According to a market report from Kalorama Information, an industry intelligence provider, the world market for ultrasound systems will continue to grow until the year 2018, driven by technological advances, affordability, and portability.
The report, “Ultrasound: World Market Analysis,” was based on an analysis of current market conditions and future innovation trends. As described in the report, the global market for ultrasound devices was estimated to be valued at USD $6.5 billion in 2012. By 2017, the value is predicted to increase to USD $8.6 billion. North America is listed in the report as second only to Europe as the estimated largest market for diagnostic ultrasound, followed by the Asia-Pacific region.
The key factors identified as fueling the growth of the diagnostic ultrasound device market include accelerated growth in the aging population that has a high risk of target diseases, as well as the increasing demand for minimally invasive treatments or procedures. The report also attributes the market growth to the evolution of technologically advanced ultrasound devices, miniaturization of ultrasound devices, and increasing public-private investments.
The report, which describes traditional ultrasound equipment as large, expensive, and impractical for many clinical settings, explains that the introduction of smaller, more affordable, and portable or handheld ultrasound systems is helping to drive the growth of the market by creating new applications that larger ultrasound systems cannot address.
New, compact mobile ultrasound systems capable of 3-D imaging aid in accurate and rapid diagnoses in emergency settings as well as in complex surgical applications and interventional procedures. With the advancements and availability of portable diagnostic ultrasound systems, the use of “bedside ultrasonography” is expected to increase. Further, ultrasound imaging has become a popular alternative to other types of medical imaging that either pose a risk for exposure to ionizing radiation (x-ray and CT) or are cost prohibitive (MRI).
For a summary of the market report from Kalorama, visit the ReportLinker website.