Ultrasound Devices Market Research Report Information By Portability (Cart/Trolley, Handheld/Compact and Point-Of-Care (POC)), By Display (Color and Black and White), By Application (Radiology/General Imaging, Obstetrics/Gynecology, Cardiology, Anesthesiology, Urology, Vascular, Musculoskeletal, Gastroenterology and Neurology), By Technology (Diagnostic Ultrasound and Therapeutic Ultrasound), By End-User (Hospitals And Diagnostic & Surgical Centers, Ambulatory Centers, Maternity Centers and Research And Academic Institutes), and By Region (

Global Ultrasound Devices Market Overview

Ultrasound Devices Market Size was valued at USD 10.8 billion in 2022. The ultrasound devices market industry is projected to grow from USD 11.2 Billion in 2023 to USD 15.39 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.1% during the forecast period (2023 - 2032).Major market drivers anticipated to accelerate market expansion include the rise in the use of ultrasound equipment for diagnostic imaging and therapy as well as the rising prevalence of chronic and lifestyle-related illnesses.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Ultrasound Devices Market Trends

• Growing prevalence and incidence of chronic disease to propel market growth

Over 14 million people worldwide are currently impacted by chronic disease, which is spreading quickly throughout the globe. Around 18.2 million persons in the United States aged 20 and older had coronary artery disease (CAD) in 2021, according to the Centers for Disease Control and Prevention (CDC). In America, heart disease is the main factor in fatalities. The prevalence of chronic diseases drives up the need for expensive diagnostic procedures, which drives the market. Furthermore, the International Diabetic Federation (IDF) estimates that 537 million individuals (20-79 years old) worldwide are living with diabetes as of 2022. By 2030 and 2045, there are expected to be 643 million and 783 million diabetics worldwide, respectively. Additionally, the World Health Organization (WHO) estimates that by 2022, 422 million people worldwide will have diabetes and that diabetes will be directly responsible for 1.5 million fatalities annually. Over the past few decades, there has been a consistent rise in the incidence and prevalence of chronic diseases. Because of the rising prevalence of chronic diseases, there is a greater need for diagnostics, which will drive the market's expansion. Thus, this factor is driving the market CAGR for ultrasound devices.Figure 1: Prevalence of chronic disease in U.S.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Furthermore, due to their low immunity levels and increased susceptibility to sickness, the older population requires intensive care, which lowers their quality of life during the prolonged recovery period. Due to older people's poorer regenerative skills, diseases, including diabetes and cardiovascular illnesses, are more common, increasing the need for better detection and treatment. According to the WHO, 1.4 billion people aged 60 and older will be worldwide by 2030, up from 1 billion in 2019. The number of people 80 years or older is also anticipated to treble between 2020 and 2050, reaching 426 million. The need for more advanced diagnostic and therapeutic methods is growing as the world's population is getting older. Additionally, the preference for minimally invasive medical procedures is surging due to the growing emphasis on quicker and generally painless treatments. This would further increase the use of echograph equipment.

However, another common use of ultrasound devices is in the obstetrics and gynecology (OB/GYN) area. Many ultrasound devices are used during pregnancy to childbirth and other difficulties relating to female reproductive systems. Recent developments like 4-D fetal ultrasounds and exceptionally clear fetus images have helped the ultrasound devices market experience amazing growth, making OB/GYN one of the most important application areas. Furthermore, a notable area of growth for ultrasound systems is ultrasound imaging for gynecological purposes, such as diagnosing and identifying any reproductive or fertility problems. A few of the most well-known OB/GYN ultrasound equipment are the GE LOGIQ Book XP, Medison SonoAce 8000, Sonosite MicroMaxx, and SonoAce 9900. Thus, it is anticipated that this aspect will accelerate ultrasound devices market revenue globally.

Ultrasound Devices Market Segment Insights

Ultrasound Devices Portability Insights

The ultrasound devices market segmentation, based on portability, includes cart/trolley, handheld/compact and point-of-care (POC). The cart/trolley segment held the majority share in 2022 in the ultrasound devices market data due to the huge trolley/cart-based ultrasound devices' superior diagnostic capabilities and great performance.

Ultrasound Devices Display Insights

The ultrasound devices market segmentation, based on display, includes color and black and white. The color segment dominated the market growth for ultrasound devices in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030. The market is anticipated to be driven by a high adoption of technologically improved ultrasound equipment and rising consumer awareness of the benefits of portable color ultrasound devices.

Ultrasound Devices Application Insights

The ultrasound devices market data, based on application, includes radiology/general imaging, obstetrics/gynecology, cardiology, anesthesiology, urology, vascular, musculoskeletal, gastroenterology and neurology. The radiology/general imaging segment dominated the ultrasound devices market revenue for ultrasound devices in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030. General imaging is less expensive than other applications and includes a wide range of scans that clinicians need for diagnosis and direct treatment, including scans of the abdomen, urology, liver, thyroid, scrotum, bladder, pancreas, musculoskeletal system, small parts, kidneys, spleen, and gallbladder.

Ultrasound Devices Technology Insights

The ultrasound devices industry, based on technology, includes diagnostic ultrasound and therapeutic ultrasound. The diagnostic ultrasound segment dominated the market for ultrasound devices in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030. This is due to the numerous uses in oncology, cardiology, and obstetrics. The need for diagnostic ultrasonography devices is also anticipated to increase due to technology improvements and the rising prevalence of numerous lifestyle-related illnesses.

Figure 2: Ultrasound Devices Market, by Technology, 2022 & 2030 (USD Billion) Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Ultrasound Devices End-User Insights

The ultrasound devices industry, based on end-user, includes hospitals and diagnostic & surgical centers, ambulatory centers, maternity centers and research and academic institutes. The hospitals and diagnostic & surgical centers segment dominated the market for ultrasound devices in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030 due to a growth in people attending hospitals with various lifestyle-related diseases and the widespread usage of ultrasonography equipment in medical settings.

Ultrasound Devices Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America ultrasound devices market accounted for USD 4.9 billion in 2022 with a share of around 45.80% and is expected to exhibit a significant CAGR growth during the study period. It is anticipated that the prevalence of chronic diseases among the growing geriatric population would increase consumer demand, driving the market's growth. Another significant factor that could improve the industry in the region is probably the engagement of well-known businesses.

Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: ULTRASOUND DEVICES MARKET SHARE BY REGION 2022 (%) Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Asia Pacific ultrasound devices market accounts for the second-largest market share. A significant factor that would likely grow the market during the assessment period is the incidence of chronic diseases. Furthermore, it is anticipated that growing nations like Japan, China, and India would significantly strengthen the market during the assessment period. Moreover, China ultrasound devices market held the largest market share, and the India ultrasound devices market was the fastest growing market in the region.

Europe ultrasound devices Market is expected to grow at the fastest CAGR from 2022 to 2030. The expanding senior population and the rising incidence of chronic illness among them are anticipated to be key drivers that will boost the market in the near future. Further, the UK ultrasound devices market held the largest market share, and the Germany ultrasound devices market was the fastest growing market in the region.

Ultrasound Devices Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the ultrasound devices market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the ultrasound devices industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies manufacturers adopt in the ultrasound devices industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. In recent years, ultrasound devices industry has provided medicine with some of the most significant benefits. The ultrasound devices market major player such as Fukuda Denshi (Japan), Samsung Electronics Co. Ltd. (South Korea), Analogic Corporation (U.S.), Hitachi Ltd. (Japan), Koninklijke Philips N.V. (The Netherlands), Fujifilm Holdings Corporation (Japan), Canon Medical Systems Corporation (Japan), Shantou Institute of Ultrasonic Instruments Co. Ltd. (China), Esaote Spa (Italy) and Siemens Healthineers (Germany).

The Samsung Group is a worldwide manufacturing corporation with its main office in Samsung Town, Seoul, South Korea. The largest chaebol in South Korea, it is made up of a number of connected companies, most of which are unified under the Samsung name (business conglomerate). In December 2020, in an effort to solidify its position in the market, Samsung Medison unveiled its RS85 Prestige ultrasound diagnostic solution at the Radiological Society of North America (RSNA) 2020. This device is designed to deliver efficient scanning performance.

Also, the Dutch international conglomerate firm known simply as Philips was established in Eindhoven in 1891 as Koninklijke Philips N.V. The majority of its operations have been based in Amsterdam since 1997, however the Benelux headquarters remain in Eindhoven. In February 2019, Koninklijke The EPIQ Elite ultrasound system was introduced to the market by Philips. To boost clinical confidence and the patient experience, this technology is meant to be utilised in general imaging and obstetrics & gynecology.

Key Companies in the ultrasound devices market includes

• Fukuda Denshi (Japan)


• Samsung Electronics Co. Ltd. (South Korea)


• Analogic Corporation (U.S.)


• Hitachi Ltd. (Japan)


• 
  Koninklijke Philips N.V. (The Netherlands)


• Fujifilm Holdings Corporation (Japan)


• Canon Medical Systems Corporation (Japan)


• Shantou Institute of Ultrasonic Instruments Co. Ltd. (China)


• Esaote Spa (Italy)


• 
  Siemens Healthineers (Germany)

Ultrasound Devices Industry Developments

April 2022:Ambra Health and Butterfly Network, Inc. recently established a cooperation to speed up and streamline the interchange of bedside imaging data. Through this cooperation, Butterfly Blueprint, the company's enterprise platform, will be able to scale more easily, and it will be easier for hospitals and health systems to access and share critical ultrasound data.

March 2021:In the palm of physicians' hands, GE Healthcare unveiled Vscan Air, a wireless pocket-sized ultrasound with whole-body scanning capability and user-friendly software.

Ultrasound Devices Market Segmentation:

Ultrasound Devices Portability Outlook(USD Billion, 2018-2030)

• Cart/Trolley


• Handheld/Compact


• Point-Of-Care (POC)

Ultrasound Devices Display Outlook(USD Billion, 2018-2030)

• Color


• Black and White

Ultrasound Devices Application Outlook(USD Billion, 2018-2030)

• RADIOLOGY/GENERAL IMAGING


• OBSTETRICS/GYNECOLOGY


• CARDIOLOGY


• ANESTHESIOLOGY


• UROLOGY


• VASCULAR


• Musculoskeletal


• Gastroenterology


• Neurology

Ultrasound Devices Technology Outlook(USD Billion, 2018-2030)

• Diagnostic Ultrasound


• Therapeutic Ultrasound

Ultrasound Devices End User Outlook(USD Billion, 2018-2030)

• Hospitals And Diagnostic & Surgical Centers


• Ambulatory Centers


• Maternity Centers


• Research And Academic Institutes

Ultrasound Devices Regional Outlook(USD Billion, 2018-2030)

• North America


• US


• Canada


• Europe


• Germany


• France


• UK


• Italy


• Spain


• Rest of Europe


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America