The global ultrasound market is projected to reach USD 8.4 billion by 2023 from USD 6.3 billion in 2018, at a CAGR of 5.9 percent, predicts MarketsandMarkets. Increasing prevalence of target diseases; rising patient preference for minimally invasive procedures; technological advancements; increasing number of diagnostic centers and hospitals; and growing public and private investments, funding, and grants are the major factors driving the growth of the global market. The trolley/cart-based ultrasound systems segment is expected to account for the largest share of the ultrasound market in 2018 attributing to their growing adoption across major markets due to their increasing use in acute care and emergency care settings in hospitals and healthcare institutions.
Vascular ultrasound is one of the fastest-growing application segments in the ultrasound market majorly due to the rising incidence of vascular disorders across the globe, coupled with the greater adoption of vascular ultrasound for the diagnosis of these disorders and technological advancements in the field of 3D/4D imaging. In 2018, Europe is expected to account for the largest share of the global market owing to the large number of ongoing clinical research projects in the field of ultrasound, expansions in the clinical applications of focused ultrasound (and the early commercialization of these devices in Europe), and the significant healthcare expenditure across mature European countries (such as Germany, France, the UK, Italy, and Spain).