Ultrasound Device Market Share, Strategies, Emerging Technologies, Growth Rate Analysis, and Trends

The global ultrasound device market was valued at $6,014.4 million in 2015, and it is expected to grow at a CAGR of 5.5% during 2016-2022.Based on portability of ultrasound, the portable/compact/handheld ultrasound segment is expected to witness the faster growth at a CAGR of 8.8%, during the forecast period.

The global ultrasound device market is projected to reach $8.7 billion by 2022, growing at a CAGR of 5.5% during the forecast period. The market will be growing at a significant rate due to the growing geriatric population, increasing prevalence of chronic and lifestyle diseases such as cardiovascular disease and cancer, and increasing healthcare expenditure. In addition, the technological advancement in ultrasound device, and the increasing demand for minimally invasive diagnosis and therapeutics will also be driving the growth of the ultrasound device industry.

The global ultrasound device market is growing at a significant rate, due to increasing healthcare expenditure, technological advancement of ultrasound, increasing demand for minimally invasive diagnostic and therapeutic techniques, and growing geriatric population. The increasing prevalence of chronic diseases and improving healthcare infrastructure in developing countries are also driving the growth of the global ultrasound device market.

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Ultrasound is a sound with frequencies higher than about 20 kHz. It moves in a wavelike manner through which it travels. The waves travel with different speed in different medium. The medical ultrasound system operates at higher frequencies, typically 1-10 MHz.

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Stringent regulatory requirements for the approval of ultrasound devices, is inhibiting the growth of the global market. Geographically, Europe dominated the global market of ultrasound device in 2015; whereas the Asia-Pacific market is expected to witness the fastest growth, a CAGR of 6.3%, during the forecast period.

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Some of the key companies operating in the global ultrasound device market include Siemens AG, Koninklijke Philips N.V., General Electric Company, Hitachi Ltd., Toshiba Corporation, Analogic Corporation, FUJIFILM Holdings Corporation, Mindray Medical International Ltd., and Esaote SpA,

Global Ultrasound Device Market Segmentation

By Type

• Diagnostic Ultrasound Device
• Therapeutic Ultrasound Device

By Portability

• Cart/Trolley Ultrasound Device
• Compact/Portable/Handheld Ultrasound Device

By Technology

• 2D Ultrasound Device
• Doppler Ultrasound device
• 3D and 4D Ultrasound Device
• High focused (HIFU) Ultrasound Device
• Extra(ESWL) Ultrasound Device

By Display

• Black and White Ultrasound Device
• Color Ultrasound device

By Application

• Cardiology Ultrasound
• Obstetrics and Gynecology Ultrasound
• General Imaging Ultrasound
• Vascular Ultrasound
• Urology Ultrasound
• Others

By Geography

• North America
• U.S.
• Canada
• Rest of North America
• Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Rest of Asia Pacific
• Rest of the World (RoW)

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