Increase in the prevalence of chronic diseases related to cardiovascular, neurological, diabetes, and cancer, the wide range of ultrasound device applications, technological advancements such as 3D and 4D, and rise in demand for minimally invasive or non-invasive diagnostic procedures are anticipated to fuel the ultrasound devices market. Moreover, a rise in public-private partnership investments, increase in a geriatric population affected by various diseases, and growing awareness of early disease diagnosis among healthcare professionals and patients are expected to boost the ultrasound devices market over the forecast period.
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Based on device type, ultrasound devices market is segmented into the following:
• Therapeutics ultrasound devices
• Extracorporeal shockwave lithotripsy
• High-intensity focused ultrasound
• Diagnostics ultrasound devices
• 2D, 3D, and 4D technology
• Doppler technology
Based on technology, ultrasound devices market is segmented into the following
• Portable ultrasound devices
• bedside devices
• Trolley/cart based devices
• Handheld devices
• Standalone ultrasound devices
Based on application, ultrasound devices market is segmented into the following:
• Traditional areas
• Radiology
• Gynaecology
• Cardiology
• Urology
• Others
• Emerging areas
• Emergency medicine
• Anaesthesiology
• Musculoskeletal
• Others
Based on end user, ultrasound devices market is segmented into the following
• Hospitals
• Clinics
• Diagnostic Centres
• Ambulatory surgical centers
• Others
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Ultrasound devises market is growing at a significant CAGR owing to the development of technologically advanced devices with 3D & 4D technology and rise in prevalence of chronic diseases such as cancer. Most of the companies are focusing on acquisitions and mergers for the diversification of business segment. For instance, in August 2014, Cura Healthcare entered into the ultrasound devices business by the acquisition of DE Healthcare. The wide ranges of applications for the ultrasound devices are also boosting the revenue growth of ultrasound devices market. Product approvals and launching of new products help in strengthening product portfolio. For instance, in May 2016, Signostics received FDA approval for ultrasound device Uscan used in the urological care.
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Some of the players in ultrasound devices market are Esaote SpA (Italy), Hitachi, Ltd. (Japan), Mindray Medical International Ltd (China), Koninklijke Philips N.V. (Netherlands), Fujifilm Holdings Corporation (Japan), Analogic Corporation (U.S), Siemens Ltd. (Germany), Toshiba Corporation (Japan), InSightec Ltd. (Israel), Cura Healthcare (India), and General Electric Corporation (U.S.) to name a few.
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