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    Medical Ultrasound Equipment Market Report

    Medical Ultrasound Equipment Market Report
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    Medical Ultrasound Equipment Market Trends, Dynamics & Market Insights
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    Market Insights

    The Medical Ultrasound Equipment Market is projected to grow from USD 6.1 billion in 2020 to USD 8.1 billion by 2026 at a CAGR of around 7.4% during the forecast period.

    Figure: Medical Ultrasound Equipment Market Size, 2020-2026 (USD Billion)

    Medical-Ultrasound-Equipment-Market-Forecast

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    What is medical ultrasound?

    Medical ultrasound also called ultrasonography or diagnostic sonography may be a technique supported the appliance of ultrasound to visualise internal body structures like tendons, muscles, blood vessels, and others. Ultrasound devices are defined as imaging machines that use sound waves to come up with images of internal body structures to seek out the source of a specific disease or malfunction in several body parts.

    Key Players

    Key players operating in the Medical Ultrasound Equipment market are-

    • General Electric Company (US)
    • Koninklijke Philips N.V. (Netherlands)
    • Siemens AG (Germany)
    • Toshiba Corporation (Japan)
    • Hitachi Medical Corporation (Japan)
    • Mindray Medical International Limited (China)
    • Fujifilm SonoSite (US)
    • Esaote SpA (Italy)
    • Samsung Medison Co., Ltd. (South Korea)
    • Konica Minolta, Inc. (Japan)
    • SonoScape Medical Corp (China)
    • Edan Instruments Inc. (China)

    Market Dynamics

    The growth of the medical ultrasound equipment market is primarily driven by widespread use in applications including cardiology, radiology, and obstetrics & gynecology among others. The increasing prevalence of chronic diseases due to changing lifestyles and unhealthy eating habits are likely to drive the market growth at a significant rate during the review period. In addition to this, rising demand for advanced technologies in the healthcare industry is expected to create lucrative opportunities for the players operating in the global medical ultrasound equipment market in the coming years.

    Segments' Analysis

    End-Use Trends

    By end-use, the medical ultrasound equipment market has been bifurcated into hospital, clinic, and home care. The hospital segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period. The segment growth can be attributed to the presence of required infrastructure and skilled staff.

    Regional Trends

    By region, the North American market accounted for the largest market share in 2020 and is projected to grow at a robust CAGR during the review period. This can be attributed to rising healthcare expenditure and early adoption of advanced healthcare technologies in the healthcare industry coupled with the presence of key market players such as General Electric Company (US) and Fujifilm SonoSite (US). The market growth in Asia-Pacific is expected to be driven by the rising number of people suffering from chronic diseases coupled with increasing investment in R&D activities in healthcare.

    COVID-19 Impact on Medical Ultrasound Equipment Market

    The COVID-19 outbreak adversely affected the market growth of the Medical ultrasound equipment industry due to the shift of medical treatment for cancer and other diseases to rising coronavirus-affected patients. Patients suffering from cancer were asked to postpone their surgery due to a rapid surge in COVID-19 cases across the globe. 

    Critical Questions Answered in the Report

    • What are the key trends in the Medical Ultrasound Equipment market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of COVID-19 on the Medical Ultrasound Equipment market?
    • What are the key strategies adopted by the major vendors to lead in the Medical Ultrasound Equipment market?
    • What is the market share of the top vendors?

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    Target Audience

    Here is the list of the group of customers that the medical ultrasound equipment market hopes to have the greatest opportunity to convert-

    • Medical ultrasound equipment distributors
    • Medical ultrasound equipment suppliers
    • Medical ultrasound equipment manufacturers
    • Logistics organizations
    • Government bodies

    Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    The medical ultrasound equipment market is expected to witness an impressive growth of 7.4% CAGR in the coming years.

    General Electric Company (US), Koninklijke Philips N.V. (Netherlands), Siemens AG (Germany), Toshiba Corporation (Japan), Hitachi Medical Corporation (Japan), Mindray Medical International Limited (China), Fujifilm SonoSite (US), Esaote SpA (Italy), Samsung Medison Co., Ltd. (South Korea), Konica Minolta, Inc. (Japan), SonoScape Medical Corp (China) AND Edan Instruments Inc. (China) are among the key players in the medical ultrasound equipment market.

    Medical ultrasound equipment market size is expected to reach USD 8.1 billion in the foreseeable future.

    The hospital segment is expected to register significant growth in the medical ultrasound equipment market in the next five years.

    North America accounted for the largest share in the medical ultrasound equipment market in 2020.

    Medical ultrasound equipment distributors, Medical ultrasound equipment suppliers, Medical ultrasound equipment manufacturers, Logistics organizations, Government bodies are the target audience in the medical ultrasound equipment market.