Ultrasound Market Global Trends, Market Share, Industry Size, Growth, Opportunities, and Market Forecast 2019 to 2026

Ultrasound Market Global Trends, Market Share, Industry Size, Growth,
Opportunities, and Market Forecast 2019 to 2026
The global ultrasound market is estimated to value over 8 billion and register a CAGR
of over 4.9% from the forecast period 2019-2026.
Increasing prevalence of infectious and chronic diseases such as cancer and
cardiovascular diseases are the major factors propelling the ultrasound market.
Increasing demand for non-invasive and invasive diagnostic procedures alongside
rising geriatric population worldwide has boosted the market. Technological
advancements and rising cases of injuries on joints, muscles and tendons is fueling
the growth of the ultrasound market. Growing adoption of high-efficiency imaging
products and rapid expansion of hospitals is bolstering the market as well.
The market is bifurcated into technology, device display, system portability,
application, end-user, and region. Based on technology, diagnostic ultrasound is
expected to dominate the market growth. Diagnostic ultrasound consists of 2D, 3D,
4D, and Doppler ultrasound. A rise in demand for 2D ultrasound owing to
technological advancements and favorable medical reimbursements has positively
influenced the market. The emergence of a large number of growing applications of
ultrasound techniques is boosting the market further.
In terms of system, portability trolley/cart-based is expected to hold a significant
share of the market. Rising adoption of trolleys in emergency care in hospitals and
acute care settings is stimulating the market.
Based on application, radiology is expected to dictate the market growth owing to
technological advancements and rising cases of cancer globally. In addition,
increasing adoption of tissue biopsy and ultrasound cancer diagnosis is driving the
market.
In terms of end-user, hospitals, diagnostic centers, and surgical centers are expected
to witness significant growth owing to the growing number of hospitals worldwide.
The rise in the number of ultrasound-based and minimally invasive procedures is
boosting the market. The rapid expansion of hospitals in developed economies
alongside favorable government initiatives is fueling the growth of the market as
well.
Based on the region, North America is the global leader of the market. Easy
accessibility, high adoption of advanced diagnostic equipment and rising healthcare
expenditure in countries like Canada and the US are stimulating the market in the
region. Europe is expected to show significant growth, owing to increasing research
projects in the field of ultrasound, which strengthens the market position in the
region. The significant healthcare expenditure in countries such as France, Germany,
Italy, Spain, and the UK is bolstering the market.
Prominent players of the market are FUJIFILM Holdings Corporation, Shimadzu
Corporation, Chison Medical Imaging, Hologic, Carestream, Mobisante, Mindray
Medical International Ltd, Hitachi, Siemens AG, Philips, Samsung Electronics and
General Electric Company.
Competitive Landscape:
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Hologic, in 2018 decided to collaborate with Clarius in order to bolster its
handheld and wireless ultrasound scanner in North America
Canon Medical Systems acquired the healthcare unit of Toshiba Corporation in
order to expand its healthcare business worldwide
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Global Ultrasound Market Segmentation
By Device Display
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Colour Ultrasound
Black and White (B/W) Ultrasound
By System Portability
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Trolley/Cart-based Ultrasound Systems
Compact/Handheld Ultrasound Systems
Point-of-Care Ultrasound Systems
By Application
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Radiology/General Imaging
Cardiology Applications
Obstetrics/Gynecology
Vascular Applications
Urological Applications
Orthopedic and Musculoskeletal Applications
Pain Management Applications
By End-User
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Hospitals, Surgical Centers and Diagnostic Centers
Maternity Centers
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Ambulatory Care Centers
Research and Academia
By Region
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North America
Europe
Asia Pacific
Latin America
Rest of the World
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FutureWise Key Takeaways
● Growth Prospects
● SWOT Analysis
● Key Trends
● Key data-points affecting market growth
Objectives of the Study:
• To provide with an exhaustive analysis on the global ultrasound market by device
display, by system portability, by application, by end-users, and by region
• To cater to comprehensive information on factors impacting market growth
(drivers,
restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)—North America,
Europe, Asia Pacific, Latin America and rest of the world
• To record evaluate and competitive landscape mapping- product launches,
technological advancements, mergers, and expansions
• Profiling of companies to evaluate their market shares, strategies, financial and
core
competencies
Table of Contents
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Years Considered for the Study
1.4 Currency Used for the Study
1.5 Market Stakeholders
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Research
2.1.2 Primary Research
2.2 Market Estimation Methodology
2.2.1 Revenue-Based Market Estimation
2.2.2 End-User Based Market Estimation
2.2.3 Primary Research Validation
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions
2.5 Research Limitations
3 Executive Summary
4 Premium Insights
4.1 Ultrasound: Market Overview
4.2 Ultrasound Market, By Technology, 2018 vs 2023, (USD Million)
4.3 Market, By Type, 2018 vs 2023, (USD Million)
4.4 Market, By Type, 2018 vs 2023, (USD Million)
4.5 Market, By Device Display, 2018 vs 2023, (USD Million)
4.6 Ultrasound Market, By System Portability, 2018 vs 2023, (USD Million)
4.7 Market, By Application, 2018 vs 2023, (USD Million)
4.8 Ultrasound Market, By End User, 2018 vs 2023, (USD Million)
4.9 Market: Geographical Snapshot
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Prevalence of Target Diseases
5.2.1.2 Rising Patient Preference for Minimally Invasive Procedures
5.2.1.3 Technological Advancements
5.2.1.4 Growing Public and Private Investments, Funding, and Grants
5.2.1.5 Increasing Number of Diagnostic Centers & Hospitals
5.2.2 Restraints
5.2.2.1 Stringent Government Regulations
5.2.3 Opportunities
5.2.3.1 Expanding Applications of Therapeutic Ultrasound
5.2.3.2 Emerging Markets
5.2.3.3 Advent of POC Ultrasound Devices
5.2.4 Challenges
5.2.4.1 Growing End-User Preference for Refurbished Equipment
5.2.4.2 Dearth of Skilled and Well-Trained Sonographers
5.3 Industry Trends
5.3.1 Development of Application-Specific Ultrasound Devices
5.4 Pricing Trend Analysis (2015-2017)
5.4.1 North America
5.4.2 Europe
5.4.3 Asia Pacific
5.4.4 Rest of the World
6 Ultrasound Market, By Technology
6.1 Introduction
6.2 Diagnostic Ultrasound
6.2.1 2D Ultrasound
6.2.1.1 Strong Market Demand in Less-Developed and Emerging Countries
to Sustain Revenue Growth of 2D Ultrasound Manufacturers
6.2.2 3D and 4D Ultrasound
6.2.2.1 Greater Diagnostic Accuracy & Improved Imaging Capabilities to
Boost the Global Market Demand for 3D Ultrasound
6.2.3 Doppler Ultrasound
6.2.3.1 Growing Applications in Pain Management, Emergency Care, and
Cardiovascular Imaging to Drive Doppler Ultrasound Market Demand
6.3 Therapeutic Ultrasound
6.3.1 Shockwave Lithotripsy
6.3.1.1 Greater Patient Emphasis on Minimally Invasive Treatment of
Kidney & Gall Bladder Stones to Replicate Into Higher Demand for Lithotripsy
Products
6.3.2 Focused Ultrasound
6.3.2.1 Greater Clinical Evidence to Establish the Safety & EffiCACy Profile
for Various Cancer Treatment to Drive Adoption of Focused Ultrasound
7 Ultrasound Market, By Device Display
7.1 Introduction
7.2 Color Ultrasound
7.2.1 Greater Market Availability of Advanced Color Ultrasound Devices to Drive
Their Market Growth Till 2023
7.3 Black and White (B/W) Ultrasound
7.3.1 APAC to Register Sustained Market Demand for B/W Ultrasound Products
During the Study Period
8 Ultrasound Market, By System Portability
8.1 Introduction
8.2 Trolley/Cart-Based Ultrasound Systems
8.2.1 Increased Usage for Acute Care & Emergency Care Among Providers to
Drive the Market Demand for Trolley Based Systems
8.3 Compact/Handheld Ultrasound Systems
8.3.1 Procedural & Technical Benefits as Well as Device Affordability to Drive
Greater Adoption of Compact Ultrasound
8.4 Point-of-Care (POC) Ultrasound Systems
8.4.1 Improved Operational & Clinical EffiCACy to Boost POC Market Growth
9 Ultrasound Market, By Application
9.1 Introduction
9.2 Radiology/General Imaging Applications
9.2.1 Greater Adoption in Image-Guided Surgery/Radiology Procedures to Drive
Market Demand
9.3 Cardiology Applications
9.3.1 Rising Prevalence of Cardiac Disorders Across Major Healthcare Markets
Will Drive the Market
9.4 Obstetrics/Gynecology Applications
9.4.1 Rising Demand for Uterine Fibroid and Obstetric Application to Boost
Market Demand
9.5 Vascular Applications
9.5.1 Vascular Application to Be the Fastest-Growing Application Segment in the
Ultrasound Industry
9.6 Urological Applications
9.6.1 Greater Patient Emphasis on Minimally Invasive Medical Procedures to
Boost Market Revenues
9.7 Orthopedic and Musculoskeletal Applications
9.7.1 Rising Patient Preference for Effective & Early Disease Diagnosis to Boost
Market Growth
9.8 Pain Management Applications
9.8.1 Ultrasound Devices are Increasingly Being Utilized for Trauma & Emergency
Care Applications
9.9 Other Applications
10 Ultrasound Market, By End User
10.1 Introduction
10.2 Hospitals, Surgical Centers, and Diagnostic Centers
10.2.1 Significant Number of Ultrasound-Based Medical Procedures Performed
Among Major Providers
10.3 Maternity Centers
10.3.1 Increased Usage of 3D, 4D, and Doppler Ultrasound for OB/GYN
Applications
10.4 Ambulatory Care Centers
10.4.1 Increasing Number of Minimally Invasive & Emergency Medical
Procedures Performed By Accs
10.5 Research and Academia
10.5.1 Growing Number of Industry-Academia Collaborations to Develop Novel
Ultrasound Products
10.6 Other End Users
11 Ultrasound Market, By Region
11.1 Introduction
11.2 Europe
11.2.1 Germany
11.2.1.1 Expansion of Application Horizons to Driver Market in the
Country
11.2.2 France
11.2.2.1 Growing Patient Emphasis on Minimally Invasive Medical
Procedures to Drive Market Demand
11.2.3 UK
11.2.3.1 Increased Geriatric Patients to Be Major Contributor in Market
Growth
11.2.4 Italy
11.2.4.1 Improved Reimbursement Scenario & Increasing Researches to
Support Overall Market Growth
11.2.5 Spain
11.2.5.1 Low Market Entry Barrier to Drive Revenue Growth of Global
Ultrasound Manufacturers
11.2.6 Rest of Europe
11.3 North America
11.3.1 US
11.3.1.1 Increasing Adoption of Novel Ultrasound Technologies to Drive
the Market Growth for Portable Platforms
11.3.2 Canada
11.3.2.1 Significant Number of Ultrasound-Based Medical Procedures to
Replicate Into Their Sustained Market Demand
11.4 Asia Pacific
11.4.1 China
11.4.1.1 Significant Expansion of Healthcare Infrastructure Coupled With
Localized Manufacturing to Drive the Market Growth
11.4.2 Japan
11.4.2.1 Favorable Reimbursement Scenario Coupled With Significant
Geriatric Population to Boost the Japanese Market
11.4.3 India
11.4.3.1 Significant Burden for Target Diseases Coupled With Availability
of Affordable Devices to Drive Market Growth
11.4.4 Rest of Asia Pacific
11.5 Rest of the World
11.5.1 Latin America
11.5.1.1 Significant Prevalence for Target Conditions to Sustain the
Ultrasound Market Demand
11.5.2 Middle East
11.5.2.1 Increased Patient Awareness About Ongoing Technological
Advancements to Be the Major Driving Factor
11.5.3 Africa
11.5.3.1 Significant Patient Population for Chronic Diseases to Drive
Market Growth
12 Competitive Landscape
12.1 Introduction
12.2 Global Market Share Analysis
12.3 Competitive Scenario
13 Company Profiles
(Business Overview, Products Offered, Recent Developments, FutureWise Opinion)*
13.1 Analogic Corporation
13.2 Esaote
13.3 FUJIFILM Holdings Corporation
13.4 General Electric Company
13.5 Hitachi Ltd.
13.6 Koninklijke Philips N.V.
13.7 Mindray Medical International Ltd.
13.8 Siemens AG
13.9 Canon Medical Systems Corporation
13.10 Shimadzu Corporation
13.11 Samsung Electronics
13.12 Carestream Health
13.13 Hologic
13.14 Mobisante, Inc.
13.15 Chison Medical Imaging
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The global ultrasound market is estimated to value over 8 billion and register a CAGR of over 4.9% from the forecast period 2019-2026. Increasing prevalence of infectious and chronic diseases such as cancer and cardiovascular diseases are the major factors propelling the ultrasound market. Increasing demand for non-invasive and invasive diagnostic procedures alongside rising geriatric population worldwide has boosted the market.

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