Ultrasound Market
Global Ultrasound Market By Technology (2D Ultrasound Imaging, 3D& 4D Ultrasound Imaging, Doppler Imaging), By Application (Cardiology, Gynecology, Urology, Oncology, Orthopedic, Others), By Portability (Trolley/ Cart-Based Ultrasound Devices and Compact/Handheld Ultrasound Devices), By End User (Hospitals, Diagnostic Centers, Other) and Forecast 2021-2027 Update Available - Forecast 2024-2030
The global ultrasound market is growing at a CAGR of 5.8% during the forecast period. The growing pervasiveness of chronic diseases, Advancement in technology is one of the prime factors affecting and driving the market. The growing applications of ultrasound owing to its compact designs that offer easy portability, among others are also estimated to fuel the demand for ultrasound devices which in turn will drive its market growth. However, there are certain factors such as lack of trained technicians, limitations of ultrasound imaging, and high cost of product that are hindering the growth of the global ultrasound market.
Rising R& D in the field of imaging along with growing FDA approval for new systems are anticipated to offer a lucrative opportunity for market growth. For instance, in May 2020, Koninklijke Philips N.V. had received US FDA approval for the usage of its ultrasound portfolio related to COVID-19 to manage the complication related to the lungs and heart. It had become a valuable tool for clinicians to treat patients that are suffering from COVID-19 with the company’s handheld and portable ultrasound solution.
Impact of COVID-19 on the Global Ultrasound Market
The outbreak of COVID-19 pandemic has increased rapidly the demand for handheld ultrasound in 2020. Ultrasound is being used as diagnostic tools for COVID-19 patient. Handheld ultrasound has easy availability and has reduce hospital visit during the pandemic. Healthcare professional can monitor the state of patients via smartphone. Various manufacturers have been offering wireless Point of care ultrasound system. Wireless handheld ultrasound scanners are easy to disinfect than traditional cart-based ultrasound systems and reduce the chances of patient getting infected during hospital visits. It is predicted that the global ultrasound market is slightly impacted by the COVID-19 pandemic and is expected to grow considerably during next five years considering current demand for ultrasound system.
Segmental Outlook
The market is segmented based on technology, application, portability, and end-user. Based on technology, the market is segmented into 2D ultrasound imaging, 3D & 4D ultrasound imaging, and Doppler imaging. Based on the application segment, the market is segmented into cardiology, gynecology, urology, oncology, orthopedic, and others. Based on portability the market is segmented into trolley/ cart-based ultrasound devices and compact/handheld ultrasound devices. Based on end-user the market is segmented into hospitals, diagnostic centers, and others.
Global Ultrasound Market Share End-User, 2020 (%)
Based on end-user, hospitals are anticipated to hold a considerable share in the ultrasound market. The hospital segment is primary driven by the increasing and remarkable number of procedures performed in hospitals with ultrasound. Through this increasing number of patients in developed and emerging countries suffering from chronic disorders can be diagnosed and treated. Further, increasing adoption of minimally invasive diagnostic & surgical procedures in these facilities is also anticipated to drive the growth of this market segment.
Regional Outlooks
The global ultrasound market is analyzed based on the geographical regions that are contributing significantly towards the growth of the market. Based on the geography, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is estimated to be one of the growing regions in the global ultrasound market. The presence of well-developed healthcare infrastructure and increasing demand for home healthcare along with remote patient monitoring adoption are among the prime factors pushing the growth of the market in North America. In Europe, ongoing clinical research projects related to ultrasound and high health expenditure are some of the factors that are driving the growth of the ultrasound market\. Asia-Pacific is estimated to be the remarkable growth during the forecast period 2021-2027.
Global Ultrasound Market, by Region 2021-2027
Asia-Pacific Will Have Considerable Growth in The Global Ultrasound Market
Asia-Pacific region is projected to exhibit considerable growth in the global ultrasound market. Rising health care expenditure, increasing awareness with regards to the therapeutic potential of ultrasound technologies are fueling the regional demand for the ultrasound market. The growing geriatric population, presence of large-scale unmet medical needs are further contributing to the growth of the regional market. China is one of the major manufactures of machines of ultrasound that are cost-effective is also considered an important factor for driving the growth of the market in the Asia-Pacific region.
Market Players Outlook
Key players of the global ultrasound market are Fujifilm Holdings Corp., General Electric Co., Koninklijke Philips N.V., Siemens Healthcare Private Ltd., Shimadzu Corp. To survive in the market, these players adopt different marketing strategies such as product launches. For instance, In August 2020, Koninklijke Philips N.V. has enlarged its ultrasound in cardiovascular by launching Affiniti CVx for increased productivity. The objective of this system is to help departments of cardiology for delivering better care to the maximum number of patients with increased throughput and efficiency. The offering with auto strain technology attributes in Affiniti CVx had highlighted decreased strain analysis time by 70% along with the decrease in the total cost of ownership.
In April 2020, Mindray medical one of the global providers of devices in medical and solution had announced the release of the new portable ultrasound system, which will support clinical confidence in the situation of pandemic Covid-19. These products had been offered by the company in Europe and other selected countries only. The device offers management solutions that are smart fluid, disinfection solution, graceful mobility, flexible battery solution along intuitive interface. Moreover, without getting infected an essential part can be achieved with a high level of clinical safety through these devices. It can be adapted to multiple environments with the presence of 3kg and 44mm in thickness along with the three screens, user-centric design, and user-defined layout guarantee present in it.
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global ultrasound market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Ultrasound Industry
• Recovery Scenario of Global Ultrasound Industry
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Geography
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of COVID-19 on Key Players
4. Market Determinants
4.1. Motivators
4.2. Restraints
4.3. Opportunities
5. Market Segmentation
5.1. Global Ultrasound Market by Technology
5.1.1. 2D Ultrasound Imaging
5.1.2. 3D & 4D Ultrasound Imaging
5.1.3. Doppler Imaging
5.2. Global Ultrasound Market by Application
5.2.1. Obstetrics/Gynecology
5.2.2. Cardiology
5.2.3. Orthopedic and Musculoskeletal
5.2.4. Urology
5.2.5. Other
5.3. Global Ultrasound Market by Portability
5.3.1. Trolley/ Cart-Based Ultrasound Devices
5.3.2. Compact/Handheld Ultrasound Devices
5.4. Global Ultrasound Market by End-User
5.4.1. Hospitals
5.4.2. Diagnostic Centers
5.4.3. Other
6. Regional Analysis
6.1. North America
6.1.1. United States
6.1.2. Canada
6.2. Europe
6.2.1. UK
6.2.2. Germany
6.2.3. Italy
6.2.4. Spain
6.2.5. France
6.2.6. Rest of Europe
6.3. Asia-Pacific
6.3.1. China
6.3.2. India
6.3.3. Japan
6.3.4. South Korea
6.3.5. Rest of Asia-Pacific
6.4. Rest of the World
7. Company Profiles
7.1. Analogic Corp.
7.2. Butterfly Network, Inc.
7.3. Canon Medical Systems Corp.
7.4. Carestream Health, Inc.
7.5. ESAOTE SPA
7.6. Fujifilm Holdings Corp.
7.7. Fukuda Denshi Co. Ltd.
7.8. General Electric Co.
7.9. Hitachi, Ltd.
7.10. Hologic, Inc.
7.11. Konica Minolta Healthcare Americas, Inc.
7.12. Koninklijke Philips N.V.
7.13. Siemens Healthcare Pvt. Ltd.
7.14. Samsung Medison Co.
7.15. Trivitron Healthcare Pvt. Ltd.
7.16. Terason Division Teratech Corp.
7.17. Shantou Institute of Ultrasonic Instruments Co., Ltd. (SIUI)
7.18. Shimadzu Corp.
7.19. SonoScape Medical Corp.
1. GLOBAL ULTRASOUND MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2020-2027 ($ MILLION)
2. GLOBAL 2D ULTRASOUND IMAGING MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
3. GLOBAL 3D & 4D ULTRASOUND IMAGING MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
4. GLOBAL DOPPLER IMAGING MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
5. GLOBAL ULTRASOUND MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
6. GLOBAL CARDIOLOGY MARKET RESEARCH AND ANALYSIS BY REGION,2020-2027 ($ MILLION)
7. GLOBAL OBSTETRICS/GYNECOLOGY MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
8. GLOBAL ORTHOPEDIC AND MUSCULOSKELETAL MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
9. GLOBAL UROLOGY MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
10. GLOBAL OTHER MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
11. GLOBAL ULTRASOUND MARKET RESEARCH AND ANALYSIS BY PORTABILITY, 2020-2027 ($ MILLION)
12. GLOBAL TROLLEY/CART-BASED ULTRASOUND DEVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
13. GLOBAL COMPACT/HANDHELD ULTRASOUND DEVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
14. GLOBAL ULTRASOUND MARKET RESEARCH AND ANALYSIS, BY END-USER, 2020-2027 ($ MILLION)
15. GLOBAL ULTRASOUND FOR HOSPITALS MARKET RESEARCH AND ANALYSIS, 2020-2027 ($ MILLION)
16. GLOBAL ULTRASOUND FOR DIAGNOSTIC CENTRES MARKET RESEARCH AND ANALYSIS, 2020-2027 ($ MILLION)
17. GLOBAL ULTRASOUND FOR OTHER END-USER MARKET RESEARCH AND ANALYSIS, 2020-2027 ($ MILLION)
18. NORTH AMERICAN ULTRASOUND MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
19. NORTH AMERICAN ULTRASOUND MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2020-2027 ($ MILLION)
20. NORTH AMERICAN ULTRASOUND MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
21. NORTH AMERICAN ULTRASOUND MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
22. NORTH AMERICAN ULTRASOUND MARKET RESEARCH AND ANALYSIS BY PORTABILITY, 2020-2027 ($ MILLION)
23. EUROPEAN ULTRASOUND MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2020-2027 ($ MILLION)
24. EUROPEAN ULTRASOUND MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
25. EUROPEAN ULTRASOUND MARKET RESEARCH AND ANALYSIS BY PORTABILITY, 2020-2027 ($ MILLION)
26. EUROPEAN ULTRASOUND MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
27. EUROPEAN ULTRASOUND MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
28. ASIA-PACIFIC ULTRASOUND MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
29. ASIA-PACIFIC ULTRASOUND MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2020-2027 ($ MILLION)
30. ASIA-PACIFIC ULTRASOUND MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
31. ASIA-PACIFIC ULTRASOUND MARKET RESEARCH AND ANALYSIS BY PORTABILITY, 2020-2027 ($ MILLION)
32. ASIA-PACIFIC ULTRASOUND MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
33. REST OF WORLD ULTRASOUND MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2020-2027 ($ MILLION)
34. REST OF WORLD ULTRASOUND MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
35. REST OF WORLD ULTRASOUND MARKET RESEARCH AND ANALYSIS BY PORTABILITY, 2020-2027 ($ MILLION)
36. REST OF WORLD ULTRASOUND MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
1. GLOBAL ULTRASOUND MARKET BY TECHNOLOGY, 2020 VS 2027 (%)
2. GLOBAL ULTRASOUND MARKET BY APPLICATION, 2020 VS 2027 (%)
3. GLOBAL ULTRASOUND MARKET BY PORTABILITY, 2020 VS 2027 (%)
4. GLOBAL ULTRASOUND MARKET BY END-USER, 2020 VS 2027 (%)
5. GLOBAL 2D ULTRASOUND IMAGING MARKET SHARE, 2020 VS 2027 (%)
6. GLOBAL 3D & 4D ULTRASOUND IMAGING MARKET SHARE, 2020 VS 2027 (%)
7. GLOBAL DOPPLER IMAGING MARKET SHARE, 2020 VS 2027 (%)
8. GLOBAL ULTRASOUND IN CARDIOLOGY MARKET SHARE, 2020 VS 2027 (%)
9. GLOBAL ULTRASOUND IN GYNECOLOGY MARKET SHARE, 2020 VS 2027 (%)
10. GLOBAL ULTRASOUND IN ORTHOPEDIC MARKET SHARE, 2020 VS 2027 (%)
11. GLOBAL ULTRASOUND IN UROLOGY MARKET SHARE, 2020 VS 2027 (%)
12. GLOBAL OTHERS MARKET SHARE, 2020 VS 2027 (%)
13. GLOBAL TROLLEY/ CART-BASED ULTRASOUND DEVICES MARKET SHARE, 2020 VS 2027 (%)
14. GLOBAL COMPACT/HANDHELD ULTRASOUND DEVICES MARKET SHARE, 2020 VS 2027 (%)
15. GLOBAL ULTRASOUND FOR HOSPITALS MARKET SHARE, 2020 VS 2027 (%)
16. GLOBAL ULTRASOUND FOR DIAGNOSTIC CENTERS MARKET SHARE, 2020 VS 2027 (%)
17. GLOBAL ULTRASOUND FOR OTHERS MARKET SHARE, 2020 VS 2027 (%)
18. US ULTRASOUND MARKET SIZE, 2020-2027 ($ MILLION)
19. CANADA ULTRASOUND MARKET SIZE, 2020-2027 ($ MILLION)
20. UK ULTRASOUND MARKET SIZE, 2020-2027 ($ MILLION)
21. GERMANY ULTRASOUND MARKET SIZE, 2020-2027 ($ MILLION)
22. SPAIN ULTRASOUND MARKET SIZE ,2020-2027 ($ MILLION)
23. FRANCE ULTRASOUND MARKET SIZE, 2020-2027 ($ MILLION)
24. ITALY ULTRASOUND MARKET SIZE, 2020-2027 ($ MILLION)
25. REST OF EUROPE ULTRASOUND MARKET SIZE, 2020-2027 ($ MILLION)
26. INDIA ULTRASOUND MARKET SIZE, 2020-2027 ($ MILLION)
27. CHINA ULTRASOUND MARKET SIZE, 2020-2027 ($ MILLION)
28. JAPAN ULTRASOUND MARKET SIZE, 2020-2027 ($ MILLION)
29. SOUTH KOREA ULTRASOUND MARKET SIZE, 2020-2027 ($ MILLION)
30. REST OF ASIA-PACIFIC ULTRASOUND MARKET SIZE, 2020-2027 ($ MILLION)
31. REST OF WORLD ULTRASOUND MARKET SIZE, 2020-2027 ($ MILLION)
