Global Ultrasound Devices Market, By Type (Diagnostic Ultrasound Devices and Therapeutic Ultrasound Devices), Scan Type (A-scan, B-scan, Combined Scan, Pachymeter, Ultrasound Bio-Microscopy (UBM), and Others), Imaging Modes (Black and White (B/W) and Color Doppler), Screen Types (Full HD, LCD, and Others), Connectivity (USB, Bluetooth, Ethernet, Dual-Band WiFi, and Others), Functionality (Touchscreen and Analogue), Probe Frequency (8MHZ, 10 MHZ, 12 MHZ, 15 MHZ, 20 MHZ, 50 MHZ, and Others), Device Portability (Trolley/Cart-Based and Compact/ Handheld), Application (Radiology/General Imaging, Women’s Health, Gastrointestinal (GI), Cardiovascular, Urology, Orthopaedic and Musculoskeletal, Pain Management, and Others), End User (Hospitals, Ambulatory Surgical Centers, Diagnostic Centers, Surgical Centers, Maternity Centers, Research and Academic Institutions, and Others), Distribution Channel (Direct Tenders, Retail Tender, and Third Party Distribution) - Industry Trends and Forecast to 2030.
Ultrasound Devices Market Analysis and Size
The increasing applications of advanced ultrasound devices in various medical fields are acting as the driver for the market growth. The major market players focus on various product launches and approvals during this crucial period. In addition, the rising awreness associated with early disease diagnosis and treatment methods also contributes to the rising demand for veterinary pain mangement.
The global ultrasound devices market is expected to grow significantly in the forecast period of 2023 to 2030. Data Bridge Market Research analyzes that the market is growing with a CAGR of 6.6% in the forecast period of 2023 to 2030 and is expected to reach USD 20,032,835.85 thousand by 2030. Growing prevalence of diseases associated with liver, pancreas, and bile ducts act as a driver for the global ultrasound devices market growth.
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Year
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2021 (Customizable 2015-2020)
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Quantitative Units
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Revenue in USD Thousand
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Segments Covered
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Type (Diagnostic Ultrasound Devices and Therapeutic Ultrasound Devices), Scan Type (A-scan, B-scan, Combined Scan, Pachymeter, Ultrasound Bio-Microscopy (UBM), and Others), Imaging Modes (Black and White (B/W) and Color Doppler), Screen Types (Full HD, LCD, and Others), Connectivity (USB, Bluetooth, Ethernet, Dual-Band WiFi, and Others), Functionality (Touchscreen and Analogue), Probe Frequency (8MHZ, 10 MHZ, 12 MHZ, 15 MHZ, 20 MHZ, 50 MHZ, and Others), Device Portability (Trolley/Cart-Based and Compact/ Handheld), Application (Radiology/General Imaging, Women’s Health, Gastrointestinal (GI), Cardiovascular, Urology, Orthopaedic and Musculoskeletal, Pain Management, and Others), End User (Hospitals, Ambulatory Surgical Centers, Diagnostic Centers, Surgical Centers, Maternity Centers, Research and Academic Institutions, and Others), Distribution Channel (Direct Tenders, Retail Tender, and Third Party Distribution)
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Countries Covered
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U.S., Mexico and Canada, Germany, France, U.K., Italy, Spain, Netherlands, Switzerland, Turkey, Russia, Austria, Poland, Hungary, Ireland, Norway, Lithuania, Rest of Europe, China, Japan, India, Australia, South Korea, Singapore, Malaysia, Thailand, Indonesia, Philippines, Vietnam, Rest of Asia-Pacific, Brazil, Argentina, Peru, Rest of South America, South Africa, Saudi Arabi, U.A.E., Egypt, Israel, Kuwait, and the Rest of the Middle East and Africa
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Market Players Covered
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Medgyn Products, Inc., SonoScape Medical Corp., Trivitron Healthcare, Narang Medical Limited, Telemed Ultrasound, Clarius, Canon Medical Systems Corporation, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Koninklijke Philips N.V., ESAOTE SPA, CHISON Medical Technologies Co., Ltd., EDAN Instruments, Inc., Hitachi Healthcare Americas, Konica Minolta, Inc., Lumibird Medical, BenQ Medical Technology, Lanmage, Shenzhen Ricso Technology Co., Ltd, Promed Technology Co., ALPINION MEDICAL SYSTEMS Co., Ltd, GE HealthCare, Hologic Inc, Seimens Healthineers AG, FUJIFILM Holdings Corporation, among others.
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Market Definition
Ultrasound devices are sophisticated medical imaging tools used for non-invasive visualisation of the internal components of the human body. They are also known as ultrasound machines or sonography equipment. To provide real-time, detailed images of organs, tissues, and blood flow, these devices use high-frequency sound waves that are normally above the human hearing range. Ultrasound equipment creates images by emitted sound waves and measuring the echoes as they return, which gives medical practitioners crucial diagnostic data. In several medical specialities, such as obstetrics and gynaecology, cardiology, radiology, and others, ultrasound equipment is widely used to evaluate and monitor diseases, direct surgical treatments, and track foetal development during pregnancy.
Global Ultrasound Devices Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Technological Advancements in Ultrasound Imaging Systems
Technological advancements are pivotal drivers propelling the global ultrasound devices market. With continuous innovation and breakthroughs in ultrasound technology, the market is experiencing a transformative shift. Advanced features such as 3D/4D imaging, enhanced portability, AI integration, and elastography are revolutionizing diagnostic capabilities and significantly improving patient care. These technological upgrades not only enhance the accuracy and efficiency of diagnostic procedures but also contribute to better treatment planning.
The evolving landscape of ultrasound technology is expanding its applications across various medical specialties beyond traditional domains, including musculoskeletal imaging, urology, and gastroenterology among others. This widening scope amplifies the market potential, as ultrasound becomes an indispensable diagnostic tool in a broader array of medical scenarios. The versatility of ultrasound devices allows healthcare professionals to cater to a more extensive patient base and address a wide range of medical conditions.
Furthermore, the seamless integration of artificial intelligence (AI) with ultrasound technology is a game-changer. AI-powered algorithms assist in data analysis, aiding clinicians in making quicker and more accurate diagnoses. This integration significantly elevates diagnostic efficiency and sets the stage for a future where precision medicine is further enhanced through AI assistance.
In addition, investments in research and development continue to fuel this technological surge, leading to the creation of cutting-edge ultrasound solutions. Future advancements, including novel contrast agents and improved transducer technologies, promise even higher levels of accuracy and imaging quality. These advancements position the global ultrasound devices market at the forefront of medical technology, attracting healthcare providers and institutions to invest in state-of-the-art ultrasound equipment. This is expected to drive the market growth.
- Increasing Applications of Advanced Ultrasound Devices in Multiple Fields
The increasing applications of advanced ultrasound devices in the fields of obstetrics and gynecology are serving as potent drivers for the global ultrasound devices market. Over recent years, ultrasound technology has seen remarkable progress, especially in the realm of women health. Advanced ultrasound devices offer high-resolution imaging, 3D/4D capabilities, and enhanced portability, providing healthcare professionals with a comprehensive toolkit for diagnostic and monitoring purposes in obstetrics and gynecology.
In obstetrics, these advanced ultrasound devices enable detailed visualization and monitoring of fetal development, aiding in the early detection of potential abnormalities and ensuring healthier outcomes for both the mother and the baby. The real-time imaging capabilities, coupled with improved accuracy coupled with computational algorithms and artificial intelligence, assist clinicians in making critical decisions during pregnancy, fostering a sense of confidence and trust among expectant parents.
Within gynecology, these devices facilitate precise evaluation and diagnosis of conditions such as ovarian cysts, fibroids, endometriosis, and various reproductive health disorders. The ability to conduct non-invasive procedures for assessing the female reproductive system translates into enhanced patient experiences and improved treatment planning. In addition, advanced ultrasound technologies enable early detection of gynecological cancers, contributing to higher survival rates and improved quality of life for patients. Moreover, Market players in the ultrasound industry offer a diverse array of ultrasound products tailored to meet the specific needs of gynecology.
Moreover, ultrasound devices are used in many areas besides obstetrics and gynecology. They are commonly used in cardiology to check the heart, in radiology to examine various parts of the body, and in sports medicine to assess muscle and joint injuries. In addition, ultrasound is used in monitoring and diagnosing conditions related to the liver, kidneys, and other organs. It is a versatile tool used across different medical fields for imaging and understanding the inside of the body.
Opportunity
- Increasing Adoption of POCUS (Point-of-Care Ultrasound)
The increasing adoption of point-of-care ultrasound (POCUS) is creating a substantial opportunity for the global ultrasound devices market. POCUS refers to the use of ultrasound at the bedside by healthcare practitioners to make immediate diagnostic and treatment decisions. Its portable nature and real-time imaging capabilities make it a valuable tool in various healthcare settings outside traditional radiology departments, such as emergency rooms, intensive care units, ambulances, and clinics.
One of the key opportunities arising from the growth of POCUS is the democratization of ultrasound usage. POCUS allows a broader range of healthcare professionals, beyond radiologists, to use ultrasound for quick assessments and diagnostics. Physicians, nurses, and other healthcare providers can promptly perform ultrasound examinations, enabling faster diagnoses and immediate interventions. This not only expedites patient care but also enhances healthcare outcomes.
In addition, the portability and ease of use of POCUS devices make them ideal for use in resource limited or remote areas where access to traditional imaging facilities may be limited. POCUS devices are compact, lightweight, and often battery-powered, enabling point-of-care use even in challenging environments. This extends the reach of ultrasound services to underserved populations, addressing unmet healthcare needs and improving overall healthcare accessibility. This is expected to create opportunities for the market growth.
Restraint/Challenge
- High Cost Associated with the Global Ultrasound Devices Market
The high cost associated with the global ultrasound devices market stands as a prominent restraint, impeding its widespread adoption and market growth. The substantial investment required for acquiring and maintaining ultrasound equipment poses a significant financial challenge for healthcare facilities, particularly in developing regions and smaller healthcare institutions. The initial purchase cost, ongoing maintenance, and training of medical professionals to operate these sophisticated devices contribute to the financial burden.
In addition, the cost of ultrasound procedures for patients can be a deterrent, impacting the overall demand for these services. Health insurance coverage may not always fully cover the expenses, leaving patients with out-of-pocket costs that can be a barrier, especially for individuals with limited financial means. This financial burden may lead to delays or avoidance of necessary ultrasound examinations, affecting timely diagnosis and patient care.
Furthermore, the high cost of ultrasound devices can limit their accessibility in resource constrained healthcare settings, where budget constraints are pronounced. Rural or underserved areas may lack the financial resources to invest in advanced ultrasound technology, restricting access to crucial diagnostic capabilities for a significant portion of the population.
Innovations and efforts to develop cost effective ultrasound solutions are underway to mitigate this challenge. The industry is actively exploring strategies to reduce the overall cost of ultrasound devices, making them more affordable and accessible without compromising on diagnostic accuracy and efficiency. In addition, collaborations, subsidies, and financing schemes aimed at assisting healthcare facilities in acquiring ultrasound equipment could alleviate the financial burden associated with adoption.
In conclusion, the high cost associated with ultrasound devices is a substantial obstacle, hindering market growth and limiting access to advanced diagnostic capabilities. Addressing this challenge through cost-effective innovations and improved financial assistance strategies is essential to enhance the accessibility and affordability of ultrasound technology, ultimately benefitting both healthcare providers and patients. This is expected to restrain the market growth.
Recent Developments
- In July 2023, Canon Medical Systems Corporation announced the launch of the Aplio flex and Aplio go, the most recent premium small ultrasound equipment. The new products provide exceptional maneuverability and clinical usability in a contemporary, elegant form. A new set of lightweight transducers with excellent usability and ergonomic design allows the user to operate comfortably and productively. Both items are appropriate for both stationary daily use and mobile use.
- In June 2023, Koninklijke Philips N.V. displayed their Ultrasound Compact 5500CV during the 2023 American Society of Echocardiography Event (ASE 2023, June 23–26, National Harbour, Maryland, U.S.). The next-generation system offers a single point of access to images and information, anytime, anywhere, to help improve clinical confidence and efficiency in diagnosing and treating cardiac disease. It brings the same exceptional image quality and echocardiography workflows in cart-based systems to a portable compact unit.
- In May 2023, CHISON Medical Technology Co., Ltd and Philips signed a cooperation agreement. The two parties are committed to offering domestic ultrasound equipment to Chinese customers for a wider range of care settings while focusing on local clinical needs. This will aid medical professionals in improving clinical diagnosis efficiency and work experience and support the high-quality growth of China's precision diagnosis and treatment.
- In January 2023, Esaote SPA launched its new premium ultrasound equipment, MyLabX90. The proprietary dual-layer eLed monitor by Barco and the revival of the XCrystal probe family are the starting points for the quality components that make up MyLabX90. These guarantee exceptional on-screen image display with a far higher contrast resolution than other product lines.
- In November 2022, Koninklijke Philips N.V. announced the global release of a next-generation tiny portable ultrasound system during the annual meeting of the Radiological Society of North America (RSNA). The new Compact 5000 Series from Philips seeks to make high-end cart-based ultrasound devices' diagnostic capabilities accessible to more people. The Compact 5000 series makes it easier for more patients to have their ultrasound exams done correctly the first time around because of its portability and versatility without sacrificing image quality or performance.
Global Ultrasound Devices Market Scope
The global ultrasound devices market is segmented into eleven notable segments based on type, scan type, imaging modes, screen types, connectivity, functionality, probe frequency, device portability, application, end user, and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
Type
- Diagnostic Ultrasound Devices
- Therapeutic Ultrasound Devices
On the basis of type, the market is segmented into diagnostic ultrasound devices and therapeutic ultrasound devices.
Scan Type
- A-Scan
- B-Scan
- Combined Scan
- Pachymeter
- Ultrasound Bio-Microscopy (UBM)
- Others
On the basis of scan type, the global ultrasound devices market is segmented into A-scan, B-scan, combined scan, pachymeter, ultrasound bio-microscopy (UBM), and others.
Imaging Modes
- Black and White (B/W)
- Color Doppler
On the basis of imaging modes, the market is segmented into black and white (B/W) and color doppler.
Screen Types
- Full HD
- LCD
- Others
On the basis of screen types, the market is segmented into full HD, LCD, and others.
Connectivity
- USB
- Bluetooth
- Ethernet
- Dual-Band WiFi
- Others
On the basis of connectivity, the market is segmented into USB, bluetooth, ethernet, dual-band wifi, and others.
Functionality
- Touchscreen
- Analogue
On the basis of functionality, the market is segmented into touchscreen and analogue.
Probe Frequency
- 8 MHZ
- 10 MHZ
- 12 MHZ
- 15 MHZ
- 20 MHZ
- 50 MHZ
- Others
On the basis of probe frequency, the market is segmented into 8MHZ, 10 MHZ, 12 MHZ, 15 MHZ, 20 MHZ, 50 MHZ, and others.
Device Portability
- Trolley/Cart-Based
- Compact/ Handheld
On the basis of device portability, the market is segmented into trolley/cart based and compact/ handheld.
Application
- Radiology/General Imaging
- Cardiovascular
- Women's Health
- Urology
- Orthopedic and Musculoskeletal
- Pain Management
- Gastrointestinal (GI)
- Others
On the basis of application, the market is segmented into radiology/general imaging, women’s health, gastrointestinal (GI), cardiovascular, urology, orthopedic and musculoskeletal, pain management, and others.
End User
- Hospitals
- Ambulatory Surgical Ceners
- Diagnostic Centers
- Maternity Centers
- Surgical Centers
- Research and Academic Institutes
- Others
On the basis of end user, the market is segmented into hospitals, ambulatory surgical centers, diagnostic centers, maternity centers, research and academic institutes, surgical centers, and others.
Distribution Channel
- Direct Tenders
- Retail Tender
- Third Party Distribution
On the basis of distribution channel, the market is segmented into direct tenders, retail tender, and third party distribution.
Global Ultrasound Devices Market Regional Analysis/Insights
The global ultrasound devices market is analyzed, and market size insights and trends are provided by type, scan type, imaging modes, screen types, connectivity, functionality, probe frequency, device portability, application, end user, and distribution channel as referenced above.
The countries covered in the global ultrasound devices market report are U.S., Mexico and Canada, Germany, France, U.K., Italy, Spain, Netherlands, Switzerland, Turkey, Russia, Austria, Poland, Hungary, Ireland, Norway, Lithuania, Rest of Europe, China, Japan, India, Australia, South Korea, Singapore, Malaysia, Thailand, Indonesia, Philippines, Vietnam, Rest of Asia-Pacific, Brazil, Argentina, Peru, Rest of South America, South Africa, Saudi Arabi, U.A.E., Egypt, Israel, Kuwait, and the Rest of the Middle East and Africa.
North America is expected to dominate the global ultrasound devices market in terms of market share and market revenue due to the growing awareness of health concerns and most of the market players present in the market. Also, they have a high purchasing power and want to have better facilities which result in their domination. U.S. is expected to dominate the North America region due to its advanced healthcare infrastructure and extensive network of high-quality clinical centres. Germany is expected to dominate the Europe region due to its rising demand in cutting edge healthcare technologies and increasing awareness regarding. China is expected to dominate the Asia-Pacific region due to its rising research and development in cutting edge healthcare technologies and increasing manufacturing module.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of regional brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Ultrasound Devices Market Share Analysis
The global ultrasound devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus on the global ultrasound devices market.
Some of the major players operating in the global ultrasound devices market are Medgyn Products, Inc., SonoScape Medical Corp., Trivitron Healthcare, Narang Medical Limited, Telemed Ultrasound, Clarius, Canon Medical Systems Corporation, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Koninklijke Philips N.V., ESAOTE SPA, CHISON Medical Technologies Co., Ltd., EDAN Instruments, Inc., Hitachi Healthcare Americas, Konica Minolta, Inc., Lumibird Medical, BenQ Medical Technology, Lanmage, Shenzhen Ricso Technology Co., Ltd, Promed Technology Co., ALPINION MEDICAL SYSTEMS Co., Ltd, GE HealthCare, Hologic Inc, Seimens Healthineers AG, FUJIFILM Holdings Corporation, among others.
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