Global Ultrasound Market to Reach USD 6.86 Billion by 2021

However, the dearth of skilled and well-trained sonographers, and stringent government regulations are acting as the key constraints to the growth of the ultrasound market. Nevertheless, the expanding applications of ultrasound and the emerging markets will create significant opportunities for market growth. On the other hand, the growing end-user preference for refurbished equipment poses a challenge to the growth of the ultrasound market.

Geographically, North America and Europe dominated the global ultrasound market with the largest share in 2016. However, Asia-Pacific is expected to be the world’s fastest growing ultrasound market during the forecast period, driven by the rising incidence of chronic and infectious diseases, growing awareness of advanced diagnostic and therapeutic ultrasound, and continuously increasing healthcare expenditure in the region.

A large number of global and local manufacturers make the ultrasound market fairly competitive. During 2013-2016, a majority of the market players adopted the strategies of product launches, approvals, & product enhancements; agreements, partnerships, & collaborations; and geographic expansions to drive growth in the ultrasound market.

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