The global ultrasound devices market is poised for remarkable expansion in the forthcoming years, as per a recent report by Future Market Insights (FMI). Anticipated to reach an impressive valuation of USD 6.6 billion by 2032, the market is expected to exhibit a compound annual growth rate (CAGR) of 7% from 2022 to 2032.
The comprehensive report underscores a substantial surge in growth projections, surpassing previous estimations and underlining a robust and promising outlook for the industry. Factors such as technological advancements, increasing prevalence of chronic diseases, and expanding applications of ultrasound technology across various medical disciplines are cited as key drivers propelling this growth trajectory.
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“This revised forecast reflects a surge in demand for ultrasound devices across various healthcare applications,” says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.).
Key Drivers of Growth:
- Rising Prevalence of Chronic Diseases: Increasing rates of chronic diseases like cardiovascular disease, cancer, and chronic obstructive pulmonary disease (COPD) are driving the demand for diagnostic imaging tools, including ultrasound devices.
- Technological Advancements: Advancements in ultrasound technology, such as the development of more portable and cost-effective devices, are making these tools more accessible to a wider range of healthcare providers and patients.
- Growing Focus on Early Detection: The growing emphasis on early disease detection is increasing the utilization of ultrasound devices for various diagnostic procedures.
Future Outlook:
The ultrasound devices market is expected to continue its upward trajectory in the coming years, driven by the factors mentioned above. The report identifies several potential opportunities for growth, including:
- Expansion into emerging markets with a growing demand for healthcare services.
- Development of innovative applications for ultrasound technology, such as in therapeutic procedures.
- Increased adoption of point-of-care and portable ultrasound devices.
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Key Takeaways:
- The Ultrasound Devices market in the USA is projected to witness a CAGR of 7.5% from 2022 to 2032 and is estimated to reach a valuation of around USD 4 billion by 2032.
- The Ultrasound Devices market in China is projected to reach a valuation of USD 1.4 billion by 2032, growing at a CAGR of 7.1% from 2022 to 2032.
- The Ultrasound Devices market in The United Kingdom was valued at USD 281.4 million in 2021. The market in the country is expected to reach nearly USD 572.9 million by 2032.
- The Ultrasound Devices market in Japan is projected to reach a valuation of USD 577.6 million by 2032, growing at a CAGR of 8% from 2022 to 2032.
Competitive Analysis:
By Prominent Market Players:
Some of the key players operating in the ultrasound market are GE Healthcare, Koninklijke Philips N.V., Canon Medical Systems, Siemens AG and Samsung Medison.
With an extensive SWOT analysis, the FMI’s study presents the strengths, weaknesses, growth prospects and challenges of each player. The report also includes important data including the sales strategy, pricing strategy, and marketing strategy adopted by these players in the Ultrasound Devices market.
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Market Segments Covered in Ultrasound Devices Market Analysis:
By Product Type:
- Diagnostic Ultrasound Devices
- 2D
- 3D/4D
- Doppler
- Therapeutic Ultrasound Devices
- High-intensity Focused Ultrasound
- Extracorporeal Shockwave Lithotrips
By Portability:
- Handheld
- Cart/Trolley
By Application:
- Cardiology
- Obstetrics/Gynaecology
- Vascular
- Orthopaedics
- General Imaging
By End-User:
- Hospitals
- Imaging Centres
- Research centres
By Region
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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Website: https://www.futuremarketinsights.com
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