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Global Ultrasound Market | Research, Industry Analysis and Forecast 2026 The Global Ultrasound Market is projected to reach USD 9.0 billion by 2026 from USD 6.7 billion in 2021, at a CAGR of 6.3% duri...View MoreGlobal Ultrasound Market | Research, Industry Analysis and Forecast 2026 The Global Ultrasound Market is projected to reach USD 9.0 billion by 2026 from USD 6.7 billion in 2021, at a CAGR of 6.3% during the forecast period. Ongoing technological advancements in the field of diagnostic & therapeutic ultrasound imaging, availability of medical reimbursements for diagnostic ultrasound procedures in mature markets, and the growing applications of emerging ultrasound techniques (such as Doppler ultrasound in vascular imaging and 3D/4D ultrasound in oncology) are driving the growth of ultrasound market. Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=467 Ultrasound Market Growth Dynamics Drivers: increasing prevalence of target diseases The high and increasing incidence of target diseases and conditions will boost the adoption of effective diagnostic and therapeutic procedures. The burden of chronic and lifestyle diseases has increased in recent years. The burden of cancer, for example, was expected to increase from 14.1 million new cases in 2012 to 19.3 million new cases in 2020 (Source: GLOBOCAN, 2020). Restraints: Unfavorable healthcare reforms in the US In August 2012, the US government planned to reduce Medicare spending by USD 716 billion over the next ten years (until 2022). Many industry participants expect that this health reform will negatively affect the cash flow for medical device companies operating in the US (including those involved in the manufacturing and marketing of ultrasound systems). This may limit the adoption of such devices in the US, as a number of healthcare facilities depend on government funds for purchasing high-end, highly expensive instruments. Opportunities: Expanding applications of ultrasound Minimally invasive therapies and image-guided procedures are increasingly being adopted by healthcare professionals and patients across the world. The ultrasound industry has witnessed a significant shift from being a conventional diagnostic modality for OB/GYN imaging to a therapeutic technique for renal stones, cancers, and other clinical conditions. It can be expected that such efforts will open up new avenues for revenue growth for manufacturers in this market. Challenges: Growing end-user preference for refurbished equipment Due 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. Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=467 By technology, the 2D ultrasound segment to account for the largest share of the ultrasound market in 2020 Based on technology, the market is segmented into diagnostic ultrasound (2D, 3D & 4D, and Doppler ultrasound) and therapeutic ultrasound (focused ultrasound and shockwave lithotripsy). The diagnostic ultrasound segment is expected to account for the larger share of the market in 2020. The large share of this segment can be attributed to the significant usage of 2D ultrasound in women’s health, availability of medical reimbursements for diagnostic ultrasound procedures in mature markets, ongoing technological advancements in the field of diagnostic ultrasound imaging, and the growing applications of emerging ultrasound techniques. Trolley/cart-based ultrasound systems segment to account for the largest share of the ultrasound market, by system portability, in 2020 On the basis of system portability, the market is segmented into trolley/cart-based ultrasound systems, compact/handheld ultrasound systems, and point-of-care ultrasound systems. The trolley/cart-based ultrasound systems segment is expected to account for the largest share of the market in 2020. 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. By application, radiology/general imaging to account for the largest share of the ultrasound market in 2020 On the basis of application, the market is segmented into radiology/general imaging, obstetrics/gynecology, cardiologic applications, vascular applications, urological applications, orthopedic & musculoskeletal applications, pain management, and other applications. The radiology/general imaging applications segment is expected to command the largest share of the market in 2020. Factors such as the rising incidence of various cancers across major countries, technological advancements in the field of ultrasound-based diagnosis and treatment, growing market availability and physician preference for HIFU in cancer treatment, increasing usage of ultrasound in cancer diagnosis and tissue biopsy, and the rising adoption of focused ultrasound in disease therapies are driving the growth of the radiology/general imaging segment. Hospitals, surgical centers, and diagnostic centers to dominate the ultrasound market, by end user, in 2020; this trend to continue during the forecast period Based on end user, the market is segmented into hospitals, surgical centers, and diagnostic centers; maternity centers; ambulatory care centers; research and academia; and other end users. The hospitals, surgical centers, and diagnostic centers segment is expected to account for the largest share of the market in 2020. 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 rising adoption of minimally invasive diagnostic & surgical procedures in these facilities. Europe is expected to command the largest share of the 3D/4D ultrasound industry in 2020 The report covers the ultrasound market across five major geographies, namely, Europe, North America, Asia Pacific, Latin America and MEA. Europe is expected to command the largest share of the ultrasound market in 2020. Factors such as a large number of ongoing clinical research projects in the field of ultrasound, expansions in the clinical applications of focused ultrasound and the early commercialization of these devices in the region, and the significant healthcare expenditure across mature European countries (such as Germany, France, the UK, Italy, and Spain) are driving the growth of the ultrasound market in Europe. Key Market Players: GE Healthcare (US), Koninklijke Philips N.V. (Netherlands), Canon Medical Systems (Japan), Siemens AG (Germany), Hitachi (Japan), Samsung Electronics (South Korea), and FUJIFILM Holdings Corporation (Japan). The other prominent players operating in this market include Esaote S.p.A. (Italy), Mindray Medical International Ltd. (China), Analogic Corporation (US), Carestream (US), Hologic (US), Mobisnate (US), and Chison Medical Imaging (China) Recent Developments In Sep 2021, GE Healthcare acquired BK Medical which extended GE Healthcare’s ultrasound portfolio into surgical visualization and boosted its growth in precision health. In Mar 2021, Koninklijke Philips N.V. partnered with DiA Imaging Analysis Ltd.; Philips will utilize/integrate DiA’s automated solutions with ultrasound systems to deliver operational efficiency and access to care for POC customers in and out of hospitals. In Dec 2020, Koninklijke Philips N.V. partnered with InSightec to expand access to MR-guided focused ultrasound for incision-less neurosurgery applications. In Oct 2020, GE Healthcare partnered with St. Luke’s University; GE has installed 76 ultrasound units to standardize the care in radiology, vascular, and echocardiography applications. 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