The global ultrasound devices market accounted for a value of USD 3,216 million in 2015 and is expected to reach USD 3,860 million in 2021, at a CAGR of 3% during the forecast period 2016-2021.
Ultrasound machines use high-frequency sound waves to monitor the internal organs of the body. The movement of body organs and the blood flow through the blood vessels can be seen with ultrasound images captured in real time. The ultrasound machine consists of transducer probe, central processing unit (CPU), transducer pulse controls, display, keyboard, disk storage device and printer. The transducer probe generates the sound waves and receives the echoes back. The sound waves, generated by the piezoelectric crystal, hit the organ and then reflect back, which in turn are captured by the probe. The sound waves are converted into electrical signals and then displayed on the screen.
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Asia-Pacific is considered to be the emerging markets for ultrasound devices due to the rising population and large investments in the field of research and development of ultrasound equipment. The government and private funding for R&D for ultrasound imaging, aging population, increasing number of healthcare providers, curtailment in the size of ultrasound devices, increasing incidences of chronic diseases are some of the factors that propel the growth of the market. However, lack of skilled labor to handle the equipment and stringent FDA regulations are turning out to be restraints for the market.
The global ultrasound market has been segmented based on applications, technology, type and geography. The segmentation based on application includes different ultrasound markets for anesthesiology, musculoskeleton emergency care, critical care, radiology/vascular ultrasound, obstetrics/gynecology, cardiology and others. The segmentation based on technology includes “A” mode ultrasound imaging, 2D ultrasound imaging, 3D & 4D ultrasound imaging, Doppler imaging and high-intensity focused ultrasound. The segmentation based on type includes stationary ultrasound imaging and portable ultrasound imaging. The segmentation based on geography includes regions such as North America, Europe, Asia-Pacific and rest of the world. North America comprise of USA, Canada and Mexico. The Europe segment includes UK, Germany France, Italy, Spain and others. The regional markets in Asia-Pacific include China, Japan, India, Australia and Rest of Asia-Pacific.
The North America has the largest market size, however, Asia-Pacific is expected to have the higher CAGR. The major players in this market are GE Healthcare, Philips Healthcare, Siemens Healthcare, Samsung Medison, Toshiba, Mindray, Hitachi, Trivitron, Fukuda Denshi and Siui.
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