Doppler Ultrasound Market Overview
Mounting incidences of cardiovascular diseases (CVDs). Thus, the growing number of cardiovascular diseases increases the use of doppler ultrasound for early detection of the disease. For example, in 2016, as per a survey, it was reported that cardiovascular disease is the leading global cause of death, accounting for more than 17.6 million deaths per year, it is expected to grow, more than 23.6 million by 2030.
Global Doppler ultrasound market is growing pervasively, mainly due to the rapidly increasing cancer cases worldwide. The improving economy is proving to be a significant growth driver for the market, increasing the purchasing power and per capita healthcare expenses. Moreover, dominant risk factors responsible for the development of cancer cells and tumors are escalating the market growth to furthered height by creating a massive demand for diagnostics.
Undoubtedly, technological advancements in medical science have improved the outlook for cancer diagnostics. According to Market Research Future (MRFR), the global Doppler Ultrasound Market is expected to create a valuation of USD 2,800 MN by 2027, growing continually 7.95 % CAGR during the forecast period (2020-2027). Also, mounting incidences of cardiovascular diseases (CVDs) are increasing the use of Doppler ultrasound for early detection of the disease.
Additionally, the rising mergers & acquisitions by prominent players in the market are increasing the size of the market, allowing the companies to enter the new market with innovative technologies. Also, pregnancies that take place at a later age, alongside the increasing awareness about improved gynecological care for pregnant women, drive a huge share of the Doppler ultrasound market. Moreover, increasing per capita healthcare expenditures and population substantiates market growth. Furthermore, the rising awareness among people about the benefits of early diagnosis that can help in starting the treatments at an earlier stage contributes to the growth of the market. On the other hand, stringent government regulations pertaining to the regulatory approvals are expected to restrict market growth during the anticipated period. Nevertheless, the growing adoption rate of the Doppler ultrasound process for early diagnosis in the rising numbers of diagnostic centers & hospitals would support the market growth throughout the review period.
Regional Analysis
North America dominates the global Doppler Ultrasound market. The largest market share attributes to the emergence of technologically advanced ultrasound devices, and the presence of top players such as GE Healthcare, Analogic Corporation, Philips Healthcare resides in the region. Besides, factors such as the increasing prevalence of breast cancer and prostate cancer fuel the growth of the regional market. The market growth is hugely supported by the US and Canada markets.
Additionally, technological advances, coupled with the increasing healthcare expenditure, support the regional market growth. The North American market is estimated to create a substantial revenue pocket during the assessment period.
Europe stands second in the market, heading with the increased use of ultrasound in the clinical applications. Also, the ongoing clinical research projects in the field of ultrasound are projected to boost the growth of the regional market. The European Doppler ultrasound market is expected to grow at modest CAGR during the review period.
The Asia Pacific region is promising substantial growth opportunities for the market owing to the increasing number of cancer patients in the region. Besides, rising government support to drive R&D activities required to advance Doppler ultrasound equipment drives the regional market growth. Also, growing per capita, healthcare expenses foster the growth of the regional market. The APAC Doppler ultrasound is predicted to register a significant growth rate during the anticipated period.
Segmentation
The analysis has been segmented into four main dynamics to widen the scope of understanding,
By Product : Trolley Based and Handheld.
By Application : Radiology, Obstetrician-Gynecologist, Cardiology, and others.
By End-User : Hospitals & Clinics, Diagnostic Centers, Ambulatory Settings, and others.
By Regions : Americas, Europe, Asia-Pacific, Middle East & Africa, and Rest-of-the-World.
Competitive Landscape:
The global market for doppler ultrasound market Players is slated to register better growth. Several companies are taking part in devising strategies to impress better market growth in the coming years. These companies are Canon Medical Systems (Japan), General Electric Company (US), Koninklijke Philips NV (Netherlands), Siemens Healthcare Private Limited (Germany), Toshiba Corporation (Japan), Analogic Corporation (US), Fujifilm Holdings Corporation (Japan), Samsung Electronics Co., Ltd (South Korea), Hitachi Ltd. (Japan), Esaote SPA (Italy), and Shenzhen Mindray Bio-Medical Electronics Co., Ltd (China).
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