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Ultrasound Market by Technology, Display, Portability, Application, End user - Forecast to 2023

Ultrasound Market: Forecast until 2023

  • November 2018
  • 212 pages
  • ID: 4763093
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The ultrasound market is estimated to rise at a compound annual growth rate of 5.90 percent

The overall ultrasound market is estimated to grow $8.40B by 2023 from $6.30B in 2018, at a compound annual growth rate (CAGR) of 5.90 percent. Elements such as the growing prevalence of target diseases; growing patient preference for minimally invasive procedures; technological improvements; rising number of diagnostic centers & hospitals; and increasing public and private investments, funding, and grants are driving the increase of the overall ultrasound market. Nevertheless, stringent government regulations may restrict the rise of this market to a certain extent in the next years.

Color ultrasound devices segment is anticipated to witness the highest increase in the ultrasound market, by device display, during the estimate period

On the basis of device display, the ultrasound market is divided into black & white ultrasound and color ultrasound devices.The color ultrasound devices segment is anticipated to rise at the maximal compound annual growth rate (CAGR) during the outlook period due to the benefits provided by these devices, including better image quality and higher image resolution.

Also, the increasing availability of advanced color ultrasound devices, along the continuous decline in product cost across main countries and expanding distribution networks of main manufacturers across emerging countries, are anticipated to support the rise of this market segment during the estimate period.

Trolley/cart-based ultrasound systems segment is intended to account for the most important share of the ultrasound market, by system portability

Established on system portability, the ultrasound market is broken down into trolley/cart-based ultrasound systems, compact/handheld ultrasound systems, and point-of-care ultrasound systems. In 2018, the trolley/cart-based ultrasound systems segment is forecasted to account for the biggest market share due to the increasing adoption of these systems across main sectors (as a result of their growing use in emergency care and acute care settings in hospitals and healthcare institutions).

Asia Pacific market is anticipated to grow at the highest CAGR (Compound annual growth rate) during the outlook period

The Asia Pacific market is forecasted to grow at the highest compound annual growth rate (CAGR) during the forecast period mainly due to the rising healthcare expenditure across the region's main countries (especially India and China (CN)), increasing public awareness about the therapeutic potential of ultrasound technologies, continuous decrease in device costs (due to increasing localized manufacturing and the presence of overall market actors), increasing prevalence of target diseases, and the ongoing trend of device miniaturization.

Breakdown of supply-side primary interviews:

• By Company category: Tier 1 - 45.0 percent, Tier 2 - 34.0 percent, and Tier 3 - 21.0 percent

• By Description: C-suite - 14.0 percent, Director-level - 10.0 percent, Others - 76.0 percent

• By Area: EU - 35.0 percent, North America continent - 32.0 percent, Asia-Pac - 25.0 percent, RoW - 8.0 percent

The main players operating in the overall ultrasound market are General Electric (NYSE:GE), Philips, Canon Medical Systems, Siemens (SIA), Hitachi, Samsung Electronics, FUJIFILM Holdings Corporation, Esaote S.p.A., Mindray Medical International Ltd., Shimadzu Corporation, Analogic Corporation, Carestream, Hologic, Mobisnate, and Chison Medical Imaging.

Segment Research

This report studies the ultrasound market established on technology, device display, system portability, application, end-user, and area.It also includes the factors affecting market increase, examines the several opportunities and opportunities in the sector, and offers details of the competitive landscape for industry top players.

Moreover, the market research examines micromarkets with respect to their individual progress trends and forecasts the size of market segments with respect to four main regions-North America, Europe (EU), the Asia Pacific, and the Rest of the globe (and the respective countries in these areas).

Why Purchasing This Study Can Help You:

From an insights perspective, this market research highlights on different levels of review of key players and company descriptions, which together comprise and examine basic views on the competitive landscape, emerging segments of the ultrasound market, and high-growth areas and their drivers, market restraints, opportunities, and alternatives. The market research will increase both established firms as well as new entrants/smaller companies to measure the pulse of the sector, which, in turn, will facilitate companies collect greater segment market share.

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