Ultrasound Device Market, Size, Share, Global Forecast 2024-2030, Industry Trends, Growth, Insight, Top Companies Analysis

Ultrasound Device Market Outlook

Global Ultrasound Devices Market is predicted to be valued at around US$ 12.92 Billion by 2030, from US$ 8.82 Billion in 2023. According to Renub Research worldwide ultrasound devices industry is predicted to increase at a CAGR of 5.61% from 2024 to 2030.

Ultrasound devices have grown in reputation within present-day healthcare, revolutionizing diagnostic abilities. Their non-invasive nature, real-time imaging, and lack of radiation make them imperative in obstetrics, cardiology, and various clinical fields. Advancements in technology have more suitable portability, enabling point-of-care applications and, in the long run, expediting diagnoses and enhancing patient results. The growing reliance on ultrasound reflects its versatility, cost-effectiveness, and safety, reaffirming its reputation as a pivotal device in the clinical landscape.

Ultrasound Devices Market Trends

The market reports rapid growth due to escalating rates of chronic diseases and the imperative for early detection. The World Health Organization reports that chronic ailments account for 74 percent of worldwide deaths, with cardiovascular diseases (17.9 Million) and cancer (9.3 Million) as primary contributors. With burgeoning numbers afflicted by situations like cardiovascular ailments, cancer, and diabetes, demand surges for precise diagnostic devices. Ultrasound devices are pivotal and famed for their precision, non-invasiveness, and ability for early anomaly detection. As healthcare systems prioritize preventative medicine, the necessity for ultrasound devices intensifies, fostering innovation and accessibility in diagnostic technology.

The global ultrasound devices market has a sizable opportunity with the upward push of point-of-care ultrasound (POCUS). POCUS makes ultrasound usage more available to a vast range of healthcare experts, democratizing it. It leads to faster tests and diagnostics, resulting in more rapid diagnoses and interventions, accordingly enhancing healthcare results. POCUS devices are transportable, easy to use, and ideal for remote or resource-restrained areas. They are compact, lightweight, and often battery-powered, making them usable even in challenging environments at the point of care. This enlargement of ultrasound services to underserved populations creates market opportunities.

Ultrasound technology is remodeling the healthcare enterprise. Advanced capabilities, including 3D/4D imaging, better portability, AI integration, and elastography, have revolutionized diagnostic competencies, improving patient care. This expanding landscape amplifies the market capacity as ultrasound becomes a vital diagnostic tool in various clinical scenarios. AI-powered algorithms enhance precision remedies by supporting data analysis for faster and more correct diagnoses. Moreover, North America accounts for a giant ultrasound device market proportion, with the US being the most vital contributor. This is anticipated to continue because of the increasing use of portable ultrasound machines in health centers and domestic care settings.

Diagnostics ultrasound devices are one of the most essential products in the global ultrasound device market

Diagnostics ultrasound devices are one of the cornerstone products in the global ultrasound device market because of their unprecedented versatility and application. Offering real-time imaging abilities without ionizing radiation, it plays a pivotal function in diagnosing numerous medical situations across multiple specialties. From obstetrics to cardiology and beyond, its non-invasive nature, portability, and cost-effectiveness make it indispensable. As healthcare focuses more on early detection and minimally invasive approaches, the diagnostics ultrasound device remains essential for progressed patient care and consequences.

Trolley/cart-based ultrasound devices are a noteworthy player in the global market

Trolley/Cart-based ultrasound devices command sizeable global market shares. This is attributed to their versatility and comprehensive capability. They provide advanced imaging competencies coupled with ergonomic designs and cater to many medical specialties. Their considerable size allows for more substantial processing power and a wider variety of functions than transportable alternatives, making them crucial in health facility settings. With the growing demand for accurate diagnostics and procedural guidance, trolley-based ultrasound devices remain the preferred choice, driving their dominance worldwide.

Color ultrasound devices capture a considerable part of the worldwide market

Color ultrasound devices claim a sizeable percentage of the worldwide market. This is owed to their quintessential role in diagnostic precision and flexibility. Overlaying color onto traditional grayscale images provides a more suitable visualization of blood flow and tissue perfusion, essential for assessing vascular conditions, cardiac function, and various pathologies. Color ultrasound devices are popular because they provide real-time, non-invasive vascular imaging. Their usefulness spans multiple clinical specialties and holds a vast global ultrasound device market proportion.

Radiology/general imaging are among the most substantial segments in the global ultrasound device market

Radiology/general imaging represents one of the dominant segments in the global ultrasound device market. This is because of its vast applicability and integral role in diagnostic medicine. Ultrasound's non-invasive nature, actual-time imaging capabilities, and absence of ionizing radiation make it a preferred choice for various diagnostic methods, from assessing abdominal organs to guiding interventional approaches. Ultrasound devices are in high demand in radiology and general imaging because healthcare structures are aware of early detection and minimally invasive strategies. These devices remain a cornerstone in present-day medical exercise and dominate the ultrasound device market.

Hospitals are one of the significant contributors to the global ultrasound device market

Hospitals constitute among the leading segments in the global ultrasound device market. This is attributed to their high patient throughput and numerous diagnostic needs. The need remains always sturdy, with ultrasound devices vital for diverse scientific specialties in health center settings, including obstetrics, cardiology, and emergency care. Hospitals frequently have large budgets, permitting them to invest in advanced ultrasound technologies, further solidifying their dominance in the ultrasound device market.

United States might lead the global ultrasound devices market

The United States maintains a leading section in the global ultrasound device market. This is because of an in-depth and technologically advanced healthcare system. Coupled with high healthcare expenditures, the demand for present-day diagnostic tools like ultrasound remains constantly high. Also, intense research and improvement surroundings foster innovation, driving the introduction of recent ultrasound technology. Furthermore, the country's growing older population and persistent diseases contribute to sustained demand. Regulatory frameworks promote patient safety and technological improvements and bolster market increase, solidifying the country's position as a crucial worldwide ultrasound device market player.

Ultrasound Companies Market News

The companies leading in the global ultrasound device market are GE Healthcare, Siemens Healthcare, Philips, Canon INC., Fujifilm Holdings Corporation, Samsung Medison Co. Ltd. (Samsung Electronics Co. Ltd.), and Hitachi Ltd.

• In February 2023 - GE Healthcare announced that they had signed a contract to obtain Caption Health, Inc., a privately held company that provides AI-powered health services. The company's medical devices aid in early disease diagnosis, and their AI technology helps with ultrasound scanning.
• In March 2023 - Siemens Healthineers unveiled the latest version of its Acuson Sequoia Flagship ultrasound devices at the 2023 European Congress of Radiology in Vienna.

By Products –

1.    Diagnostic Ultrasound Systems
2.    Therapeutic Ultrasound Systems

By Portability –

1.    Trolley/Cart-based Ultrasound Devices
2.    Compact/Handheld Ultrasound Devices

By Application –

1.    Radiology/General Imaging
2.    Cardiology
3.    Gynecology
4.    Vascular
5.    Urology
6.    Others

By Display Type –

1.    Color Ultrasound Devices
2.    Black & White (B/W) Ultrasound Devices

By End-Users –

1.    Hospitals
2.    Surgical Centers
3.    Diagnostic Centers
4.    Maternity Centers
5.    Ambulatory Care Centers
6.    Academic Institutions

By Country –

1.    North America

1.1    United States
1.2    Canada

2.    Europe

2.1    France
2.2    Germany
2.3    Italy
2.4    Spain
2.5    United Kingdom
2.6    Belgium
2.7    Netherlands
2.8    Turkey

3.    Asia Pacific

3.1    China
3.2    Japan
3.3    India
3.4    South Korea
3.5    Thailand
3.6    Malaysia
3.7    Indonesia
3.8    Australia
3.9    New Zealand

4.    Latin America

4.1    Brazil
4.2    Mexico
4.3    Argentina

5.    Middle East & Africa

5.1    Saudi Arabia
5.2    UAE
5.3    South Africa

All the Key players have been covered from 3 Viewpoints:

•    Overview
•    Recent Development
•    Revenue Analysis

Company Analysis:

1.    GE Healthcare
2.    Siemens Healthcare
3.    Philips
4.    Canon INC.
5.    Fujifilm Holdings Corporation
6.    Samsung Medison Co. Ltd. (Samsung Electronics Co. Ltd.)
7.    Hitachi Ltd.

Report Details: