The global Ultrasound Systems market reported a large market size in 2022 and is expected to expand significantly at a rapid CAGR during the forecast period. Industry analysis indicates that demand for reliable products has been rising substantially, and their adoption across the healthcare industry has been increasing in parallel due to changing market trends and consumption patterns, which is expected to support market growth over the forecast period.
Ultrasound is a modern technique used for generating body images for diagnosis, analyzing fetus movements, or general body workup. Allowing constant transmission of high frequency sound waves inside the body, ultrasound system allows a better display of a body component. Rapid increasing geriatric population and rising prevalence of cancer coupled with ongoing technological advancements are expected to create immense opportunities for the market growth.
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Global Ultrasound Systems Market: Dynamics
Drivers:
Rising prevalence of chronic diseases among people, increasing demand for minimally-invasive diagnostic procedures, and rapid technological advancements have potentially driven the market growth. Constituting of a transducer and detector or probe, ultrasound system has increasingly gained popularity among due to minimal usage of ionizing radiation to diagnose or treat body ailments. Growing technological advancements in the field of diagnostic and therapeutic ultrasound imaging, availability of favorable government reimbursement policies, and emerging applications in different fields of healthcare are expected to drive demand and supply in the market. Furthermore, introduction of doppler ultrasound in vascular imaging and 3D/4D ultrasound in oncology has elevated the level of traditional medical procedures. Rising prevalence of chronic diseases including cancer, reproductive organ disorder, renal stones, muscle lacerations, and spleen problems will further support the market growth.
Restraints:
Major factors including inconsistent government funds for purchasing high-end instruments and high cost associated with installation of novel ultrasound technologies might hamper the market growth to a certain extent going ahead. Dearth of skilled professionals in developing countries and other barriers impeding use of diagnostic ultrasound will also act as a challenge to the market.
Market Insights:
Portability Outlook:
On the basis of system portability, the market is segmented into trolley or cart-based, compact or handheld, and point-of-care ultrasound systems. The trolley/cart-based ultrasound systems segment is expected to account for largest share during the decade due to growing adoption in gynaecology clinics, surgical centres and increasing usage in acute care settings and emergency care in healthcare institutions.
Type Outlook:
Based on technology, the market is segmented into diagnostic ultrasound and therapeutic ultrasound. Diagnostic segment is further segmented into 2D, 3D, 4D, and doppler ultrasound while therapeutic ultrasound is segmented into focused ultrasound and shockwave lithotripsy. Diagnostic ultrasound is expected to account for significant share in the market owing to increasing usage of 2D ultrasound in women’s health, availability of medical reimbursement for diagnostic procedures, and ongoing technological advancements in the field of diagnostic ultrasound imaging.
Application Outlook:
The market is segmented on the basis of application into radiology/general imaging, obstetrics/gynaecology, cardiologic, vascular, urology, orthopaedic and musculoskeletal, pain management, and others. Radiology/general imaging segment will lead the market due to rising prevalence of various cancers around the world, technological advancements, growing market availability and physician preference for HIFU in cancer treatment, and increasing usage of ultrasound in tissue biopsy.
Global Ultrasound Systems Market: Regional Landscape
North America ultrasound systems market is expected to hold largest market share of the global market owing to well-developed health care infrastructure, flourishing medical facilities, presence of relevant government reimbursement policies, and high disposable income. Europe remained the second largest market driven by rising demand in ambulatory care centers. Asia Pacific growing at the fastest CAGR, which is attributable to technological advancements in health care, rapid increase in population, and rising number of ultrasound diagnostic procedures performed annually in China and India.
Major Players in the Global Ultrasound Systems Market
GE Healthcare, Koninklijke Philips N.V., Canon Medical Systems Corporation, Siemens Healthineers AG, Hitachi, Ltd., Samsung Electronics , Ltd., and FUJIFILM Holdings Corporation, Esaote S.p.A., Mindray Medical International Ltd., Shimadzu Corporation, Analogic Corporation, Carestream, Hologic, Mobisnate, and Chison Medical Imaging
Global Ultrasound Systems Market: Segmentation
The global Ultrasound Systems market is primarily segmented into product type, nature, end user, distribution channel and region. This report offers historical data points and forecasts and revenue growth at a global, regional, and country level, and provides analysis, industry trends, and consumption pattern details for each region, major country, and segment from 2023 to 2032. The market report includes industry trends, drivers, restraints, opportunities, threats, market strategies, segment revenue, and market share contribution by each regional and country market. In addition, the report offers industry analysis and competitive landscape, company financials, and impact analysis.
The report includes a detailed view of the global Ultrasound Systems market, along with changing dynamics and trends, scenarios, detailed market and regional segmentation, regional landscape, analysis and evaluation, major investments, product offerings, product launches, and details of historical, current, and projected revenues. For this study has segmented the global market based on different segments as follows.
Technology Outlook (Revenue, USD Billion; 2023 – 2032)
- Diagnostic Ultrasound
- 2D Ultrasound
- 3D & 4D Ultrasound
- Doppler Ultrasound
- Therapeutic Ultrasound
- High-Intensity Focused Ultrasound (HIFU)
- Extracorporeal Shockwave Lithotripsy (ESWL)
Device Display Outlook (Revenue, USD Billion; 2023 – 2032)
- Colour Ultrasound
- B/W Ultrasound
Portability Outlook (Revenue, USD Billion; 2023 – 2032)
- Trolley/Cart-based Ultrasound Systems
- Compact/Handheld Ultrasound Systems
- Point-of-care (PoC) Ultrasound Systems
Application Outlook (Revenue, USD Billion; 2023 – 2032)
- Radiology/General Imaging
- Obstetrics/Gynaecology
- Cardiology
- Urology
- Vascular
- Orthopaedic and Musculoskeletal
- Pain Management
- Others
End User Outlook (Revenue, USD Billion; 2023 – 2032)
- Hospitals
- Surgical Centres
- Diagnostic Centres
- Maternity Centres
- Ambulatory Care Centres
- Research and Academia
- Other
Regional Outlook (Revenue, USD Billion; 2023 – 2032)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East & Africa
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