Ultrasound Imaging Devices Market Future Trends
Ultrasound imaging devices market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 6.1% in the forecast period of 2020 to 2027 and is expected to reach USD 11,588.20 million by 2027. The rising awareness towards early disease diagnosis and technological advancement in ultrasound imaging devices are the major drivers which propelled the demand of the market in the forecast period..
Ultrasound imaging devices can be described as the devices that take images of the inside of the body using the high frequency sound waves. Ultrasound system uses the technique of ultrasonic imaging technique. Ultrasound devices can create real-time images of the body component, which can display the movement of the body. Ultrasound system consists of a transducer and ultrasound detector, or probe. This diagnostic technique is minimally invasive and does not use the ionizing radiation to diagnose or treat the body ailments.
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Ultrasound imaging devices demand has increased as compared to the precise year with increased demand of minimally invasive diagnostic and therapeutic uses of ultrasound imaging devices along with introduction of increased technologically advanced ultrasound devices. In addition, the demand of ultrasound imaging devices has increased because of government initiatives to increase awareness about importance of early diagnosis. Further the high cost of ultrasound devices is expected to restraint the usage of ultrasound imaging devices and is expected to slow down the growth of the ultrasound imaging devices market in the forecasted period. Global Ultrasound Imaging Devices Market, By Array Format (Phased Array, Linear Array, Curved Linear Array and Others), Device Display (Color Ultrasound Devices and Black and White (B/W) Ultrasound Devices), Device Portability (Trolley/Cart-Based Ultrasound Devices, Compact/Handheld Ultrasound Devices, Stationary Ultrasound Devices and Point-of-Care Ultrasound Devices), Technology (Diagnostic Ultrasound and Therapeutic Ultrasound), Application (Radiology/General Imaging, Obstetrics and Gynecology, Cardiovascular, Gastroenterology, Vascular, Urological, Orthopedic and Musculoskeletal, Pain Management, Emergency Department, Critical Care and Others), End User (Hospitals, Surgical Centers, Research and Academia, Maternity Centers, Ambulatory Care Centers, Diagnostic Centers and Others), Distribution Channel (Direct Tender, Third Party Distributors and Retail Sales), Country (U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Switzerland, Netherlands, Belgium, Russia, Turkey and rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines and rest of Asia-Pacific, Brazil, Argentina and rest of South America, South Africa, Saudi Arabia, U.A.E., Israel, Egypt and rest of Middle East and Africa) Industry Trends and Forecast to 2027
The ultrasound imaging devices market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Ultrasound imaging devices market is segmented on the basis of array format, device display, device portability, technology, application, end user and distribution channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
· On the basis of array format, the market is segmented into phased array, linear array, curved linear array and others. In 2020, curved linear array segment is dominating in the market as it provides a wider field of view with decreased line density at depth and reduced lateral resolution. Hence, it is used in wide variety of applications including abdominal examinations, transvaginal and transrectal examinations as well as diagnostic imaging of organs.
· On the basis of device display, the market is segmented into color ultrasound devices and black and white (B/W) ultrasound devices. In 2020, color ultrasound devices segment is dominating the market as the most of the available systems have acceptable image quality with a color flat screen monitor irrespective of the features. For instance, devices with the features of auto image optimization, auto color & doppler need a color display and cannot function through a black and white display.
· On the basis of device portability, the market is segmented into trolley/cart-based ultrasound devices, compact/handheld ultrasound devices, stationary ultrasound devices and point-of-care ultrasound devices. In 2020, trolley/cart-based ultrasound devices segment is dominating the market owing to high use in acute care and emergency care settings in hospitals and healthcare institutions. As these systems help in availing diagnosis at patient location, it also leads to improved patient throughput. These systems have also gained popularity in the emergency departments and critical care settings as patients are sensitive to movement.
· On the basis of technology, the market is segmented into diagnostic ultrasound and therapeutic ultrasound. In 2020, diagnostic ultrasound segment is dominating the market as a non-invasive procedure that provides significant insights for the soft tissues without exposing patients to ionizing radiation. As a result, it is the most preferred medium of diagnosis in gynecology and obstetrics. It offers more realistic and complete imaging of internal organs. Moreover, ultrasound is less expensive as compared to CT, MRI and hysterosalpingogram making them less accessible to a major share of patients.
· On the basis of application, the market is segmented into radiology/general imaging, obstetrics and gynecology, cardiovascular, gastroenterology, vascular, urological, orthopedic and musculoskeletal, pain management, emergency department, critical care and others. In 2020, radiology/general imaging segment is dominating the market as ultrasound is primarily used in diagnosis of unexplained pain, swelling and infection to locate the source and proceed with necessary treatment. Ultrasound is also used as imaging guidance in procedures such as needle biopsies in which needles are used to sample cells from an abnormal area for laboratory testing.
· On the basis of end user, the market is segmented into hospitals, surgical centers, research and academia, maternity centers, ambulatory care centers, diagnostic centers and others. In 2020, hospitals segment hold the largest market share as most of the patients need to visit hospitals in case of any sign of discomfort. Any unexplained pain usually leads patients to emergency rooms of hospitals where they undergo diagnostic tests to understand the source of discomfort. Based on the severity of the case, patients are admitted to the hospital for more aggressive treatments. Moreover, the number of hospitals is well-equipped as compared to those of diagnostic centers and other care providers
· On the basis of distribution channel, the market is segmented into direct tender, third party distributors and retail sales. In 2020, direct tender segment is dominating in the market as the primary source of procurement in hospitals. With the increasing cost of healthcare, hospitals are focusing on better services for customers along with reducing the overall cost. Procurement of ultrasound imaging devices through direct tender is highly cost effective for healthcare providers as they are bought in bulk under terms of contract for service. Moreover, the availability of products also helps the providers in offering superior services to customers.
The ultrasound imaging devices market is analysed and market size information is provided by array format, device display, device portability, technology, application, end user and distribution channel.
The countries covered in the ultrasound imaging devices market report are the U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Switzerland, Netherlands, Belgium, Russia, Turkey and rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines and rest of Asia-Pacific, Brazil, Argentina and rest of South America, South Africa, Saudi Arabia, U.A.E., Israel, Egypt and rest of Middle East and Africa.
North America is expected to dominate the market due to the high adoption of ultrasound imaging devices across well-equipped healthcare facilities majorly in the U.S. region and Asia-Pacific is expected to grow with the highest CAGR in the forecast period due to increasing number of healthcare facilities complemented with large population and increasing income in the countries. China is dominating in Asia-Pacific market due to increasing number of hospitals with subsequent demand for ultrasound imaging equipment. Europe is expected to grow with the second highest growth rate in the forecast period of 2020 to 2027 due to presence of superior payer systems leading to notable patient access to ultrasound services. Germany is dominating the European market with the well-established public healthcare infrastructure funded by social security contributions.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Increasing Partnership and New Product Launch in Ultrasound Imaging Devices is Creating New Opportunities for Players in the Ultrasound Imaging Devices Market
Ultrasound imaging devices market also provides you with detailed market analysis for every country growth in particular industry with ultrasound imaging devices sales, impact of advancement in the ultrasound imaging devices and changes in regulatory scenarios with their support for the ultrasound imaging devices market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Ultrasound Imaging Devices Market Share Analysis
Ultrasound imaging devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to ultrasound imaging devices market.
The major players covered in the report are GE Healthcare (A Subsidiary of GENERAL ELECTRIC), Hitachi, Ltd., Trivitron Healthcare, Hologic Inc., Siemens Healthcare GmbH, ESAOTE SPA, ALPINION MEDICAL SYSTEMS Co., Ltd, FUJIFILM Corporation (A Subsidiary of Fujifilm Holdings Corporation), FUKUDA DENSHI, Koninklijke Philips N.V., EDAN Instruments, Inc., Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Shimadzu Medical Systems USA Northwest Branch (A subsidiary of Shimadzu Corporation), CANON MEDICAL SYSTEMS CORPORATION (A subsidiary of Canon Inc.), CHISON, Mobisante, SonoScape Medical Corp., SAMSUNGHEALTHCARE (A subsidiary of SAMSUNG ELECTRONICS CO., LTD.) among other domestic and global players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product launch and agreement are also initiated by the companies’ worldwide which are also accelerating the ultrasound imaging devices market.
For instance,
· In August 2019, ESAOTE SPA launched its new and high performance, versatile platform named MyLab X8 in cardiology at the European Congress of Cardiology, ESC 2019. This new product launch increased the product portfolio offered by ESAOTE SPA, thereby helped in attracting consumer towards its product.
· In March 2019, CHISON launched its ultrasound device with AI capabilities named SonoAI of the Matrix series and with showcasing of the wide variety of high-end intelligent color doppler ultrasound with artificial intelligence at ECR 2019 in Australia. This new product launch increased the product portfolio of CHISON along with its increased market demand and increased sales in the future.
Collaboration, joint ventures and other strategies by the market player is enhancing the company market in the ultrasound imaging devices market which also provides the benefit for organisation to improve their offering for PH sensors.
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