Ultrasound Devices Market Size, Research Analysis on Competitive landscape and Key Vendors 2027
Overview:
The
global Ultrasound Devices Market Size is gaining grounds with the increasing
number of physicians recommending the device for accurate diagnosis. A device is an imaging machine that uses
ultrasound and creates an image of the tendons, muscles, joints,
blood vessels, and internal organs. It can do a great job in finding the source
of certain diseases. The sound waves these devices use is higher than the human
audible level. It can provide a picture of blood flow, the motion
of the tissue, molecular presence, and the anatomy of any organ using which doctors can diagnose the problem. As an added
advantage, its portability can be considered.
The global Ultrasound Devices Market Size is expecting a growth of 8.1% CAGR during the forecast period
(2018-2023) and can surpass a market valuation of USD 10.37 billion by 2023.
Market Research Future (MRFR) in a recently published report discloses detailed
study on the segments, drivers that can impact the market, and companies that
are stressing out to expand the market scope.
The
market is expected to rise high with the expansion taking place in the
healthcare sector. Countries are vying for the top medical tourism spot which provides an incentive
for the market. The market can leverage
more from the robust infrastructural development taking place in the developing
regions. The device does not use ionizing radiation which is a plus for the
product market. Its ability to provide accurate image is making it popular
among the physicians owing to which the market can gain substantial heads-up.
However, the device can provide variable
picture due to the difference in the body structure of patients. It has some
drawbacks in imaging bones which can also pull back the market growth a bit.
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Segmentation:
MRFR
segments the global Ultrasound Devices Market Size by applications, clinical
applications, product, and end-user.
Based on the applications, the Ultrasound Devices Market Size can be
segmented into diagnostic and therapeutic. Diagnostic segment commands
almost 68% of the entire market.
Based
on the clinical application, the Ultrasound Devices Market Size includes radiology,
obstetrics and gynecology, cardiac and others.
Based
on the product, the Ultrasound Devices Market Size comprises cart-based and
portable. Portable ultrasounds are gaining prominence for their ease of
application.
Based
on the end-user, the Ultrasound Devices Market Size can be segmented into hospitals/clinics and ambulatory.
Hospitals/clinics segment is leading the market. However, ambulatory service is also gaining grounds.
Regional Analysis:
MRFR’s
analysis of the Ultrasound Devices Market Size geographically segments the
market namely by the Americas, Europe, Asia Pacific (APAC), and Middle East
& Africa (MEA).
The
Americas is currently holding the maximum share in the market. A high percentage of uptake of such devices by
the healthcare industry is providing the market the much-needed impetus during
the forecast period.
Europe
has a good command over the market as
well with similar features like that of the Americas. Government initiatives are also
providing favorable wind. At the same time, major companies are based out of this region which brings in
substantial revenue from all over the world. The APAC market is expected to
grow with the fastest CAGR during the forecast period. The region is developing several sectors, and healthcare is one such where it is
evolving. The concept of medical tourism is providing the much-needed spark.
Substantial patient pool owing to huge population is also helping the regional
market.
Competitive Analysis:
Notable
players of this Ultrasound Devices Market Size are Toshiba Corporation, General
Electric Company, Mindray Medical International Ltd., Samsung Electronics Co.,
Ltd., Hitachi Ltd., Siemens AG, Koninklijke Philips N.V., Shimadzu
Corporation, and Analogic Corporation and others.
ETH
Zurich, with support from the Swiss
National Science Foundation, has
developed an ultrasound device that can detect the malignant tumors benignly
present in the breast. This can help the easy diagnosis of breast cancer.
In
2018, Samsung launched RS85 that is enriched
with MV-Flow technology that can detect microvascular blood flow and
S-Shearwave imaging that assists in the clinical
diagnosis of the state of tissues.
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