The Ultrasound devices market size in the Asia Pacific was estimated at USD 1.66 Billion in 2022. It is projected to reach USD 2.43 Billion by 2027, at a CAGR of 7.92% during the forecast period from 2022 to 2027.
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 identify invisible flaws. Ultrasound devices make images of internal parts of the body and help to examine underlying problems. The body structures are reflected through the output of high-frequency sound waves. There are different types of ultrasound devices, depending upon the site and route of examination.
During the forecast period, the Asia Pacific region is expected to dominate the global market owing to its development and technological advances. The easy accessibility, portability, manageability of ultrasound devices and the rise in prevalence of underlying diseases that are not easily detectable, and the increasing geriatric population are further expected to promote the market growth.
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 major factors propelling the growth of the market. However, there's massive competition for the brands manufactured from the Asia Pacific region. Also, ultrasound images cannot be as accurate as MRI and CT scans. For example, it cannot particularly disclose detailed information about the tumors, whether mortal or any other type.
However, lack of skilled labor to handle the equipment and stringent FDA regulations turns out to be a restraint for the ultrasound devices market in the Asia-Pacific region.
This research report on the Asia Pacific Ultrasound Devices Market has been segmented and sub-segmented into the following categories:
By Device Display
Regionally, an increasing number of age-related illnesses, growing public awareness about therapeutic benefits offered by ultrasound, and rising 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. China amongst the Asia Pacific market dominates the market with its highly developed healthcare and facilities, infrastructure, hospitals, clinics, and healthcare professionals. Along with China and Japan also secures its top shareholder position due to its exports and manufacturing processes and distribution networks.
KEY MARKET PLAYERS:
A few of the promising companies operating in the APAC ultrasound devices market profiled in this report are General Electric Company (U.S.), Koninklijke Philips N.V., Toshiba Corporation, Siemens AG, Hitachi Ltd., Samsung Electronics Co., Ltd., FUJIFILM Holdings Corporation, Esaote S.p.A., Mindray Medical International Ltd and Analogic Corporation (U.S.).
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
3.3 New Developments
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By Technology
5.1.1 Diagnostic ultrasound
220.127.116.11 2D ultrasound
18.104.22.168 3D & 4D ultrasound
22.214.171.124 Doppler ultrasound
5.1.2 Therapeutic ultrasound
126.96.36.199 High-intensity focused ultrasound
188.8.131.52 Extracorporeal Shockwave Lithotripsy
5.2 By Device display
5.2.1 Color Ultrasound Devices
5.2.2 Black and White Ultrasound Devices
5.3 By Portability
5.3.1 Trolley/Cart-based Ultrasound Devices
5.3.2 Compact/Handheld Ultrasound Devices
5.4 By Application
5.4.1 Radiology/General Imaging
5.4.6 Other Applications
6. Geographical Analysis
6.5 South Korea
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 General Electric Company
8.1.2 Product Analysis
8.1.3 Strategic Evaluation and Operations
8.1.4 Financial analysis
8.1.5 Legal issues
8.1.6 Recent Developments
8.1.7 SWOT analysis
8.1.8 Analyst View
8.2 Koninklijke Philips N.V.
8.3 Toshiba Corporation
8.4 Siemens AG
8.5 Hitachi Ltd.
8.6 Samsung Electronics Co., Ltd.
8.7 FUJIFILM Holdings Corporation
8.8 Esaote S.p.A.
8.9 Mindray Medical International Ltd.
8.10 Analogic Corporation
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Expert Opinions
10.1 Market Outlook
10.2 Investment Opportunities
a) List of Tables
b) List of Figures
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