Global Ultrasound Market Growth Steady at 5.5% CAGR to 2020

Apr 01, 2016, 06:00 ET from ReportsnReports

PUNE, India, April 1, 2016 /PRNewswire/ --

Ongoing technological advancements are pushing global ultrasound market growth along with increasing public-private investments and increasing market demand for minimally invasive diagnostic & therapeutic techniques according to this new research report. It forecasts the market to reach $6.86 Billion by 2020 from $5.25 Billion in 2015, at a CAGR of 5.5% from 2015 to 2020.

Complete report on global ultrasound market spread across 179 pages, profiling 10 companies and supported with 77 tables and 69 figures is now available at http://www.reportsnreports.com/reports/173547-medical-diagnostic-therapeutic-ultrasound-devices-market-2012-2017-global-trends-competitive-analysis.html .

The global ultrasound market is highly competitive, with various global as well as local players. In 2015, the global ultrasound devices market was dominated by General Electric Company (U.S.), Koninklijke Philips N.V. (Netherlands), Toshiba Corporation (Japan), Siemens AG (Germany), and Hitachi Ltd. (Japan). These top five market players jointly accounted for ~83.0% of the global ultrasound market in 2015.    

Geographically, Europe is expected to account for the largest share of the global ultrasound market in 2015, followed by North America (comprising the U.S. and Canada). Factors such as increase in the number of products being commercialized, expansion in clinical applications of HIFU, increasing market penetration of therapeutic ultrasound, and growing emphasis on minimally invasive procedures (including diagnostic and therapeutic ultrasound) are driving the ultrasound market in the European region. However, Asia-Pacific (comprising China, India, Japan, and the Rest of Asia-Pacific) is poised to be the fastest-growing region in the ultrasound market during the forecast period, owing to significant expansion and modernization of healthcare infrastructure, increasing number of age-related illnesses, growing public awareness about therapeutic benefits offered by ultrasound, and increasing focus of international device manufacturers on strengthening their distribution networks in APAC.

Major companies profiled in the report include Analogic Corporation, Esaote S.P.A., Fujifilm Holdings Corporation, General Electric Company, Hitachi Ltd., Koninklijke Philips N.V., Mindray Medical International Ltd., Samsung Electronics Co. Ltd., Siemens AG and Toshiba Corporation. Order a copy of Ultrasound Market by Diagnostic Ultrasound (2D, 3D, 4D, Doppler), Therapeutic Ultrasound (HIFU, ESWL), Products (Cart/Trolley-based, Compact, PoC), Applications (OB/GYN, Cardiac Ultrasound, Vascular Ultrasound, Surgical Ultrasound) - Global Forecasts to 2020 research report at http://www.reportsnreports.com/purchase.aspx?name=173547 .

The radiology/general imaging application segment is expected to dominate the ultrasound market in 2015; however, cardiology is poised to be the fastest-growing application segment, for the forecast period of 2015 to 2020. Factors such as rising incidences of cardiac diseases (coupled with growing lifestyle-related and age-linked disorders such as high blood pressure, diabetes mellitus, and lipid disorders), increasing market availability of cardiac ultrasound devices in major markets, and recent technological advancements in the cardiac ultrasound procedure (such as device miniaturization, portability, and device automation) are contributing to the high growth rate of this segment.

On a related note, another research on Diagnostic Imaging Market by Product and Region Forecast 2015 to 2020 says, the market is estimated to grow at a CAGR of 6.2% from 2015 to 2020. The growth of the diagnostic imaging market is primarily triggered by increasing aging population, improving healthcare facilitates in emerging countries of Asia-Pacific and RoW region, geographic expansion of market players, and the government initiatives to fulfill healthcare needs. Companies like GE Healthcare (General Electric Company), Koninklijke Philips N.V., Siemens Healthcare GmbH (Siemens AG), Toshiba Medical Systems Corporation (Toshiba Corporation), Hitachi Medical Corporation (Hitachi Ltd.), Shimadzu Corporation, Carestream Health, Esaote S.P.A, Fujifilm Corporation and Samsung Medison have been profiled in this 208 pages research report with 93 tables and 61 figures available at http://www.reportsnreports.com/reports/279649-diagnostic-imaging-market-by-x-ray-systems-digital-analog-portable-computed-tomography-ultrasound-imaging-systems-2d-3d-4d-doppler-mri-machines-closed-open-and-nuclear-imaging-systems-spect-pet-pet-ct-global-forecasts-to-2018.html .

Explore more reports on Medical Devices market at http://www.reportsnreports.com/market-research/medical-devices/ .

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