Ultrasound Devices Market Overview
Ultrasound devices market is expected to acquire a market value of USD 9,208.76 Million while expanding at a significant CAGR by 2026, predicts Market Research Future (MRFR). The growing need for less invasive diagnostics is expected to propel the ultrasound device market forward. Another important factor that is predicted to boost the ultrasound market growth in the future is the growing need for therapeutic gadgets. The development of user-friendly, technologically sophisticated equipment is expected to increase demand for products that can help the sector grow in the future. Furthermore, the rising tendency toward home healthcare and remote patient monitoring is seen as another key factor that may help the business develop throughout the forecast period.
Present breakthroughs in novel uses of ultrasound techniques in the treatment of illnesses such as uterine fibroid are anticipated to replace current approaches, boosting market growth significantly over the assessment period.
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Hospitals and diagnostics & surgical centers are expected to grow at a CAGR of 3.21 percent in the end-user sector of the global ultrasound devices market during the forecast period.
During the forecast period, the radiology/general imaging sector of the global ultrasound devices market is expected to gain considerable momentum in the application segment.
Diagnostic ultrasound is expected to grow at a CAGR of 3.71 percent in the technology category of the global ultrasound devices market over the research period.
In 2017, cart/trolley-based ultrasound equipment accounted for a considerable market share in the global ultrasound devices market’s portability category.
The color ultrasound sector of the global ultrasound devices market is expected to gain a higher market share than the other segments in the display segment.
During the projected period, Europe is expected to dominate the worldwide market. By 2026, the area is expected to have a market value of USD 3,308.54 million. The rising cost of healthcare and the rising incidence of chronic illness among the growing elderly population are expected to be major drivers of the business in the future years.
During the projected period, North America is predicted to gain the second highest market share. The increased incidence of chronic diseases among the growing elderly population is projected to increase demand for the product, resulting in the ultrasound device market expanding. Another important factor that might help to grow the market in the region is the presence of established companies in the region. During the projected period, the United States is expected to play the most important role in developing the market.
Because of the rising attempts to upgrade healthcare facilities, APAC is expected to develop at a high rate over the projected period. By 2026, the area is expected to grow at a CAGR of 3.76 percent. Another important factor that is expected to boost the market throughout the assessment period is the incidence of chronic illnesses. Furthermore, the presence of growing nations like India, China, and Japan is projected to significantly enhance the market throughout the assessment period.
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The notable players are the Fukuda Denshi (Japan), Samsung Electronics Co. Ltd. (South Korea), Analogic Corporation (U.S.), Hitachi Ltd. (Japan), Koninklijke Philips N.V. (The Netherlands), Fujifilm Holdings Corporation (Japan), Canon Medical Systems Corporation (Japan), Shantou Institute of Ultrasonic Instruments Co. Ltd. (China), Esaote Spa (Italy), Siemens Healthineers (Germany), Trivitron Healthcare (India), Shenzhen Mindray Bio-Medical Electronics Co. Ltd. (China), General Electric Company (U.S.).
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