Diagnostic Ultrasound Market to Witness Substantial Growth
Date: 2018-09-06   Author: Rahul Sankrityayan  Category: #industry

Diagnostic Ultrasound Market to Witness Substantial Growth

Diagnostic Ultrasound Market was valued over USD 5 billion in 2016 with its growth rate prognosticated to grow at a CAGR of more 3 % from 2018 to 2024.

Diagnostic Ultrasound Market size is estimated to witness remunerative growth due to increasing geriatric population, growth of chronic diseases, increasing birth rates in developing countries and technological advancements.

Elderly population carries a complex clinical scenarios and health histories that demands ultrasonic diagnostic methods to identify fatal diseases such as pulmonary embolism, gastric diseases. This will increase demand of ultrasound diagnostic devices over the forecast timeframe. Increasing birth rate also causes rise in demand of Ultrasonic devices. Ultrasound is essentially required in the early anomalies detection and to track fetal growth that spurs its adoption. Moreover, it is safe for the fetus, therefore it is accepted widely.

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Number of buyers reduces due to expensive machines and their heavy maintenance costs. Growth is hampered due to shortage of trained professionals leading to delayed diagnosis.

3D and 4D segment forecasted to witness rapid growth due to several advantages such as reduced time, better imaging resolution and ability to diagnose behavioral concerns that will support the segment growth. Moreover, their ability to provide a better anatomical view will stimulate the segment growth over forecast period.

Portable and better image quality diagnostics technique is widely accepted and demanded. It offers several advantages such as enhanced interface, better image quality and expanded product lifespan that will foster its demand. However, requirement of larger space and high cost of devices hampers adoption.

Diagnostic ultrasound technique is widely used in obstetrics and gynecology. Ultrasonography helps in detection of fetal growth disturbances, abnormalities in amniotic fluid volume, determining the delivery date and development of polyps in and outside the uterus to ensure safe pregnancy. Moreover, Maternal and fetal morbidity can be reduced using ultrasound scans that will foster segment growth.

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U.K. will dominate the diagnostic ultrasound market owing to hospitals equipped with innovative devices and trained staff. Growing prevalence of chronic diseases coupled with increasing affordability of devices due to high disposable income and innovative technologies will lead to robust regional growth.

The major industry participants are GE Healthcare, Hitachi Medical, Philips Healthcare, Toshiba Medical Systems, Samsung, and Siemens. Some other players include Shimadzu, AGFA HealthCare, Carestream Health, Fujifilm Sonosite, Fukuda Denshi, Telemed Medical, SIUI etc. The strategic initiatives adopted by these companies are acquisitions, mergers and product portfolio enhancement. For instance, in July 18, 2017 Philips declared acquisition of Tomlec Imaging Systems GmbH (TOMTEC) leading to company’s expansion in clinical areas such as cardiac segment, gynecology and obstetrics.

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Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for AlgosOnline, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in t...

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