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The Worldwide Market for Ultrasound Devices (2019-2024): Government & Private Funding for R&D in Ultrasound Imaging is Driving Growth
DUBLIN, March 15, 2019 /PRNewswire/ -- The "Ultrasound Devices Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The Portable Ultrasound Devices Market is expected to register a CAGR of nearly 5.1% during the forecast period, 2019-2024
The propelling factors for the growth of the ultrasound devices market include the government and private funding for R&D in ultrasound imaging, 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 cost of treating these chronic diseases. This also increases the number of diagnostic imaging procedures. The significant contribution to medical diagnostics and the ease of use have created a huge demand, and therefore, attracted various funding bodies to invest, which is expected to increase in the coming years.
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 is the segment under technology that 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 a 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 3D and 4D ultrasound imaging segment is expected to witness a CAGR of 4.27% over 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 of the market and is expected to follow the same trend 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 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 sector 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.
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 invested in ultrasound devices are Philips, Siemens, SonoSite, and Clarius. Their updated technological portable devices are praised globally and these companies have wide presence across the developed and emerging markets.
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 Government and Private Funding for R&D in Ultrasound Imaging
4.2.2 Increasing Number of Healthcare Providers
4.2.3 Technological Advancements
4.2.4 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
5 Market Segmentation
5.1 By Application
5.1.6 Emergency Department
5.1.7 Critical Care
5.1.8 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
22.214.171.124 Color Doppler Imaging
126.96.36.199 Continuous Doppler Imaging
188.8.131.52 Pulse Wave Doppler Imaging
5.2.4 High-intensity Focused Ultrasound
5.3 By Type
5.3.1 Stationary Ultrasound
5.3.2 Portable Ultrasound
5.4.1 North America
5.4.4 Middle East & Africa
5.4.5 South America
6 Competitive Landscape
6.1 Company Profiles
6.1.1 Fukuda Denshi Co. Ltd.
6.1.2 GE Healthcare
6.1.3 Hitachi Medical Corporation
6.1.4 Mindray Medical International Ltd.
6.1.5 Philips Healthcare
6.1.6 Shantou Institute of Ultrasonic Instruments Co. Ltd.
6.1.7 Siemens Healthineers
6.1.8 Toshiba Medical Systems Corporation
7 Market Opportunities and Future Trends
For more information about this report visit https://www.researchandmarkets.com/research/8nnxrj/the_worldwide?w=5
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