Ultrasound device market to grow due to rise in strokes, cancer and heart disease

A new report revealed that the ultrasound device market is set to increase to US$12.5 BN by 2031 due to the rise in strokes, cancer and heart disease.

The global ultrasound devices market is expected to expand at a CAGR of 6 per cent from 2021 to 2031 according to a report by Transparency Market Research (TMR). It also estimates that the market wil reach US$12.5 billion by 2031.

It states that this is the result of a notable increase in the number of patients experiencing chronic health conditions spanning cancer, heart disease and stroke. In the UK alone, it is estimated that over 113,000 people experiencing a stroke each year and there are currently around 1 million stroke survivors. UK cancer diagnosises have also risen by 375,000 new cases every year.

This has increased the demand for ultrasound diagnostic imaging procedures and diagnostic devices across the healthcare industry.

Ultrasound technology

The ability of ultrasound technology to help professionals provide diagnostic data for point of care treatment is another reason for the increase. It has been increasingly adopted across emergency departments and is viewed as a promising innovation that could help to transform healthcare.

It provides diagnostic images using an ultrasound transducer linked to a tablet or smartphone.

Companies developing ultrasound devices are focused on launching technologically advandced systems to strength their product portfolio. This also contributes to the expansion of the global market for such devices. The report stated that companies are investing in research and development projects while collaborating with scientists.

When it comes to technology advancement of ultrasound devices, there are several new advancements coming to market. Wounds that do not receive proper care and on-time treatment can result in severe illness. Some manufacturers in the ultrasound device market are focused on providing ultrasound debridement technology which can accelerate the wound healing process.

The use of non-contact, low frequency ultrasound is also increasing as technological advancements help the abilty of ultrasound debridement to lessen pain, manage bio-burden due to chronic wounds and remove devitalised tissue.

Global ultrasound markets

One of the more dominant markets for ultrasound devices is North America. It is projected to maintain this position due to factors such as increased financial support from the US government as well as private organisations for research activities. There has also been a rise in major chronic disorders in the region too.

In Europe, the market is expect to gain a valution of over US$3.7 billion by 2031 owing to the rise in technological advancedments in the regional healthcare industry.