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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 Malik Hooker Camo Jersey , portability, and regions. Products are split into diagnostic ultrasound devices and therapeutic ultrasound devices. Diagnostic ultrasound devices are further segmented into 2D devices and 3D4D 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 carttrolley 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.
Regional segmentation encompasses Europe Darius Leonard Camo Jersey , North America, Asia Pacific, MEA (Middle East & Africa) and Latin America. North America was the leading region (26% revenue share) in 2014. Key regional drivers include a well-established healthcare system, and rising preference for remote healthcare. Advanced technology in this region is also creating demand for miniature user-friendly devices.