Global Healthcare‎ Ultrasound Equipment Market Size By Product (Cart-/Trolley-Based Ultrasound Equipment, Handheld Ultrasound Equipment), By Application (Hospital, Clinic), By Geographic Scope And Forecast

Healthcare‎ Ultrasound Equipment Market Size And Forecast

Healthcare‎ Ultrasound Equipment Market size is growing at a faster pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2021 to 2027.

Ongoing technological advancements in the field of diagnostic & therapeutic ultrasound imaging, the availability of medical reimbursements for diagnostic ultrasound procedures in mature markets, and the growing applications of emerging ultrasound techniques are driving the growth of the Healthcare Ultrasound Equipment Market. The Global Healthcare Ultrasound Equipment Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Healthcare Ultrasound Equipment Market Definition

Medical ultrasound also referred to as ultrasonography or diagnostic sonography is a technique based on the application of ultrasound to visualize internal body structures such as muscles, tendons, blood vessels, and others. Ultrasound devices are imaging machines that use sound waves to generate images of internal body structures to find the source of a particular disease or malfunction in body parts such as tendons, joints, muscles, blood vessels, and others. Ultrasound devices are also used for examining pregnant women and the brain and other functionalities of infants. These devices offer a great level of assistance in medical imaging, as the ultrasound waves are non-invasive, safe, and do not make use of ionizing radiation.

Ultrasound devices used in imaging are mainly classified into five different types, namely 2D Ultrasound, 3D Ultrasound, 4D Ultrasound, Doppler Ultrasound, and High-Intensity Focused Ultrasound Devices. 2D ultrasound devices, which are the most commonly used in practice, provide flat, two-dimensional, black-and-white images of internal body parts and infants in pregnant women. Moreover, ultrasonography has wide applications in examining pregnant women known as obstetric ultrasound which helps to monitor the development and well-being of the baby in the womb. Ultrasound waves are audio waves with frequencies higher than the audible range of human beings.

Global Healthcare Ultrasound Equipment Market Overview

The rising incidence and prevalence rate of chronic diseases that demand medical imaging for its diagnosis and treatment monitoring is one of the major factors that is driving the growth of the Global Healthcare Ultrasound Equipment Market. For instance, according to the Centers for Disease Control and Prevention estimated data, 49% of the population will have at least one chronic disease in the U.S. Wherein a majority of these diseases are diagnosed with the help of medical imaging such as ultrasound imaging. Various factors driving the growth of the Global Healthcare Ultrasound Equipment Market include technological advancements in ultrasound imaging such as 4D and high frequency focused ultrasound devices, a rising number of diagnostic imaging procedures, and increasing awareness among people regarding the importance of early disease diagnosis as a preventive measure.

In addition, increasing launches of innovative and advanced technology products of ultrasound devices is expected to drive the growth of this market. For instance, in 2019, JW Medical, a subsidiary company of JW Holdings, marketed ARIETTA 65, an ultrasonic imaging device manufactured by Hitachi Medical Systems, a medical device company. The company planned to make this product a premium model of the ultrasound equipment category. ARIETTA 65 has employed the elastography function, which allows automatic frame selection and calculates the elasticity of the lesion compared to the adipose tissue. Similarly, in 2018, GE Healthcare launched Versana Essential, a new ultrasound system. This system was designed to deliver several advanced capabilities to a range of physicians, making it easier to diagnose and treat potentially serious conditions in a timely manner.

However, stringent FDA regulations for approval of ultrasound devices, and lack of skilled and experienced personnel to operate these devices are restraining the market growth. In addition, owing to the high prices of novel ultrasound technologies (such as focused ultrasound) and budgetary constraints faced by small-sized healthcare providers, the preference for refurbished ultrasound equipment has grown. For instance, a typical 3D/4D ultrasound system costs USD 20,000–75,000 in North America, while a refurbished 3D/4D ultrasound system costs USD 5,000–40,000. The growing preference for refurbished systems is, therefore, expected to pose a significant challenge to market growth.

Global Healthcare Ultrasound Equipment Market Segmentation Analysis

The Global Healthcare Ultrasound Equipment Market is Segmented on the basis of Product, Application, And Geography.

Healthcare‎ Ultrasound Equipment Market, By Product

• Cart-/Trolley-Based Ultrasound Equipment
• Handheld Ultrasound Equipment

Based on Product, the market is bifurcated into Cart-/Trolley-Based Ultrasound Equipment and Handheld Ultrasound Equipment. The Cart-/Trolley-Based Ultrasound segment is expected to account for the largest share of the Healthcare Ultrasound Equipment Market in 2019. The large share of this segment is attributed to the growing adoption of these systems across major markets due to their increased usage in acute care settings and emergency care in hospitals and healthcare institutions.

Healthcare‎ Ultrasound Equipment Market, By Application

• Hospital
• Clinic
• Home Care

Based on Application, the market is bifurcated into Hospital, Clinic, and Home Care. The hospitals, surgical centers, and diagnostic centers segment is expected to account for the largest share of the Healthcare Ultrasound Equipment Market in 2019. The large share of this segment can be attributed to factors such as a significant number of ultrasound-based medical procedures performed in hospitals, coupled with the growing number of hospitals across major markets, and the rising adoption of minimally invasive diagnostic & surgical procedures in these facilities.

Healthcare‎ Ultrasound Equipment Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of Regional Analysis, the Global Healthcare Ultrasound Equipment Market is classified into North America, Europe, Asia Pacific, and Rest of the world. North America is expected to hold a dominant position in the Global Healthcare Ultrasound Equipment Market over the forecast period, owing to the increasing number of pregnancies is expected to boost the growth of the global Healthcare Ultrasound Equipment Market. The rising number of childbirths every year is one of the major factors driving demand for ultrasound devices, as the development of the child in the womb is usually monitored with the help of ultrasound imaging. According to the Centers for Disease Control and Prevention (CDC), the total number of births in the U.S. accounted for 3,978,497 in 2016. The birth rate in the U.S. was 12.4 births per 1,000 population and thus, obstetrics and gynecology contribute a significant share in the Global Healthcare Ultrasound Equipment Market.

Key Players

The “Global Healthcare Ultrasound Equipment Market” study report will provide valuable insight with an emphasis on the global market including some of the major players are GE, Philips, Siemens, Fujifilm, Toshiba, Samsung, Hitachi, Mindray Medical, Boston Scientific, BenQ Medical, Chison, Ecare, Esaote, Telemed, Zoncare, MedGyn.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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