According to the new market research report “Ultrasound Market by Technology [Diagnostic (2D, 3D, Doppler), Therapeutic (HIFU, ESWL)], Display (Color, B&W), Portability (Trolley, Compact, POC), Applications (Gynecology, Urology, Cardiology, Orthopedic), End user (Hospitals) and Region – Global Forecasts To 2025″, published by MarketsandMarkets™, the Ultrasound Market is projected to reach USD 8.2 billion by 2025 from USD 6.1 billion in 2020, at a CAGR of 6.1% during the forecast period.
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The growth of this market is mainly driven by the increasing prevalence of target diseases, which have supported the demand for effective diagnostic procedures. Furthermore, the preference for minimally invasive procedures has risen due to their benefits over traditional surgeries. The availability of funds for research and product commercialization has allowed for technological advancements in ultrasound systems. Lastly, the potential end-user base has expanded increasing numbers of diagnostic centers are being set up across the world to cater to the needs of a growing patient population.
The 3D & 4D ultrasound subsegment of diagnostic ultrasound to register significant growth in the Ultrasound Market by 2025
Based on technology, the market is segmented into diagnostic and therapeutic ultrasound. The diagnostic ultrasound segment is further categorized into 2D, 3D & 4D, and Doppler ultrasound. These technologies are used for the visualization and diagnosis of various medical conditions (such as gynecological disorders and neurological conditions), fetal imaging, and the imaging of organs. The growth of this market is driven by the rising preference for 3D/4D ultrasound across developed markets and their technological benefits as compared to 2D ultrasound.
Browse in-depth TOC on “Ultrasound Market“
165 – Tables
37 – Figures
232 – Pages
Based on system portability, the trolley/cart-based ultrasound systems segment is expected to account for the largest share of the market in 2019
On the basis of system portability, the market is segmented into trolley/cart-based ultrasound systems, compact/handheld ultrasound systems, and point-of-care ultrasound systems. The trolley/cart-based ultrasound systems segment is expected to account for the largest share of the Ultrasound Market in 2019. The large share of this segment can be attributed to the growing adoption of trolley/cart-based ultrasound systems across major markets due to their increasing use in acute care and emergency care settings in hospitals and healthcare institutions.
The vascular applications segment is expected to register the highest growth rate during the forecast period
Based on application, the Ultrasound Market is divided into eight segments—radiology/general imaging applications, obstetrics/gynecology applications, cardiology applications, urological applications, vascular applications, orthopedic & musculoskeletal applications, pain management applications, and other applications. Vascular ultrasound is one of the fastest-growing application segments in the market majorly due to the rising incidence of vascular disorders across the globe, coupled with the greater adoption of vascular ultrasound for the diagnosis of these disorders and technological advancements in the field of 3D/4D imaging.
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Europe is expected to dominate the global Ultrasound Market in 2019
In 2019, Europe is expected to account for the largest share of the global market. This can be attributed to the large number of ongoing clinical research projects in the field of ultrasound, expansions in the clinical applications of focused ultrasound (and the early commercialization of these devices in Europe), and the significant healthcare expenditure across mature European countries (such as Germany, France, the UK, Italy, and Spain).
GE Healthcare (US), Koninklijke Philips N.V. (Netherlands), Canon Medical Systems Corporation (Japan), Hitachi, Ltd. (Japan), Siemens Healthineers AG (Germany), Hologic, Inc. (US), FUJIFILM Holdings Corporation (Japan), Samsung Electronics Co., Ltd. (Korea), Mindray Medical International Limited (China), Analogic Corporation (US), Esaote S.p.A (Italy), Shimadzu Corporation (Japan), Carestream Health (US), CURA Healthcare (India), Chison Medical Technologies Co., Ltd. (China), Mobisante, Inc. (US), Neusoft Corporation (China), Clarius Mobile Health (Canada), Medgyn Products, Inc. (US), and United Imaging Healthcare Co., Ltd. (China), among others are some of the major players operating in the global Ultrasound Market.