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Ultrasound Devices Market - Growth, Trends, and Forecast (2020 - 2025)

  • ID: 5174967
  • Report
  • August 2020
  • Region: Global
  • 110 pages
  • Mordor Intelligence
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until Dec 31st 2020
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FEATURED COMPANIES

  • GE Healthcare
  • Hologic Inc.
  • Koninklijke Philips NV
  • Siemens Healthineers
  • MORE
The propelling factors for the growth of the ultrasound devices market include the government and private funding for R&D in ultrasound imaging, an increasing number of healthcare providers, technological advancements, and increasing incidences of chronic diseases.
  • The incidences and prevalence of chronic diseases are rapidly increasing all around the world. Currently, affecting more than 14 million people around the world, the prevalence of cancer is becoming a major concern for the healthcare sectors across the world. The demand for ultrasound imaging devices is expected to rise, along with the demand for the early detection of disease and minimization of the cost of treating these chronic diseases. This also increases the number of diagnostic imaging procedures. Moreover, the rising geriatric population across the globe is expected to boost the market, as the aging population is more prone to chronic diseases.
  • The rising technological advancements, supported by the adoption of trusted associations, are expected to boost the market growth. Curtailment in the size of ultrasound devices has given the market a slight boost, if not a significant one. It has given the healthcare facilities a chance to replace old heavy devices with small devices. With the reduction in size of these devices, the problem of storage is solved, enabling the facilities to operate more efficiently with more number of devices.
Key Market Trends

3D and 4D Ultrasound Imaging Segment is Expected to Grow Fastest during the Forecast Period

3D and 4D ultrasound imaging take images at various angles, as compared to a single angle by 2D ultrasound. 4D ultrasound has added advantages of visualization and motion. It is widely used for abdominal applications, including the detection of abnormal fetus development, visualization of colon and rectum, detection of cancerous and benign tumors of prostate glands, and breast lesions, along with the flow of blood in various organs or a fetus. These ultrasounds are likely to experience substantial growth in the coming years, with the higher adoption of technologically advanced devices for better clinical decisions. Additionally, this segment is anticipated to gain more share and emerge as the fastest-growing segment during the forecast period.

The Doppler imaging ultrasound technique is widely adopted, due to its advancements, and is used to estimate the blood flow through blood vessels by high-frequency sound waves.

Asia-Pacific Holds the Largest Market Share and is Expected to Continue doing so over the Forecast Period

The Asia-Pacific region is expected to witness higher growth, due to the government and private funding for R&D and the increase in the number of healthcare providers. The ultrasound devices market in Asia-Pacific is anticipated to expand, due to the increase in awareness about ultrasound devices for diagnostic and therapeutic applications. Moreover, the expansion of the healthcare sectors in countries, such as China, Japan, and India, offers immense potential in this region. The growing aging population in Japan and China and technological advancements, like portability and 3D ultrasound attached to smart devices, have further fueled the growth of the market.

Competitive Landscape

The public and private companies are found investing in R&D of advanced innovative technologies in the field of ultrasound imaging, as it is becoming one of the fundamental aspects of healthcare. Some of the major companies investing in ultrasound devices are Philips, Siemens, SonoSite Inc., and Clarius. Their updated technological portable devices are praised globally, and these companies have a wide presence across the developed and emerging markets.

Reasons to Purchase this report:
  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • GE Healthcare
  • Hologic Inc.
  • Koninklijke Philips NV
  • Siemens Healthineers
  • MORE
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Number of Healthcare Providers
4.2.2 Technological Advancements
4.2.3 Increasing Incidences of Chronic Diseases
4.3 Market Restraints
4.3.1 Strict Regulations
4.3.2 Lack of Skilled Labor to Handle the Advanced Equipment
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Application
5.1.1 Anesthesiology
5.1.2 Cardiology
5.1.3 Gynecology/Obstetrics
5.1.4 Musculoskeletal
5.1.5 Radiology
5.1.6 Critical Care
5.1.7 Other Applications
5.2 By Technology
5.2.1 2D Ultrasound Imaging
5.2.2 3D and 4D Ultrasound Imaging
5.2.3 Doppler Imaging
5.2.4 High-intensity Focused Ultrasound
5.3 By Type
5.3.1 Stationary Ultrasound
5.3.2 Portable Ultrasound
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle-East and Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle-East and Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Fujifilm Holdings Corporation
6.1.2 GE Healthcare
6.1.3 Hitachi Medical Corporation
6.1.4 Mindray Medical International Ltd
6.1.5 Koninklijke Philips NV
6.1.6 Hologic Inc.
6.1.7 Siemens Healthineers
6.1.8 Canon Medical Systems Corporation

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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  • Fujifilm Holdings Corporation
  • GE Healthcare
  • Hitachi Medical Corporation
  • Mindray Medical International Ltd
  • Koninklijke Philips NV
  • Hologic Inc.
  • Siemens Healthineers
  • Canon Medical Systems Corporation
Note: Product cover images may vary from those shown
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