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
| 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.
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.
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 covered | By Device Display Type, By Product, By Application, By Device Portability |
| Regions covered | Asia-Pacific, Europe, Middle East and Africa, North America, Latin America |
| 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 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:
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| By Product Type: |
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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 report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Global Ultrasound Devices Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Ultrasound Devices Market Manufacturing Base Distribution, Sales Area, Product Type6.2. 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, 2023-20337.2. Color Ultrasound Devices7.3. 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, 2023-20338.2. Diagnostic Ultrasound Systems8.2.1. 2D Imaging Systems8.2.2. 3D & 4D Imaging Systems8.2.3. Doppler Imaging8.3. Therapeutic Ultrasound Systems8.3.1. 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, 2023-20339.2. Cardiology9.3. Obstetrics/Gynaecology9.4. Radiology/General Imaging9.5. Urology9.6. Vascular9.7. Others
10. Global Ultrasound Devices Market, By Device Portability (USD Million)
10.1. Global Ultrasound Devices Market Value Share and Forecast, By Device Portability, 2023-203310.2. Trolley/Cart-Based Ultrasound Devices10.3. 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-Pacific16.3.1. Australia16.3.2. China16.3.3. India16.3.4. Japan16.3.5. South Korea16.3.6. Rest of Asia-Pacific16.4. Europe16.4.1. France16.4.2. Germany16.4.3. Italy16.4.4. Spain16.4.5. United Kingdom16.4.6. Rest of Europe16.5. Middle East and Africa16.5.1. Kingdom of Saudi Arabia16.5.2. United Arab Emirates16.5.3. Rest of Middle East & Africa16.6. North America16.6.1. Canada16.6.2. Mexico16.6.3. United States16.7. Latin America16.7.1. Argentina16.7.2. Brazil16.7.3. Rest of Latin America
17. Company Profile
17.1. Analogic Corporation17.1.1. Company details17.1.2. Financial outlook17.1.3. Product summary17.1.4. Recent developments17.2. ESAOTE SPA17.2.1. Company details17.2.2. Financial outlook17.2.3. Product summary17.2.4. Recent developments17.3. FUJIFILM CORPORATION17.3.1. Company details17.3.2. Financial outlook17.3.3. Product summary17.3.4. Recent developments17.4. GENERAL ELECTRIC COMPANY17.4.1. Company details17.4.2. Financial outlook17.4.3. Product summary17.4.4. Recent developments17.5. HITACHI, LTD.17.5.1. Company details17.5.2. Financial outlook17.5.3. Product summary17.5.4. Recent developments17.6. KONINKLIJKE PHILIPS N.V.17.6.1. Company details17.6.2. Financial outlook17.6.3. Product summary17.6.4. Recent developments17.7. MINDRAY MEDICAL INTERNATIONAL LIMITED17.7.1. Company details17.7.2. Financial outlook17.7.3. Product summary17.7.4. Recent developments17.8. Samsung Medison Co. Ltd. (a subsidiary of Samsung Electronics Co. Ltd.)17.8.1. Company details17.8.2. Financial outlook17.8.3. Product summary17.8.4. Recent developments17.9. SIEMENS AG17.9.1. Company details17.9.2. Financial outlook17.9.3. Product summary17.9.4. Recent developments17.10. TOSHIBA CORPORATION17.10.1. Company details17.10.2. Financial outlook17.10.3. Product summary17.10.4. Recent developments17.11. 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.
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.
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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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