A recent report published by Infinium Global Research on ultrasound devices market provides an in-depth analysis of segments and sub-segments in the global as well as regional ultrasound devices market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional ultrasound devices market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global ultrasound devices market. According to the report, the global ultrasound devices market is projected to grow at a CAGR of 5.2% over the forecast period of 2019-2025.
An ultrasound device creates images of the organs inside the body that the letter used for the medical examination. The machine uses high-frequency sound waves, which reflect off body structures. A computer receives the waves and uses them to create a picture. Ultrasound devices are useful in the detection of developing fetus (unborn baby), a person's abdominal and pelvic organs, muscles and tendons, or their heart and blood vessels.
Increasing cases of chronic diseases are one of the major factors contributing to the growth of the market. The prevalence of chronic diseases such as cancer, brain disorders, and cardiovascular diseases has increased with a significant rate in the last decade. Early detection of the symptoms of diseases in such a situation becomes important to treat the patient with the right medicines, here the ultrasound devices play an important role. Moreover growing disease diagnosis rate all over the world is another major factor contributing to the growth of the market, one of the common reasons for this is a rising rate of childbirth in developing countries. Additionally, a rising number of routine medical checkups and an increasing number of detection for cancer tumors, abnormal tissue growth, kidney stones, and liver functioning are also contributing to the growth of the market. On the other hand, the high cost associated with the instruments and lack of trained technicians can hamper the growth of the market. However, rising awareness about chronic diseases and early diagnosis of the disease will provide better opportunities to the market.
Geographically, the ultrasound devices market is segmented into North America, Europe, Asia-Pacific, and Row. North America dominates the global market and anticipated to stay on top in the forecast period. Rising funding from government and private sectors for the technological advancements of the ultrasonic devices, improved healthcare infrastructure and presence of big market players are contributing to the growth of the market. The market in Europe is anticipated to grow with a significant rate in the forecast period. Asia-Pacific region is expected to grow at a high CAGR. Growing awareness about early detection of disease, improving health care infrastructure and large patient pool is contributing to the growth of the market.
The report on global ultrasound devices market covers segments such as technology, portability, application, and end user. On the basis of technology, the sub-markets include diagnostic ultrasound, and therapeutic ultrasound. On the basis of portability, the sub-markets include trolley/cart-based ultrasound devices, and compact/handheld ultrasound devices. On the basis of application, the sub-markets include radiology/general imaging, cardiology, gynecology, vascular, urology, and other application. On the basis of end user, the sub-markets include hospital and surgical centers, diagnostic centers, ambulatory surgical centers, and other end users.
The report provides profiles of the companies in the market such as Fujifilm Sonosite, Inc., GE Healthcare, Hitachi Ltd, Fukuda Denshi, Shenzhen Mindray, Canon Medical Systems Corporation, Koninklijke Philips N.V., Samsung Medical, Siemens Healthineers, Mindray Medical International Limited, and other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into 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 DRO analysis of ultrasound devices market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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