The Ultrasound Transducer Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Ultrasound Transducer Global Market Report 2024, The ultrasound transducer market size has grown strongly in recent years. It will grow from $3.96 billion in 2023 to $4.18 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to increasing diagnostic imaging demand, rise in chronic diseases, expanding applications in obstetrics and gynecology, growing geriatric population, global healthcare infrastructure development..
The ultrasound transducer market size is expected to see steady growth in the next few years. It will grow to $4.95 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%. The growth in the forecast period can be attributed to proliferation of telemedicine services, focus on point-of-care diagnostics,
increased accessibility in developing regions, expanding applications in interventional procedures, customization for specific medical specialties.. Major trends in the forecast period include miniaturization of transducer technology, expansion of point-of-care ultrasound (pocus), development of high-frequency transducers, integration of artificial intelligence (ai), advancements in transducer materials, wireless and cable-free transducer connectivity..
The increasing prevalence of cardiovascular and respiratory disorders is expected to propel the growth of the ultrasound transducer market going forward. Cardiovascular and respiratory disorders refer to a group of medical conditions that affect the cardiovascular system (heart and blood vessels) and the respiratory system (lungs and airways). Ultrasound transducers are commonly used to diagnose and manage cardiovascular and respiratory disorders. These devices play a crucial role in imaging and assessing the structures and functions of the heart, blood vessels, lungs, and related organs. For instance, in March 2022, according to a report published by the Office for National Statistics, a UK-based government department, between 2020 and 2021, 19,440 to 20,061 people died from heart attacks. Furthermore, for instance, in June 2023, according to reports published by the Australian Institute of Health and Welfare, an Australia-based national agency, there was a rise in respiratory disease-related deaths from 43,031 in 2020 to 46,551 in 2021 in Australia. Therefore, the increasing prevalence of cardiovascular and respiratory disorders is driving the growth of the ultrasound transducer market.
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The ultrasound transducer market covered in this report is segmented –
1) By Product: Linear, Convex, Phased array, Endocavitary, Continuous wave Doppler, Other Products
2) By Application: Cardiovascular, General Imaging, Musculoskeletal, Obstetrics (OB) And Gynecology (GYN), Vascular, Other Applications
3) By End User: Hospitals, Diagnostic Centers, Ambulatory Surgical Centers, Clinics
Major companies operating in the ultrasound transducer market are developing innovative technological products, such as the TEX20 Series, to meet the needs of clinicians in demanding environments such as critical care and emergency medicine. The TEX20 Series is a point-of-care ultrasound system that can help clinicians provide better patient care in demanding environments. For instance, in June 2022, Mindray Global, a China-based medical device company, launched the TEX20 Series, a point-of-care ultrasound system. It features several innovative technologies that deliver exceptional image quality, clinical confidence, and workflow efficiency. The Mindray TEX20 series point-of-care ultrasound system is a sophisticated technological solution combining several characteristics to improve clinical performance and patient-centered treatment. The TEX20 series incorporates essential technology such as ZST, AI-powered Smart Tools, an information integration system, an ergonomic design, a wireless transducer, sophisticated imaging modes, high-frequency imaging, and a portable design.
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