LONDON, Feb. 9, 2016 /PRNewswire/ -- The new report "Global Diagnostic Ultrasound Devices Market Assessment & Forecast: 2015-2019" by Spearhead Acuity Business Research & Consulting group reveals that global diagnostic ultrasound devices market was valued at US$ 5,381.1 million in 2014 and expected to grow to US$ 7,466.3 million by 2019 at a CAGR of 6.8% from 2015 to 2019.
The report covers market analysis of global ultrasound market has been analyzed for six geographies of North America, Europe, Asia-Pacific, Latin America, Middle-East and Africa. Asia-Pacific is expected to be the most potential market for the period 2015-2019, whereas Africa is estimated to be the slowest of the six regions and is anticipated to grow at a CAGR of 5.1% from 2015 to 2019. North America's diagnostic industry traditionally relies greatly on CT and MRI modalities and ranked slightly behind Europe in terms of global revenue generation. Demand for high-end and premium device segments is one of the primary growth drivers for the ultrasound technology in Europe and North America. Other growth drivers are the aging population, increasing adoption of hand-held systems and non-conventional markets such as point-of-care, home-care and emergency medicine.
The report provides revelations into different technology segments such as 2D ultrasound, black & white or color ultrasound devices, 3D and Doppler ultrasound devices. The analysis also covers product types such as trolley-based, hand-held and portable devices market. Today ultrasound has medical applications on every area of the body and gives very accurate results regarding the overall structural composition based on the density and transmission of the sound waves through biological tissue. There are a variety of different components available in the market today. 5-6 types of transducers are available based on application of ultrasound and imaging area. The trolley or cart configuration is the most common type of configuration available in the market. The system comprises of large data storage capacity along with multiple attached transducers. These systems can be transported only over brief distances for e.g. within a single floor of a medical facility. These devices are heaviest due to additional batteries, storage and data transmission facilities provided. Cart or trolley based ultrasound devices are broadly categorized into three segments based on their pricing and functionality, namely, low-end, high-end and premium. A low-end ultrasound system could be priced anywhere between US$ 90,000 to US$ 120,000. High-end and Premium systems are priced anywhere between US$ 150,000 and US$ 250,000. Key players in this market include GE Healthcare, Siemens, Philips Healthcare, Analogic Corporation, SonoSite, SIUI, Toshiba Medical Systems, Hitachi-Aloka, SonoScape Medical Corp, Esaote, Verathon Incorporated, Terason (Teratech Corporation), Samsung Medison, Fukuda Denshi, Mobisante and Signostics.
The scope of the report also encompasses different ultrasound applications in healthcare and medicine such as oncology or tumor detection, gynecology and obstetrics, cardiology, emergency medicine, anesthesiology, vascular and others. The most popular application of ultrasound by far is its use in monitoring fetus. Due to its safety and efficiency in imaging, ultrasound is used for checking the fetus for any abnormalities in position of the baby, size, shape, bone structure formation among others. The procedure involves the application of ultrasound gel to the abdomen of the mother and then the area is scanned by a probe for imaging. The last two decades has shaped the ultrasound market very well across the globe. The technology which was discovered before other modalities such as MRI took time to develop into the powerful diagnostic technology that it is today.
In terms of technology, ultrasound is constantly moving towards greater mobility. Diagnostics as an industry is moving towards using non-ionizing technologies for imaging such as MRI and capsule endoscopy. There are an increasing number of companies such as Rivanna Medical and Signostics that are introducing hand-held and portable ultrasound. Due to the relative safety, and the non-invasive nature, ultrasonic imaging has become one of the most rapidly advancing technologies. Along with this, companies are now introducing wireless transducers such as Acuson Freestyle that are able to send images of internal organs such as kidneys, heart and lungs without worrying about troublesome cables or moving bulky machines around in a patient's room. The boldness of small players in accessing international markets, it is sufficient to say the market is already highly competitive and pricing new technology adequately so as to be accessible to large population in emerging regions will guarantee significant capital returns.
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