The Global Ultrasound Devices Market was valued at USD 11.5 Billion in 2023 and is estimated to reach USD 15.32 Billion by 2032, growing at a CAGR of 4.1 % from 2024 to 2033.  

Scope of the market:

Ultrasound devices are highly developed medical imaging tools that are used for non-invasive views of internal body parts known as sonography equipment or ultrasound machines.  This machine allows a real-time image of organs by using high-frequency sound waves which are above the human hearing capacity.

Ultrasound devices emit sound waves and receive measuring echoes while returning crucial diagnostics data to medical practitioners. This is used in cardiology, gynaecology, and radiology etc., Furthermore, ultrasound devices are used to monitor the foetus development in pregnancy and direct surgical treatment. This technology helps in diagnosing various chronic diseases affecting various parts of the body, which is one of the safest non-invasive techniques.

The increasing demand for advanced ultrasound devices in different fields is the driving factor. Moreover, the growing number of product launches and technological development of applications such as cardiology, vascular, and others.

Economic Impact of Covid-19:

The analysis of the COVID-19 recovery trajectory provides an overview of the main strategies that industries are implementing to respond to and recover from the economic crisis. It also focuses on the post-pandemic and pre-pandemic era of the Global Ultrasound Devices Market through PEST analysis, SWOT, Quantitative and Qualitative analysis, Attractive analysis, and DROs.

Key Players:

• GE Healthcare
• Canon Medical Systems
• Samsung Medison Co. Ltd
• FUJIFILM SonoSite, Inc.
• ESAOTE SPA
• Hitachi
• Hologic Inc
• Siemens Healthineers
• Mindray Medical Systems Corporation
• Fukuda Denshi
• Analogic Corporation
• Terason
• Analogic Corporation
• Trivitron Healthcare
• BenQ Medical technology
• Lumibird Medical
• Medgyn Products Inc,
• Others

The above key players in the Global Ultrasound Devices Market can be changed according to the client’s requirements.

Moreover, the key players aim towards expansion, joint ventures, collaboration, mergers, and acquisitions to advance capabilities in Ultrasound devices.

Recent Developments in Global Ultrasound Devices Market.

In January 2024, Canon Medical Systems Corporation and Olympus Corporation announced that they have an agreement to collaborate on Endoscopic Ultrasound Systems. Both giants are focusing on technological advancement and enhancing diagnostics performance in the EUS field with plans to expand in Japan and Europe.

In 2023, Ge Healthcare received a USD 44 Million grant from the Bill & Melinda Gates Foundation and signed a separate USD 44 Million contract with the Biomedical Advanced Research and Development Authority to develop AI-augmented ultrasound technology for clinicians.

In 2023 July, Japan: Canon Medical announced the availability of its 2 latest premium compact ultrasound systems, viz, Aplio Flex and Aplio Go.

Global Ultrasound Devices Market Key Benefits:

1. The report provides information regarding key drivers, restraints, and opportunities with impact analysis.
2. Quantitative and Qualitative analysis of the current market.
3. Estimations for the forecast period 2032.
4. Historical data and forecast data.
5. Recent developments and trends in the market.   
6. Market share of the market players, company profiles, SWOT analysis, and competitive landscape.
7. Covid-19 Impact analysis

Global Ultrasound Devices Market Segmentation:

By Technology:

• Diagnostics Ultrasound Devices
• 2D Ultrasound
• 3D& 4D Ultrasound
• Doppler Ultrasound
• Therapeutics Ultrasound Devices
• Extracorporeal Shockwave Lithotripsy
• High- intensity intensity-focused ultrasound

By Type:

• Stationery Ultrasound
• Portable Ultrasound

By Portability:

• Car/Trolley
• Handheld

By Application:

• Cardiology
• Gynaecology
• Vascular
• Urology
• Radiology
• Critical Care
• Others

By End User:

• Hospitals
• Diagnostics Centre
• Maternity Centres
• Surgical Centres
• Others

Based on Region:

Asia-Pacific

• Japan
• China
• India
• Australia
• New Zealand
• Rest of Asia-Pacific

 

North America

• US
• Canada
• Mexico

Europe

• Germany
• France
• Italy    
• Spain
• UK
• Rest of Europe

The rest of the World

Each of the market segments has been analyzed in detail for market trends, recent trends and developments, drivers, restraints, opportunities, and competitive analysis.

Research Scope:

Report Scope	Details
Base Year	2023
Historical Years	2019 to 2022
Forecast Years	2024 to 2033
Market Size 2023	USD 11.5 BN
Market Revenue 2033	USD 15.32 BN
Growth Rate 2024- 2033	4.1 %
Report Coverage	Trends, SWOT Analysis, Competitive Landscape, DROs, Revenue Forecast, PEST Analysis.
Segments Covered	Technology, Type, Portability, Application, End-User, Region
Companies Mentioned	GE Healthcare, Canon Medical Systems, Samsung Medison Co. Ltd, FUJIFILM SonoSite, Inc., ESAOTE SPA, Hitachi, Hologic Inc, Siemens Healthineers, Mindray Medical Systems Corporation, Fukuda Denshi, Analogic Corporation, Terason, Analogic Corporation, Trivitron Healthcare, BenQ, Medical technology, Lumibird Medical, Medgyn Products Inc,
Customization	Yes

 

Regional Analysis:

North America showing its dominance over other region due to prevalence of chronic disease among the geriatric population is driving the ultrasound devices market in this region. Increasing expenditure on healthcare, understanding different ways of diagnosis and increasing number of cancer cases are projected to drive the Ultrasound Devices Market.

Europe had the largest share of sales revenue on 2023 around 49%. The healthcare expenditure across countries like Germany, UK, Spain France, expansion of ultrasound clinical application and early commercialization are boosting this market to grow in this region.

Asia Pacific is estimated to growth with the fastest CAGR, due to increase in demand for better imaging devices. Furthermore, the giant players are investing in the market, adopting various strategies to strengthen the presence in this region.  Increasing funds of government in research and development in countries, low research cost and rapidly growing economies are expected to propel growth.

Key questions answered by this report.

1. Top market players contributing to the revenue?
2. Trending strategies by the players?
3. Which region will be the leading one in the forecast period?
4. Factors that drive the Global Ultrasound Devices Market?
5. Which factors will affect the Global Ultrasound Devices Market?
6. How Covid-19 pandemic impacted the growth of the Global Ultrasound Devices Market?
7. Which Segment accounted for the Global Ultrasound Devices Market shares?

Frequently Asked Questions (FAQ) :