DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/rltjjv/ultrasound) has announced the addition of the "Ultrasound Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019" report to their offering.
The global market for ultrasound devices by value is expected to grow at a CAGR of 6.4% from 2013 to 2019 to reach an estimated value of US$ 8.7 billion in 2019.
The market for ultrasound devices has been segmented based on the type of product as: cart/trolley based ultrasound devices and compact ultrasound devices. Similarly, the market has also been categorized as: 2-D ultrasound imaging, 3-D and 4-D ultrasound imaging, high intensity frequency ultrasound imaging (HIFU), Doppler imaging and lithotripsy imaging. Likewise, ultrasound devices market by applications has also been segmented as obstetrics and gynecology (OBY/GYN), cardiovascular, abdominal and others (lungs, soft tissue and interventional radiology). Furthermore, the global market for ultrasound devices by volume is expected to grow at a CAGR of 8.8% from 2013 to 2019.
Aging population is primarily driving the growth of ultrasound devices market since elderly people often suffer from various diseases that generate the need for diagnosis. In addition, rise in incidences of various diseases such as cardiovascular diseases and oral diseases in all age groups of population would also accentuate the growth of this market. Furthermore, favorable reimbursement scenario also augments the growth of ultrasound devices market. Similarly, introduction of technologically advanced ultrasound devices such as VScan and LogiQ e will also expedite the growth of this market. However, imposition of medical device excise tax (MDET) on the sale of every ultrasound devices in the U.S. may hamper the overall growth of the market.
The market for cart/trolley based ultrasound devices accounted for the largest share by value and volume in 2012 and is expected to grow at a moderate CACR during the forecast period owing to their presence in the market since long. This has resulted due to their popularity in the ultrasound industry that increases their uptake. Due to large size, cart/trolley based ultrasound devices are not portable and hence restricts the utilization in operating room that moderates the overall CAGR from 2013 to 2019.
3-D & 4-D ultrasound imaging market is expected to foresee highest growth rate of over 10% during the forecast period from 2013 to 2019. This growth is attributed to its efficiency in diagnosing complex diseases precisely. In addition, this technology has proven to be successful in neurology and cardiovascular imaging. All these attributes supports the growth of this market.
Ultrasound devices usage was earlier restricted to abdominal imaging only, but with the advent of technological advancements in the devices, cardiovascular ultrasound imaging market is expected to grow at the highest CAGR from 2013 to 2019. Rising incidences of cardiovascular diseases primarily drive the growth of cardiovascular ultrasound imaging market. Unlike, CT scanners, ultrasound devices are able to produce real-time images of heart that further propels their utilization in cardiovascular imaging.
The global ultrasound devices market has been segmented as below:
Ultrasound Devices Market, by Product Type
- Cart/Trolley Based Ultrasound Device
- Compact Ultrasound Device
Ultrasound Devices Market, by Technology
- 2-D Ultrasound Imaging
- 3-D & 4-D Ultrasound Imaging
- Doppler Ultrasound Imaging
- High Intensity Frequency Ultrasound (HIFU) Imaging
- Lithotripsy Ultrasound Imaging
Ultrasound Devices Market, by Application
- Obstetrics and Gynecology
- Others (Ocular, MSK/Soft Tissue, Procedural Guidance studies and others)
- Esaote SpA and Fujifilm Holdings Corporation
- GE Healthcare
- Philps Healthcare
- Siemens Healthcare
- Toshiba American Medical Systems
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