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Market Analysis: Ultrasound market expected to exceed $7 billion by 2019

Ultrasounds have been used to treat humans for at least 50 years, but the ultrasound of today is much more advanced than when it was first used. The technology is generally less expensive than some other medical imaging techniques and can be

Wed Jan 01 2014By Medical Dealer Magazine

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Diagnostic ultrasound, also called sonography or diagnostic medical sonography, is an imaging method that uses highfrequency sound waves to produce relatively precise images of structures within your body, according to the Mayo Clinic. The images produced during an ultrasound examination often provide information for diagnosing and treating a variety of diseases and conditions.

Most ultrasound examinations are done using a sonar device outside a human being’s body, though some ultrasound examinations involve placing a device within the body.

Ultrasounds have been used to treat humans for at least 50 years, but the ultrasound of today is much more advanced than when it was first used. The technology is generally less expensive than some other medical imaging techniques and can be portable.

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.”

As with most medical technologies, ultrasound is evolving. It is also being used more often in the United States as an aging population has begun to need more medical care.

Read full article on MedicalDealer's Januray 2014 issue

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