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The radiology segment held a major share of the market in terms of revenue in 2014. It is expected to expand at the fastest CAGR during the forecast period. Introduction of advanced technologies (Doppler ultrasound technology) would drive demand for ultrasound devices in cardiovascular imaging applications.
Europe was the largest market for ultrasound devices in 2014, accounting for around 32.8% share. The region dominated the market by steady increase in ultrasound devices due to high growth of public hospitals. On the other hand, Asia Pacific is expected to gain market share during the forecast period to emerge as the fastest growing market.
GE Healthcare, FUJIFILM Holdings Corporation, Koninklijke Philips N.V., Mindray Medical Corporation, Esaote SpA, and Analogic Corporation are the major players operating in the global ultrasound devices market.
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