The global ultrasound device market was valued at USD 6014.4 million in 2015, and it is expected to grow at a CAGR of 5.5 percent from 2016 to 2022, according to P&S Market Research. The color ultrasound segment is anticipated to account for the largest share of the market owing to the technological benefits offered by it, growing market availability of advanced color ultrasound devices, rising market demand for minimally invasive therapies across major markets, and rising trend of the competitive pricing strategy adopted by devices manufacturers are contributing to the growth of the color ultrasound segment. The portable ultrasound segment is expected to witness the fast growth at a CAGR of 8.8 percent, over the next six years. Among various field strengths, the high-field MRI segment is expected to witness the fastest growth over the analysis period.
Stringent regulatory requirements for the approval of ultrasound devices are inhibiting the growth of the global market. Geographically, Europe dominated the global market of ultrasound devices in 2015 whereas the Asia-Pacific market is expected to witness the fastest growth, a CAGR of 6.3 percent, from 2016 to 2022.