Diagnostic Ultrasound Market Expected to Reach $4.9 Billion
An increase in the uses of ultrasound systems and new technologies equate to growth in the U.S. and global markets. A report from GlobalData estimates that the global ultrasound market will be worth $4.9 billion in 2019.
Thu Jan 01 2015
Diagnostic Ultrasound Market Expected to Reach $4.9 Billion
An increase in the uses of ultrasound systems and new technologies equate to growth in the U.S. and global markets. A report from GlobalData estimates that the global ultrasound market will be worth $4.9 billion in 2019. Research and Markets also predicts growth in the diagnostic ultrasound market.
“The global ultrasound market is estimated to grow at a CAGR of 5.1 percent from 2014 to 2019. Although mature markets such as the U.S., Germany, and the U.K. held larger shares in the ultrasound market in 2014, Asia-Pacific is poised to grow at the highest CAGR of 5.5 percent in the next five years,” according to a news release from Research and Markets. “Factors such as the rapidly increasing aging population, growing focus of multinational companies on emerging markets, improvements and modernization of healthcare infrastructure, government initiatives to have advanced imaging systems at public healthcare facilities, and high incidences of cancer cases in this region are propelling the growth of this market.”
Additional reasons for growth, according to the news release from Research and Markets, include technological advancements and a increased demand for less invasive surgical procedures.
“Market growth is driven by factors such as development of technologically advanced systems; rapid growth in aging population with high risk of target diseases; rising incidences of cardiovascular diseases and cancer cases; growing demand for minimally invasive treatment procedures; and increasing public-private investments,” according to Research and Markets.
The growth potential could be limited by healthcare reform measures in the U.S. while other factors could spur growth in other regions.
“However, factors such as technological limitations of ultrasound, dearth of skilled and experienced sonographers, and unfavorable healthcare reforms in the U.S. are restraining the growth of this market,” according to the news release. “Moreover, emerging markets (such as China, India, Brazil, and Mexico); miniaturization of ultrasound devices and growing number of hospitals and surgical centers are creating opportunities for market growth.”
The cardiology segment of the market is expected to experience the most growth over the next half decade.
The entire article can be found in the January 2015 issue of Medical Dealer Magazine.