World market revenues for the ultrasound sector in 2014 were USD 5.8 billion, while market growth rate was 5%. Factors like the absence of radiation, the smaller form factor, and the relative low cost compared to other imaging technologies have fueled the trend. Growth is expected to continue until 2018.
The current and projected future ultrasound market trends were analyzed in Kalorama’s (New York, NY, USA) report, Ultrasound: World Market Analysis which covers the world, BRIC (Brazil, Russia, India, and China), Europe, United States, and Japan.
The use of ultrasound for has spread to new point-of-care applications such as cardiology, breast health, surgery, and urology. This is in part due to a decrease in size and an associated increase in mobility, making it suitable for real-time 3-D imaging in interventional procedures, and as an aid during surgery.
“Portable and handheld ultrasound units are changing and expanding the diagnostic ultrasound market by serving existing clinical markets more efficiently, said, Bruce Carlson, publisher of Kalorama Information. “They also are creating new point-of-care applications for which ultrasound had been either too cumbersome or too expensive to be used before.”