Growing Geriatric Population Devices Is Expected To Boost The Growth Of The Global Ultrasound Market During The Forecast Period

Ultrasound Market - Global Industry Analysis and Forecast 2021 to 2027

Global Ultrasound Market: Key Highlights

  • The ultrasound market is majorly segmented into technology, type, device display, application, and end-user
  • On the basis of technology, the market is sub-segmented into 2D ultrasound imaging, 3D and 4D ultrasound imaging, Doppler imaging and high-intensity focused ultrasound (HIFU). The 3D and 4D ultrasound imaging is excepted to hold the largest growth rate in the forecast period. as it is majorly used for abdominal applications, including the detection of abnormal fetus development, visualization of colon and rectum, as well as breast lesions
  • On the basis of region, the market is segmented into the Americas, Europe, Asia-Pacific, and Middle East & Africa
  • Americas accounted for the major market share with the growing technological advancements in the healthcare sector as well as the growing investments by the government
  • Top players that account for the major share include Analogic Corporation, ESAOTE SPA, FUJIFILM Holdings Corp, GENERAL ELECTRIC COMPANY, Hitachi, Ltd., Hologic Inc., Koninklijke Philips N.V., Samsung Electronics Co Ltd, SHIMADZU CORPORATION, Siemens Healthineers AG and among others.

Ultrasound MarketGlobal Ultrasound Market: Key Market Dynamics

  • The rising incidences of chronic disease are playing a significant role in the ultrasound market. As the incidences, as well as the prevalence of chronic diseases, is being rapidly rising throughout the world
  • The growing geriatric population is also lead to enhance the demand of the ultrasound market growth
  • Further, technological advancements in diagnostic ultrasound devices is a significant opportunity for market growth
  • However, the lack of skilled professionals is hindering the growth of the market.

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Global ULTRASOUND MARKET: Regional Overview

  • Americas:
    • The region is further divided into North America and Latin America. Globally, the Americas accounted for the major market share
    • Americas accounted for the major market share with the growing technological advancements in the healthcare sector as well as the growing investments by the government
    • The American Cancer Society has been projected that in 2017, more than 90,000 new cases of colon cancer, as well as 39,910 new cases of rectal cancer, will be diagnosed in the U.S. This will lead crate a key factor for the players operating in the U.S. market.
  • Asia-Pacific
  • Asia-Pacific region is segmented into five major countries including China, Japan, India, Australia, and South Korea
  • Asia-Pacific is projected to grow at the fastest growth rate, with the factors such as the presence of small companies in China and Japan, technological growth as well as the rising trend of research in academic organizations in the region
  • For example, the rising aging population in Japan and China, as well as growth in the technology, is like to portability and 3D ultrasound attached to smart devices, hence lead to boost the growth of the market
  • As per the United Nations in 2015, the number of older people aged 60 or above throughout the globe is predicted to increase more than by 50% between 2015 and 2030. Where the more than 60% of the older population out of the total global population would also reside in the Asia-Pacific region
  • As per the World Cancer Research Fund International, Japan ranks third among Asian countries in the prevalence of stomach cancer. Hence the high prevalence of target diseases, coupled with rising government support, lead to boost the growth opportunities in Japan.

Global Ultrasound Market: Key Players

Some of the key players operating in the Analogic Corporation, ESAOTE SPA, FUJIFILM Holdings Corp, GENERAL ELECTRIC COMPANY, Hitachi, Ltd., Hologic Inc., Koninklijke Philips N.V., Samsung Electronics Co Ltd, SHIMADZU CORPORATION, Siemens Healthineers AG and among others.

Global Ultrasound Market: Key Developments

  • In March 2020, Hitachi, Ltd had announced the launch of the ARIETTA 750, the new model from the ARIETTA’s diagnostic ultrasound platform series, as well as the start of its international sales.
  • In May 2020, Philips had received US FDA approval for its wide range of ultrasound solutions—such as EPIQ series, Affiniti series, Lumify, CX50, and Sparq diagnostic ultrasound systems to manage COVID-19, related lung and cardiac complications.
  • In April 2020, the Mindray Launches New Portable Ultrasound Systems ME Series to Combat COVID-19.

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