What Is the Current Scenario of the Ultrasound Device Market?
The global ultrasound device market is projected to advance at a considerable rate in the coming years, which is attributed to the surging geriatric population, rising healthcare cost, technological advancements in ultrasound devices, increasing prevalence of chronic and lifestyle associated diseases, and rising demand for minimally invasive diagnostic and therapeutic techniques. Ultrasound devices are utilized for therapeutic and diagnostic applications. In terms of display, the market is bifurcated into colored display and black and white display. The colored display is expected to account for the major share of the market in the near future.
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On the basis of application, the ultrasound device market is categorized into urology, radiology/general imaging, vascular, cardiology, obstetrics & gynecology, and others. Among these, the general imaging category held the largest share of the market in the past and is projected to dominate the market in the coming years as well. The cardiology category is expected to witness the fastest growth in the near future because of the increasing geriatric population and rising incidence of cardiac diseases.
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The surging prevalence of chronic and lifestyle associated diseases, such as heart disease, diabetes, cancer, respiratory disease, and stroke, is among the major driving factors of the ultrasound device market. In 2012, about 117 million people in the U.S. were suffering from either one or more chronic health conditions, according to the Center for Disease Control and Prevention. In addition to this, cardiovascular diseases are the leading cause of premature death across the world. Attributed to these factors, various developments have taken place in the field of cardiac ultrasound for effective diagnosis and treatment.Another primary driving factor of the ultrasound device market is the growing requirement for minimally invasive techniques. Body is cut minimally or a device is invaded during a minimally invasive procedure. The procedure is performed under the guidance of ultrasound for visualizing organs or tissues.
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