The global market for ultrasound devices is expected to increase at a compound annual growth rate (CAGR) of 6.4% from 2013 to 2019 to reach an estimated value of $8.7 billion in 2019, according to a new report from Transparency Market Research.
The global market by volume is expected to grow at a CAGR of 8.8% from 2013 to 2019, according to the firm.
The report divides the market into 2D, 3D, and 4D ultrasound; high-intensity focused ultrasound (HIFU); Doppler imaging; and lithotripsy imaging categories. An aging population is the primary driver of growth in the ultrasound market, with a rise in the incidence of cardiovascular and oral diseases across all age groups also contributing, according to the firm.
3D and 4D ultrasound imaging will see the highest growth rate, at more than 10% during the forecast period, Transparency Market Research found. As for geographical regions, the Asia-Pacific market is projected to grow at the highest CAGR (7.5%) from 2013 to 2019, owing to growth in the elderly population in nations such as China and India.
