Ultrasound Devices Market Size, Share & Growth Report | 2031

Segments - Ultrasound Devices Market by Applications (Radiology, Cardiology, Anesthesiology, Gynecology/Obstetrics, Critical Care, and Others), Technology (3D & 4D Ultrasound Imaging, 2D Ultrasound Imaging, Doppler Imaging, and High intensity Focused Ultrasound), Types (Portable Ultrasound and Stationary Ultrasound), Regions (North America, Europe, Asia Pacific, Middle East and Africa, and South America) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

Author : Raksha Sharma

Fact-checked by : Vineet Pandey

Editor : Vishal Golekar

Report Description

The global ultrasound devices market size was valued at 7,455 million in 2020 and is estimated to expand at a significant CAGR during the forecast period, 2021-2028. The growth of market is attributed to increasing government investment in research and development of ultrasound imaging, growing number of healthcare providers, enhancement in technology, and increasing cases of chronic diseases.

According to 2018 report of University of California, nearly 750,000 patients in United States and 2 million patients worldwide are severally affected by kidney failure. The occurrence of major chronic diseases such as neurological, cardiovascular, and cancer is becoming a serious anxiety for healthcare sector.

Globally, one out of six deaths happens due to cancer, considering it is the second leading cause of death worldwide.

The increased occurrence of the disorder and the demand for the detection of diseases on the early stage and availability at affordable prices for the treatment is anticipated to increase the adoption of ultrasound devices. The growing aging population is more vulnerable to the chronic disease which is expected to boost the market.

The COVID-19 has severally impacted the world and has changed every vision of the healthcare industry. The pandemic has projected an unpredictable and complex effect on the ultrasound market. Healthcare providers are deploying the potential of ultrasound diagnosis, and primary point of care applications for monitoring and diagnosis of COVID sufferers.

Market Trends, Drivers, Restraints, and Opportunities

Increasing investments in ultrasound imaging devices for early detection of chronic diseases is expected to drive the market in the coming years.
Rising number of healthcare providers is estimated to spur the market during the forecast period.
Rapid spread of the chronic diseases around the globe is anticipated to drive the market during the projected period.
R&D and technological advancement to replace the old heavy equipments with portable light weighing and more advanced devices is estimated to propel the market in the coming years.
The growing number of geriatric population worldwide is estimated to fuel the market.
Lack of skilled professionals who can handle the advance and complex machines act as a factor that can hamper the market growth in the coming years.
Strict government policies associated with operational concern and approval for the product from the government possess a challenge that can hinder the market during the projected period.

Scope of the market

The report on the global ultrasound devices market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Ultrasound Devices Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2020
Historic Data	2018–2019
Forecast Period	2021–2028
Segmentation	Applications (Radiology, Cardiology, Anesthesiology, Gynecology/Obstetrics, Critical Care, and Others), Technology (3D & 4D Ultrasound Imaging, 2D Ultrasound Imaging, Doppler Imaging, and High intensity Focused Ultrasound), Types (Portable Ultrasound and Stationary Ultrasound)
Regional Scope	North America, Europe, Asia Pacific, Middle East and Africa, and South America
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	GE Healthcare; Siemens Healthineers; Koninklijke Philips NV; Mindray Medical International Ltd; Canon Medical System Corporations.

Market Segment Insights

The radiology segment is expect to exhibit high CAGR

Based on the applications, the market is segregated into radiology, cardiology, anesthesiology, gynecology/obstetrics, critical care, and others. The radiology segment is expect to exhibit high CAGR in the coming years due to rising incidence of chronic diseases, increasing usage of ultrasound for early cancer diagnosis, and rapid adoption of focused ultrasound in therapies.

Ultrasound Devices Market By Application

The 2D ultrasound imaging segment is expected to hold key share of the market

On the basis of technology, the market is categorized into 3D & 4D ultrasound imaging, 2D ultrasound imaging, doppler imaging, and high intensity focused ultrasound. The 2D ultrasound imaging segment is expected to hold key share of the market in the coming years owing to increased usage of ultrasound on women’s health, reimbursements made available by the government for ultrasound diagnosis in some of the markets, growing application use, and technological advancements in diagnostics ultrasound imaging market.

The stationary ultrasound segment account a large share of the market

Based on types, the market is bifurcated into portable ultrasound and stationary ultrasound. The stationary ultrasound segment accounts for a large share of the market during the projected period due to increasing usage in acute care settings and emergency cares in hospitals and healthcare facilities, with increasing technological development the application usage of ultra sound system witnesses a drastic spike, moreover elderly population more vulnerable to chronic diseases are the factor contributing in the segment expansion.

North America is anticipated to dominate the market

In the terms of regions, the market is fragmented into North America, Europe, Asia Pacific, Middle East and Africa, and South America. North America is anticipated to dominate the market in the coming years owing to rising incidence of chronic diseases, growing aging population, and increasing government funding along with the healthcare service providers. Furthermore government reimbursement policies, increasing healthcare expenses, and creating awareness against the importance of diagnostic procedure are estimated to dominate the market.

Segments

Segments Covered in the Report
The global ultrasound device market has been segregated on the basis of

Applications

Radiology
Cardiology
Anesthesiology
Gynecology/Obstetrics
Critical Care
Others

Technology

3D & 4D Ultrasound Imaging
2D Ultrasound Imaging
Doppler Imaging
High intensity Focused Ultrasound

Types

Portable Ultrasound
Stationary Ultrasound

Regions

North America
Asia Pacific
Europe
South America
Middle East and Africa

Key Players

GE Healthcare
Siemens Healthineers
Koninklijke Philips NV
Mindray Medical International Ltd
Canon Medical System Corporations

Competitive Landscape

Key players competing in the global ultrasound devices market include GE Healthcare; Siemens Healthineers; Koninklijke Philips NV; Mindray Medical International Ltd; Canon Medical System Corporations.

Some of these players are targeting on business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares. For instance

In November 2020, GE Healthcare expanded AI, digital and imaging solutions and unveiled a slate of new intelligence and ultrasound system that incorporated with AI technology to drive workflow more efficiently during lockdown crisis.

In September 2020, Philips Healthcare launched the new edition of dedicated cardiovascular ultrasound solutions, the Affiniti CVx to encourage and support cardiology department to deliver effective care to the patients.

Ultrasound Devices Market By Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Ultrasound Devices Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Ultrasound Devices Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Ultrasound Devices Market - Supply Chain
  4.5. Global Ultrasound Devices Market Forecast
     4.5.1. Ultrasound Devices Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Ultrasound Devices Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Ultrasound Devices Market Absolute $ Opportunity
5. Global Ultrasound Devices Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Ultrasound Devices Market Size and Volume Forecast by Types
     5.3.1. Portable Ultrasound Stationary Ultrasound
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Ultrasound Devices Market Analysis and Forecast by Applications
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Applications
     6.2.2. Y-o-Y Growth Projections by Applications
  6.3. Ultrasound Devices Market Size and Volume Forecast by Applications
     6.3.1. Radiology Cardiology Anesthesiology Gynecology/Obstetrics Critical Care Others
  6.4. Absolute $ Opportunity Assessment by Applications
  6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Ultrasound Devices Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Ultrasound Devices Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Ultrasound Devices Demand Share Forecast, 2019-2026
8. North America Ultrasound Devices Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Ultrasound Devices Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Ultrasound Devices Market Size and Volume Forecast by Types
     8.4.1. Portable Ultrasound Stationary Ultrasound
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. North America Ultrasound Devices Market Size and Volume Forecast by Applications
     8.7.1. Radiology Cardiology Anesthesiology Gynecology/Obstetrics Critical Care Others
  8.8. Basis Point Share (BPS) Analysis by Applications
  8.9. Y-o-Y Growth Projections by Applications
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Ultrasound Devices Demand Share Forecast, 2019-2026
9. Latin America Ultrasound Devices Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Ultrasound Devices Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Ultrasound Devices Market Size and Volume Forecast by Types
     9.4.1. Portable Ultrasound Stationary Ultrasound
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Latin America Ultrasound Devices Market Size and Volume Forecast by Applications
     9.7.1. Radiology Cardiology Anesthesiology Gynecology/Obstetrics Critical Care Others
  9.8. Basis Point Share (BPS) Analysis by Applications
  9.9. Y-o-Y Growth Projections by Applications
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Ultrasound Devices Demand Share Forecast, 2019-2026
10. Europe Ultrasound Devices Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Ultrasound Devices Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Ultrasound Devices Market Size and Volume Forecast by Types
     10.4.1. Portable Ultrasound Stationary Ultrasound
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Europe Ultrasound Devices Market Size and Volume Forecast by Applications
     10.7.1. Radiology Cardiology Anesthesiology Gynecology/Obstetrics Critical Care Others
  10.8. Basis Point Share (BPS) Analysis by Applications
  10.9. Y-o-Y Growth Projections by Applications
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Ultrasound Devices Demand Share Forecast, 2019-2026
11. Asia Pacific Ultrasound Devices Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Ultrasound Devices Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Ultrasound Devices Market Size and Volume Forecast by Types
     11.4.1. Portable Ultrasound Stationary Ultrasound
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Asia Pacific Ultrasound Devices Market Size and Volume Forecast by Applications
     11.7.1. Radiology Cardiology Anesthesiology Gynecology/Obstetrics Critical Care Others
  11.8. Basis Point Share (BPS) Analysis by Applications
  11.9. Y-o-Y Growth Projections by Applications
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Ultrasound Devices Demand Share Forecast, 2019-2026
12. Middle East & Africa Ultrasound Devices Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Ultrasound Devices Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Ultrasound Devices Market Size and Volume Forecast by Types
     12.4.1. Portable Ultrasound Stationary Ultrasound
  12.5. Basis Point Share (BPS) Analysis by Types
  12.6. Y-o-Y Growth Projections by Types
  12.7. Middle East & Africa Ultrasound Devices Market Size and Volume Forecast by Applications
     12.7.1. Radiology Cardiology Anesthesiology Gynecology/Obstetrics Critical Care Others
  12.8. Basis Point Share (BPS) Analysis by Applications
  12.9. Y-o-Y Growth Projections by Applications
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Ultrasound Devices Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Ultrasound Devices Market: Market Share Analysis
  13.2. Ultrasound Devices Distributors and Customers
  13.3. Ultrasound Devices Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. GE Healthcare Siemens Healthineers Koninklijke Philips NV Mindray Medical International Ltd Canon Medical System Corporations