The radiology/general imaging segment accounted for the major share of 30% of the overall ultrasound market in 2015. This is primarily due to the wide adoption of ultrasound devices in the diagnosis of rising number of abdominal diseases. Urology has emerged as the fastest growing segment, registering a CAGR of 11.3% during the forecast period, due to the growing incidences of urinary tract infections coupled with the rapidly aging patient population.
According to new research published by Allied Market Research, global Ultrasound Devices Market size is projected to reach $10,476 million by 2022. Ultrasound is a medical imaging modality that uses high-frequency sound waves to visualize the internal organs of the body. It is equipped with a probe that transmits the high-frequency ultrasonic sound waves into the body of the patient. These sound waves are then reflected by the body organs into the probe and are transmitted to a display machine that generates the image with the help of echoes.
An ultrasound machine or ultrasound transducer system is used to visualize liver, kidneys, blood vessels, heart, human fetus, and other organs. It is a form of diagnostic imaging technique that is also used to examine pregnant women. Ultrasound devices can also be applied in sonography, which can aid in both diagnosis and therapeutic procedures.
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Diagnostic ultrasound devices such as 2D ultrasound, 3D & 4D ultrasound, and Doppler devices have given rise to new applications (such as biopsies and image-guiding interventions) across different clinical specialties. The growing demand for both ultra-portable and portable diagnostic ultrasound systems in diagnostic and image guidance area at points-of-care have further boosted the market growth.
Based on the type of device display, the market is categorized into color ultrasound devices and black & white (B/W) ultrasound devices. The color ultrasound systems accounted for the highest share in 2015 and is estimated to grow at a CAGR of 5.9%. This is due to high adoption of technologically advanced ultrasound devices and increased awareness about the advantages offered by portable color ultrasound devices.
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Based on device portability, the market is categorized into trolley/cart-based ultrasound devices and compact/handheld ultrasound devices. The trolley/cart-based ultrasound devices accounted for the largest share in 2015, whereas, the compact/handheld ultrasound devices segment is the fastest growing segment with a CAGR of 7.4%.
The key players in the ultrasound market are highly focused on expanding their business operations in the fast-growing emerging countries and new product launches as a preferred strategy. The companies profiled in this report include Analogic Corporation, Esaote SpA, Fujifilm Corporation, General Electric Company, Hitachi, Ltd., Koninklijke Philips N.V., Mindray Medical International Limited, Samsung Medison Co. Ltd, Siemens AG, and Toshiba Corporation.