The global ultrasound market is expected to grow at a compound annual growth rate (CAGR) of 5.5% from 2016 to 2022, according to P&S Market Research.
The market was valued at $6.01 billion (5.3 billion euros) in 2015 and is expected to grow due to increased health spending, technological advancement of ultrasound, increasing demand for minimally invasive diagnostic and therapeutic techniques, and growing geriatric populations. Also, an increase in chronic diseases and improved healthcare infrastructure in developing countries are driving growth.
The segment of the market expected to grow the fastest is handheld ultrasound, with a CAGR of 8.8%. Meanwhile, the Asia-Pacific market is expected to witness the fastest growth by geographical region, with a CAGR of 6.3% during the forecast period.
