Ultrasound Market To Reach USD 10.44 Billion By 2027 – Reports and Data
Growth in chronic diseases, increasing investments by governments, and advancements in technology are driving the market for Ultrasound.
The global Ultrasound Market is forecasted to reach USD 10.44 Billion by 2027, according to a new report by Reports and Data. Increase in the prevalence of chronic disease across the globe, coupled with rising population, has increased the demand for ultrasound market. The growing geriatric population is prone to diseases and fractures that affect the growth of the market positively.
The growing incidence of chronic diseases is increasing rapidly all across the globe. The prevalence of cancer has become a major concern for the healthcare sectors in the world. The demand for ultrasound imaging is expected to rise owing to high demand for early detection of diseases and minimization of the cost of treatments.
The government in Europe are focusing on supporting and promoting industrial research. It has provided several tax incentives to establish R&D units, with high technologically advanced ultrasound facilities. Increasing investment by the European government in its healthcare sector and goal to develop non-invasive and safe technologies to promote therapies of diseases, injuries, and other abnormalities are propelling the demand in the region.
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In March 2018, GE Healthcare and Trice Imaging expanded their partnership for software enhancements and developments to be made for GE’s LOGIQ E10 ultrasound system. The Tricefy system has been built into GE’s OB/GYN ultrasound system since 2016.
Further key findings from the report suggest
- An increase in the birth rate in countries such as Russia and Germany will boost market demand in the coming years. Diagnostic ultrasound has the ability to detect anomalies in babies inside the womb.
- Doppler ultrasound uses high-frequency sound waves to measure the amount of blood flow in patient’s arteries and veins. It has a hand-held scanner connected to a computer. The procedure is non-invasive, painless, does not use radiation, and there are no risks known as of yet.
- Mobile devices are being rapidly adopted in the developing nations owing to the rising demand for ambulatory care. The demand for handheld ultrasound devices are high in the developed region, such as the U.S.; there is a rising demand for mobile ultrasound devices. The growing trend of ambulatory care is driving the demand for this device.
- Rising incidence of obesity, unhealthy food consumption, and stressed lifestyle increase the odds of a cardiac related issues. Increase in investment in healthcare and support via healthcare insurance from government are encouraging people to go for checkups and lead a healthy lifestyle.
- Hospitals dominated the market for ultrasound. Rise in minimally invasive surgical and diagnostic procedures and growing number of hospitals are propelling the segment demand. Large number of ultrasound procedures are done in the hospitals only.
- High growth of the market in North America is attributed to the growing prevalence of chronic ailments along with rising awareness among people related to early disease diagnosis. The availability of advanced technologies and healthcare facilities will surge the demand for the market product in the coming years.
- Key participants include Siemens AG, Esaote, Analogic Corporation, FUJIFILM Holdings Corporation, Samsung Electronics, General Electric Company, Carestream Health, Hologic, Canon Medical Systems Corporation, and Mobisante, Inc., among others.
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For the purpose of this report, Reports and Data have segmented into the global Ultrasound Market on the basis of technology, type, applications, end-users, and region:
Technology Outlook (Revenue, USD Billion; 2016-2027)
- Therapeutic Ultrasound
- Diagnostic Ultrasound
Type Outlook (Revenue, USD Billion; 2016-2027)
- Stationary Ultrasound
- Portable Ultrasound
Applications Outlook (Revenue, USD Billion; 2016-2027)
- Cardiology Applications
- Vascular Applications
- Radiology/General Imaging Applications
- Urological Applications
- Pain Management Applications
- Orthopedic and Musculoskeletal Applications
End-Users Outlook (Revenue, USD Billion; 2016-2027)
- Ambulatory Care Centers
- Maternity Centers
- Hospitals and Diagnostic Centers
- Research and Academia
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Regional Outlook (Revenue, USD Billion; 2016-2027)
- North America
- Asia Pacific
- Latin America
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