Ultrasound Devices Market Overview
The ultrasound devices are for diagnosing chronic illnesses body organs such as the heart, abdominal blood arteries, joints, and others. This technique is considered the safest, non-invasive diagnostic procedure for internal organ examination. This major factor is driving the demand of the ultrasound devices market.
The ultrasound devices market is estimated to obtain a market value of USD 9,208.76 Million by 2026 and a substantial CAGR value during the forecast period, says Market Research Future (MRFR). The rise in the number of chronic health conditions such as cancer, tumors, gallstones, and fatty liver diseases are accelerating the market. The higher healthcare expenditure and awareness among the patients for early illness detection and advancements in ultrasound imaging devices are set to fuel up the market during the forecast period.
The ultrasound devices market is highly driven by the requirement for minimally invasive diagnostics. The rise in demand for therapeutic devices is another salient feature contributing to the market’s growth. The user-friendly advanced equipment launch is predicted to uplift the market’s value. In addition, the rising trend towards home healthcare and remote monitoring is another major factor strengthening the market.
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During the COVID-19 pandemic, the ultrasound devices market initially faced a tough situation due to the bad impact of lockdown. It has hampered the manufacturing and production activities of the market, and eventually, it disrupted the supply chain process, which has negatively affected the market’s revenue. But in the further days, the market recovered its growth loss when the demand for advanced medical equipment increased.
Ultrasound Devices Market Segmentation
The ultrasound devices market is segmented into application, technology, portability, display and end-user.
The application segment of the market is classified into radiology and general imaging, obstetrics and gynecology. The radio and general imaging segment will acquire significant growth due to the increased number of cancer cases and the expanding senior population.
The technology fragment consists of diagnostic ultrasound. The portability segment of the ultrasound devices market is categorized into cart and trolley, and handheld and compact. In recent years, the cart and trolley-based ultrasound devices have captured a good share value. The display segment of the market has color and black & white. The color ultrasound segment has captured the maximum market share. The end-user section includes the hospitals and, diagnostics & surgical centers.
Ultrasound Devices Market Regional Analysis
According to the geographical analysis, the ultrasound devices market covers major regions such as the Asia Pacific, North America, Europe and the rest of the world.
The European market is noticed for dominating the market in the forecast period. The increase in healthcare expenditure and the higher incidents of chronic illness in the geriatric population are driving the regional market.
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Followed by Europe, North America will capture the largest share. The rising in chronic ailments among and growing geriatric population will propel the ultrasound devices market demand. The Asia Pacific region will emerge rapidly due to the rise in initiatives for improving healthcare facilities. Moreover, the presence of developing countries like India, China, and Japan are highly contributing to the market’s growth.
Ultrasound Devices Industry News
In Mar 2022 – At ECR 2022 Overture, FUJIFILM Healthcare Europe revealed ECHELONTM Smart PlusTM with ‘REALISE Plus,’ a superconductive 1.5T MRI machine in association with a brand-new version of the SynergyDriveTM Automation Suite.
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