HOME Top Market Reports Ultrasound Market by Diagnostic Ultrasound (2D, 3D, 4D, Doppler), Therapeutic Ultrasound (HIFU, ESWL), Products (Cart/Trolley-based, Compact, PoC), Applications (OB/GYN, Cardiac Ultrasound, Vascular Ultrasound, Surgical Ultrasound) - Global Forecasts to 2020

Ultrasound Market by Diagnostic Ultrasound (2D, 3D, 4D, Doppler), Therapeutic Ultrasound (HIFU, ESWL), Products (Cart/Trolley-based, Compact, PoC), Applications (OB/GYN, Cardiac Ultrasound, Vascular Ultrasound, Surgical Ultrasound) - Global Forecasts to 2020

By: marketsandmarkets.com
Publishing Date: March 2016
Report Code: MD 2885

 

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The global ultrasound market is expected to reach USD 6.86 Billion by 2020 from USD 5.25 Billion in 2015, at a CAGR of 5.5% from 2015 to 2020. Market growth can be attributed to the rising patient population base for chronic and lifestyle-related disorders (such as hypertension and vascular disorders) coupled with growing geriatric population; technological advancements; increasing public-private investments, funds, and grants; and growing market demand for minimally invasive disease diagnosis and treatment.

Europe is expected to account for the largest share of the global ultrasound market in 2015, followed by North America (comprising the U.S. and Canada). Factors such as increase in the number of products being commercialized, expansion in clinical applications of HIFU, increasing market penetration of therapeutic ultrasound, and growing emphasis on minimally invasive procedures (including diagnostic and therapeutic ultrasound) are driving the market in the European region. However, Asia-Pacific (comprising China, India, Japan, and the Rest of Asia-Pacific) is poised to be the fastest-growing region in the market during the forecast period, owing to significant expansion and modernization of the healthcare infrastructure, increasing number of age-related illnesses, growing public awareness about therapeutic benefits offered by ultrasound, and increasing focus of international device manufacturers on strengthening their distribution networks in APAC.

In 2015, General Electric Company (U.S.) dominated the global ultrasound market. Over the past three years, the company adopted product commercialization, agreements and collaborations, geographic expansions, and awareness campaigns as key business strategies to maintain its position in the market. The other key players in the market include Koninklijke Philips N.V. (Netherlands), Toshiba Corporation (Japan), Siemens AG (Germany), Hitachi Ltd. (Japan), Samsung Electronics Co., Ltd. (South Korea), FUJIFILM Holdings Corporation (Japan), Esaote S.p.A. (Italy), Mindray Medical International Ltd. (China), and Analogic Corporation (U.S.).

Ultrasound Market Stakeholders

  • Ultrasound Device Manufacturing Companies
  • Healthcare Service Providers (Including Hospitals and Clinics)
  • Research and Development (R&D) Companies
  • Research Institutes and Clinical Research Organizations (CRO’s)
  • Market Research and Consulting Firms
  • Medical Device Suppliers and Distributors
  • Diagnostic Centers

To know about the assumptions considered for the study, download the pdf brochure

Scope of the Report

This research report categorizes the ultrasound market into the following segments and subsegments:

Ultrasound Market, by Technology

  • Diagnostic Ultrasound
    • 2D Ultrasound
    • 3D & 4D Ultrasound
    • Doppler Ultrasound
  • Therapeutic Ultrasound
    • High-intensity Focused Ultrasound
    • Extracorporeal Shockwave Lithotripsy

Ultrasound Market, by Device Display

  • Color Ultrasound Devices
  • Black and White Ultrasound Devices

Ultrasound Market, by Portability

  • Trolley/Cart-based Ultrasound Devices
  • Compact/Handheld Ultrasound Devices
    • Point-of-care Ultrasound Devices

Ultrasound Market, by Application

  • Radiology/General Imaging
  • Cardiology
  • Obstetrics/Gynecology
  • Vascular
  • Urology
  • Other Applications (Includes Breast Imaging, Hepatology, Anesthesiology, and Emergency Care, Among Others)

Ultrasound Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Rest of Europe (RoE)
  • Asia-Pacific
    • Japan
    • China
    • India
    • Rest of Asia-Pacific (RoAPAC)
  • Rest of the World (RoW)

Available Customizations

Product Analysis

  • Product Matrix, which gives a detailed comparison of the product portfolio of each company

Geographic Analysis

  • Further breakdown of the rest of Asia-Pacific ultrasound market into South Korea, Australia, and New Zealand, and others
  • Further breakdown of the rest of the world ultrasound market into Latin America, Middle East , and African segments
  • Further breakdown of the Latin American ultrasound market into Brazil, Argentina, and Rest of Latin America

Company Information

  • Detailed analysis and profiling of additional market players (Up to 5)

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Geographies Covered
    1.4 Years Considered for the Study
    1.5 Currency
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology (Page No. - 18)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Breakdown of Primaries
    2.2 Factor Analysis
           2.2.1 Introduction
           2.2.2 Demand-Side Analysis
                    2.2.2.1 Rapid Growth of Aging Population
                    2.2.2.2 Incidence and Prevalence of Cancer
                    2.2.2.3 Burden of Cardiovascular Diseases (CVDS)
                    2.2.2.4 Birth Rate/Number of Pregnancies
                    2.2.2.5 Healthcare Expenditure Patterns
           2.2.3 Supply-Side Analysis
                    2.2.3.1 Number of New Product Launches: Ultrasound vs Competitive Technologies
                    2.2.3.2 Parent Market Analysis: Diagnostic Imaging Systems Market
    2.3 Market Size Estimation
           2.3.1 Bottom-Up Approach
           2.3.2 Top-Down Approach
    2.4 Market Breakdown and Data Triangulation
    2.5 Research Assumptions
           2.5.1 Assumptions

3 Executive Summary (Page No. - 36)
    3.1 Introduction
    3.2 History, Evolution, and Current Scenario
    3.3 Future Outlook
    3.4 Conclusion

4 Premium Insights (Page No. - 41)
    4.1 Global Ultrasound Market (2015–2020)
    4.2 Global Market Size, By Technology (2015)
    4.3 Global Market Size, By Device Display (2015–2020)
    4.4 Global Market Size, By Device Portability (2015–2020)
    4.5 Global Market Volume, By Region (2015–2020)
    4.6 Global Market Size, By Application (2015–2020)
    4.7 Market Share, By Region/Country (2015–2020)

5 Market Overview (Page No. - 48)
    5.1 Introduction
    5.2 Technological Innovations in Ultrasound (Till December, 2015)
    5.3 Market Segmentation
    5.4 Market Dynamics
           5.4.1 Market Drivers
                    5.4.1.1 Technological Advancements in Ultrasound
                    5.4.1.2 Growth in the Global Geriatric Population
                    5.4.1.3 Rising Incidence of Chronic and Lifestyle-Related Diseases
                    5.4.1.4 Increasing Public-Private Investments, Funds, and Grants
                    5.4.1.5 Growing Market Demand for Minimally Invasive Treatments
           5.4.2 Market Restraints
                    5.4.2.1 Dearth of Skilled Sonographers
                    5.4.2.2 Unfavorable Healthcare Reforms in the U.S.
           5.4.3 Market Opportunities
                    5.4.3.1 Technological Shift From Conventional to PoC Ultrasound Diagnosis
                    5.4.3.2 Growing Penetration of Ultrasound Device Manufacturers in Emerging Nations
                    5.4.3.3 Increasing Number of Hospitals and Diagnostics Centers
           5.4.4 Market Challenges
                    5.4.4.1 Non-Uniformity in Regulatory Frameworks
                    5.4.4.2 Escalating Pricing Pressures on Ultrasound Market Players

6 Industry Trends (Page No. - 59)
    6.1 Introduction
    6.2 Value Chain Analysis
    6.3 Supply Chain Analysis
           6.3.1 Key Stakeholders
           6.3.2 Key Influencers
    6.4 Industry Trends
           6.4.1 Technological Advancements in Ultrasound Systems
           6.4.2 Development of Application-Specific Ultrasound Devices
           6.4.3 Emergence of Point-Of-Care (PoC) Ultrasound
    6.5 Porter’s Five Forces Analysis
           6.5.1 Threat of New Entrants
           6.5.2 Threat From Substitutes
           6.5.3 Bargaining Power of Suppliers
           6.5.4 Bargaining Power of Buyers
           6.5.5 Intensity of Competitive Rivalry

7 Ultrasound Market, By Technology (Page No. - 68)
    7.1 Introduction
    7.2 Diagnostic Ultrasound
           7.2.1 2D 
           7.2.2 3D & 4D 
           7.2.3 Doppler Imaging
    7.3 Therapeutic Ultrasound
           7.3.1 High-Intensity Focused Ultrasound (HIFU)
           7.3.2 Extracorporeal Shockwave Lithotripsy (ESWL)

8 Global Ultrasound Market, By Device Display (Page No. - 78)
    8.1 Introduction
           8.1.1 Color Devices
           8.1.2 Black & White (B/W) Devices

9 Global Ultrasound Market, By Device Portability (Page No. - 83)
    9.1 Introduction
           9.1.1 Trolley/Cart-Based Devices
           9.1.2 Compact/Handheld Devices
                    9.1.2.1 Point-Of-Care (PoC Ultrasound)

10 Global Ultrasound Market, By Application (Page No. - 91)
     10.1 Introduction
     10.2 Radiology/General Imaging Applications
     10.3 Obstetrics/Gynecological Applications
     10.4 Cardiological Applications
     10.5 Urological Applications
     10.6 Vascular Applications
     10.7 Other Applications

11 Ultrasound Market, By Region (Page No. - 102)
     11.1 Introduction
             11.1.1 Europe
                        11.1.1.1 Germany
                        11.1.1.2 France
                        11.1.1.3 U.K.
                        11.1.1.4 Rest of Europe
             11.1.2 North America
                        11.1.2.1 U.S.
                        11.1.2.2 Canada
             11.1.3 Asia-Pacific
                        11.1.3.1 China
                        11.1.3.2 Japan
                        11.1.3.3 India
                        11.1.3.4 Rest of Asia-Pacific
             11.1.4 Rest of the World (RoW)
                        11.1.4.1 Latin America
                        11.1.4.2 Middle East
                        11.1.4.3 Africa

12 Competitive Landscape (Page No. - 128)
     12.1 Overview
     12.2 Market Share Analysis
     12.3 Competitive Situation and Trends
             12.3.1 Product Launches, Approvals, and Enhancements
             12.3.2 Agreements, Partnerships, and Collaborations
             12.3.3 Mergers and Acquisitions
             12.3.4 Geographical Expansions
             12.3.5 Other Developments

13 Company Profiles (Page No. - 136)
     13.1 Introduction
             13.1.1 Geographic Benchmarking
             13.1.2 Strategic Benchmarking
                        13.1.2.1 Entry Into Point-Of-Care Ultrasound Market
     13.2 Analogic Corporation
             13.2.1 Business Overview
             13.2.2 Products Offered
             13.2.3 Recent Developments
     13.3 Esaote S.P.A.
             13.3.1 Business Overview
             13.3.2 Products Offered
             13.3.3 Recent Developments
     13.4 Fujifilm Holdings Corporation
             13.4.1 Business Overview
             13.4.2 Products Offered
             13.4.3 Recent Developments
     13.5 General Electric Company
             13.5.1 Business Overview
             13.5.2 Products Offered
             13.5.3 Recent Developments
             13.5.4 MnM View
     13.6 Hitachi Ltd.
             13.6.1 Business Overview
             13.6.2 Products Offered
             13.6.3 Recent Developments
             13.6.4 MnM View
     13.7 Koninklijke Philips N.V.
             13.7.1 Business Overview
             13.7.2 Products Offered
             13.7.3 Recent Developments
             13.7.4 MnM View
     13.8 Mindray Medical International Ltd.
             13.8.1 Business Overview
             13.8.2 Products Offered
             13.8.3 Recent Developments
     13.9 Samsung Electronics Co. Ltd.
             13.9.1 Business Overview
             13.9.2 Products Offered
             13.9.3 Recent Developments
     13.10 Siemens AG
             13.10.1 Business Overview
             13.10.2 Products Offered
             13.10.3 Recent Developments
             13.10.4 MnM View
     13.11 Toshiba Corporation
             13.11.1 Business Overview
             13.11.2 Products Offered
             13.11.3 Recent Developments
             13.11.4 MnM View

14 Appendix (Page No. - 174)
     14.1 Insights of Industry Experts
     14.2 Discussion Guide
     14.3 Introducing RT: Real-Time Market Intelligence
     14.4 Available Customizations
     14.5 Related Reports


List of Tables (77 Tables)

Table 1 Global Ultrasound Market Size, By Technology, 2013-2020 (USD Million)
Table 2 Global Diagnostic Technology Market Size, By Type, 2013-2020 (USD Million)
Table 3 Diagnostic Technology Market Size, By Region, 2013-2020 (USD Million)
Table 4 2D Ultrasound Technology Market Size, By Region, 2013-2020 (USD Million)
Table 5 3D and 4D Ultrasound Technology Market Size, By Region, 2013-2020 (USD Million)
Table 6 Doppler Ultrasound Technology Market Size, By Region, 2013-2020 (USD Million)
Table 7 Global Therapeutic Ultrasound Technology Market Size, By Type, 2013-2020 (USD Million)
Table 8 Therapeutic Ultrasound Technology Market Size, By Region, 2013-2020 (USD Million)
Table 9 HIFU Technology Market Size, By Region, 2013-2020 (USD Million)
Table 10 ESWL Technology Market Size, By Region, 2013-2020 (USD Million)
Table 11 Ultrasound Devices Market Size, By Type of Display, 2013-2020 (USD Million)
Table 12 Ultrasound Devices Market Volume, By Type of Display, 2013-2020 (Units)
Table 13 Color Devices Market Size, By Region, 2013-2020 (USD Million)
Table 14 Color Devices Market Volume, By Region, 2013-2020 (Units)
Table 15 Black and White Devices Market Size, By Region, 2013-2020 (USD Million)
Table 16 Black & White Devices Market Volume, By Region, 2013-2020 (Units)
Table 17 Ultrasound Devices Market Size, By Portability, 2013-2020 (USD Million)
Table 18 Ultrasound Devices Market, By Portability 2013-2020 (Units)
Table 19 Trolley/Cart-Based Devices Market Size, By Region, 2013-2020 (USD Million)
Table 20 Trolley/Cart-Based Devices Market, By Region, 2013-2020 (Units)
Table 21 Compact/Handheld Devices Market Size, By Region, 2013-2020 (USD Million)
Europe Accounted for the Largest Share of 35.0% of the Compact/Handheld Device Market, in 2015. This Geographic Segment is Poised to Reach USD 730.5 Million By 2020 From USD 460.6 Million in 2015, Growing at A CAGR of 9.7% From 2015-2020.
Table 22 Compact/Handheld Devices Market, By Region, 2013-2020 (Units)
Table 23 PoC Devices Market Size, By Region, 2013-2020 (USD Million)
Table 24 Global Market Size, By Application, 2013–2020 (USD Million)
Table 25 Market Size for Radiology/General Imaging Applications, By Region, 2013–2020 (USD Million)
Table 26 Market Size for Obstetrics/Gynecological Applications, By Region, 2013–2020 (USD Million)
Table 27 Market Size for Cardiological Applications, By Region, 2013–2020 (USD Million)
Table 28 Market Size for Urological Applications, By Region, 2013–2020 (USD Million)
Table 29 Market Size for Vascular Applications, By Region, 2013–2020 (USD Million)
Table 30 Market Size for Other Applications, By Region, 2013–2020 (USD Million)
Table 31 Market Size, By Region, 2013-2020 (USD Million)
Table 32 Europe: Market Size, By Country, 2013-2020 (USD Million)
Table 33 Europe: Diagnostic Ultrasound Market Size, By Technology, 2013-2020 (USD Million)
Table 34 Europe: Therapeutic Ultrasound Market Size, By Technology, 2013-2020 (USD Million)
Table 35 Europe: Market Size, By Type of Display, 2013-2020 (USD Million)
Table 36 Europe: Market Size, By Type of Display, 2013-2020 (Units)
Table 37 Europe: Market Size, By Portability, 2013-2020 (USD Million)
Table 38 Europe: Market Size, By Portability, 2013-2020 (Units)
Table 39 Europe: Market Size, By Application, 2013-2020 (USD Million)
Table 40 Germany: Ultrasound Market Size, By Type of Display, 2013-2020 (USD Million)
Table 41 France: Ultrasound Market Size, By Type of Display, 2013-2020 (USD Million)
Table 42 U.K.: Ultrasound Market Size, By Type of Display, 2013-2020 (USD Million)
Table 43 Roe: Ultrasound Market Size, By Type of Display, 2013-2020 (USD Million)
Table 44 North America: Ultrasound Market Size, By Country, 2013-2020 (USD Million)
Table 45 North America: Diagnostic Ultrasound Market Size, By Technology, 2013-2020 (USD Million)
Table 46 North America: Therapeutic Ultrasound Market Size, By Technology, 2013-2020 (USD Million)
Table 47 North America: Ultrasound Market Size, By Type of Display, 2013-2020 (USD Million)
Table 48 North America: Ultrasound Market Size, By Type of Display, 2013-2020 (Units)
Table 49 North America: Ultrasound Market Size, By Portability, 2013-2020 (USD Million)
Table 50 North America: Ultrasound Market Size, By Portability, 2013-2020 (Units)
Table 51 North America: Ultrasound Market Size, By Application, 2013-2020 (USD Million)
Table 52 U.S.: Ultrasound Market Size, By Type of Display, 2013-2020 (USD Million)
Table 53 Canada: Ultrasound Market Size, By Type of Display, 2013-2020 (USD Million)
Table 54 Source: Globocan 2012apac: Ultrasound Market Size, By Country, 2013-2020 (USD Million)
Table 55 APAC: Diagnostic Ultrasound Market Size, By Technology, 2013-2020 (USD Million)
Table 56 APAC: Therapeutic Ultrasound Market Size, By Technology, 2013-2020 (USD Million)
Table 57 APAC: Ultrasound Market Size, By Type of Display, 2013-2020 (USD Million)
Table 58 APAC: Ultrasound Market Size, By Type of Display, 2013-2020 (Units)
Table 59 APAC: Ultrasound Market Size, By Portability, 2013-2020 (USD Million)
Table 60 APAC: Ultrasound Market Size, By Portability, 2013-2020 (Units)
Table 61 APAC: Ultrasound Market Size, By Application, 2013-2020 (USD Million)
Table 62 China: Ultrasound Market Size, By Type of Display, 2013-2020 (USD Million)
Table 63 Japan: Ultrasound Market Size, By Type of Display, 2013-2020 (USD Million)
Table 64 India: Ultrasound Market Size, By Type of Display, 2013-2020 (USD Million)
Table 65 Roapac: Ultrasound Market Size, By Type of Display, 2013-2020 (USD Million)
Table 66 RoW: Diagnostic Ultrasound Market Size, By Technology, 2013-2020 (USD Million)
Table 67 RoW: Therapeutic Ultrasound Market Size, By Technology, 2013-2020 (USD Million)
Table 68 RoW: Ultrasound Market Size, By Type of Display, 2013-2020 (USD Million)
Table 69 RoW: Ultrasound Market Size, By Type of Display, 2013-2020 (Units)
Table 70 RoW: Ultrasound Market Size, By Portability, 2013-2020 (USD Million)
Table 71 RoW: Ultrasound Market Size, By Portability, 2013-2020 (Units)
Table 72 RoW: Ultrasound Market Size, By Application, 2013-2020 (USD Million)
Table 73 Top 5 Product Launches, Approvals, and Enhancements, 2012–2016
Table 74 Top 5 Agreements, Partnerships, and Collaborations, 2012–2016
Table 75 Top 5 Mergers and Acquisitions, 2012–2015
Table 76 Top 5 Geographical Expansions, 2012–2015
Table 77 Top Other Developments, 2012–2015


List of Figures (69 Figures)

Figure 1 Research Design
Figure 2 Increase in Aging Population, By Country (2010 vs 2015)
Figure 3 Percentage Increase in Aging Population, By Region (1980–2010 vs 2010–2040)
Figure 4 Global Burden of Cancer, By Region (2005–2030)
Figure 5 Number of New Cancer Cases, By Country (2012 vs 2020)
Figure 6 Increasing Incidences of Various Cancers, By Site, 2008–2020
Figure 7 Cardiovascular Diseases Burden, By Region (2005–2030)
Figure 8 Annual Birth Rate in Developed and Developing Nations (2013)
Figure 9 Healthcare Expenditure Across Major Countries, 2000 vs 2012
Figure 10 Healthcare Spending Matrix, By Country (2013)
Figure 11 Number of New Product Launches: Ultrasound vs Competitive Modalities (2008–2015)
Figure 12 Revenue Growth and Market Share: Ultrasound vs Competitive Modalities
Figure 13 Bottom-Up Approach
Figure 14 Top-Down Approach
Figure 15 Data Triangulation
Figure 16 Assumptions of the Research Study
Figure 17 Global Ultrasound Systems Market, Market Share Analysis (2015)
Figure 18 HIFU to Be the Fastest-Growing Ultrasound Technology Segment During 2015-2020
Figure 19 Cardiac Ultrasound: the Fastest-Growing Ultrasound Application Segment  During 2015-2020
Figure 20 Asia-Pacific to Grow at the Highest Rate During Forecast Period
Figure 21 Market Growth Opportunities in the Ultrasound Market
Figure 22 Europe to Command the Largest Share in Major Ultrasound Technology Markets in 2015
Figure 23 APAC to Lead Market Demand for Key Ultrasound Products During the Forecast Period
Figure 24 Europe is Expected to Dominate Trolley/Cart-Based and Compact/Handheld Ultrasound Devices Market Till 2020
Figure 25 APAC to Lead the Volume Growth for All Key Ultrasound Product Categories Till 2020
Figure 26 Top 3 Application Segments to Account for 3/4th of Ultrasound Market Growth By 2020
Figure 27 China and India to Lead Market Growth for Ultrasound Products Till 2020
Figure 28 Evolution of Ultrasound Technology
Figure 29 Technological Advancements to Spur Demand for Ultrasound Devices
Figure 30 Advanced Devices in the Market: 2015
Figure 31 Growing Geriatric Population Across Key Geographies (2015-2030)
Figure 32 Percentage Change in Annual Healthcare Expenditure: Developed vs Developing Countries (2010-2013)
Figure 33 Value Chain Analysis (2014): Major Value is Added During Manufacturing Phase
Figure 34 Ultrasound Market: Supply Chain
Figure 35 Porter’s Five Forces Analysis (2014): Presence of A Large Number of Manufacturing Firms Increases Competition
Figure 36 Rise in Aging Population to Drive the Growth of the HIFU Segment Till 2020
Figure 37 APAC Market for Diagnostic Ultrasound to Grow at the Highest Rate Till 2020
Figure 38 European Market for Therapeutic Ultrasound to Grow at A CAGR of 10.5% Till 2020
Figure 39 Aging Population is Expected to Drive the Growth of the HIFU Segment During the Forecast Period
Figure 40 APAC Color Ultrasound Market to Grow at the Highest CAGR During 2015-2020
Figure 41 APAC and Europe to Show the Highest Growth in the Compact/Handheld Ultrasound Devices Volume Market During 2015-2020
Figure 42 Trolley/Cart-Based Ultrasound Device Architecture
Figure 43 Compact/Handheld Ultrasound Device Architecture
Figure 44 Global Prevalence of Cancer, By Type (2012 vs 2020)
Figure 45 Comparative Study of HIFU and Conventional Treatments for Uterine Fibroids
Figure 46 Growth in the Geriatric Population is Anticipated to Be Highest in China During 2010–2040
Figure 47 Increasing Prevalence of Prostate Cancer to Propel the Demand Growth for HIFU Devices (2012 vs 2020)
Figure 48 Number of Deaths Due to Stroke is Expected to Double Worldwide During 2010–2030
Figure 49 Rising Incidences of Breast Cancer to Drive the Ultrasound Market, 2012 vs 2020
Figure 50 Europe: Ultrasound Market Trends (2015-2020)
Figure 51 Rising Cancer Incidence in France is Propelling the Use of Diagnostic Ultrasound
Figure 52 North America: Ultrasound Market Trends (2015-2020)
Figure 53 Increasing Incidence of Prostate Cancer to Drive Ultrasound Market Growth in North America
Figure 54 Asia-Pacific: Ultrasound Market Trends (2015-2020)
Figure 55 Rising Incidence of Lung and Stomach Cancer is Propelling the Use of Ultrasound Procedures in APAC
Figure 56 Majority of Ultrasound Market Players Adopted the Strategy of New Product Launches and Enhancements During 2015-2020
Figure 57 Global Ultrasound Market Share Analysis, By Key Player (2015)
Figure 58 Increasing Number of Innovative Product Launches is Stimulating Market Growth
Figure 59 Geographic Revenue Mix of Top 5 Market Players (2014)
Figure 60 Point-Of-Care Ultrasound: an Emerging Market Segment for Ultrasound Device Manufacturers
Figure 61 Analogic Corporation: Company Snapshot
Figure 62 Fujifilm Holdings Corporation: Company Snapshot
Figure 63 General Electric Company: Company Snapshot
Figure 64 Hitachi Ltd.: Company Snapshot
Figure 65 Koninklijke Philips N.V.: Company Snapshot
Figure 66 Mindray Medical International Ltd.: Company Snapshot
Figure 67 Samsung Electronics Co. Ltd.: Company Snapshot
Figure 68 Siemens AG: Company Snapshot
Figure 69 Toshiba Corporation: Company Snapshot

The global ultrasound market is expected to reach USD 6.86 Billion by 2020 from USD 5.25 Billion in 2015, at a CAGR of 5.5% from 2015 to 2020. Market growth can be attributed to ongoing technological advancements, increasing public-private investments (including government funding and grants), and growing market demand for minimally invasive diagnostic and therapeutic techniques (including ultrasound). However, dearth of skilled and well-trained sonographers and unfavorable healthcare reforms in the U.S. are major factors restraining the market growth during the forecast period.

On the basis of technology, ultrasound market is segmented into diagnostic (2D, 3D and 4D, and Doppler) and therapeutic ultrasound (high-intensity focused ultrasound and extracorporeal shockwave lithotripsy). The diagnostic ultrasound segment is expected to account for the largest share of the ultrasound technology market in 2015. The strong market positioning of this technology segment is attributed to the use of 2D ultrasound in disease diagnosis, availability of significant medical reimbursement (particularly in mature markets), ongoing technological advancements in the field of diagnostic ultrasound imaging, and expansion of application horizon of 3D and 4D ultrasound in disease diagnosis.

On basis of device display, ultrasound products are categorized into color and black & white ultrasound devices. The color ultrasound segment is expected to account for the largest share of the global ultrasound market and is expected to grow at the highest CAGR from 2015 to 2020. Factors such as technological benefits offered by color ultrasound, growing market availability of advanced color ultrasound devices (coupled with expansion of distribution networks of OEMs in mature and emerging markets), rising market demand for minimally invasive therapies across major markets (such as the U.S., Germany, the U.K., Japan, and China), and rising trend of the competitive pricing strategy adopted by device manufacturers (such as low price of entry level color ultrasound products) are contributing to the growth of the color ultrasound segment.

Geographically, the ultrasound market is classified into four regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World. Europe is expected to account for the largest share of the global market in 2015, followed by North America (comprising the U.S. and Canada). Factors such as increase in the number of products being commercialized, expansion in clinical applications of HIFU, increasing market penetration of therapeutic ultrasound, and growing emphasis on minimally invasive procedures (including diagnostic and therapeutic ultrasound) are driving the market in the European region. However, Asia-Pacific (comprising China, India, Japan, and the Rest of Asia-Pacific) is poised to be the fastest-growing region in the ultrasound market during the forecast period, owing to significant expansion and modernization of the healthcare infrastructure, increasing number of age-related illnesses, growing public awareness about therapeutic benefits offered by ultrasound, and increasing focus of international device manufacturers on strengthening their distribution networks in APAC.

Product development & commercialization and agreements, collaborations, and partnerships are the key strategies adopted by major players to strengthen their positions in the global ultrasound market. As of 2015, General Electric Company (U.S.), Koninklijke Philips N.V. (Netherlands), Toshiba Corporation (Japan), Siemens AG (Germany), Hitachi Ltd. (Japan), Samsung Electronics Co., Ltd. (South Korea), FUJIFILM Holdings Corporation (Japan), Esaote S.p.A. (Italy), Mindray Medical International Ltd. (China), and Analogic Corporation (U.S.) were the leading players operating in the global ultrasound market.

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