Ultrasound Market Global Overview and Forecast 2023-2029

 During the second part of the twentieth century, ultrasound evolved fast as a tool for medical picture interpretation. Its value was demonstrated in imaging when its unique features provided distinct advantages over other imaging modalities. It is widely recognized as a nonionizing, non-invasive form of energy. The demand for both basic and specialized ultrasound services has gradually grown and continues to grow, with new frontiers being explored.

Basic ultrasound services are more easily established and expanded than other imaging modalities because they require less physical infrastructure and cost less in equipment and consumables. Personnel, on the other hand, is an entirely different matter. The employment of well-trained, highly skilled resource workers is required for the provision of dependable diagnostic ultrasonography services.

Ultrasound Market Overview: 

The Market Research Report has thoroughly examined the current definitions, classifications, applications, and the overall industrial chain structure. This analysis incorporates objective professional assessments of the present market status, historical market performance, production and consumption rates, demand and supply dynamics, and projected revenue generation. Furthermore, the study of the Ultrasound Market also encompasses insights into the strategic objectives and growth plans of major companies operating within the Ultrasound  industry. This encompasses activities such as mergers and acquisitions, government and corporate transactions, collaborations, partnerships, joint ventures, brand management, marketing initiatives, and product launches. In summary, this research provides a comprehensive overview of the Ultrasound  sector within both global and regional markets.

Ultrasound Market size was valued at USD 7.24 Bn. in 2022 and the total Ultrasound revenue is expected to grow by 6.5% from 2023 to 2029, reaching nearly USD 11.25 Bn.

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COVID-19 Impact on Ultrasound market:

The COVID-19 pandemic has had a significant impact on the Ultrasound  industry. Production facilities have been halted due to the global economic downturn and a lack of personnel. The COVID-19 epidemic has caused a significant and prolonged fall in production utilization, while travel prohibitions and facility closures have kept employees away from their facilities, causing the Ultrasound  market to decelerate in 2020. The negative impact of COVID-19 on the Ultrasound  market, on the other hand, is likely to be brief, with the industry rebounding fast by early 2021 due to strong demand for Ultrasound .  

Ultrasound Market Drivers:

The prevalence of chronic diseases is constantly increasing, increasing the need for healthcare services such as increased patient visits, hospital admissions, and procedures. For example, according to CDC statistics from 2022, there were over 900 million doctor visits, 155 million ER visits, and 45 million outpatient treatments performed in the United States. This has resulted in a significant increase in demand for medical imaging equipment, notably ultrasound devices for diagnostic and treatment processes, as well as an increase in the number of elderly populations globally suffering from chronic diseases.

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Ultrasound  Market Segmentation: 

by Technology

1. Diagnostic Ultrasound
1.1 2D Ultrasound
1.2 3D & 4D Ultrasound
1.3 Doppler Ultrasound
2. Therapeutic Ultrasound
1.1 High-Intensity Focused Ultrasound (HIFU)
1.2 Extracorporeal Shockwave Lithotripsy (ESWL)
by Device Display

1. Color Ultrasound
2. B/W Ultrasound
by Portability

1. Trolley/Cart-based Ultrasound Systems
2. Compact/Handheld Ultrasound Systems
3. Point-of-care (PoC) Ultrasound Systems
by Application

1. Radiology/General Imaging Applications
2. Obstetrics/Gynecology Applications
3. Cardiology Applications
4. Urology Applications
5. Vascular Applications
6. Orthopedic and Musculoskeletal Applications
7. Pain Management Applications
8. Other Applications (hepatology, neurology, bariatric surgery, breast imaging, and emergency care, among others)
by Component

1. Transducers/ Probes
1.1 Curvilinear/ Convex Array Probes
1.2 Linear Array Probes
1.3 Phased Array Probes
1.4 Other Probes
2. Workstations
3. Other components
by End User

1. Hospitals, Surgical Centers, and Diagnostic Centers
2. Maternity Centers
3. Ambulatory Care Centers
4. Research and Academia
5. Other End Users (physiotherapy clinics, independent associations, government organizations, and sports academies, among others)

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Key Players:

The research provides an in-depth evaluation of the Ultrasound  market and its presence in various sectors and regions. The research analyst seeks to unearth latent development potential that enterprises in various locations of the world can leverage by doing a complete geographical assessment of the sector. Global Ultrasound  Market research provides exact information that enables market participants to compete successfully in terms of growth, sales, and other vital criteria with their most important competitors. In the research analysis, significant market components such as market drivers and obstacles are distinguished from vital development prospects and industry trends.
1. GE Healthcare (US)
2. Hologic, Inc (US)
3. Integra Medical Systems LLC (US)
4. Analogic Corporation (US)
5. Carestream Health (US)
6. Medgyn Products, Inc (US)
7. United Imaging Healthcare Co., Ltd. (US)
8. Clarius Mobile Health (Canada)
9. Neusoft Corporation (China)
10. SonoScape Medical Corp. (China)
11. Mindray Medical International Limited (China)
12. Chison Medical Technologies Co., Ltd. (China)
13. CANON MEDICAL SYSTEMS CORPORATION (Japan)
14. Hitachi Ltd. (Japan)
15. FUJIFILM Holdings Corporation (Japan)
16. Konica Minolta, Inc (Japan)
17. Samsung Medison Co., Ltd. (South Korea)
18. CURA Healthcare (India)
19. Siemens Healthcare (Germany)
20. Esaote SpA (Italy)
21. Koninklijke Philips N.V. (Netherlands)

Regional Analysis:

The analysis also contains important market influencing components and regulatory developments that have an impact on market present and future trends. Some of the important components utilized to examine the market scenario for different areas include new sales, replacement sales, national demography, regulatory activities, and import-export tariffs. Furthermore, while offering forecast analysis of national data, the existence and availability of global brands, as well as the challenges they confront owing to strong or weak competition from local and domestic brands, as well as the impact of sales channels, are analyzed.

Key Questions Answered in the Ultrasound Market Report are: 

  • What is Ultrasound  ?
  • What is the expected CAGR of the Ultrasound  market during the forecast period?
  • Which region held the largest Ultrasound  market share in 2022?
  • What are the major drivers of the Ultrasound  Market?
  • What are the Ultrasound  Market segments?
  • What factors are expected to challenge the market growth during the forecast period?

Key Offerings:

  • A detailed market overview
  • Market Share, Size & Forecast by Revenue | 2023−2029
  • Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
  • Market Segmentation – A detailed analysis by segments and sub-segments
  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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