Asia Pacific Ultrasound Devices is estimated to reach USD 2.02 Billion by 2021
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The Asia Pacific Ultrasound Devices Market has been estimated at USD 1.38 Billion in 2016 and is projected to reach USD 2.02 Billion by 2021, at a CAGR of 7.92% during the forecast period from 2016 to 2021. Ultrasonic devices are used to detect objects and measure distances.
Ultrasound imaging or sonography is often used in medicine. In the nondestructive testing of products and structures, ultrasound is used to detect invisible flaws.
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Government and private funding for R&D in ultrasound imaging, aging population, increasing number of healthcare providers, curtailment in the size of ultrasound devices, and higher incidences of chronic diseases are some of the factors that are propelling the growth of the market. However, lack of skilled labor to handle the equipment and stringent FDA regulations are turning out to be restraints for this market in Asia Pacific region.
Asia Pacific market for Ultrasound devices is segmented based on Technology, Device Display, Portability, and Application. By Technology, the market is segmented as Diagnostic Ultrasound (2D Ultrasound, 3D & 4D Ultrasound, Doppler Ultrasound) and Therapeutic Ultrasound (High-intensity Focused Ultrasound, Extracorporeal Shockwave Lithotripsy).
By Device Display, the market is segmented as Color Ultrasound Devices and Black and White Ultrasound Devices. By Portability, the market is segmented as Trolley/Cart-based Ultrasound Devices and Compact/Handheld Ultrasound Devices.
By Application, the market is segmented as Radiology/General Imaging, Cardiology, Obstetrics/Gynecology, Vascular, Urology and Other Applications (Includes Breast Imaging, Hepatology, Anesthesiology, and Emergency Care). The trolley/cart-based ultrasound devices segment is expected to account for the largest share of the Asia Pacific ultrasound market in 2015; whereas, the compact/handheld ultrasound devices segment is expected to grow at the highest CAGR during the forecast period.
Cardiology application is expected to be the fastest growing segment during forecast period owing to rising incidence of cardiac diseases across the globe.
Geographically, Asia Pacific market for Ultrasound devices is segmented into China, Japan, India, South Korea and Australia. Increasing number of age-related illnesses, growing public awareness about therapeutic benefits offered by ultrasound, and increasing focus of international device manufacturers on strengthening their distribution networks in APAC, are the factors that are noticed in this region which is attracting the companies to enter into this market.
General Electric Company (U.S.), Koninklijke Philips N.V. (Netherlands), Toshiba Corporation (Japan), Siemens AG (Germany), Hitachi Ltd. (Japan), Samsung Electronics Co., Ltd. (South Korea), FUJIFILM Holdings Corporation (Japan), Esaote S.p.A. (Italy), Mindray Medical International Ltd. (China), and Analogic Corporation (U.S.) are some of the key players in the Asia Pacific ultrasound market.
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