Diagnostic Ultrasound Devices Market is Projected to Expand at a 6.84% CAGR from 2019-2026
The global Diagnostic Ultrasound Devices market is estimated to be USD 5,212 million in 2019 and is expected to reach USD 8,282 million by 2026, with a CAGR of 6.84% during the forecast period.
Ultrasound imaging uses sound waves to produce pictures of the inside of the body. It is used to help diagnose the causes of pain, swelling and infection in the body’s internal organs and to examine a baby in pregnant women and the brain and hips in infants. It’s also used to help guide biopsies, diagnose heart conditions, and assess damage after a heart attack. Ultrasound is safe, noninvasive, and does not use ionizing radiation.
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Key Players:
For the global diagnostic ultrasound equipment industry, the industrial structure is relatively concentrated. The half market share in revenue is grasped by the top three manufacturers, General Electric, Philips and Siemens, which closes to 57.30 per cent totally. The United States giant General Electric (GE) has a market share of 24.42% in 2015 and is a leader in the ultrasonic diagnostic equipment industry. The manufacturers following GE are Philips and Siemens, which respectively has 19.86% and 13.02% market share globally. The Mindray is the leader of China diagnostic ultrasound devices industry. It sells a total of roughly USD 302 million diagnostic ultrasound devices products in the year of 2015.
Key players in the Diagnostic Ultrasound Devices market include General Electric (GE), Philips, Siemens, TOSHIBA, Hitachi Medical, Mindray, Sonosite (FUJIFILM), Esaote, Samsung Medison, Konica Minolta, SonoScape, LANDWIND MEDICAL, SIUI, CHISON, EDAN Instruments, and etc.
Market Driver and Restraint
Growing burden of chronic diseases worldwide coupled with rapidly growing geriatric population base are expected to fuel the growth of the diagnostic ultrasound devices market. Rising prevalence of cancer due to lifestyle changes will also positively impact the diagnostic ultrasound devices market growth. Furthermore, rising investments in improving healthcare facilities in developing economies will further positively impact the global diagnostic ultrasound industry growth. Also, rapid advances in ultrasound technology as well as systems will further spur the industry size. Yet, dearth of skilled professionals and lack of training may hamper diagnostic ultrasound devices growth over the review period.
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Forecast by Geography
North America is the global market leader at a share of 35.72%. Europe is currently leading Asia-Pacific with a share of 34.88% and 24.13%. North America market was valued over USD 1,421 million revenue in 2018 and is anticipated to show substantial growth during the forthcoming years. High adoption of unhealthy diet, hypertension and obesity has escalated prevalence of chronic diseases in the region. Moreover, availability of advanced healthcare facilities in the region will surge the demand for diagnostic ultrasound thereby escalating regional growth.
The Asia-Pacific market accounted for considerable revenue in 2018 and is estimated to witness robust CAGR of 5.2% over the forecast period. A large pool of patient talent in this region will boost the market growth. Rising disposable income in emerging economies such as India and growing awareness among people will further drive regional industry growth.
Type Segment Analysis
By product type, the Diagnostic Ultrasound Devices market is segmented into Doppler, 3D&4D, 2D, and Other. 3D and 4D segment was valued at USD 1.8 billion in 2018 and is expected to have considerable revenue size during the forecast timeframe. Segment growth is attributable to wide adoption of 3D technology in detection of breast cancer. Moreover, short duration diagnosis and large data storage capabilities will foster the 4D diagnostic ultrasound business growth.
Application Segment Analysis
Based on application, this market is divided into Diagnostic Ultrasound Devices is widely used in Obstetrics & Gynecology, Cardiology, and Oncology.
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Table of Content
1 Report Overview
1.1 Product Definition and Scope
1.2 PEST (Political, Economic, Social and Technological) Analysis of Diagnostic Ultrasound Devices Market
2 Market Trends and Competitive Landscape
3 Segmentation of Diagnostic Ultrasound Devices Market by Types
4 Segmentation of Diagnostic Ultrasound Devices Market by End-Users
5 Market Analysis by Major Regions
6 Product Commodity of Diagnostic Ultrasound Devices Market in Major Countries
7 North America Diagnostic Ultrasound Devices Landscape Analysis
8 Europe Diagnostic Ultrasound Devices Landscape Analysis
9 Asia Pacific Diagnostic Ultrasound Devices Landscape Analysis
10 Latin America, Middle East & Africa Diagnostic Ultrasound Devices Landscape Analysis
11 Major Players Profile
11.1 General Electric (GE)
11.1.1 General Electric (GE) Company Profile and Recent Development
11.1.2 Market Performance
11.1.3 Product and Service Introduction
11.2 Philips
11.3 Siemens
11.4 TOSHIBA
11.5 Hitachi Medical
11.6 Mindray
11.7 Sonosite (FUJIFILM)
11.8 Esaote
11.9 Samsung Medison
11.10 Konica Minolta
11.11 SonoScape
11.12 LANDWIND MEDICAL
11.13 SIUI
11.14 CHISON
11.15 EDAN Instruments
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2019 to 2026
Target Audience:
Professional service providers
Technology providers
Healthcare organizations
Product managers, Diagnostic Ultrasound Devices industry administrator, C-level executives of the industries
Market Research and consulting firms
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