Ultrasound Market to Exceed $8 Billion by 2017
By John Wallace
The global ultrasound market was valued at $4.6 billion in 2012 and was forecast to grow at a compound annual growth rate of 7 percent, according to GBI Research. The United States was the largest market for ultrasound systems in 2012 – valued at $1.5 billion, according to the GBI report.
“The U.S. market accounted for 33 percent of global revenue in 2011, is highly penetrated and is primarily a replacement market for ultrasound systems,” according to a summary of the GBI report. “An increasing number of applications, and the adoption of fusion technologies such as Magnetic Resonance Imaging (MRI) guided High Intensity Focused Ultrasound (HIFU), are also expected to be major drivers for future growth.”
A report from MarketsAndMarkets.com predicts the global ultrasound market will exceed $8 billion by 2017 thanks to a 6.2 percent compound annual growth rate.
The report indicates that cart-based system will continue to drive the growth of the ultrasound market.
To read the full article visit the September 2014 edition of Medical Dealer Magazine