According to a new market study released by Technavio, the global ultrasound equipment market is expected to grow at a CAGR of nearly 6% from 2016 to 2020. In the report, titled Global Ultrasound Equipment Market 2016-2020, Technavio credited the growth of the global ultrasound equipment market to the adoption of advanced technological innovations.
What’s more, extensive research in therapeutic ultrasound has led to the use of ultrasound systems in new applications areas, according to Technavio. Also, the report noted how techniques such as extracorporeal shockwave lithotripsy are being used for minimally invasive urinary tract stones propulsion and high-intensity focused ultrasound is being utilized for prostate cancer ablation.
Further, the focus on introducing portable and compact ultrasound equipment has increased due to the growing end-user preference toward technologically advanced, easy-to-use, and lightweight ultrasound equipment, Technavio found.
Additionally, the launch of point-of-care ultrasound devices has made them a standard not only in hospital emergency departments,, but also in home care for patient monitoring. With such crucial application areas, this segment is set to grow in the market forecast period.
Based on application, the Technavio report categorizes ultrasound equipment into the following segments:
- Obstetrics and gynecology
Finally, Technavio reported how advances in ultrasound technology have improved imaging techniques and made the diagnosis for cardiovascular diseases more accurate. Still, the high prevalence of chronic diseases necessitates wider diagnosis and prevention methods using ultrasound equipment, which will drive the global ultrasound equipment market, the report concluded.