Rising demand for minimal invasive diagnostic procedure coupled with ongoing technological advancement such as introduction of high efficiency sonography and renal denervation devices are anticipated to propel ultrasound sensors market over the forecast period. Growing demand for non-invasive diagnosis and surgeries performed to minimize the LOS (length of stay) in hospitals is vital factor for the growth of this market.
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Increasing awareness about HIFU (high intensity focused ultrasound) devices coupled with rising expenditure in healthcare sector are anticipated to fuel the market growth. Furthermore, growing disposable income, rising incidences of chronic diseases and injuries pertaining to muscles, tendons and internal organs are high impact rendering drivers for ultrasound market over the forecast period. Furthermore, lesser adverse effects and cost effectiveness are anticipated to boost the market by raising the adoption level of ultrasound sensors.
Non-contact sensor in detecting & ranging segment is expected to witness significant growth over the forecast period due to increasing demand for HIFU devices. Ultrasound imaging market is anticipated to witness lucrative growth during the forecast period owing to its capability to produce 3GHz sound waves producing high resolution compared to a clear optical image. Rising incidences in soft tissue disorders in both human and animals are expected to drive acoustic microscopy segment over the forecast period. Among the end-users, hospitals held the largest market share owing to increasing application of ultrasound in healthcare sectors.
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In 2014, North America held the largest market share owing to increasing demand for minimal invasive diagnosis and surgeries and rapid introduction of technologically advanced products into the market. European market is expected to show significant growth during the forecast period due to supportive medical reimbursement policies and huge investment in R&D. Asia Pacific region is anticipated to witness fastest growth over the forecast period owing to increasing awareness level about ultrasound and growing healthcare infrastructure.
Major players of the global ultrasound sensors market are Blatek Inc., Migatron Corp., Vermon, Esaote, Omron, Acuson, Maxbotix, Rockwell Automation, Pepperl+Fuchs and Philips. The market is highly competitive and consolidated in nature due to the presence of large numbers of market players. The market players are involved in various strategic collaborations in order to strengthen their market presence.
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