The ultrasound device market is projected to grow at a CAGR of 4.45% to reach US$10.053 billion by 2024, from US$7.744 billion in 2018. Ultrasound device makes use of sound waves in order to develop ultrasonic images of the internal body functioning and determining the size and shape of the tissues and organs. This is done via a probe known as a transducer. The growing chronic disease prevalence, need for visualization of fetus assessment during pregnancy, incidences of cancer are some of the driving factors driving the market growth. Also, technological advancements and growing healthcare expenditures are also driving the growth of the global ultrasound device market in the forecast period. In addition, ultrasounds may also be useful in providing assistance in performing certain biopsies.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the ultrasound device value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the ultrasound device market.
Major industry players profiled as part of the report are General Electric Company, Hologic, Inc., Koninklijke Philips N.V., Siemens Healthineers and Hitachi, Ltd. among others.
The ultrasound device market has been analyzed through following segments:
Abdominal Ultrasound Imaging
Obstetric Ultrasound Imaging
Carotid and Abdominal Aorta Ultrasound Imaging
Pelvic Ultrasound Imaging
Academic and Research Institutes
Middle East and Africa