Ultrasound Device Industry is projected to Grow At 6% CAGR Till 2024
Posted by Marketoverview on February 18th, 2018
The Global Ultrasound Device Market was worth USD 6.9 billion in 2015. It is projected to grow at a CAGR of 6% from 2016 to 2024 (forecast period). Chief market drivers are increasing incidences of chronic and hypertension related disorders.
Ultrasound technology is used to treat prostate cancer and kidney stones. It is the most preferred mode of fetal screening across the globe. Trials are underway to find novel applications like detecting breast fibroadenoma and uterine fibroids. This coupled with escalating public-private investments would create opportunities for ultrasound devices.
The market is segmented as per products, portability, and regions. Products are split into diagnostic ultrasound devices and therapeutic ultrasound devices. Diagnostic ultrasound devices are further segmented into 2D devices and 3D/4D devices. They accounted for the largest market share in 2015 due to a variety of applications in radiology, obstetrics, and oncology. Therapeutic ultrasound devices include HIFU (High Intensity Focused Ultrasound) and ESWL Extracorporeal Shockwave Lithotripsy).
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Based on portability, the market is divided into handheld devices and cart/trolley based devices. Handheld devices are expected to grow as a result of increasing preference for home healthcare and remote patient monitoring. They are likely to grow at a CAGR of 6.5% over the forecast period.Top Searches - Trending Searches - New Articles - Top Articles - Trending Articles - Featured Articles - Top Members
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