Global Ultrasound Market is Projected to Reach USD 8.4 Billion by 2023 From USD 6.3 Billion in 2018, at a CAGR of 5.9%

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Nov 21, 2018, 07:30 ET

DUBLIN, Nov 21, 2018 /PRNewswire/ --

The "Ultrasound Market by Technology (Diagnostic, FUS, SWL), Display (Color, B/W), Portability (Trolley, Compact, Portable, POC), Application (Radiology, OB/GYN, Urology, Cardiology, Orthopedic), End user (Hospitals, ACC, Diagnostic Centers) - Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The global ultrasound market is projected to reach USD 8.4 billion by 2023 from USD 6.3 billion in 2018, at a CAGR of 5.9%

Factors such as the increasing prevalence of target diseases; rising patient preference for minimally invasive procedures; technological advancements; increasing number of diagnostic centers & hospitals; and growing public and private investments, funding, and grants are driving the growth of the global ultrasound market. However, stringent government regulations may restrict the growth of this market to a certain extent in the coming years.

Color ultrasound devices segment is expected to witness the highest growth in the ultrasound market, by device display, during the forecast period

On the basis of device display, the ultrasound market is segmented into black & white ultrasound and color ultrasound devices. The color ultrasound devices segment is expected to grow at the highest CAGR during the forecast period owing to the benefits offered by these devices, such as better image quality and higher image resolution. Also, the growing availability of advanced color ultrasound devices, coupled with the continuous decline in product cost across major countries and expanding distribution networks of major manufacturers across emerging countries, are expected to support the growth of this market segment during the forecast period.

Trolley/cart-based ultrasound systems segment is expected to account for the largest share of the ultrasound market, by system portability

Based on system portability, the ultrasound market is segmented into trolley/cart-based ultrasound systems, compact/handheld ultrasound systems, and point-of-care (PoC) ultrasound systems. In 2018, the trolley/cart-based ultrasound systems segment is expected to account for the largest market share due to the growing adoption of these systems across major markets (as a result of their increasing use in emergency care and acute care settings in hospitals and healthcare institutions).

Asia Pacific market is expected to grow at the highest CAGR during the forecast period

The Asia Pacific market is estimated to grow at the highest CAGR during the forecast period majorly due to the increasing healthcare expenditure across the region's major countries (especially India and China), growing public awareness about the therapeutic potential of ultrasound technologies, continuous decrease in device costs (due to growing localized manufacturing and the presence of global market players), rising prevalence of target diseases, and the ongoing trend of device miniaturization.

Key Topics Covered:

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Currency Used for the Study
1.5 Market Stakeholders

2 Research Methodology
2.1 Research Data
2.2 Market Estimation Methodology
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions
2.5 Research Limitations

3 Executive Summary

4 Premium Insights
4.1 Ultrasound: Market Overview
4.2 Ultrasound Market, By Technology, 2018 vs 2023, (USD Million)
4.3 Diagnostic Ultrasound Market, By Type, 2018 vs 2023, (USD Million)
4.4 Therapeutic Ultrasound Market, By Type, 2018 vs 2023, (USD Million)
4.5 Ultrasound Market, By Device Display, 2018 vs 2023, (USD Million)
4.6 Ultrasound Market, By System Portability, 2018 vs 2023, (USD Million)
4.7 Ultrasound Market, By Application, 2018 vs 2023, (USD Million)
4.8 Ultrasound Market, By End User, 2018 vs 2023, (USD Million)
4.9 Ultrasound Market: Geographical Snapshot

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Prevalence of Target Diseases
5.2.1.2 Rising Patient Preference for Minimally Invasive Procedures
5.2.1.3 Technological Advancements
5.2.1.4 Growing Public and Private Investments, Funding, and Grants
5.2.1.5 Increasing Number of Diagnostic Centers & Hospitals
5.2.2 Restraints
5.2.2.1 Stringent Government Regulations
5.2.3 Opportunities
5.2.3.1 Expanding Applications of Therapeutic Ultrasound
5.2.3.2 Emerging Markets
5.2.3.3 Advent of POC Ultrasound Devices
5.2.4 Challenges
5.2.4.1 Growing End-User Preference for Refurbished Equipment
5.2.4.2 Dearth of Skilled and Well-Trained Sonographers
5.3 Industry Trends
5.3.1 Development of Application-Specific Ultrasound Devices
5.4 Pricing Trend Analysis (2015-2017)
5.4.1 North America
5.4.2 Europe
5.4.3 Asia Pacific
5.4.4 Rest of the World

6 Ultrasound Market, By Technology
6.1 Introduction
6.2 Diagnostic Ultrasound
6.2.1 2D Ultrasound
6.2.1.1 Strong Market Demand in Less-Developed and Emerging Countries to Sustain Revenue Growth of 2D Ultrasound Manufacturers
6.2.2 3D and 4D Ultrasound
6.2.2.1 Greater Diagnostic Accuracy & Improved Imaging Capabilities to Boost the Global Market Demand for 3D Ultrasound
6.2.3 Doppler Ultrasound
6.2.3.1 Growing Applications in Pain Management, Emergency Care, and Cardiovascular Imaging to Drive Doppler Ultrasound Market Demand
6.3 Therapeutic Ultrasound
6.3.1 Shockwave Lithotripsy
6.3.1.1 Greater Patient Emphasis on Minimally Invasive Treatment of Kidney & Gall Bladder Stones to Replicate Into Higher Demand for Lithotripsy Products
6.3.2 Focused Ultrasound
6.3.2.1 Greater Clinical Evidence to Establish the Safety & EffiCACy Profile for Various Cancer Treatment to Drive Adoption of Focused Ultrasound

7 Ultrasound Market, By Device Display
7.1 Introduction
7.2 Color Ultrasound
7.2.1 Greater Market Availability of Advanced Color Ultrasound Devices to Drive Their Market Growth Till 2023
7.3 Black and White (B/W) Ultrasound
7.3.1 APAC to Register Sustained Market Demand for B/W Ultrasound Products During the Study Period

8 Ultrasound Market, By System Portability
8.1 Introduction
8.2 Trolley/Cart-Based Ultrasound Systems
8.2.1 Increased Usage for Acute Care & Emergency Care Among Providers to Drive the Market Demand for Trolley Based Systems
8.3 Compact/Handheld Ultrasound Systems
8.3.1 Procedural & Technical Benefits as Well as Device Affordability to Drive Greater Adoption of Compact Ultrasound
8.4 Point-of-Care (POC) Ultrasound Systems
8.4.1 Improved Operational & Clinical EffiCACy to Boost POC Ultrasound Market Growth

9 Ultrasound Market, By Application
9.1 Introduction
9.2 Radiology/General Imaging Applications
9.2.1 Greater Adoption in Image-Guided Surgery/Radiology Procedures to Drive Ultrasound Market Demand
9.3 Cardiology Applications
9.3.1 Rising Prevalence of Cardiac Disorders Across Major Healthcare Markets Will Drive the Market
9.4 Obstetrics/Gynecology Applications
9.4.1 Rising Demand for Uterine Fibroid and Obstetric Application to Boost Ultrasound Market Demand
9.5 Vascular Applications
9.5.1 Vascular Application to Be the Fastest-Growing Application Segment in the Ultrasound Industry
9.6 Urological Applications
9.6.1 Greater Patient Emphasis on Minimally Invasive Medical Procedures to Boost Ultrasound Market Revenues
9.7 Orthopedic and Musculoskeletal Applications
9.7.1 Rising Patient Preference for Effective & Early Disease Diagnosis to Boost Ultrasound Market Growth
9.8 Pain Management Applications
9.8.1 Ultrasound Devices are Increasingly Being Utilized for Trauma & Emergency Care Applications
9.9 Other Applications

10 Ultrasound Market, By End User
10.1 Introduction
10.2 Hospitals, Surgical Centers, and Diagnostic Centers
10.2.1 Significant Number of Ultrasound-Based Medical Procedures Performed Among Major Providers
10.3 Maternity Centers
10.3.1 Increased Usage of 3D, 4D, and Doppler Ultrasound for OB/GYN Applications
10.4 Ambulatory Care Centers
10.4.1 Increasing Number of Minimally Invasive & Emergency Medical Procedures Performed By Accs
10.5 Research and Academia
10.5.1 Growing Number of Industry-Academia Collaborations to Develop Novel Ultrasound Products
10.6 Other End Users

11 Ultrasound Market, By Region
11.1 Introduction
11.2 Europe
11.2.1 Germany
11.2.1.1 Expansion of Application Horizons to Driver Ultrasound Market in the Country
11.2.2 France
11.2.2.1 Growing Patient Emphasis on Minimally Invasive Medical Procedures to Drive Market Demand
11.2.3 UK
11.2.3.1 Increased Geriatric Patients to Be Major Contributor in Ultrasound Market Growth
11.2.4 Italy
11.2.4.1 Improved Reimbursement Scenario & Increasing Researches to Support Overall Market Growth
11.2.5 Spain
11.2.5.1 Low Market Entry Barrier to Drive Revenue Growth of Global Ultrasound Manufacturers
11.2.6 Rest of Europe
11.3 North America
11.3.1 US
11.3.1.1 Increasing Adoption of Novel Ultrasound Technologies to Drive the Market Growth for Portable Platforms
11.3.2 Canada
11.3.2.1 Significant Number of Ultrasound-Based Medical Procedures to Replicate Into Their Sustained Market Demand
11.4 Asia Pacific
11.4.1 China
11.4.1.1 Significant Expansion of Healthcare Infrastructure Coupled With Localized Manufacturing to Drive the Market Growth
11.4.2 Japan
11.4.2.1 Favorable Reimbursement Scenario Coupled With Significant Geriatric Population to Boost the Japanese Ultrasound Market
11.4.3 India
11.4.3.1 Significant Burden for Target Diseases Coupled With Availability of Affordable Devices to Drive Ultrasound Market Growth
11.4.4 Rest of Asia Pacific
11.5 Rest of the World
11.5.1 Latin America
11.5.1.1 Significant Prevalence for Target Conditions to Sustain the Ultrasound Market Demand
11.5.2 Middle East
11.5.2.1 Increased Patient Awareness About Ongoing Technological Advancements to Be the Major Driving Factor
11.5.3 Africa
11.5.3.1 Significant Patient Population for Chronic Diseases to Drive Ultrasound Market Growth

12 Competitive Landscape
12.1 Introduction
12.2 Global Ultrasound Market Share Analysis (2017)
12.3 Competitive Scenario

13 Company Profiles

Analogic Corporation
Canon Medical Systems Corporation
Carestream Health
Chison Medical Imaging
Esaote
FUJIFILM Holdings Corporation
General Electric Company
Hitachi Ltd.
Hologic
Koninklijke Philips N.V.
Mindray Medical International Ltd.
Mobisante, Inc.
Samsung Electronics
Shimadzu Corporation
Siemens AG

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