The surging elderly population, growing preference for minimally invasive medical procedures, rising burden of chronic ailments, ongoing advancements in ultrasound technology, and mounting healthcare expenditure will help the ultrasound device market grow in the coming years. In recent years, the miniaturization of point-of-care devices has become a major market trend. Healthcare facilities around the world are switching to miniature and portable devices to facilitate improved healthcare services. To offer point-of-care treatment to patients, healthcare units are increasingly focusing on the use of compact and lightweight devices.
The growing preference for minimally invasive medical procedures, owing to the less pain associated with these procedures, is one of the major growth drivers for the market. Healthcare facilities are using ultrasound devices for minimally invasive diagnostic procedures for visualizing tissues and organs of the body. These devices are also utilized in interventional radiology for fluid management, as some of the ultrasound-guided procedures require fluid collection through tissue sampling and needle aspiration.
The general radiology/imaging category, within the application segment, held the largest share in the ultrasound device industry in the preceding years, and it is also expected to retain its dominance in the forthcoming years. Whereas, the cardiology category will register the fastest growth in the upcoming years, due to a considerable surge in the cases of heart diseases. Moreover, CVDs, a group of heart and blood vessel disorders, accounted for nearly 17.9 million fatalities in 2019, as per the WHO.