Ultrasound Devices Market Growth, Size, Trends, Revenue, Demand, Competition and Challenges

Ultrasound Devices Market Size- By Device Display Type, By Product, By Application, By Device Portability- Regional Outlook, Competitive Strategies and Segment Forecast to 2033

Ultrasound Devices Market Size- By Device Display Type, By Product, By Application, By Device Portability- Regional Outlook, Competitive Strategies and Segment Forecast to 2033

Published: Jul 2023 Report ID: MEDE2319 Pages: 1 - 244 Formats*:     
Category : Medical Devices
Ultrasound Devices Market Introduction and Overview 

According to SPER Market Research, the Global Ultrasound Devices Market is estimated to reach USD 11.09 billion by 2033 with a CAGR of 5.54 %.

The report includes an in-depth analysis of the Global Ultrasound Devices Market, including market size and trends, product mix, distribution channels, and supplier analysis. Ultrasound devices are advanced medical equipment that are utilized for diagnostic imaging in a variety of healthcare settings. They create real-time photographs of inside body structures by using high-frequency sound waves. These non-invasive, radiation-free instruments are especially useful for observing soft tissues, organs, blood flow, and even developing fetuses during pregnancy. Ultrasound technology works by transmitting sound waves into the body and hearing echoes returned back from various tissues. The data collected is then processed to provide detailed images that assist physicians in diagnosing and monitoring medical issues.

  • Increasing awareness and adoption: Both healthcare professionals and patients are becoming more aware of the benefits of ultrasound imaging. Physicians are beginning to recognize its diagnostic accuracy as well as the benefit of avoiding ionizing radiation. This improved awareness has resulted in a higher rate of ultrasound device adoption across a variety of medical disciplines.
  • Integration and connectivity of technology: The integration of ultrasound devices with electronic health records (EHRs) and other healthcare IT systems has expedited workflow and improved diagnostic efficiency. The capacity to electronically transmit photos and reports has improved patient care and led to market growth.
Ultrasound Devices Market
Market Opportunities and Challenges
The ultrasound equipment market offers several opportunities as well as challenges. On the one hand, because of their non-invasive nature, portability, and adaptability in diagnosing numerous medical disorders, global demand for ultrasound technologies is rapidly expanding. These instruments are commonly utilized in obstetrics, cardiology, urology, and other specialties, making them an important tool in modern healthcare. The rising frequency of chronic diseases, combined with an aging population, fuels demand for ultrasound devices, which provide a safe and cost-effective imaging solution. Furthermore, advances in ultrasound technology are opening up new potential for business expansion. Machine learning and artificial intelligence advancements are increasing ultrasound gadget capabilities, allowing for faster and more accurate diagnosis.

However, the market for ultrasound devices faces substantial challenges. A major challenge is the expensive cost of modern ultrasound equipment. Despite the fact that technology has gotten more accessible in recent years, cutting-edge technologies with complex capabilities can still be prohibitively expensive for many healthcare facilities, particularly in developing countries. This pricing barrier could stymie widespread adoption of cutting-edge ultrasound technologies, limiting access to high-quality healthcare in some locations. Alternative imaging methods, such as magnetic resonance imaging (MRI) and computed tomography (CT) scans, pose another issue. While ultrasound instruments have significant advantages over other imaging modalities, such as being radiation-free and more portable, they may not always provide the same level of information.

Ultrasound Devices Market


Market Competitive Landscape
The ultrasound devices market competitive landscape is characterized by fierce rivalry among prominent players and a varied spectrum of competitors. Established medical device manufacturers coexist with rising enterprises and startups looking to capitalize on the expanding need for ultrasound technology. Some of the key players are General Electric (GE), Philips Healthcare, Siemens Healthineers, and Canon Medical Systems Corporation, control a sizable proportion of the market.

Scope of the Report:
 Report Metric Details
 Market size available for years 2019-2033
 Base year considered 2022
 Forecast period 2023-2033
 Segments coveredBy Device Display Type, By Product, By Application, By Device Portability
 Regions coveredAsia-Pacific, Europe, Middle East and Africa, North America, Latin America
 Companies CoveredAnalogic Corporation, ESAOTE SPA, FUJIFILM CORPORATION, GENERAL ELECTRIC COMPANY, HITACHI, LTD., KONINKLIJKE PHILIPS N.V., MINDRAY MEDICAL INTERNATIONAL LIMITED, Samsung Medison Co. Ltd. (a subsidiary of Samsung Electronics Co. Ltd.), SIEMENS AG, and TOSHIBA CORPORATION
COVID-19 Impact on Global Ultrasound Devices Market
The global ultrasound device market was significantly impacted by the COVID-19 epidemic. Many healthcare facilities postponed or canceled non-urgent medical treatments during the early stages of the pandemic, resulting in a temporary drop in demand for ultrasound devices. However, portable and point-of-care ultrasound machines were in high demand because they allowed for speedy and safe bedside exams, particularly in emergency rooms and critical care units. Ultrasound was also used to diagnose and monitor COVID-19 patients, particularly those with severe respiratory symptoms. Lung ultrasound became a significant technique in examining virus-caused lung abnormalities, assisting in illness diagnosis and management.

Key Target Audience:
  • Healthcare Facilities
  • Medical Professionals
  • Medical Equipment Distributors and Suppliers
  • Private Healthcare Practices
Our in-depth analysis of the Ultrasound Devices Market includes the following segments:
By Device Display Type:
  • Color Ultrasound Devices
  • Black & White Ultrasound Devices
  • By Product Type:
  • Diagnostic Ultrasound Systems
  • Therapeutic Ultrasound Systems
  • By Application:
  • Cardiology
  • Obstetrics/Gynaecology
  • Radiology/General Imaging
  • Urology
  • Vascular
  • By Device Portability:
  • Trolley/Cart-Based Ultrasound Devices
  • Compact/Handheld Ultrasound Devices
  • Key Topics Covered in the Report:
    • Global Ultrasound Devices Market Size (FY’2023-FY’2033)
    • Description of Global Ultrasound Devices Market
    • Segmentation of Global Ultrasound Devices Market By Device Display Type (Color Ultrasound Devices, Black & White Ultrasound Devices)
    • Segmentation of Global Ultrasound Devices Market By Product Type (Diagnostic Ultrasound Systems, Therapeutic Ultrasound Systems)
    • Segmentation of Global Ultrasound Devices Market By Application (Cardiology, Obstetrics/Gynaecology, Radiology/General Imaging, Urology, Vascular, Others)
    • Segmentation of Global Ultrasound Devices Market By Device Portability (Trolley-Cart-Based Ultrasound Devices, Compact/Handheld Ultrasound Devices)
    • Statistical Snap of Global Ultrasound Devices Market
    • Expansion Analysis of Global Ultrasound Devices Market
    • Problems and Obstacles in Global Ultrasound Devices Market
    • Competitive Landscape in the Global Ultrasound Devices Market
    • Impact of COVID-19 and Demonetization on Global Ultrasound Devices Market
    • Details on Current Investment in Global Ultrasound Devices Market
    • Competitive Analysis of Global Ultrasound Devices Market
    • Prominent Players in the Global Ultrasound Devices Market
    • SWOT Analysis of Global Ultrasound Devices Market
    • Global Ultrasound Devices Market Future Outlook and Projections (FY’2023-FY’2033)
    • Recommendations from Analyst


    1. Introduction
    1.1. Scope of the report
    1.2. Market segment analysis

    2. Research Methodology
    2.1. Research data source
    2.1.1. Secondary Data
    2.1.2. Primary Data
    2.1.3. SPER’s internal database
    2.1.4. Premium insight from KOL’s
    2.2. Market size estimation
    2.2.1. Top-down and Bottom-up approach
    2.3. Data triangulation

    3. Executive Summary

    4. Market Dynamics
    4.1. Driver, Restraint, Opportunity and Challenges analysis
    4.1.1. Drivers
    4.1.2. Restraints
    4.1.3. Opportunities
    4.1.4. Challenges
    4.2. COVID-19 Impacts of the Global Ultrasound Devices Market

    5. Market variable and outlook
    5.1. SWOT Analysis
    5.1.1. Strengths
    5.1.2. Weaknesses
    5.1.3. Opportunities
    5.1.4. Threats
    5.2. PESTEL Analysis
    5.2.1. Political Landscape
    5.2.2. Economic Landscape
    5.2.3. Social Landscape
    5.2.4. Technological Landscape
    5.2.5. Environmental Landscape
    5.2.6. Legal Landscape
    5.3. PORTER’s Five Forces 
    5.3.1. Bargaining power of suppliers
    5.3.2. Bargaining power of buyers
    5.3.3. Threat of Substitute
    5.3.4. Threat of new entrant
    5.3.5. Competitive rivalry
    5.4. Heat Map Analysis

    6. Competitive Landscape
    6.1. Global Ultrasound Devices Market Manufacturing Base Distribution, Sales Area, Product Type 
    6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Ultrasound Devices Market

    7. Global Ultrasound Devices Market, By Device Display Type (USD Million)
    7.1. Global Ultrasound Devices Market Value Share and Forecast, By Device Display Type, 2023-2033
    7.2. Color Ultrasound Devices
    7.3. Black & White Ultrasound Devices

    8. Global Ultrasound Devices Market, By Product Type (USD Million)
    8.1. Global Ultrasound Devices Market Value Share and Forecast, By Product Type, 2023-2033
    8.2. Diagnostic Ultrasound Systems
    8.2.1. 2D Imaging Systems
    8.2.2. 3D & 4D Imaging Systems
    8.2.3. Doppler Imaging
    8.3. Therapeutic Ultrasound Systems
    8.3.1. High-Intensity Focused Ultrasound (HIFU)
    8.3.2. Extracorporeal Shockwave Lithotripsy (ESWL)

    9. Global Ultrasound Devices Market, By Application (USD Million)
    9.1. Glbal Ultrasound Devices Market Value Share and Forecast, By Application, 2023-2033
    9.2. Cardiology
    9.3. Obstetrics/Gynaecology
    9.4. Radiology/General Imaging
    9.5. Urology
    9.6. Vascular
    9.7. Others

    10. Global Ultrasound Devices Market, By Device Portability (USD Million)
    10.1. Global Ultrasound Devices Market Value Share and Forecast, By Device Portability, 2023-2033
    10.2. Trolley/Cart-Based Ultrasound Devices
    10.3. Compact/Handheld Ultrasound Devices

    11. Global Ultrasound Devices Market Forecast, 2019-2033 (USD Million)
    11.1. Global Ultrasound Devices Market Size and Market Share

    12. Global Ultrasound Devices Market, By Device Display Type, 2019-2033 (USD Million)
    12.1. Global Ultrasound Devices Market Size and Market Share By Device Display Type (2019-2026)
    12.2. Global Ultrasound Devices Market Size and Market Share By Device Display Type (2027-2033)

    13. Global Ultrasound Devices Market, By Product Type, 2019-2033 (USD Million)
    13.1. Global Ultrasound Devices Market Size and Market Share By Product Type (2019-2026)
    13.2. Global Ultrasound Devices Market Size and Market Share By Product Type (2027-2033)

    14. Global Ultrasound Devices Market, By Application, 2019-2033 (USD Million)
    14.1. Global Ultrasound Devices Market Size and Market Share By Application (2019-2026)
    14.2. Global Ultrasound Devices Market Size and Market Share By Application (2027-2033)

    15. Global Ultrasound Devices Market, By Device Portability , 2019-2033 (USD Million)
    15.1. Global Ultrasound Devices Market Size and Market Share By Device Portability (2019-2026)
    15.2. Global Ultrasound Devices Market Size and Market Share By Device Portability (2027-2033)

    16. Global Ultrasound Devices Market, By Region, 2019-2033 (USD Million)
    16.1. Global Ultrasound Devices Market Size and Market Share By Region (2019-2026)
    16.2. Global Ultrasound Devices Market Size and Market Share By Region (2027-2033)
    16.3. Asia-Pacific
    16.3.1. Australia
    16.3.2. China
    16.3.3. India
    16.3.4. Japan
    16.3.5. South Korea
    16.3.6. Rest of Asia-Pacific
    16.4. Europe
    16.4.1. France
    16.4.2. Germany
    16.4.3. Italy
    16.4.4. Spain
    16.4.5. United Kingdom
    16.4.6. Rest of Europe
    16.5. Middle East and Africa
    16.5.1. Kingdom of Saudi Arabia 
    16.5.2. United Arab Emirates
    16.5.3. Rest of Middle East & Africa
    16.6. North America
    16.6.1. Canada
    16.6.2. Mexico
    16.6.3. United States
    16.7. Latin America
    16.7.1. Argentina
    16.7.2. Brazil
    16.7.3. Rest of Latin America

    17. Company Profile
    17.1. Analogic Corporation
    17.1.1. Company details
    17.1.2. Financial outlook
    17.1.3. Product summary 
    17.1.4. Recent developments
    17.2. ESAOTE SPA
    17.2.1. Company details
    17.2.2. Financial outlook
    17.2.3. Product summary 
    17.2.4. Recent developments
    17.3. FUJIFILM CORPORATION
    17.3.1. Company details
    17.3.2. Financial outlook
    17.3.3. Product summary 
    17.3.4. Recent developments
    17.4. GENERAL ELECTRIC COMPANY
    17.4.1. Company details
    17.4.2. Financial outlook
    17.4.3. Product summary 
    17.4.4. Recent developments
    17.5. HITACHI, LTD.
    17.5.1. Company details
    17.5.2. Financial outlook
    17.5.3. Product summary 
    17.5.4. Recent developments
    17.6. KONINKLIJKE PHILIPS N.V.
    17.6.1. Company details
    17.6.2. Financial outlook
    17.6.3. Product summary 
    17.6.4. Recent developments
    17.7. MINDRAY MEDICAL INTERNATIONAL LIMITED
    17.7.1. Company details
    17.7.2. Financial outlook
    17.7.3. Product summary 
    17.7.4. Recent developments
    17.8. Samsung Medison Co. Ltd. (a subsidiary of Samsung Electronics Co. Ltd.)
    17.8.1. Company details
    17.8.2. Financial outlook
    17.8.3. Product summary 
    17.8.4. Recent developments
    17.9. SIEMENS AG
    17.9.1. Company details
    17.9.2. Financial outlook
    17.9.3. Product summary 
    17.9.4. Recent developments
    17.10. TOSHIBA CORPORATION
    17.10.1. Company details
    17.10.2. Financial outlook
    17.10.3. Product summary 
    17.10.4. Recent developments
    17.11. Others
     
    18. List of Abbreviations

    19. Reference Links

    20. Conclusion

    21. Research Scope

    SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.

    The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings.  The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.

    SPER-Methodology-1

    SPER-Methodology-2

    SPER-Methodology-3


    Frequently Asked Questions About This Report
    Ultrasound Devices Market is projected to reach USD 11.09 billion by 2033, growing at a CAGR of 5.54% during the forecast period.
    Ultrasound Devices Market grew in market size from 2023. The Market is expected to reach USD 11.09 billion by 2033, at a CAGR of 5.54% during the forecast period.
    Ultrasound Devices Market CAGR of 5.54% during the forecast period.
    You can get the sample pages by clicking the link -Click Here
    Ultrasound Devices Market size is USD 11.09 billion from 2023 to 2033.
    Ultrasound Devices Market Segment is Covered By Device Display Type, By Product, By Application, By Device Portability
    The North America region is anticipated to have the highest market share in Ultrasound Devices Market.
    The key players in the market include Companies Covered Analogic Corporation, ESAOTE SPA, FUJIFILM CORPORATION, GENERAL ELECTRIC COMPANY, HITACHI, LTD., KONINKLIJKE PHILIPS N.V., MINDRAY MEDICAL INTERNATIONAL LIMITED, Samsung Medison Co. Ltd. (a subsidiary of Samsung Electronics Co. Ltd.), SIEMENS AG, and TOSHIBA CORPORATIO
    The rising frequency of chronic diseases, combined with an aging population, fuels demand for ultrasound devices, which provide a safe and cost-effective imaging solution.
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