MRFR Asserts – Ultrasound Devices Market Size Boom with USD 9,208.76 million Rising by Demand for Noninvasive Medical Imaging and Diagnosis and Technology Advancements

Ultrasound Devices Market
Growing Demand for Congenital Birth Defect Detection Drives Demand from Ultrasound Devices Market with Growing Demand for Advancements in Medical Technology

Ultrasound Devices Market Outlook:

Ultrasound devices work by sending out high-frequency sound waves that provide a picture of the targeted area based on the response of various bodily tissues to the sound waves. Since different tissues react differently to the same sound waves, the technique has become popular in the healthcare sector.

The Global Ultrasound Devices Market size can balloon to USD 9,208.76 million by 2026, as per the latest findings of Market Research Future (MRFR). The market growth is expected to rise thanks to prevalence of numerous chronic diseases and investments by public and private organizations to advance the current technology of ultrasound devices.

The report elaborates on the major drivers and restraints for the global ultrasound devices market in detail by analyzing their impact on the market’s trajectory over the forecast period.

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The growing demand for ultrasound devices for diagnostic purposes is likely to be the major driver for the global ultrasound devices market over the forecast period.

Competitive Analysis:

Leading players in the global ultrasound devices market include,

  • Siemens AG
  • GE
  • Hitachi Ltd.
  • Shimadzu Corporation
  • Analogic Corporation
  • Mindray Medical International Ltd.
  • Toshiba Corporation
  • Samsung Electronics Co. Ltd.
  • and Koninklijke Philips NV.

In 2019, security specialist Check Point Software Technologies said in a report that ultrasound devices running on older operating systems such as Windows 2000 were virtually defenseless against modern hackers, which could result in the hackers gaining access to confidential hospital information and making exorbitant ransom demands on the hospital. Eliminating this threat is likely to be top of the agenda for the leading players in the global ultrasound devices market over the forecast period.

Segmentation:

The global ultrasound devices market is segmented on the basis of portability, display, application, technology, and end-user.

By portability, the cart/trolley-based ultrasound devices had accounted for a large share of the ultrasound devices market in 2017. This can be attributed to its increased use in acute and critical emergencies. On the flip side, the handheld/compact ultrasound devices segment is predicted to groe at a steady pace by 2026 due to its adoption by healthcare professionals.

By display, the color ultrasound devices segment held a larger share than its counterpart, black and white devices. This can be credited to superior image quality and high image resolution which makes it easier to discern the presence of injuries or diseases.

On the basis of application, the radiology/general imaging segment held the largest share of the ultrasound devices market, followed by cardiology in 2017. Increasing cases of cancer coupled with the boom witnessed in the geriatric populace are factors expected to drive segment growth exponentially.

Technology-wise, the diagnostic ultrasound segment is expected to reach 3.71% CAGR over the forecast period due to the extensive use of 2D ultrasound in women’s health. Availability of medical reimbursement policies is the main driver of the segment which can lead to its adoption in diagnostic centers and hospitals.

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The lack of invasion in the use of ultrasound devices has also become a key plus point for the market due to the growing obsession with minimally invasive and noninvasive medical procedures.

Therapeutic applications of ultrasound include targeting a specific patch of tissue for stimulation or removal by bombarding it with high-frequency sound waves. This application is also likely to remain a key factor for the global ultrasound devices market’s growth over the forecast period.

Regional Analysis:

The Americas is likely to be the major regional market for ultrasound devices over the forecast period due to the widespread adoption of advanced ultrasound technology in the region and the growing demand for advanced diagnostic modalities and devices.

Europe is also likely to remain a major regional market for ultrasound devices over the forecast period due to the growing healthcare expenditure in the region.

Asia Pacific is expected to exhibit the fastest growth over the forecast period due to the growing demand for advanced medical facilities and devices and the increasing investment in hospitals and medical technology.

The development of 3D and 4D Ultrasound Imaging Market has allowed for the diagnosis of congenital defects clearly and earlier in the pregnancy, which has made the procedures widely popular in the healthcare sector around the world. 4D imaging also allows live action viewing of the fetus, which allows physicians to detect more abnormalities. This is likely to be a major driver for the global ultrasound devices market over the forecast period.

About Market Research Future: MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

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