As indicated by Acumen Research and Consulting, the global diagnostic ultrasound market size is evaluated to reach around US$ 7 billion with a CAGR over 4% over the estimate time frame. rising occurrences of chronic diseases, various advantages offered by diagnostic ultrasounds, rapidly increasing geriatric population base, elderly population highly prone to diseases due to various functional and structural changes, ever-increasing birth rates in various countries such as Germany and Russia and increasing technological advancements are some of the main factors that are driving the diagnostic ultrasound market growth across the globe. Diagnostic ultrasound is an ultrasound application based method. This technique is used to create an image of structures of internal body such as muscles, blood vessels, tendons, joints and other internal organs. The North America market is likely to grow at highest CAGR due to the rising usage of advanced electronics equipment in medical devices, increasing incidences of chronic diseases, growing awareness among people towards early disease diagnosis and ongoing technological advancements. Availability of advanced healthcare facilities is also helping the regional market to grow rapidly.
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Doppler Technology Segment is Also Anticipated to Witness a Significant Demand over the Forecast Period
On the basis of technology, the diagnostic ultrasound market is segmented into cardiology, general imaging and obstetrics/gynecology. Doppler technology segment is anticipated to grow at high growth rate over the forecast period owing to the growing adoption of this technology in several applications such as X-ray angiography as Doppler technology eliminates the requirement for injecting patients with different dye. Diagnostic ultrasounds are broadly adopted by automotive sector owing to growing need to reduce road accidents. Moreover, escalating use of doppler ultrasound for blood flow estimation and pressure is anticipated to fuel the market growth over the forecast period. On the other hand, 3D and 4D technology segment is anticipated to contribute significant revenue share owing to the growing adoption of 3D technology in detection of breast cancer. Also, various advantages provided by 4D ultrasound technology such as capability of high volume data storage, shorter duration for serious heart diagnosis, remote diagnosis and better identification of fetal diseases are boosting the demand for diagnostic ultrasound and hence, supplementing the growth of the global market.
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North America to Dominate the Overall Market during the Forecast Period
Geographically, the global diagnostic ultrasound market has been divided into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. North America is anticipated to dominate the overall market in 2017 and expected to grow at substantial growth rate over the forecast period owing to the rising usage of advanced electronics equipment in medical devices, increasing incidences of chronic diseases, growing awareness among people towards early disease diagnosis and ongoing technological advancements. Growing expansions in the clinical applications and large number of ongoing clinical research projects in the ultrasound field. Moreover, increasing investments in order to improve healthcare amenities in emerging countries will further positively impact the growth of regional market. Asia Pacific is also forecasted to grow at highest rate during the forecast period owing to the rapid growth in the healthcare industry and increasing occurrences of cardiovascular diseases. Additionally, early adoption of advanced diagnosis technologies and advancements in ultrasound techniques is anticipated to boost the regional market growth throughout the forecast period. Presence of large number of hospitals and development of innovative imaging technique are some of the fundamental factors helping the growth of the global diagnostic ultrasound market.
Shantou Institute of Ultrasonic Instruments, GE Healthcare, Shenzhen Mindray Bio-Medical Electronics and Siemens Healthcare are Likely to Continue to Lead the Global Diagnostic ultrasound Market
The diagnostic ultrasound market is consolidated with limited number of manufacturers. The company profiling of key players in the market includes company overview, major business strategies and revenues. The key players of the market are Arthrex, Chison, C.R. Bard, FujiFilm, Analogic, SonoScape Medical, Fukuda Denshi, Promed, Shantou Institute of Ultrasonic Instruments, GE Healthcare, Esaote, Sunway Medical, Hitachi, Kalamed, Mobisante, Shenzhen Mindray Bio-Medical Electronics, Samsung Electronics, Koninklijke Philips, Shenzhen Landwind Industry, TELEMED Medical Systems, Siemens Healthcare and Toshiba Medical Systems.
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