Diagnostic Ultrasound Market Size By Technology (2D, 3D and 4D, Doppler), By Portability (Trolley, Compact/Handheld), By Application (General Imaging, Cardiology, Obstetrics / Gynecology, Others), By End use (Hospitals, Maternity Centers, Others), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Mexico, South Africa, Saudi Arabia), Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 - 2024

Industry Trends

Diagnostic Ultrasound Market size was valued over USD 5 billion in 2016, with growth forecast to witness more than 3% CAGR from 2017 to 2024.
 

U.S. Diagnostic Ultrasound Market size, By Application, 2013-2024 (USD Million)

 

Diagnostic ultrasound market is slated to witness lucrative growth over the forecast period. Rising chronic disease incidence along with growing elderly population pool will drive market growth. Lower cost and safety associated with the technology has made it attractive in healthcare settings catering to the elderly.
 

Increasing birth rate in certain countries serves as a high impact rendering factor. During the pregnancy period, healthcare practitioners recommend women to undergo ultrasound scan to check the form of the baby inside the womb. Ability of the technique to detect anomalies in baby’s position and actions inside the mother’s womb which may lead to harmful diseases further propels its adoption.
 

Technological advancements such as improvement in image quality, miniaturization of equipment, inclusion of more clinical applications and introduction of wireless transducers will spur demand over the forecast years.
 

However, scarcity of skilled professionals required for operating ultrasound scanners restrains industry expansion as it results in device under-utilization and increased patient waiting period.
 

Diagnostic Ultrasound Market, By Technology

Demand for devices with 3D and 4D technology will grow at a rapid rate over the forecast timeframe. 3D scan is achieved by scanning the tissue cross sections at various angles while 4D scans add the fourth dimension of movement to create an enhanced image. The decreased patient waiting time achieved using this technology because of its faster scan time and the ability to reveal abnormality not seen in conventional 2D scans are the prime factors stimulating demand. Furthermore, 3D and 4D scan provide a better anatomical view as compared to the traditional 2D technology and lead to complete examination through increased perspective from volume data.
 

Diagnostic Ultrasound Market, By Portability

Compact or handheld diagnostic ultrasound systems are poised to witness fastest growth over the forecast years. These devices enable medical professionals to bring the point of care to the patients rather than taking the patients to the scanner leading to higher patient convenience.

Trolley diagnostic ultrasound systems held significant industry share. Advantages of these devices over compact systems such as better image quality, enhanced interface and more features coupled with longer product lifespan fuel segment growth. However, high cost of these devices coupled with need for larger space hampers adoption.
 

Diagnostic Ultrasound Market, By Application

Application of the technology in obstetrics and gynecology (OB/GYN) is slated to increase at a rapid pace as it has become an indispensable part of antenatal care. Benefit of ultrasound scans in reducing maternal and fetal morbidity and mortality will propel industry growth. The most important application of the technique is in estimation of fetal maturity, preoperative diagnosis of hydatidiform mole and localization of placenta.
 

General imaging segment will grow at rapid rate owing to increasing use of ultrasound for abdominal and musculoskeletal applications.
 

Diagnostic Ultrasound Market, By End use

Among the end-users of ultrasound systems, maternity centers will contribute significantly to the industry growth over the forecast years due to increasing number of births in this setting. Factors such as insurance coverage, reduced length of stay and lower delivery costs as compared to traditional hospitals are increasing number of deliveries in these centers.
 

Hospital end-user market segment held significant industry share in 2016 owing to high number of patients undergoing scans for various orthopedic, abdominal, vascular and cardiac ailments.
 

Diagnostic Ultrasound Market, By Region

India diagnostic ultrasound market is poised to grow at a rapid rate owing to expansion of public hospitals, diagnostic centers and private clinics especially in sub-urban areas. Presence of large patient pool suffering from chronic diseases will further spur demand.
 

UK diagnostic ultrasound market should grow at a lucrative rate over the forecast period. Increasing pressure to expand hospital ultrasound department capacity with the introduction of new equipment and staff to meet increasing demand will drive industry growth.
 

Competitive Market Share

Few well-established industry participants include GE Healthcare, Toshiba, Siemens, Koninklijke Philips N.V., Samsung and Hitachi. Other players include SonoScape Medical, Mindray, Fukuda Denshi, Fujifilm Sonosite, SIUI, Telemed Medical, Chison, Promed Group etc. The industry players adopt various strategies such as increasing product portfolio and sales focus, acquisitions and collaborations to capitalize on market opportunity. For instance, in July 2017, Koninklijke Philips N.V. entered into an agreement to acquire TomTec Imaging Systems. The acquisition will strengthen the company’s position in cardiac ultrasound segment.
 

Diagnostic Ultrasound Industry Background
 

Rapid advancements in ultrasound device technologies should boost their adoption rate. Industry players are engaged in rigorous R & D focused on increasing portability, enhancing image quality and improving overall performance. Manufacturing firms are also trying to include more number of specialized procedures which would broaden device diagnostic capability. The three technological trends of miniaturization, intuitive interfaces and software driven platforms are synergistically evolving ultrasound into an affordable and high-performance imaging tool that is accessible to a broader user base. Furthermore, because of the transition from hardware based to software based technology, capabilities which earlier existed on high-end units can be migrated across a range of units. Improvements in battery technology are leading to smaller and lighter batteries with longer life propelling portable system development. Advancements in communication is expected to further fuel device adoption during the forecast years. Several portable ultrasound devices have wireless LAN capabilities which aids healthcare providers in developing countries in getting diagnostic overreads on ultrasound exams. However, the industry is also confronted with various socio-political issues of which the most important is that of misuse of pre-natal diagnostic ultrasound for child sex determination which hampers industry growth.

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