trolley/cart based ultrasound devices as they offer more accurate diagnostic capabilities and high performance.
The Asia-Pacific region is expected to emerge as the area with maximum growth potential. It is estimated to be the fastest growing segment at the rate of 6.2% during the forecast period.
ULTRASOUND DEVICES MARKET KEY SEGMENTS:
BY PRODUCT TYPE
BY DEVICE DISPLAY
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