Ultrasound Equipment Market is Estimated to Achieve $ 10 Billion by 2026
Acumen Research and Consulting estimates that this new round of Ultrasound Equipment Market will top $10 billion by 2026, representing an average annual growth rate of 6.3 percent from forecast period 2019 to 2026.
Ultrasound is a medical imaging technology that uses sound waves to produce pictures of body’s inside part. It helps to diagnose swelling, pain, and infection in internal organs and to examine a baby in pregnant women. Ultrasound is also assist in performing types of biopsy and for therapeutic purpose. The equipment has a small probe, a transducer and gel placed on the skin. High-frequency sound waves travel through the gel from the probe into the body. The probe collects the sounds that bounce back from the internal organs. A computer system uses these sound waves to create an image. The image produced by the system can be color or black & white based on the technology. Ultrasound does not use radiations as used in x-rays and hence the procedure is safe and painless.
Acumen Research and Consulting, Recently Published Report on titled “Ultrasound Equipment Market Size, Share, Growth Opportunities and Forecast, 2019 - 2026”
F Download Free Sample Report Pages for Better Understanding@ https://www.acumenresearchandconsulting.com/request-sample/1641
North America dominated the global ultrasound equipment market in 2018 and is anticipated to maintain its dominance during the forecast period. This can be attributed to local presence of major market players, technological advancement in the field increases the efficiency and accuracy of the test, high healthcare awareness, and supportive reimbursement for diagnostic testing. Furthermore, increasing demand from low and middle income countries from the regions of Asia Pacific and Latin America are likely to propel the market growth during the forecast period. Asia pacific is expected to grow at the fastest rate during the forecast period due to investment by market players, development by local companies, increasing awareness about ultrasound techniques, growing number of well-equipped hospitals and diagnostic laboratories, and large population base. India, China, and Japan are the major contributing countries in this region. However, distribution challenges and shortage of skilled medical personal are some of the limiting factors of this region.
Based on portability, the ultrasound equipment market is segmented into trolley/cart based, compact, and handheld ultrasound. Trolley or cart based ultrasound equipment accounted for the largest share of the market in 2018. However, handheld ultrasound equipment segment is anticipated to grow at the fastest rate and will gain more share during the forecast period. Increasing interest in these devices due to ease of application and comparatively lower in cost than trolley & compact devices and introduction of several new products are the key factors for the growth of the segment during the forecast period.
Based on application, the market has been segmented into obstetrics/gynecology, general imaging, vascular applications, cardiologic applications, orthopedic applications, urological applications, pain management, and other applications. General imaging accounted for the largest share of the market in 2018. Technological advancement, rising cancer incidence, and the increasing adoption of focused ultrasound for disease therapies are boosting the application of ultrasound equipment for general imaging.
Based on the type of equipment display, the market is divided into black & white ultrasound equipment and color devices. This can be attributed to high adoption of technologically advanced ultrasound equipment and growing awareness about advantages associated with color equipment.
Based on technology, the market is further divided into therapeutic ultrasound and diagnostic ultrasound. The diagnostic segment accounted for the largest share of the market in 2018 due to significant usage of 2D ultrasound in women’s health and the growing applications of emerging ultrasound techniques.
Related Reports:
- Diagnostic Ultrasound Market - The global market is expected to grow at noteworthy CAGR around 4% throughout the forecast period and reach around US$ 7 billion by 2026.
- Portable Medical Devices Market - The global market size is anticipated to reach USD 86.3 billion by 2026, registering at a CAGR growth of 9.2% over the forecast period 2019 to 2026.
- Ultrasound Devices Market Analysis - Global Industry Size, Share, Trends and Forecast, 2014 - 2024
Major players operating in the ultrasound equipment market in 2018 are GE Healthcare, Philips Healthcare, Toshiba Medical, Hitachi-Aloka Medical, Siemens Healthineers, Mindray, Samsung Medison, Fujifilm Sonosite, Esaote,and Analogic. Introduction of innovative devices and partnerships or collaborations for development, manufacture, and commercialization of devices are the key strategies being adopted by the major market players.
For Exclusive Discount Offers !!! Contact Us, sales@acumenresearchandconsulting.com | +1 407 915 4157
Some of the key observations regarding the ultrasound equipment industry include:
- In November 2019, Philips Healthcare launched EPIQ Elite Ultrasound System for obstetrics &gynecology and general imaging. This system combines the latest advances in transducer innovation and thereby enhanced performance to improve the patient experience and clinical confidence.
- In October 2019, Siemens launched an ultrasound system, Acuson Redwood for multiple departments including cardiology, radiology, and obstetrics/gynecology. Acuson Redwoodis portable and lightweight with many artificial intelligence-based tools for smart workflows. The system holds approval from the U.S. FDA and European Union (CE mark).
- In September 2019, Butterfly Network, Inc. launched new ultrasound technology that turns smartphone into an ultrasound machine in the U.K.
- In September 2019, PIUR Imaging GmbH launched portable tomographic ultrasound system in the European market. PIUR tUS Infinity is a wireless vesion of its tomographic ultrasound system that provides high resolution tomographic imaging.
- In August 2019, Hologic, Inc. acquired 46% shares of French ultrasound company, SuperSonic Imagine to expand its ultrasound imaging portfolio with the addition of new competitive technologies and ultrasound equipment.
- In May 2019, Canon Medical launched a new line of ultrasound systems, the Aplio a-series that delivers high performance for various clinical applications at an affordable price.