Market Industry Reports (MIR) has published a new report titled “Ultrasound Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the Global Ultrasound Market was estimated to account for over US$ 6.6 Billion by 2019. The market is anticipated to grow at a CAGR of 5.7% from 2019 to 2030.
New York, NY -- (SBWIRE) -- 03/03/2020 -- Incidences & prevalence of chronic diseases especially cancer and geriatric population are rapidly growing globally. Geriatric populations are highly prone to diseases due to various structural and functional changes. Therefore, the demand for early detection of diseases is incessantly rising, which in turn is likely to spur the demand of ultrasound devices which are routinely used for diagnosis and monitoring of a wide range of diseases.
Stringent government regulation is one among the main factors hampering the expansion of the market. as an example , the Indian health ministry has notified ultrasound equipment under the Drugs and Cosmetics (D&C) Act to manage its import, manufacture and sale. With effect from November, 2020 companies that provide ultrasound technology will need to apply for permission from the Drug Controller General of India (DCGI) which is liable for approval of licenses, before the corporate can sell their medical devices in India.
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Key Competitors:
Canon Medical Systems, General Electric Company, Hitachi, Philips, Samsung Electronics and FUJIFILM Holdings Corporation and Siemens AG. The other prominent players operating in this market include Esaote S.p.A., Mindray Medical International Ltd., Shimadzu Corporation, Analogic Corporation, Carestream, Hologic, Mobisnate, and Chison Medical Imaging.
Ultrasound market Segmentation:
By Device Display:
Color Ultrasound and Black & White (B/W) Ultrasound
By product Type:
Diagnostic Ultrasound and Therapeutic Ultrasound), System Portability (Trolley/Cart-Based System, Compact/Handheld System and Point-of-Care (POC) Systems
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By End-users:
Radiology/General Imaging, Obstetrics/Gynecology, Cardiology, Urology, Orthopedic & Musculoskeletal, Pain Management and Vascular
By Region:
-North America
-Europe
-Asia Pacific
-Rest of the World (ROW)
By Application:
Hospitals, Surgical Centers, & Diagnostic Centers; Maternity Centers; and Ambulatory Care Centers
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Ultrasound (also known as diagnostic sonography or ultrasonography) is a diagnostic imaging technique that uses high-frequency sound waves to visualize the internal body structures such as tendons, muscles, joints, blood vessels, and internal organs, with an aim to detect source of disease or to exclude pathology. It is also used to examine pregnant women. It is considered as relatively safer imaging modality as there is no ionizing radiation used to obtain traditional radiographs as compared to other imaging techniques.
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