Ultrasound Market Size, Share, Analysis, Trends and Forecast - 2021

Published: Mon Sep 24 2018

Increasing global prevalence of targeted diseases to drive the market demand for ultrasound devices to reach USD 6.86 billion by 2021

The global ultrasound market is segmented by technology, device display, device portability, application, end user, and region. Based on technology, the market is segmented into diagnostic ultrasound (comprising 2D, 3D & 4D, Doppler Ultrasound), and therapeutic ultrasound (comprising High-Intensity Focused Ultrasound [HIFU], and Extracorporeal Shockwave Lithotripsy [ESWL]). The therapeutic ultrasound technology segment is expected to witness the highest growth rate during the forecast period; owing to factors such as the growing number of cancer and cardiological diseases on a global level, growing HIFU-focused clinical trials, and growing preference for minimally invasive techniques over the conventional techniques.

The global market is projected to reach USD 6.86 billion by 2021 at a CAGR of 5.2% during forecast period. The major factors driving the growth of the market include ongoing technological advancements; rising prevalence of targeted diseases; growing patient preference for minimal invasive procedures; increased public-private investments, funding, and grants in the field of ultrasound; rising birth rate/fertility rate (especially among emerging countries). In addition, emerging markets (such as China and India) are poised to offer new growth opportunities for key market players during the next decade.


As of 2015, General Electric Company (U.S.) held the leadership position in the global market. Over the past three years, the company has adopted new product launches, product approvals, product enhancements; strategic acquisitions and agreements as its key business strategies to ensure its global 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.), among others.

Increasing R&D programs focused on the clinical evaluation of trolley-based/cart-based ultrasound in disease therapies to drive the global demand for Trolley/Cart-Based Ultrasound Devices

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Trolley-based ultrasound devices are most commonly used in hospitals and clinics. They are wheeled devices that can be moved over a short distance, mostly within a building or a floor. A conventional cart-based ultrasound system encompasses one or more transducer probes for different anatomies and applications (such as pediatric, abdominal, and transrectal applications).

In 2016, the trolley/cart-based ultrasound devices segment accounted for a share of 73.8% of the market. The growth in this segment is attributed to factors such as; growing number of partnerships and agreements among leading ultrasound manufacturers and regional distributors (aimed to expand their existing product distribution networks and market adoption of specific products); increasing R&D programs focused on the clinical evaluation of trolley-based/cart-based ultrasound in disease therapies; the expanding applications of these devices; and growing market acceptability and availability of refurbished cart-based ultrasound devices.

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