Global Ultrasound Devices Market, by Product Type (2D Ultrasound, 3D Ultrasound, 4D Ultrasound, Doppler Ultrasound, and High Frequency Focused Ultrasound), by Application (Cardiology, Radiology, Musculoskeletal, Obstetrics/Gynecology, and Others), by Device Portability (Trolley/Stationary Devices and Portable/Compact Devices), by End User (Hospitals, Diagnostic Centers, and Ambulatory Surgical Centers), was estimated to valued at US$ 6,230.1 million in 2019 and is projected to exhibit a CAGR of 1.9% over the forecast period (2019 - 2027).
Medical ultrasound, also known as ultrasonography or diagnostic sonography, is a technique that is used to visualize internal body structures such as muscles, tendons, blood vessels, and others. Moreover, ultrasonography is used for examining pregnant women, which is known as obstetric ultrasound. This ultrasound helps to monitor the development and well-being of the baby in the womb. The ultrasound waves are audio waves with frequencies higher than the audible range of human beings. Increasing product launches of ultrasound devices by major players is expected to boost growth of the global ultrasound devices market. For instance, in 2019, Siemens Healthineers launched Acuson Redwood ultrasound system, which is used for medical imaging in various clinical departments including radiology, cardiology, obstetrics, and gynecology. This system is portable and lightweight with multiple artificial intelligence (AI)-based tools for smart workflow and cardiology features.
Technological advancements in ultrasound imaging can provide 3D as well 4D data of the internal body structures. Ultrasound has become an indispensable modality in imaging, owing to its flexibility and non-invasive characteristics. The global ultrasound devices market is expected to witness significant growth over the forecast period, owing to increasing number of pregnancies and childbirth, awareness among populace regarding the benefits of early diagnosis, and rising incidence of chronic diseases such as cardiac diseases requiring observation of heart and cardiac muscle function.
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Additionally, Increasing funding for research and development based on ultrasound devices is a key factor contributing to growth of this market. For instance, in 2019, Sonavex Inc. company received US$ 3 million funding from National Institutes of Health that will allow the company to pursue applications of its FDA-approved products to use in vascular surgery.
Key Takeaways of the Global Ultrasound Devices Market:
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