Ultrasound Market Growth, Trends, Revenue, Size, Future Plans and Forecast 2029

Ultrasound Market size was valued at USD 7.24 Bn. in 2022 and the total Ultrasound revenue is expected to grow by 6.5% from 2023 to 2029, reaching nearly USD 11.25 Bn.

Ultrasound Market Overview

The market overview focuses on analyzing the dynamics of the Ultrasound industry, including its key players and market rivalry. The report provides revenue forecasts for the industry at the global, regional, and segment levels, with a particular emphasis on sales forecasting by segment and region. This comprehensive analysis allows for a detailed understanding of the market’s current state and future trends, providing valuable insights for industry stakeholders.

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The report on Ultrasound Market provides an in-depth analysis of the industry. Key highlights of the report include the market size and the growth rate. Insights of the report covers the drivers, restraints, challenges & opportunities for Ultrasound market growth. A detailed PESTEL analysis is also included in the report. The report covers a thorough regional analysis of the Ultrasound industry at local, regional and global level. Segment wise marker share estimation & Industry potential is also covered.

The Ultrasound Market was analysed by region, revenue, financial status, portfolio, technological advancement adopted, and mergers and acquisitions. The new entrants & existing players in Ultrasound market were researched for growth prospects and future business outlooks. The analysis acts as a guide for stakeholders, investors, market players and followers and new entrants with an overall view of the Ultrasound market for formulating investment approaches and marketing tactics. Bottom-up approach was used to estimate the Ultrasound market size.

Ultrasound Market Regional Insights

The report provides a comprehensive examination of the factors driving growth, constraints, future prospects, and competitive landscape across all regions. The market is segmented by region into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. Additionally, the report identifies the top countries in each region and provides market forecasts for each one..

Ultrasound Market Segmentation

by Technology
• Diagnostic Ultrasound
o 2D Ultrasound
o 3D & 4D Ultrasound
o Doppler Ultrasound
• Therapeutic Ultrasound
o High-Intensity Focused Ultrasound (HIFU)
o Extracorporeal Shockwave Lithotripsy (ESWL)

With a 72% market share, the Diagnostic Ultrasound devices category leads the industry in terms of technology. This is due to the numerous uses in oncology, cardiology, and obstetrics. The need for diagnostic ultrasonography devices is also anticipated to increase due to technology improvements and the rising prevalence of numerous lifestyle-related illnesses. The desire for more advanced diagnostic tools, like miniaturised 2D and 3D/4D, is also expected to fuel the global market for diagnostic ultrasound devices. It is further divided into 2D, 3D/4D, and Doppler segments.

by Application
• Radiology/General Imaging Applications
• Obstetrics/Gynecology Applications
• Cardiology Applications
• Urology Applications
• Vascular Applications

General imaging is less expensive than other applications and includes a variety of scans that clinicians need for diagnosis and direct treatment, such as scans of the liver, thyroid, scrotum, bladder, pancreas, kidneys, spleen, and gallbladder. It also includes scans of the abdomen, musculoskeletal system, small parts, urology, and the liver, thyroid, and other organs.

by End User
• Hospitals, Surgical Centers, and Diagnostic Centers
• Maternity Centers
• Ambulatory Care Centers
• Research and Academia

The Hospital end-user category accounted for the largest revenue share of over 39.5% in 2022 and is anticipated to continue dominating the ultrasound device market with the highest CAGR over the course of the forecast period. Two elements that have contributed to the segment’s growth are the widespread use of ultrasound technology in medical settings and the rise in people seeking care for a variety of lifestyle-related illnesses. It is predicted that the demand for ultrasound technology in both outpatient and inpatient settings would increase as portable systems become more readily available. Due to the increased adoption of technologically advanced imaging systems and the rising number of hospital mergers and acquisitions with other market rivals over the course of the forecast period, the demand for new installations is also predicted to rise.

Ultrasound Market Key Players

• GE Healthcare (US)
• Hologic, Inc (US)
• Integra Medical Systems LLC (US)
• Analogic Corporation (US)
• Carestream Health (US)
• Medgyn Products, Inc (US)
• United Imaging Healthcare Co., Ltd. (US)
• Clarius Mobile Health (Canada)
• Neusoft Corporation (China)
• SonoScape Medical Corp. (China)
• Mindray Medical International Limited (China)
• Chison Medical Technologies Co., Ltd. (China)
• CANON MEDICAL SYSTEMS CORPORATION (Japan)
• Hitachi Ltd. (Japan)
• FUJIFILM Holdings Corporation (Japan)
• Konica Minolta, Inc (Japan)
• Samsung Medison Co., Ltd. (South Korea)
• CURA Healthcare (India)
• Siemens Healthcare (Germany)
• Esaote SpA (Italy)
• Koninklijke Philips N.V. (Netherlands)

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Key questions answered in the Ultrasound Market are:

• What is Ultrasound ?
• What are the factors driving the Ultrasound Market growth?
• What are the factors are limiting the Ultrasound Market growth?
• What was the Ultrasound market size in 2021?
• Which trends are expected to generate additional revenue for the Ultrasound market growth?
• What are the recent industry trends that can be implemented to generate additional revenue streams for the Ultrasound Market?
• What growth strategies are the players considering to increase their foothold in the Ultrasound Market?
• Who held the largest market share in the Ultrasound Market?

Key Offerings:

• Past Market Size and Competitive Landscape (2018 to 2021)
• Past Pricing and price curve by region (2018 to 2021)
• Market Size, Share, Size & Forecast by different segment | 2022−2029
• Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation – A detailed analysis by segment with their sub-segments and Region
• Competitive Landscape – Profiles of selected key players by region from a strategic perspective
• Competitive landscape – Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER’s analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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