The global demand for Ultrasound Market is presumed to reach the market size of nearly USD 17.31 Billion by 2032 from USD 9.21 Billion in 2023 with a CAGR of 7.26% under the study period 2024 - 2032.
Ultrasound is an imaging technique, which uses high-frequency sound waves to create an image of internal body structures including muscles, joints, blood vessels, and internal organs. Basically, it is used to diagnose the pain, swelling, and infection in the body's internal organs and also during pregnancy to view the fetus. It is safe, non-invasive and free from radiation. Ultrasound is of 2D, 3D, 4D, and doppler type and have application across hospital and clinic among others.
Market Dynamics
The increasing prevalence of chronic diseases along with the rising preference for minimally invasive procedures is primarily driving the market growth. Growing public and private investments, funding, and grants are again boosting the market growth. In addition to this, technological advancements and the increasing number of diagnostic centers & hospitals are further fuelling market growth. On the other hand, stringent government regulations are expected to limit market growth. Whereas, emerging markets and expanding applications of therapeutic ultrasound are expected to propel demand over the forecast period.
The report covers Porter's Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of ultrasound.
Market Segmentation
The entire ultrasound market has been sub-categorized into type and application. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
By Technology
- Diagnostic Ultrasound (2D Ultrasound, 3D & 4D Ultrasound, Doppler Ultrasound, Contrast-Enhanced Ultrasound)
- Therapeutic Ultrasound (High-Intensity Focused Ultrasound (HIFU), Extracorporeal Shockwave Lithotripsy (ESWL))
By Display
- Color Ultrasound
- Black and White Ultrasound
By Portability
- Diagnostic Ultrasound (Trolly/ Cart based Ultrasound Systems, Compact/Handheld Ultrasound Systems, POC Ultrasound Systems)
By Component
- Transducers/Probes (Curvilinear/ Convex Array Probes, Linear Array Probes, Phased Array Probes, Other Probes)
- Workstations
- Other
By Application
- Radiology/General Imagin
- OB/Gyn
- Cardiology
- Urology
- Vascular
- Orthopedic and Musculoskeletal
- Pain Management
- Other
By End User
- Hospital, Surgical Centers, Diagnostic Centers
- Matemity Center
- Ambulatory Centers
- Research and Academia
- Other
Regional Analysis
This section covers regional segmentation which accentuates on current and future demand for ultrasound market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Ultrasound Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the ultrasound market include GE Healthcare (US), Koninklijke Philips N.V. (Netherlands), Canon Medical Systems Corporation (Japan), Siemens AG (Germany), Fujifilm Corporation (Japan), and Hologic, Inc. (US). This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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