Market Overview

Global Ultrasound Device Market size was valued at USD 10.24 Billion in 2023 and is poised to grow from USD 10.74 Billion in 2024 to USD 15.78 Billion by 2032, growing at a CAGR of 4.9 % in the forecast period (2024-2032).

The Global Ultrasound Device Market has experienced substantial growth due to advances in medical technology, increasing healthcare needs, and a growing number of applications in different medical specialties. Ultrasound devices are significant in providing diagnosis and therapeutic management processes. These devices are known primarily for their non-invasive and real-time imaging capabilities. They utilize high-frequency sound waves to generate the images of internal structures organs, blood vessels, and tissues. Patients prefer ultrasound procedures to pay much higher amounts for CT scans or MRIs to obtain the result safely, faster, and cheaper. Portability of handheld and transportable ultrasound units has further widened usage at the point-of-care in terms of more rapid diagnosis and health outcomes improvement.

The increase of the Ultrasound Device Market includes developing high-definition imaging, 3D/4D ultrasound, and mobile ultrasound units from advancements in technology. All these improve accuracy in diagnosis, expand the clinical research scope, and make things easier for clinicians and patients. Plus, combined ultrasound with artificial intelligence (AI) and machine learning is also supposed to improve diagnostic capabilities and streamline workflow to interpret ultrasound images much more accurately.

Rise in the number of chronic diseases like heart disease, cancer and musculoskeletal disorders-increasingly leading to continuous monitoring and imaging- is another reason driving the growth of the market. All these conditions require ultrasound devices for early detection and continued management, which will benefit the whole health care outcome. In addition, growing population across the globe is demanding more imaging devices to detect and monitor age-related health issues.

Another important factor for market growth is that this newly developed ultrasound technology is increasingly being adapted to emerging markets, which are rapidly advancing in the health infrastructures. Uptake of ultrasound devices by healthcare facilities and diagnostic centers increases the number of patients who have access to advanced technologies.

Key Findings:

• Philips Highlights AI-Powered Cardiology Advancements in October 2024: Philips unveiled their next-generation cardiovascular ultrasound technology, which includes AI-based capabilities to enhance the diagnosis of structural heart problems, at the TCT 2024 conference in October.
• Canon Medical's Aplio i900 Diagnostic Ultrasound System with Software V7.0, which improves cardiovascular imaging capabilities, was approved by the FDA in September 2024.

Market Drivers

Rising Prevalence of Chronic Diseases and Age-Related Conditions

• There is an increasing prevalence of chronic disease and conditions related to age which drive the growth of the global ultrasound devices market. Regular monitoring and early diagnosis are important for the management of chronic diseases like cardiovascular diseases, diabetes, cancer, and musculoskeletal disorders, which often require imaging technologies such as ultrasound. Because of this, ultrasound provides a non-invasive and low-cost but efficient way to monitor these common diseases whenever a provider is involved to assess progress in time. Moreover, because ultrasound allows these diseases to be diagnosed earlier, the interventions can be enacted toward patients more swiftly, which results in better outcomes from treatment.
• With the growing ageing of the world population, there are increasing incidences of typical age-related conditions like osteoporosis, arthritis, and neurological disorders. Primarily, this leads to the elderly population being affected by a lot of health issues leading to continuous re-evaluation, using imaging techniques. An ultrasound test can be performed without exposing patients to other risks associated with CT and MRI because ultrasound diagnosis is safe and affordable. Being able to perform both diagnosis and monitoring via ultrasound becomes crucial as persons get older and further increases the rate of adoption of ultrasound devices. Indeed, this demographic change phenomenon is expected to continue, further pushing the uptake of ultrasound by various healthcare settings.

Kry Findings:

• Siemens Healthineers Introduces Advanced Ultrasound Systems in June 2024: Siemens Healthineers introduced new ultrasound systems with AI-powered features in June 2024 with the goal of boosting workflow efficiency and diagnostic confidence in a range of clinical scenarios.
• Shenzhen Mindray Bio-Medical Electronics Co., Ltd. introduced the TE Air, a new handheld ultrasound equipment, in March 2023. It offers radiologists several useful advantages, including improved point-of-care ultrasound imaging.

Growing Adoption of Point-Of-Care Ultrasound Devices

• The point-of-care commonplace ultrasound devices are one of the important reasons contributing towards a global development of the Ultrasound Device Market. Point-of-care ultrasound refers to the use of portable ultrasound machines at such a place where a patient is treated-in the bedside, emergency departments, or does outpatient care. This directly changes how healthcare is being sold by making some things faster, accurate, and avoiding the transportation of patients to a centralized imaging center. Because of portable, low-priced, and probably user-friendly, healthcare providers from various places can avail themselves of POC ultrasound, whether in rural areas, urgent care centers, or ambulatory care clinics.
• The other most important feature of POC ultrasound is that it provides real-time imaging, with that patient care practitioners make on-the-spot decisions even in critical or emergency situations. It improves the patient's outcome from early diagnosis and timely intervention. Technological innovations have made these ultrasound machines smaller, with the ability to produce fewer sounds of operating them by non-specialized personnel. They are also cheaper as compared to conventional ones-the reason such health facilities opt to go with it. It improves diagnostic capacity and itself enhances patient care, even in underserved or limited-resource environments, via increasing acceptance of POC ultrasound.

Market Opportunities

Increasing Use of Portable and Handheld Ultrasound Devices

• The use of portable and handheld ultrasound devices getting increased is a change that is taking place globally in the Ultrasound Device Market. Indeed, in every nook and corner, the ultrasound imaging can be conducted with these small, portable devices, from hospitals and clinics to a remote house. That is, instead of going for any specialized imaging center, patients are being diagnosed quickly, on-site on the job, and getting results immediately as they sit. It is a lifesaver, especially in emergencies and critical care, and point-of-care scenarios, which need quick action.
• A tremendous shift to more affordable yet technically advanced handheld ultrasound devices, with better images, longer battery life, and user-friendly interfaces that make possible access to more health care providers, including those with limited training in ultrasound technology. Small health institutions or practitioners in small-underprivileged areas can take on an affordable option compared to those expensive traditional large equipment ultrasound machines. The kiosk-type operations of these devices are also perfect for the growth of telemedicine, as they allow remote consultations and diagnoses. However, as the trend is continuing towards more accessible, decentralized care, the number of users for portable and handheld ultrasound equipment has been increasing, which is expected to improve with quicker, more affordable diagnostics.

Market Restraining Factors

Lack of Skilled Professionals for Operating Advanced Ultrasound Machines

• One of the major restraints to the Global Ultrasound Device Market is the lack of trained personnel who can operate advanced ultrasound machines. Even though ultrasound technology has advanced and provides better-quality images, operating these modern systems requires specialized knowledge and skills. Such trained professionals include radiologists or sonographers whose work not only involves operating this technology but also includes interpreting complex images caused by ultrasound. Another dimension of difficulty for healthcare providers is that modern ultrasound machines, characterized by 3D/4D imaging with the latest artificial intelligence capabilities, have made the machines too much more complex to operate.
• The lack of skilled professionals is detrimental to the use of the ultrasound equipment and may lead to poor-quality images and late diagnoses for patient care. Also, there exists a vast gap in many areas with available sonographers and technicians especially in developing countries or rural areas, where high-level and advanced training could be lacking. The situation is getting worse due to the increase in demand for ultrasound services, resulting in more and more pressure on healthcare systems to bridge the gap brought about by a deficiency of autologous skills in training. Therefore, healthcare institutions must invest in comprehensive training and re-education programs for professionals in using advanced ultrasound technologies to improve diagnostic accuracy.

Segmentation Analysis

The market scope is segmented because of by Product, by Portability, by Application, by End-use.

• By Product

Based on the Product of the market is segmented into Diagnostic Ultrasound Devices [2D, 3D/4D, Doppler], Therapeutic Ultrasound Devices [High-intensity Focused Ultrasound, Extracorporeal Shockwave Lithotripsy].

The product segments in the Global Ultrasound Device Market, diagnostic ultrasound devices notably dominate 2D, 3D/4D, or Doppler ultrasound devices; the major reasons attributed for this are the extensive use of diagnostic ultrasound across different medical specialty areas like obstetrics and gynecology, cardiology, musculoskeletal imaging, and emergency care. A non-invasive diagnostic imaging technique, it provides numerous benefits in early diagnosis, disease monitoring, and decision-making. Imaging is done by acquiring real-time, high-resolution images of internal structures involved. This has made them invaluable instruments in clinical practice.

Diagnostic ultrasound devices, 2D ultrasound is the most frequently used because of its simplicity and relative low cost, combined with the fact that for a range of conditions it is adequate diagnostically, especially in obstetrics and gynecology. The development of 3D/4D ultrasound, providing detailed imaging of these tissues and organs in addition to the development of the fetal organism during pregnancy, has also further boosted market growth especially in the field of prenatal care. Doppler ultrasound, which measures blood flow and helps in the diagnosis of cardiovascular diseases, is much in demand today owing to the many heart-related ailments.

• By Portability

Based on the Portability of the market is segmented into Handheld, Compact, Cart/Trolley [Point-of-Care Cart/Trolley Based Ultrasound, Higher-end Cart/Trolley Based Ultrasound].

Compact ultrasound devices have dominated the market. It has been beneficial because the segment manifests a nice balance between portability and functionality, as well as performance, making it least suitable for a wide range of health settings. Being smaller and much lighter than traditional cart-based machines, these devices retain much of the advanced imaging quality and features of their larger counterparts. The resulting design facilitates greater mobility and ease of use, especially in areas such as emergency rooms, outpatient clinics, and in the field, where rapid and accurate diagnoses will be critical.

One thing most vulture honing on compact portability is flexibility and accessibility. These machines perform better regarding portability and deliver an excellent outcome in terms of imaging performance, thus achieving greater affordability. They make cheaper devices that are more economical when compared with higher-end cart systems and render them very suitable for smaller healthcare facilities and medical practices.

• Regional Snapshots

By region, Insights into the markets in North America dominated in the Global Ultrasound Device Market with Europe, Asia-Pacific, Latin America, and MEA as study regions. Among other regions across the world, North America has long-held its position as the leader in the Ultrasound Device Market. Such could be because of a number of reasons like advanced healthcare infrastructure, huge rates in adopting new innovative medical technologies, and high healthcare spending. The region, particularly the USA, boasts well-established healthcare systems with high demand for advanced diagnostics tools such as ultrasound devices. With all the significant players in the market, strong reimbursement policies, and huge research and development activity, North America is expected to lead in ultrasound devices by market share. Consequently, very high healthcare standards, an early adoption of new technologies, and an increasing elderly population in the U.S. and Canada will ultimately lead to growing demand for ultrasound applications for routine and specialized uses.

On the other hand, it is expected that Asia-Pacific would be the fastest-growing among all markets in the world. This is because of increasing health care investments, improving health care infrastructures, and increased focus on health care in emerging economies like China, India, and the Southeast Asian region. Population numbers continue to engorge chronic diseases as well as those conditions mostly related to aging, thus triggering demand for diagnostic imaging. With an increasing priority directed toward health care access and enhanced healthcare investments, the Asia-Pacific region is seeing increased demand for affordable, portable ultrasound devices, especially in rural and underserved areas. Combined with the rapid acceptance of medical technologies and the government's health improvement initiatives, these will serve to propel the growth of subs.

List of Companies Profiled

• Koninklijke Philips N.V.
• GE Healthcare
• Siemens Healthineers AG
• Canon Medical Systems
• Mindray Medical International Limited
• Samsung Medison Co., Ltd.
• FUJIFILM SonoSite, Inc.,
• Konica Minolta Inc.
• Esaote

Key Industry Developments

• Samsung Medison Co., Ltd. unveiled V6, a new ultrasound system featuring color, 3D, and 2D imaging quality, in November 2023.
• To improve clinical efficiency, BD unveiled a brand-new, cutting-edge ultrasound system in November 2023.
• GE Healthcare unveiled the Vscan Air SL, a new wireless ultrasound imaging device for quick evaluation, in August 2023.

Report Coverage

The report will cover the qualitative and quantitative data on the Global Ultrasound Device Market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.

Report Scope and Segmentations

Global Ultrasound Device Market Regional Analysis

North America accounted for the highest xx% market share in terms of revenue in the Ultrasound Device market and is expected to expand at a CAGR of xx% during the forecast period. This growth can be attributed to the growing adoption of Ultrasound Device. The market in APAC is expected to witness significant growth and is expected to register a CAGR of xx% over upcoming years, because of the presence of key Ultrasound Device companies in economies such as Japan and China.

The objective of the report is to present comprehensive analysis of Global Ultrasound Device Market including all the stakeholders of the industry. The past and status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.

Ultrasound Device Market Report is also available for below Regions and Country Please Ask for that

North America

• U.S.
• Canada

Europe

• Switzerland
• Belgium
• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Rest of Europe

Asia-Pacific

• India
• Australia
• Philippines
• Singapore
• South Korea
• Japan
• China
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Argentina
• Peru
• Colombia
• Brazil
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Points Covered in the Report

• The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 12 years data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
• The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Key Reasons to Purchase

• To gain insightful analyses of the Ultrasound Device market and have comprehensive understanding of the global market and its commercial landscape.
• Assess the production processes, major issues, and solutions to mitigate the development risk.
• To understand the most affecting driving and restraining forces in the market and its impact in the global market.
• Learn about the Ultrasound Device market strategies that are being adopted by leading respective organizations.
• To understand the outlook and prospects for the Ultrasound Device market. Besides the standard structure reports, we also provide custom research according to specific requirements.

Research Scope of Ultrasound Device Market

• Historic year: 2016- 2022
• Base year: 2023
• Forecast: 2024 to 2032
• Representation of Market revenue in USD Billion

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