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Ultrasound Devices Market Expanding at a 5.8% CAGR During the Forecast Tenure 2015-2023

Ultrasound Devices Market

, 14 March 2018 -- Global ultrasound devices market was valued at US$ 6.7 Bn in 2014, which is projected to expand at a CAGR of 5.8% from 2015 to 2023 to reach US$ 11.0 Bn in 2023.

The global ultrasound devices market has been foretold to bear a significantly consolidated nature as there could be a handful of players in leading positions on the basis of share. In the recent past, GE Healthcare, Fujifilm Holdings Corporation, and Koninklijke Philips N.V. had secured a competitive aggregate share of the market. This could show that the degree of market consolidation is considerably high. A massive count of provincial and global companies have been looking to explore long-haul contracts or deals with their clients with a view to cement a strong position in the market. New players might need to encounter the expensive starting point of acquisition and establishment and also compete against toughest participants of the market.

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By the completion of 2023, the global ultrasound devices market has been foreseen by TMR to be valued at a US$11.0 bn while expanding at a 5.8% CAGR during the forecast tenure 2015-2023. By application, radiology has been expected to rise at a faster CAGR and had secured a dominant share in the recent past. By region, Asia Pacific could overtake Europe by the final forecast year, although the latter had led the market few years back.

The requirement of modern ultrasound devices has been foreseen to increase at a serious rate around the world. Human services organizations have felt the need for ultrasound devices at an alarming degree in the recent time with the increase in a number of cardiovascular diseases. By 2030, the count of heart patients has been anticipated to surpass a 23.0 mn, according to the WHO. It could be quite threatening to see cardiovascular diseases taking their toll on people across the globe in quick time. The disturbing rate of the growth of cardiovascular diseases has not only been confirmed by WHO but also most therapeutic counseling and administrative bodies.

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With the rising prevalence of tuberculosis bolstered by the increase in population (since it is a communicable disease) and multi-drug-resistant tuberculosis (MDR-TB) cases, the requirement of ultrasound devices could receive a strong boost in the coming years.

Ultrasound devices manufacturers have been looking to make their products technologically sophisticated to suit to the needs of different end users. They have also been focusing on making ultrasound devices lightweight and handy, so as to increase their demand in the market. Challenges associated with the operability of ultrasound devices could hamper market growth during the course of the forecast period. However, new approaches taken by manufacturers to develop user-friendly products have been foretold to dilute the effect of the market restraint in the near future.

Doppler and pocket ultrasound gadgets and other cutting-edge concepts could add to the growth of the international ultrasound devices market. Furthermore, the increasing rate of mechanical developments observed in the market has been envisaged to improve growth in the foreseeable future.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.

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Submitted by hawer on Wednesday, 14 March 2018 at 2:08 PM
Category: Health Care & Medical
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