The global ultrasound market is projected to reach USD 6.92 million by the end of 2023, growing with a CAGR of 5.5% from 2017 to 2023. Ultrasound is a sound with frequencies higher than about 20 kHz. It moves in a wavelike manner through which it travels. The waves travel with different speed in different medium. The medical ultrasound system operates at higher frequencies, typically 1-10 MHz.
Ultrasound imaging is a medical imaging technique which uses high frequency sound waves and their echoes. It exposes body parts to high frequency sound waves in order to create images of the internal organs of the body. It does not use ionizing radiation. It provides a real time structure and movement of body’s internal organs and blood flowing through blood vessels. It helps in evaluation of symptoms such as swelling, pain, infection and hematuria. In addition, it is also used for guide procedures such as needle biopsies, guide biopsy of breast and diagnosis of various heart conditions. However, it cannot penetrate mature bones and substantial gas layers.
Figure: Global Ultrasound Market by Value 2015-2023
The report segments the global ultrasound market by technology, device display, device portability, and application. The technologies include diagnostic ultrasound and therapeutic ultrasound. Device displays include color devices, and black & white devices. The market by device portability is segmented into trolley/cart based devices and compact/handheld devices whereas the market by application is segmented into radiology/general imaging applications, obstetrics/gynecological applications, cardiological applications, urological applications, vascular applications, and other applications.
Geographic Coverage and Analysis:
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. Among the various regions covered, Europe dominated the global ultrasound market whereas the Asia-Pacific is projected to be the fastest growing region in the global ultrasound market during the forecast period.
The companies covered in the report include Koninklijke Philips N.V. (Netherlands), Toshiba Corporation (Japan), Siemens AG (Germany), Hitachi Ltd. (Japan), Samsung Electronics Co., Ltd. (South Korea), FUJIFILM Holdings Corporation (Japan), Esaote S.p.A. (Italy), Mindray Medical International Ltd. (China), and Analogic Corporation (U.S.).
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of ultrasound globally as well as regionally. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter’s five forces analysis and value chain analysis of ultrasound. Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the ultrasound market that will impact the demand during the forecast period.
Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. The report also provides in depth analysis of regulatory framework pertaining to ultrasound market. This will help the companies to understand the regulatory compliances, supports, barriers in the ultrasound market. This section highlights key amendments and their implication on ultrasound market in the short run as well as in the long run. This report will help manufacturers, suppliers and distributors of the ultrasound market to understand the present and future trends in this market and formulate their strategies accordingly.
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