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.
Ultrasound Market Overview
The market overview focuses on analyzing the dynamics of the Ultrasound industry, including its key players and market rivalry. The report provides revenue forecasts for the industry at the global, regional, and segment levels, with a particular emphasis on sales forecasting by segment and region. This comprehensive analysis allows for a detailed understanding of the market's current state and future trends, providing valuable insights for industry stakeholders.
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Ultrasound Market Report Scope and Research Methodology
The report on Ultrasound Market provides an in-depth analysis of the industry. Key highlights of the report include the market size and the growth rate. Insights of the report covers the drivers, restraints, challenges & opportunities for Ultrasound market growth. A detailed PESTEL analysis is also included in the report. The report covers a thorough regional analysis of the Ultrasound industry at local, regional and global level. Segment wise marker share estimation & Industry potential is also covered.
The Ultrasound Market was analysed by region, revenue, financial status, portfolio, technological advancement adopted, and mergers and acquisitions. The new entrants & existing players in Ultrasound market were researched for growth prospects and future business outlooks. The analysis acts as a guide for stakeholders, investors, market players and followers and new entrants with an overall view of the Ultrasound market for formulating investment approaches and marketing tactics. Bottom-up approach was used to estimate the Ultrasound market size.
Ultrasound Market Regional Insights
The report provides a comprehensive examination of the factors driving growth, constraints, future prospects, and competitive landscape across all regions. The market is segmented by region into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. Additionally, the report identifies the top countries in each region and provides market forecasts for each one..
Ultrasound Market Segmentation
With a 72% market share, the Diagnostic Ultrasound devices category leads the industry in terms of technology. 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. The use of diagnostic ultrasonography is typically regarded as safe in the absence of reasonable, verified evidence of deleterious effects in humans. However, considering how quickly technology is developing, it is possible that negative effects caused by ultrasound could develop in the future. While there may not always be a need to worry, prudent use is justified.
The Radiology/General Imaging Segment, which dominated the market by Application in 2022, is anticipated to continue to rule the market with a 29% share during the forecast period. A wide range of scans, including those of the abdomen, musculoskeletal system, small parts, urology, liver, thyroid, scrotum, bladder, pancreas, kidneys, spleen, and gallbladder, are all included in general imaging, which is less expensive than other applications. The prevalence of cardiovascular disorders (CVD) is increasing globally, and as a result, the cardiology category is anticipated to expand at a CAGR of about 5.1% over the course of the projected period. For instance, the WHO reports that CVDs account for 17.9 million fatalities yearly, making them the leading cause of death worldwide.
The Hospital end-user category accounted for the largest revenue share of over 39.5% in 2022 and is anticipated to continue dominating the ultrasound device market with the highest CAGR over the course of the forecast period. Two elements that have contributed to the segment's growth are the widespread use of ultrasound technology in medical settings and the rise in people seeking care for a variety of lifestyle-related illnesses. For instance, in 2022 Philips struck a multi-year arrangement to help one of China's top hospitals, Zhejiang University's First Affiliated Hospital, expand and advance. This contract covers systems including ultrasonography, image-guided therapy, monitoring analytics, and therapeutic care systems that combine clinical research and education.
Ultrasound Market Key Players
• GE Healthcare (US)
• Hologic, Inc (US)
• Integra Medical Systems LLC (US)
• Analogic Corporation (US)
• Carestream Health (US)
• Medgyn Products, Inc (US)
• United Imaging Healthcare Co., Ltd. (US)
• Clarius Mobile Health (Canada)
• Neusoft Corporation (China)
• SonoScape Medical Corp. (China)
• Mindray Medical International Limited (China)
• Chison Medical Technologies Co., Ltd. (China)
• CANON MEDICAL SYSTEMS CORPORATION (Japan)
• Hitachi Ltd. (Japan)
• FUJIFILM Holdings Corporation (Japan)
• Konica Minolta, Inc (Japan)
• Samsung Medison Co., Ltd. (South Korea)
• CURA Healthcare (India)
• Siemens Healthcare (Germany)
• Esaote SpA (Italy)
• Koninklijke Philips N.V. (Netherlands)
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Key questions answered in the Ultrasound Market are:
What is Ultrasound ?
What are the factors driving the Ultrasound Market growth?
What are the factors are limiting the Ultrasound Market growth?
What was the Ultrasound market size in 2021?
Which trends are expected to generate additional revenue for the Ultrasound market growth?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Ultrasound Market?
What growth strategies are the players considering to increase their foothold in the Ultrasound Market?
Who held the largest market share in the Ultrasound Market?
Key Offerings:
Past Market Size and Competitive Landscape (2018 to 2021)
Past Pricing and price curve by region (2018 to 2021)
Market Size, Share, Size & Forecast by different segment | 2022−2029
Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation – A detailed analysis by segment with their sub-segments and Region
Competitive Landscape – Profiles of selected key players by region from a strategic perspective
Competitive landscape – Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER’s analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
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