New York, NY -- (SBWIRE) -- 01/25/2021 -- Growth in chronic diseases, increasing investments by governments, and advancements in technology are driving the market for Ultrasound.

Market Size – USD 6.34 Billion in 2018, Market Growth - CAGR of 5.6%, Market Trends – Increasing prevalence of cancer.

Ultrasound scan rely on high-frequency sound waves to obtain images of inner side of a body. It is safe and suitable during pregnancy as it uses sound waves and echoes to obtain the image and does not involve radiation. Applications of ultrasound are expanding beyond examination of pregnancy owing to its effectiveness and relatively low cost associated with it. This adoption is estimated to drive the growth of the global ultrasound market.

The global Ultrasound Market is forecasted to reach USD 10.44 Billion by 2027, according to a new report by Reports and Data. Increase in the prevalence of chronic disease across the globe, coupled with rising population, has increased the demand for ultrasound market. The growing geriatric population is prone to diseases and fractures that affect the growth of the market positively.

Some of the players profiled in the report are Siemens AG, Esaote, Analogic Corporation, FUJIFILM Holdings Corporation, Samsung Electronics, General Electric Company, Carestream Health, Hologic, Canon Medical Systems Corporation, and Mobisante, Inc., among others.

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Markey Drivers

Technological advancements, such as concepts like Artificial Intelligence (AI), are enhancing quality of images coupled with automation to reduce time taken for tasks are driving growth of the global ultrasound market. In addition, implication of AI in ultrasound improves its navigation, which provide real-time support and in turn propelling growth of the global ultrasound market.

Additionally, investments by key players to enhance their product and to make it more cost-effective would offer several opportunities for growth during the forecast period.

Further key findings from the report suggest

- An increase in the birth rate in countries such as Russia and Germany will boost market demand in the coming years. Diagnostic ultrasound has the ability to detect anomalies in babies inside the womb.
- Doppler ultrasound uses high-frequency sound waves to measure the amount of blood flow in patient's arteries and veins. It has a hand-held scanner connected to a computer. The procedure is non-invasive, painless, does not use radiation, and there are no risks known as of yet.
- Mobile devices are being rapidly adopted in the developing nations owing to the rising demand for ambulatory care. The demand for handheld ultrasound devices are high in the developed region, such as the U.S.; there is a rising demand for mobile ultrasound devices. The growing trend of ambulatory care is driving the demand for this device.
- Rising incidence of obesity, unhealthy food consumption, and stressed lifestyle increase the odds of a cardiac related issues. Increase in investment in healthcare and support via healthcare insurance from government are encouraging people to go for checkups and lead a healthy lifestyle.
- Hospitals dominated the market for ultrasound. Rise in minimally invasive surgical and diagnostic procedures and growing number of hospitals are propelling the segment demand. Large number of ultrasound procedures are done in the hospitals only.
- High growth of the market in North America is attributed to the growing prevalence of chronic ailments along with rising awareness among people related to early disease diagnosis. The availability of advanced technologies and healthcare facilities will surge the demand for the market product in the coming years.

For the purpose of this report, Reports and Data have segmented into the global Ultrasound Market on the basis of technology, type, applications, end-users, and region:

Technology Outlook (Revenue, USD Billion; 2016-2027)
- Therapeutic Ultrasound
- Diagnostic Ultrasound

Type Outlook (Revenue, USD Billion; 2016-2027)
- Stationary Ultrasound
- Portable Ultrasound

Applications Outlook (Revenue, USD Billion; 2016-2027)
- Cardiology Applications
- Vascular Applications
- Radiology/General Imaging Applications
- Urological Applications
- Pain Management Applications
- Orthopedic and Musculoskeletal Applications

End-Users Outlook (Revenue, USD Billion; 2016-2027)
- Ambulatory Care Centers
- Maternity Centers
- Hospitals and Diagnostic Centers
- Research and Academia
- Others

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Regional Outlook

Regionally, the Asia Pacific is expected to be dominant in the ultrasound market during the forecast period. This growth is attributable to increased funding by both government and the key players. The regional market is projected to exhibit robust growth in revenue as the awareness among patients regarding therapeutics and tests has increased substantially in the past few decades.

Market Segmentation by Regions:

North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Point Summary of the Report:

The global Ultrasound market research report is an investigative study offering key insights into the latest growth trends, developments, technological and product advancements, and the research and development scenario. The report also covers the market aspects that directly influence the growth of the market. These features include strategies undertaken by the prominent players, their expansion tactics, and the product portfolios of the companies, and micro and macro-economic factors.

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Key Coverage of the Ultrasound Market:

- Insightful information regarding the global Ultrasound market
- Identification of growth in various segments and sub-segments of the Ultrasound market
- Strategic recommendations for investment opportunities
- The report covers significant statistics related to the industry along with products, applications, price analysis, demand & supply, and production and consumptions rate
- Emerging trends and current market segment analysis to help investors formulate new business strategies
- Accelerates the decision-making process through the availability of the drivers and limitations

Global Ultrasound Market: Table of Contents

Chapter 1. Market Synopsis

    1.1. Market Definition

    1.2. Research Scope & Premise

    1.3. Methodology

    1.4. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2018-2026

Chapter 3. Indicative Metrics

Chapter 4. Ultrasound Market Segmentation & Impact Analysis

Continued……….
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