Europe Dominates Global Ultrasound Medical Devices Market, States IQ4I in Its Discounted Report Published at MarketPublishers.com21 Dec 2016 • by Natalie Aster
LONDON – Over a period of years, the efficacy, speed, cost efficiency and noninvasiveness of diagnostic capabilities of ultrasound imaging have expanded its use across all clinical applications, from gynecology and obstetrics, orthopedics and cardiology to emergency care, breast cancer detection, among others.
The global ultrasound medical devices market is poised to grow at a mid single-digit CAGR to amount to USD 10,106 million by 2023.
By technology, diagnostic ultrasound took the lead in the market by capturing the lion’s share; whilst the therapeutic ultrasound segment is set to post the highest growth rate to 2023. With respect to displays, colour ultrasound devices grab the biggest share as well as will likely register the fastest growth in the offing. In terms of applications, the radiology/general imaging segment captures the largest market share, while the cancer application segment is increasing at the most rapid pace. With respect to end users, hospitals take the lead and are poised to demonstrate the fastest growth at 6.2% CAGR to 2023.
Geography-wise, Europe dominates the market, with North America, Asia and RoW following after. Asia is the fastest growing region with a 6.5% CAGR for the next few years boasting a slew of opportunities for growth.
The key drivers of the market include booming population for chronic and lifestyle related disorders, increasing public-private investments, grants, and funds, and rising uptake of ultrasound imaging within the oncology, cardiology, and emergency medical care domains. Nevertheless, dearth of experienced sonographers, stiff regulations and laws, expensiveness of medical imaging are hindering the market’s growth.
New research report “Ultrasound Medical Devices Global Market - Forecast to 2023” created by IQ4I offers an up-close investigation of the global market for ultrasound medical devices.
The report examines the marketplace based on technology, portability, display, application, and end-use sector. It limelights the factors impacting the market development like drivers and opportunities, restraints and threats; contains Porter’s five forces analysis; covers the regulatory guidelines, reviews the reimbursement scenario; examines the supply chain; analyses the market shares; discusses patent trends; looks at the advanced ultrasound technologies, etc. An extensive regional analysis of the market is included, too. The report examines the competitive landscape and offers valuable information on the 10 dominant players. The report also presents an extensive outlook for the marketplace through to 2023.
More discounted research reports by IQ4I are available at its page.