Global Ultrasound Market is valued approximately USD 5.8 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 6.40 % over the forecast period 2020-2027. Ultrasound technology produces diagnostic images using high frequency sound wave. The technology is vastly used in medical science to visualize kidneys, lover, human fetus, heart, blood vessels and other organs. Thus, the growing prevalence of chronic diseases such as diabetes, heart disease and cancer increase the demand for Ultrasound procedures for organ visualization. As per the American Heart Association’s Circulation Journal Report Annual Statistics update issued in January 2019, 48% of the adults in the US have some form of CVD. Also, as per the European Heart network report 2017, Cardiovascular diseases cause 3.9 million deaths in Europe accounting for 45% of all the deaths. While, as per International Diabetes Federation( IDF) Europe region 59 million people have diagnosed with diabetes and is projected to increase to 68 million by 2045. Further Ultrasound screening is gold standard for fetal screening, thus the growing birth rates and in-vitro fertilization treatment rates fuel the market growth. Also, recommended periodic screenings set by governments such as mammographic screening for women above 40 years of age support the market growth. Moreover, rise in public & Private investments and grants and funds for the developments of ultrasound devices and expanding application of ultrasound drives the market growth. However, lack of skilled labor impedes the growth of the market over the forecast period of 2020-2027. Although, advent of 3D/4D Ultrasound for diagnosis and better visualization presents a lucrative opportunity for the market.
The regional analysis of global Ultrasound market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the well-established healthcare infrastructure and growing periodic monitoring in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising incidences of Chronic diseases and swelling investments in medical infrastructure would create lucrative growth prospects for the Ultrasound market across Asia-Pacific region.
Major market player included in this report are:
Koninklijke Philips N.V.
Canon Medical Systems Corporation
Siemens Healthineers AG
Samsung Electronics , Ltd.
FUJIFILM Holdings Corporation
Mindray Medical International Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Point of Care (PoC)
By End user:
Ambulatory Care Centers
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Ultrasound Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers