Global Ultrasound Devices Industry Expected to Reach $8.9 Billion by 2027

0

DUBLIN, May 10, 2022 /PRNewswire/ — Report “Ultrasound Devices Market – Forecast 2022 to 2027” has been added to from ResearchAndMarkets.com offer.

The Global Ultrasound Devices Market is Expected to Grow at a Pace CAGR 4.54% compared to the market size of US$6.532 billion in 2020 for US$8.913 billion in 2027 due to technological developments in the medical field and the expansion of applications of ultrasound techniques in diagnostic and therapeutic imaging.

Ultrasound is a technique that describes the internal organ of a human body or the internal movements of the body using the sound wave. It helps to find the cause of pain or swelling, to diagnose the infection of internal organs and also to examine the fetus in pregnant women. Cancer detection is also performed using ultrasound techniques.

This technique is safer compared to other conventional techniques. They are cost effective and consume less time for detection. It can be performed on targeted organs rather than the whole body. Due to these factors, the implementation of these technologies is increasing in hospitals and health centers. It is also expected to increase in the coming years.

The population with chronic diseases such as cardiovascular disorders, cancer, diabetes and others is increasing day by day. This increase is mainly due to change in lifestyle, change in diet, consumption of junk food, and overall underestimation of body health by a large portion of the world’s population. This mainly includes millennials. However, knowing the existence of such diseases, the health check is preferred by many individuals. This requires a global diagnosis of the organism. Moreover, due to the safe and economical properties of ultrasound technology, medical professionals prefer to use it for examinations in therapeutic procedures.

According to the World Health Organization report, in 2020 nearly 10 million deaths were caused by cancer, among which lung cancer is considered to be one of the most common cancers. In addition, the new cancer case includes breast cancer, skin cancer, colon and rectum. The report also indicates that more than 90% of high-income countries have full treatment. Yet it is available in less than 15% of low-income countries. whereas a report by the World Health Organization in June 2021, 32% of deaths worldwide in 2019 were caused by cardiovascular diseases. Of these, 85% were due to stroke and heart attack. To address this problem, the propensity for screenings has increased. This expects an increase in demand for ultrasound technology.

Image-guided and minimally invasive therapies are increasingly being adopted by many healthcare professionals around the world. The ultrasound industry is becoming a therapeutic technique for cancer, kidney stones and many other clinical conditions. It has been estimated that such efforts and developments will open up new opportunities for manufacturers in the ultrasound industry. And many success rates due to early treatments using ultrasonic testing also led to the implementation of ultrasonic technology all over the world.

Despite the expansion of advanced technologies, underdeveloped countries are still far from these developments due to their low economic incomes. Weak demand from these countries is resisting the growth of ultrasound worldwide. Moreover, recent recalls of numerous ultrasound devices are also one of the resistances to the growth of the market. For example, a class 2 product that was the subject of a recall given by Koninklijke Philips in 2020 had a faulty cooling function that could injure a patient during the examination. This has created a threat of opting for a new booster in ultrasound devices.

Additionally, not all technicians can handle ultrasound equipment professionally; it requires proper training. The lack of skilled technicians in many parts of the world is also expected to hamper the growth of ultrasound technology expansion globally.

With ongoing research and developments in the field of ultrasound, the expansion of clinical applications and the early commercialization of ultrasound devices in countries such as France, Germanythe UK and Italy, Europe is expected to hold a major share of the ultrasound market in 2026.

Main topics covered:

1. Introduction

2. Research methodology

3. Executive Summary

4. Market dynamics
4.1. Market factors
4.2. Market constraints
4.3. Analysis of the five forces of carriers
4.3.1. Bargaining power of end users
4.3.2. The bargaining power of buyers
4.3.3. The threat of new entrants
4.3.4. The threat of substitutes
4.3.5. Competitive rivalry in the industry
4.4. Industry Value Chain Analysis

5. Global Ultrasound Devices Market Analysis, by Imaging
5.1. Introduction
5.2. Abdominal ultrasound imaging
5.3. Ultrasound imaging of the carotid and abdominal aorta
5.4. Obstetric ultrasound imaging
5.5. Pelvic ultrasound imaging
5.6. Others

6. Global Ultrasound Market Analysis, By End User
6.1. Introduction
6.2. Hospitals
6.3. Clinics

7. Global Ultrasound Market Analysis, By Geography

8. Competitive environment and analysis
8.1. Key Players and Strategic Analysis
8.2. Emerging players and market profitability
8.3. Mergers, acquisitions, agreements and collaborations
8.4. Supplier Competitiveness Matrix

9. Companies cited
9.1. Koninklijke Philips NV
9.2. GE Healthcare
9.3. CANON MEDICAL SYSTEMS CORPORATION
9.4. Hitachi
9.5. Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
9.6. Siemens Health
9.7. Samsung Medison Co., Ltd.
9.8. Esaote
9.9. Hologic inc.
9.10. Shimadzu Company

For more information about this report visit https://www.researchandmarkets.com/r/iwgijv

Media Contact:

Research and Markets
Laura Woodsenior
[email protected]

For EST office hours, call +1-917-300-0470
For USA/CAN call toll free +1-800-526-8630
For GMT office hours call +353-1-416-8900

US Fax: 646-607-1907
Fax (outside the US): +353-1-481-1716

Quote View original content: https://www.prnewswire.com/news-releases/the-worldwide-ultrasound-device-industry-is-expected-to-reach-8-9-billion-by-2027–301544250. html

SOURCE Research and Markets

Share.

About Author

Comments are closed.