HOME Top Market Reports Ultrasound Market by Technology (Diagnostic, Therapeutic, 2D, 3D/4D, HIFU), Display (B/W, Color), Portability (Cart, Compact, PoC), Application (Radiology, OB/GYN, Cardiac), End User (Hospitals, Academia, Ambulatory, Diagnostic Center) - Forecast to 2021

Ultrasound Market by Technology (Diagnostic, Therapeutic, 2D, 3D/4D, HIFU), Display (B/W, Color), Portability (Cart, Compact, PoC), Application (Radiology, OB/GYN, Cardiac), End User (Hospitals, Academia, Ambulatory, Diagnostic Center) - Forecast to 2021

By: marketsandmarkets.com
Publishing Date: February 2017
Report Code: MD 2885

 

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The global ultrasound market is estimated to reach USD 6.86 Billion by 2021 at a CAGR of 5.2% during the forecast period. The growth in this market can largely be attributed to factors such as rising patient population base for chronic and lifestyle-related disorders (coupled with a growing geriatric population that is at greater risk of target diseases as compared to adults); technological advancements; and growing market demand for minimally invasive diagnostic and therapeutic techniques (including ultrasound).

Emerging markets (such as China and India) are offering high growth opportunities for market players in the ultrasound industry. The rising incidence of chronic and infectious diseases, increase in awareness related to minimally invasive procedures, and continuously rising healthcare expenditure in the Asia-Pacific region are the key factors driving the demand for ultrasound in emerging nations. In order to leverage the high growth opportunities in these emerging nations, leading market players are expanding their presence in these countries.

As of 2015, General Electric Company (U.S.) held the leading position in the global market. The company adopted product launches, product approvals, & product enhancements; strategic acquisitions; and agreements as its key business strategies to ensure its dominance in this 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.).

Target Audience

  • 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
  • Market research and consulting firms

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 End Users

  • Hospitals and Diagnostic & Surgical Centers
  • Maternity Centers
  • Ambulatory Care Centers
  • Research and Academic Institutes
  • Other End users (Includes Physiotherapists, Independent Associations, Government Organizations, and Sports Academies)

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 the world ultrasound market into Latin American, the Middle Eastern, and African segments

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 Geographic Scope
    1.4 Years Considered for the Study
    1.5 Currency
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology (Page No. - 19)
    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 Opportunity Indicators
           2.2.1 Introduction
           2.2.2 Demand-Side Analysis
                    2.2.2.1 Rapid Growth of Aging Population
                    2.2.2.2 Increasing Incidence 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
    2.3 Market Estimation Methodology
           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. - 35)
    3.1 Introduction
    3.2 Current Market Scenario
    3.3 Conclusion

4 Premium Insights (Page No. - 40)
    4.1 Ultrasound: Market Overview
    4.2 Global Market Size, By Technology, 2016—2021, (USD Million)
    4.3 Regional Analysis: Market Size, By Application, 2016 vs 2021 (USD Million)
    4.4 Regional Analysis: Market Size, By End User, 2016 vs 2021 (USD Million)
    4.5 Global Ultrasound Market, By Country (2016–2021)

5 Market Overview (Page No. - 45)
    5.1 Introduction
    5.2 Technological Evolution
    5.3 Market Dynamics
           5.3.1 Major Market Drivers
                    5.3.1.1 Technological Advancements
                    5.3.1.2 Increasing Global Prevalence of Targeted Diseases
                    5.3.1.3 Rising Patient Preference for Minimally Invasive Procedures
                    5.3.1.4 Growing Public and Private Investments, Funding, and Grants
                    5.3.1.5 Increasing Birth Rates Especially Emerging Countries
           5.3.2 Major Market Restraints
                    5.3.2.1 Dearth of Skilled and Well-Trained Sonographers
                    5.3.2.2 Stringent Government Regulations
           5.3.3 Key Growth Opportunities
                    5.3.3.1 Expanding Application Horizon of Ultrasound
                    5.3.3.2 Emerging Markets
           5.3.4 Major Market Challenges
                    5.3.4.1 Growing End-User Preference for Refurbished Equipment

6 Industry Insights (Page No. - 55)
    6.1 Introduction
    6.2 Value Chain Analysis
    6.3 Supply Chain Analysis
           6.3.1 Major Stakeholders
           6.3.2 Key Influencers
    6.4 Industry Trends
           6.4.1 Device Miniaturization and Digitalization
           6.4.2 Emergence of Point-Of-Care Ultrasound
           6.4.3 Development of Application-Specific Ultrasound Devices
    6.5 Porter’s Five Forces Analysis
           6.5.1 Threat of New Entrants
           6.5.2 Threat of Substitutes
           6.5.3 Bargaining Power of Suppliers
           6.5.4 Bargaining Power of Buyers
           6.5.5 Intensity of Competitive Rivalry
    6.6 Pricing Trend Analysis
           6.6.1 North America
           6.6.2 Europe
           6.6.3 Asia-Pacific
           6.6.4 Rest of the World

7 Ultrasound Market, By Technology (Page No. - 66)
    7.1 Introduction
    7.2 Diagnostic Ultrasound
           7.2.1 2D Ultrasound
           7.2.2 3D and 4D Ultrasound
           7.2.3 Doppler Ultrasound
    7.3 Therapeutic Ultrasound
           7.3.1 High-Intensity Focused Ultrasound (HIFU)
           7.3.2 Extracorporeal Shockwave Lithotripsy (ESWL)

8 Ultrasound Market, By Device Display (Page No. - 76)
    8.1 Introduction
    8.2 Color Ultrasound Devices
    8.3 Black and White (B/W) Ultrasound Devices

9 Ultrasound Market, By Device Portability (Page No. - 82)
    9.1 Introduction
    9.2 Trolley/Cart-Based Ultrasound Devices
    9.3 Compact/Handheld Ultrasound Devices
           9.3.1 Point-Of-Care (POC) Ultrasound Devices

10 Ultrasound Market, By Application (Page No. - 89)
     10.1 Introduction
     10.2 Radiology/General Imaging Applications
     10.3 Obstetrics/Gynecology Applications
     10.4 Cardiology Applications
     10.5 Urology Applications
     10.6 Vascular Applications
     10.7 Other Applications

11 Ultrasound Market, By End User (Page No. - 99)
     11.1 Introduction
     11.2 Hospitals and Diagnostic & Surgical Centers
     11.3 Maternity Centers
     11.4 Ambulatory Care Centers
     11.5 Research and Academic Institutes
     11.6 Other End Users

12 Ultrasound Market, By Region (Page No. - 107)
     12.1 Introduction
     12.2 North America
             12.2.1 U.S.
             12.2.2 Canada
     12.3 Europe
             12.3.1 Germany
             12.3.2 U.K.
             12.3.3 France
             12.3.4 Rest of Europe
     12.4 Asia-Pacific
             12.4.1 Japan
             12.4.2 China
             12.4.3 India
             12.4.4 Rest of Asia-Pacific
     12.5 Rest of the World

13 Competitive Landscape (Page No. - 133)
     13.1 Overview
     13.2 Market Share Analysis
     13.3 Competitive Scenario
             13.3.1 Strategic Benchmarking
     13.4 Recent Developments
             13.4.1 Product Launches, Approvals, and Enhancements
             13.4.2 Agreements, Partnerships, and Collaborations
             13.4.3 Geographic Expansions
             13.4.4 Mergers & Acquisitions
             13.4.5 Other Developments

14 Company Profiles (Page No. - 142)
(Overview, Products and Services, Financials, Strategy & Development)*
     14.1 Introduction
     14.2 General Electric Company
     14.3 Koninklijke Philips N.V.
     14.4 Toshiba Corporation
     14.5 Siemens AG
     14.6 Hitachi Ltd.
     14.7 Fujifilm Holdings Corporation
     14.8 Samsung Electronics Co. Ltd.
     14.9 Mindray Medical International Ltd.
     14.10 Analogic Corporation
     14.11 Esaote S.P.A.
     14.12 Shimadzu Corporation

*Details on Overview, Products and Services, Financials, Strategy & Development Might Not Be Captured in Case of Unlisted Companies.

15 Appendix (Page No. - 185)
     15.1 Discussion Guide
     15.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     15.3 Introducing RT: Real-Time Market Intelligence
     15.4 Available Customizations
     15.5 Related Reports
     15.6 Author Details


List of Tables (75 Tables)

Table 1 Global Ultrasound Market Size, By Technology, 2014–2021 (USD Million)
Table 2 Global Diagnostic Ultrasound Technology Market Size, By Type, 2014–2021 (USD Million)
Table 3 Global Diagnostic Ultrasound Technology Market Size, By Region, 2014–2021 (USD Million)
Table 4 2D Diagnostic Ultrasound Technology Market Size, By Region, 2014–2021 (USD Million)
Table 5 3D/4D Diagnostic Ultrasound Technology Market Size, By Region, 2014–2021 (USD Million)
Table 6 Doppler Diagnostic Ultrasound Technology Market Size, By Region, 2014–2021 (USD Million)
Table 7 Global Therapeutic Ultrasound Technology Market Size, By Type, 2014–2021 (USD Million)
Table 8 Global Therapeutic Ultrasound Technology Market Size, By Region, 2014–2021 (USD Million)
Table 9 Therapeutic Ultrasound Technology Market Size for HIFU, By Region, 2014–2021 (USD Million)
Table 10 Therapeutic Ultrasound Technology Market Size for ESWL, By Region, 2014–2021 (USD Million)
Table 11 Global Ultrasound Market Size, By Type of Device Display, 2014–2021 (USD Million)
Table 12 Global Ultrasound Market Size, By Type of Device Display, 2014–2021 (Units)
Table 13 Global Color Ultrasound Devices Market Size, By Region, 2014–2021 (USD Million)
Table 14 Global Color Ultrasound Devices Market Size, By Region, 2014–2021 (Units)
Table 15 Global B/W Ultrasound Devices Market Size, By Region, 2014–2021 (USD Million)
Table 16 Global B/W Ultrasound Devices Market Size, By Region, 2014–2021 (Units)
Table 17 Global Ultrasound Market Size, By Device Portability, 2014–2021 (USD Million)
Table 18 Global Ultrasound Market Size, By Device Portability, 2014–2021 (Units)
Table 19 Trolley/Cart-Based Ultrasound Devices Market Size, By Region, 2014–2021 (USD Million)
Table 20 Trolley/Cart-Based Ultrasound Devices Market Size, By Region, 2014–2021 (Units)
Table 21 Compact/Handheld Ultrasound Devices Market Size, By Region, 2014–2021 (USD Million)
Table 22 Compact/Handheld Ultrasound Devices Market Size, By Region, 2014–2021 (Units)
Table 23 POC Ultrasound Devices Market Size, By Region, 2014–2021 (USD Million)
Table 24 Global Ultrasound Market Size, By Application, 2014-2021 (USD Million)
Table 25 Ultrasound Market Size for Radiology/General Imaging Applications, By Region, 2014-2021 (USD Million)
Table 26 Ultrasound Market Size for Ob/Gyn Applications, By Region, 2014-2021 (USD Million)
Table 27 Ultrasound Market Size for Cardiac Applications, By Region, 2014-2021 (USD Million)
Table 28 Ultrasound Market Size for Urological Applications, By Region, 2014-2021 (USD Million)
Table 29 Ultrasound Market Size for Vascular Applications, By Region, 2014-2021 (USD Million)
Table 30 Ultrasound Market Size for Other Applications, By Region, 2014-2021 (USD Million)
Table 31 Global Ultrasound Market Size, By End User, 2014–2021 (USD Million)
Table 32 Ultrasound Market Size for Hospitals and Diagnostic & Surgical Centers, By Region, 2014–2021 (USD Million)
Table 33 Ultrasound Market Size for Maternity Centers, By Region, 2014–2021 (USD Million)
Table 34 Ultrasound Market Size for Ambulatory Care Centers, By Region, 2014–2021 (USD Million)
Table 35 Ultrasound Market Size for Research and Academic Institutes, By Region, 2014–2021 (USD Million)
Table 36 Ultrasound Market Size for Other End Users, By Region, 2014–2021 (USD Million)
Table 37 Ultrasound Market Size, By Region, 2014–2021 (USD Million)
Table 38 North America: Ultrasound Market Size, By Country, 2014–2021 (USD Million)
Table 39 North America: Ultrasound Market Size, By Technology, 2014–2021 (USD Million)
Table 40 North America: Ultrasound Market Size, By Device Display, 2014–2021 (USD Million)
Table 41 North America: Ultrasound Market Size, By Device Portability, 2014–2021 (USD Million)
Table 42 North America: Ultrasound Market Size, By Application, 2014–2021 (USD Million)
Table 43 North America: Ultrasound Market Size, By End User, 2014–2021 (USD Million)
Table 44 U.S.: Ultrasound Market Size, By Device Display, 2014–2021 (USD Million)
Table 45 Canada: Ultrasound Market Size, By Device Display, 2014–2021 (USD Million)
Table 46 Europe: Ultrasound Market Size, By Country, 2014–2021 (USD Million)
Table 47 Europe: Ultrasound Market Size, By Technology, 2014–2021 (USD Million)
Table 48 Europe: Ultrasound Market Size, By Device Display, 2014–2021 (USD Million)
Table 49 Europe: Ultrasound Market Size, By Device Portability, 2014–2021 (USD Million)
Table 50 Europe: Ultrasound Market Size, By Application, 2014–2021 (USD Million)
Table 51 Europe: Ultrasound Market Size, By End User, 2014–2021 (USD Million)
Table 52 Germany: Ultrasound Market Size, By Device Display, 2014–2021 (USD Million)
Table 53 U.K.: Ultrasound Market Size, By Device Display, 2014–2021 (USD Million)
Table 54 France: Ultrasound Market Size, By Device Display, 2014–2021 (USD Million)
Table 55 Rest of Europe: Ultrasound Market Size, By Device Display, 2014–2021 (USD Million)
Table 56 Asia-Pacific: Ultrasound Market Size, By Country, 2014–2021 (USD Million)
Table 57 Asia-Pacific: Ultrasound Market Size, By Technology, 2014–2021 (USD Million)
Table 58 Asia-Pacific: Ultrasound Market Size, By Device Display, 2014–2021 (USD Million)
Table 59 Asia-Pacific: Ultrasound Market Size, By Device Portability, 2014–2021 (USD Million)
Table 60 Asia-Pacific: Ultrasound Market Size, By Application, 2014–2021 (USD Million)
Table 61 Asia-Pacific: Ultrasound Market Size, By End User, 2014–2021 (USD Million)
Table 62 Japan: Ultrasound Market Size, By Device Display, 2014–2021 (USD Million)
Table 63 China: Ultrasound Market Size, By Device Display, 2014–2021 (USD Million)
Table 64 India: Ultrasound Market Size, By Device Display, 2014–2021 (USD Million)
Table 65 Rest of Asia-Pacific: Ultrasound Market Size, By Device Display, 2014–2021 (USD Million)
Table 66 RoW: Ultrasound Market Size, By Technology, 2014–2021 (USD Million)
Table 67 RoW: Ultrasound Market Size, By Device Display, 2014–2021 (USD Million)
Table 68 RoW: Ultrasound Market Size, By Device Portability, 2014–2021 (USD Million)
Table 69 RoW: Ultrasound Market Size, By Application, 2014–2021 (USD Million)
Table 70 RoW: Ultrasound Market Size, By End User, 2014–2021 (USD Million)
Table 71 Product Launches, Approvals, and Enhancements (2013–2016)
Table 72 Agreements, Partnerships, and Collaborations (2013–2016)
Table 73 Geographical Expansions (2013–2016)
Table 74 Mergers & Acquisitions (2013–2016)
Table 75 Other Developments (2013–2016)


List of Figures (61 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 (2014)
Figure 9 Healthcare Spending Matrix, By Country (2015)
Figure 10 Bottom-Up Approach
Figure 11 Top-Down Approach
Figure 12 Data Triangulation
Figure 13 Assumptions of the Research Study
Figure 14 Ultrasound Market Size, By Technology, 2016 vs 2021 (USD Million)
Figure 15 Ultrasound Market Size, By Device Display, 2016 vs 2021 (USD Million)
Figure 16 Ultrasound Market Size, By Device Portability, 2016 vs 2021 (USD Million)
Figure 17 Ultrasound Market Size, By Application, 2016 vs 2021 (USD Million)
Figure 18 Ultrasound Market Size, By End User, 2016 vs 2021 (USD Million)
Figure 19 Geographical Snapshot of the Ultrasound Market
Figure 20 Rising Patient Population for Chronic & Lifestyle-Related Disorders to Drive Market Growth
Figure 21 2D, 3D/4D, and Doppler Ultrasound Segments Account for A Combined Share of ~70% of the Ultrasound Market in 2016
Figure 22 Radiology/General Imaging to Dominate the Ultrasound Applications Market in All Regional Segments
Figure 23 Hospitals and Diagnostic & Surgical Centers to Dominate the Ultrasound Market Across All Regions in 2016
Figure 24 China and India to Be the Fastest-Growing Segments of the Ultrasound Market During the Forecast Period
Figure 25 Evolution of Ultrasound Technology (As of December 2016)
Figure 26 Technological Advancements to Drive the Demand for Ultrasound Products During the Forecast Period
Figure 27 Growing Cancer Patient Population Across Key Geographies (2008–2020)
Figure 28 Annual Healthcare Expenditure (%GDP): Developed vs Developing Countries (2010–2015)
Figure 29 Value Chain Analysis (2016): Major Value is Added During Manufacturing Phase
Figure 30 Ultrasound Market: Supply Chain (2016)
Figure 31 Porter’s Five Forces Analysis (2016): Presence of A Large Number of Manufacturers Replicating Into Greater Market Competition
Figure 32 Diagnostic Ultrasound to Dominate the Global Ultrasound Technology Market During the Forecast Period
Figure 33 2D Ultrasound to Dominate the Global Diagnostic Ultrasound Technology Market From 2016 to 2021
Figure 34 HIFU to Dominate the Therapeutic Ultrasound Technology Market During the Forecast Period
Figure 35 Color Devices to Dominate the Ultrasound Market During the Forecast Period
Figure 36 Trolley/Cart-Based Ultrasound Devices to Dominate the Ultrasound Market During the Forecast Period
Figure 37 North America to Dominate the POC Ultrasound Devices Market During the Forecast Period
Figure 38 Radiology/General Imaging Applications to Dominate the Ultrasound Market During the Forecast Period
Figure 39 Europe to Dominate the Ultrasound Market for Cardiology Applications
Figure 40 Europe to Dominate the Ultrasound Market for Urology Applications During the Forecast Period
Figure 41 Hospitals and Diagnostic & Surgical Centers to Dominate the Ultrasound End Users Market During the Forecast Period
Figure 42 North America to Lead the Market for Ambulatory Care Centers During the Forecast Period
Figure 43 North America: Market Snapshot (2016-2021)
Figure 44 Europe: Market Snapshot (2016-2021)
Figure 45 Asia-Pacific: Market Snapshot (2016-2021)
Figure 46 Rest of the World: Market Snapshot (2016-2021)
Figure 47 Key Developments in the Market, 2013–2016
Figure 48 Global Market Share, Key Player (2015)
Figure 49 Inorganic Strategies to Assist the Growth of Leading Ultrasound Manufacturers
Figure 50 Strategic Benchmarking of the Top 5 Market Players (2015)
Figure 51 Geographic Revenue Mix of the Top Five Players (2015)
Figure 52 General Electric Company: Company Snapshot (2015)
Figure 53 Koninklijke Philips N.V.: Company Snapshot (2015)
Figure 54 Toshiba Corporation: Company Snapshot (2015)
Figure 55 Siemens AG: Company Snapshot (2016)
Figure 56 Hitachi Ltd.: Company Snapshot (2015)
Figure 57 Fujifilm Holdings Corporation: Company Snapshot (2016)
Figure 58 Samsung Electronics Co. Ltd.: Company Snapshot (2015)
Figure 59 Mindray Medical International Ltd.: Company Snapshot (2014)
Figure 60 Analogic Corporation: Company Snapshot (2015)
Figure 61 Shimadzu Corporation: Company Snapshot (2015)

The global ultrasound market is expected to reach USD 6.86 Billion by 2021 at a CAGR of 5.2% during 2016 to 2021. A number of factors such as rising patient population base for chronic and lifestyle-related disorders, technological advancements, and growing market demand for minimally invasive diagnostic and therapeutic techniques are driving the growth of the market.

Based on technology, the market is segmented into diagnostics and therapeutics ultrasound. Diagnostic ultrasound accounted for the largest share of the market in 2016 owing to factors such as the large-scale use of 2D ultrasound in disease diagnosis, the availability of significant medical reimbursements, and the ongoing technological advancements in the field of 3D/4D ultrasound.

On the basis of device portability, ultrasound products are categorized into trolley/cart-based and compact/handheld ultrasound devices. The compact/handheld ultrasound devices segment is expected to grow at the highest CAGR during the forecast period of 2016-2021 owing to ease of operability and expansion in application horizons (such as radiology imaging, emergency medicine, and wound healing).

On the basis of application, the market is classified into radiology/general imaging, obstetrics/gynecology, cardiology, urology, vascular, and other applications (including neurology, mammography, emergency medical imaging, hepatic imaging and renal imaging, and point-of-care). In 2016, the radiology/general imaging application segment commanded the largest share of the market. The large share of this segment is primarily attributed to the rising incidence of various cancers, growing market availability, and physicians’ preference for HIFU in cancer treatment.

Based on end user, the market is segmented into hospitals and diagnostic & surgical centers; maternity and fertility centers; ambulatory care centers; academic and research centers; and other end users. The hospitals and diagnostic & surgical centers segment accounted for the largest share of the market in 2016. The large share of this segment is attributed to the rising number of diagnostic imaging procedures performed in hospitals, growing inclination of hospitals and surgical centers towards the automation & digitization of radiology patient workflow, and increasing adoption of minimally invasive procedures (such as ultrasound) in hospitals by healthcare professionals.

On the basis of geography, this market is classified into four regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific market is expected to grow at the highest CAGR from 2016 to 2021. This is primarily due to increasing public awareness related to procedural benefits of ultrasound, continuously declining product prices, and continuously rising healthcare expenditure in the Asia-Pacific region.

Ultrasound Market

As of 2015, the global market is dominated by 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), Shimadzu Corporation (Japan), and Analogic Corporation (U.S.).

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