The Global Ultrasound Devices Market size is expected to reach $10.6 billion by 2024, rising at a market growth of 5.6% CAGR during the forecast period. Ultrasound is one of the various medical imaging modalities present in the market. An ultrasound system uses high frequency sound waves to visualize the internal organs of the body. An ultrasound system is equipped with a probe, which transmits the high frequency ultrasonic sound waves into the body of the patient. These sound waves are then reflected back by the body organs into the probe. These transmitted waves are then taken to a display machine, which generates the image with the help of echoes. Ultrasound systems are used to visualize liver, kidneys, blood vessels, heart, human fetus and other organs.
The key factors that drive the market growth include large number of technological advancements (such as 3D & 4D imaging) in ultrasound systems, increased prevalence and incidence rates of chronic diseases (such as heart disease, stroke, type II diabetes, and cancer), increasing number of ultrasound diagnostic imaging procedures, demand for minimal invasive therapies, and rise in awareness for early disease diagnosis. In addition to this, rising public and private investments, grants and funds for the development of more advanced ultrasound devices as well as to create awareness about the advantages offered by these devices are driving the market growth. Conversely, dearth of skilled and experienced sonographers around the world is a major factor restraining the market growth.
Based on Product Type, the market is segmented into Diagnostic Ultrasound Systems, Therapeutic Ultrasound Systems. Diagnostic type is further sub segmented into 2D Imaging Systems, 3D & 4D Imaging Systems and Doppler Imaging. Therapeutic Ultrasound Systems type is bifurcated into High-Intensity Focused Ultrasound (HIFU) and Extracorporeal Shockwave Lithotripsy (ESWL). Based on device display, the market is segmented into Colour Ultrasound Devices and Black & White (B/W) Ultrasound Devices. Based on Device Portability, the market is segmented into Trolley/Cart-Based Ultrasound Devices and Compact/Handheld Ultrasound Devices. Based on the Application, the market is segmented into Radiology/General Imaging, Cardiology, Obstetrics/Gynecology, Vascular, Urology and Others. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Analogic Corporation, Esaote SpA, Fujifilm Corporation, General Electric Company, Hitachi, Ltd., Koninklijke Philips N.V., Mindray Medical International Limited, Samsung Medison Co. Ltd., Siemens Healthcare, and Toshiba Corporation.