The ultrasound market has witnessed significant advancements in terms of the development and commercialization of ultrasound products (such as color ultrasound devices, trolley and cart based, compact based and point of care ultrasound products) over the last few years.

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Technological advancements in the field of ultrasound such as the penetration of the ultrasound technique for diagnostic and therapeutic purposes in the field of radiology, cardiology, urology and other applications, increasing global prevalence of targeted diseases, growing patient preference for minimally invasive procedures, growing public and private investments, funding & grants, and rising birth rates in emerging countries are some of the major factors driving the growth of the market.

As of 2016, Europe held the largest share in the market. However, Asia-Pacific countries such as China and India are emerging as new revenue-generating destinations for prominent market players. The increase in the adoption rate of color, 3D/4D, & compact ultrasound products and improving healthcare infrastructure across developing countries are expected to drive the growth opportunities in the Asia-Pacific region during the forecast period.

The therapeutic ultrasound technology is expected to be the fastest growing ultrasound technology market during the forecast period owing to factors such as the growing number of cancer and cardiological diseases on a global level, growing HIFU-focused clinical trials, and the growing preference for minimally invasive techniques over conventional techniques.

The color display segment is expected to be the fastest growing ultrasound products market during the forecast period due to growing adoption of it in the field of radiology/general imaging, cardiology, OB/GYN, urology, and vascular imaging.

The OB/GYN segment is poised to be the fastest growing application segment of the market during the forecast period owing to factors such as the rising incidence of target diseases, growing adoption of minimally invasive procedures among hospitals & diagnostic centers, and ongoing technological developments in the field of ultrasound technology.

The ambulatory care centers segment is expected to be the fastest-growing end-user segment for ultrasound products owing to factors such as ongoing advancements in minimally invasive surgical techniques and increasing number of image-guided surgeries performed at ambulatory care centers.