According to the Global Portable Ultrasound Market Research Report, the market is projected to reach USD 4.84 billion by 2021
Hyderabad, India -- (SBWIRE) -- 01/22/2018 -- The report "Portable Ultrasound Devices Market by Device Type (Mobile Ultrasound Device and Hand-held Ultrasound Device) by Application (Cardiovascular Portable Ultrasound Device, Obstetrics and Gynaecology Portable Ultrasound Device, Gastric Portable Ultrasound Device and Musculoskeletal Portable Ultrasound Device), by End Users (Hospitals and Diagnostics Center)- Forecast to 2021", The Portable Ultrasound Devices market is expected to reach USD 4.84 Billion by 2021 from an estimated USD 3.39 Billion in 2016, at a CAGR of 7.4%. The key factors such as growth in awareness about portable devices, rising demand for minimally invasive procedures, increasing number of accidents and positive support from governmental policies coupled with growing private investments are the major drivers for market growth.
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By type, the mobile devices segment accounted for the largest share of the market in 2016
On the basis of type, the Portable Ultrasound Devices market has been segmented into mobile and hand held devices. In 2016, the mobile segment is expected to account for the largest share of the global Portable Ultrasound Devices market. Its market share is the highest among all the various applications. This can be attributed to their longer presence in the market and hence deeper market penetration.
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By application, the obstetrics and gynaecology segment accounted for the major market share in 2016.
By application, the Portable Ultrasound Devices market has been segmented into Cardiovascular Portable Ultrasound Device, Obstetrics and Gynaecology Portable Ultrasound Device, Gastric Portable Ultrasound Device and Musculoskeletal Portable Ultrasound Device. The gynaecology segment accounts for the major market share whereas the cardiology segment is the fastest growing segment of the market.
By End Users, the Portable Ultrasound Devices market is segmented into hospitals and diagnostic centres. Hospitals own the largest share of the market with diagnostic centres growing at the higher CAGR.
Europe dominated the market in 2016
Europe accounted for the largest share of the Portable Ultrasound Devices market in 2016, followed by North America. The large share of the European Portable Ultrasound Devices market can be attributed to the growth in technology and Portable Ultrasound Devices research grants and funds in the US combined with the presence of higher awareness among the populace about Portable Ultrasound Devices and also the growing geriatric population.
The various players in the Portable Ultrasound Devices market include Fujifilm Holdings Corporation (Japan), Analogic Corporation (U.S.), Esaote S.p.A. (Italy), Koninklijke Philips N.V. (Netherlands), Toshiba Corporation (Japan), Siemens AG (Germany), General Electric Company (U.S.), Samsung Electronics Co., Ltd. (South Korea), Hitachi Ltd. (Japan) and Mindray Medical International Ltd. (China)
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