Ultrasound Market by Technology (2D, 3D, Doppler, Contrast-Enhanced, HIFU, ESWL), Component (Workstation, Probe), Type (Cart, Handheld, PoC), Application (OB/GYN, CVD, Urology, Ortho), End User (Hospitals, Clinics, ASCs) & Region - Global Forecast to 2028
Description
Ultrasound Market by Technology (2D, 3D, Doppler, Contrast-Enhanced, HIFU, ESWL), Component (Workstation, Probe), Type (Cart, Handheld, PoC), Application (OB/GYN, CVD, Urology, Ortho), End User (Hospitals, Clinics, ASCs) & Region - Global Forecast to 2028
The global ultrasound market is projected to reach USD 11.6 billion by 2028 from USD 8.5 billion in 2023, at a CAGR of 6.3% from 2023 to 2028. Factors such as the high incidence/prevalence of target diseases, the growing number of diagnostic imaging centers/procedures, increasing awareness about the benefits of early diagnosis of diseases, and the rapid adoption of technologically advanced ultrasound features and modalities are responsible for the increasing growth of this market.
“The 2D diagnostic ultrasound sub-systems segment of diagnostic ultrasound held the largest share of the market in 2022”
Based on technology, the ultrasound market is segmented into diagnostic ultrasound, therapeutic ultrasound, and contrast enhanced ultrasound. The diagnostic ultrasound segment of the market is further divided into 2D, 3D, 4D, doppler, and contrast enhanced ultrasound. The 2D subsegment held a major share of the market. Advantages offered by 2D ultrasound, such as real time imaging, non-invasive procedure, high-image resolution, and easy accessibility along with portability are driving the growth of this product segment.
“The portability segment is projected to register the highest CAGR during the forecast period”
Based on portability, the ultrasound market is segmented into trolley/cart-based ultrasound, compact/handheld ultrasound, and point-of-care (PoC) ultrasound. The trolley/cart-based ultrasound segment accounted for the largest market share in 2022. The large share of this segment is attributed to the system’s versatility, image quality, ehanced, easy to use features, and due to the increased usage of it in acute care settings and emergency care in hospitals and healthcare institutions.
“The display segment is projected to register the highest CAGR during the forecast period”
On the basis of device display, the ultrasound market is segmented into black & white ultrasound and color ultrasound devices. The color ultrasound devices segment accounted for the largest share of the ultrasound market in 2020. This can be attributed to factors such as benefits offered by color ultrasound devices (including better image quality and higher image resolution), growing market availability of advanced color ultrasound devices (coupled with continuous decline in product cost across major countries), and expanding distribution networks of major manufacturers across emerging countries.
“The market in the North America region is expected to witness the highest growth during the forecast period.”
The ultrasound market in the North America region is expected to register a CAGR during the forecast period, primarily due to the high healthcare spending in the region, rising prevalence of target diseases, increasing research activities, growing number of cosmetic surgeries, and technological advancements in imaging systems.
A breakdown of the primary participants referred to for this report is provided below:
By Company Type: Tier 1–48%, Tier 2–36%, and Tier 3– 16%
By Designation: Director-level–14%, C-level–10%, and Others–76%
By Region: North America–40%, Europe–32%, Asia Pacific–20%, Latin America–5%, and the Middle East & Africa–3%
The prominent players in the ultrasound market are GE Healthcare (US), Koninklijke Philips N.V. (Netherlands), Canon Medical Systems Corporation (Japan), Siemens AG (Germany), Hologic, Inc. (US), FUJIFILM Holdings Corporation (Japan), Samsung Electronics Co., Ltd. (Japan), and Mindray Medical International Limited (China), among others.
Research Coverage
This report studies the ultrasound market based on technology, display, portability, component, application, enduser, and region. It also covers the factors affecting market growth, analyzes the various opportunities and challenges in the market, and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets with respect to their growth trends and forecasts the revenue of the market segments with respect to five main regions (and the respective countries in these regions).
Reasons to Buy the Report
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall ultrasound market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.
This report provides insights on the following pointers:
Analysis of key drivers (rising target patient population, growing adoption of multimodal PET imaging devices, technological advancement, and increasing investment, funds, and grants by public-private organizations), restraints (high capital and operational cost, unfavorable regulatory guidelines), opportunities (improving healthcare infrastructure across emerging countries, PET utilization for breast imaging, promising product pipeline), and challenges (availability of alternate imaging technologies) influencing the growth of the ultrasound market
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the ultrasound market
Market Development: Comprehensive information about lucrative markets–the report analyses the ultrasound market across varied regions.
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the ultrasound market
Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like GE Healthcare (US), Koninklijke Philips N.V. (Netherlands), Canon Medical Systems Corporation (Japan), Siemens AG (Germany), Hologic, Inc. (US), FUJIFILM Corporation (Japan), Samsung Electronics Co., Ltd. (Japan), and Mindray Medical International Limited (China)
Table of Contents
259 Pages
- 1 Introduction
- 1.1 Study Objectives
- 1.2 Market Definition
- 1.2.1 Inclusions And Exclusions
- 1.3 Study Scope
- 1.3.1 Markets Covered
- 1.3.2 Regions Covered
- 1.3.3 Years Considered
- 1.3.4 Currency Considered
- 1.4 Research Limitations
- 1.5 Stakeholders
- 1.6 Summary Of Changes
- 2 Research Methodology
- 2.1 Research Data
- Figure 1 Ultrasound Market: Research Design
- 2.1.1 Secondary Research
- 2.1.2 Primary Research
- 2.1.2.1 Primary Sources
- 2.1.2.2 Key Industry Insights
- 2.1.2.3 Breakdown Of Primaries
- Figure 2 Breakdown Of Primary Interviews: Supply- And Demand-side Participants
- Figure 3 Breakdown Of Primary Interviews: By Company Type, Designation, And Region
- 2.2 Market Size Estimation
- Figure 4 Research Methodology: Hypothesis Building
- 2.2.1 Bottom-up Approach
- 2.2.1.1 Approach 1: Company Revenue Estimation Approach
- Figure 5 Market Size Estimation For Ultrasound Market: Approach 1 (Company Revenue Estimation)
- Figure 6 Revenue Share Analysis: Illustrative Example Of Ge Healthcare
- 2.2.1.2 Approach 2: Customer-based Market Estimation
- 2.2.1.3 Ultrasound Market: Top-down Approach
- 2.2.1.4 Cagr Projection
- Figure 7 Cagr Projection: Supply-side Analysis
- 2.3 Data Validation Approach
- Figure 8 Data Triangulation Methodology
- 2.4 Market Share Assessment
- 2.5 Study Assumptions
- 2.6 Risk Assessment
- 2.6.1 Ultrasound Market: Risk Assessment
- 2.7 Growth Rate Assumptions
- 2.8 Ultrasound Market: Recession Impact
- 3 Executive Summary
- Figure 9 Ultrasound Market, By Technology, 2023 Vs. 2028 (Usd Million)
- Figure 10 Ultrasound Market, By Application, 2023 Vs. 2028 (Usd Million)
- Figure 11 Ultrasound Market, By Portability, 2023 Vs. 2028 (Usd Million)
- Figure 12 Ultrasound Market, By End User, 2023 Vs. 2028 (Usd Million)
- Figure 13 Geographical Snapshot Of Ultrasound Market
- 4 Premium Insights
- 4.1 Ultrasound Market Overview
- Figure 14 Increasing Incidence Of Target Diseases And Subsequent Rise In Surgical Procedures To Drive Market
- 4.2 Europe: Ultrasound Market, By Technology (Usd Million)
- Figure 15 Diagnostic Ultrasound Segment To Hold Largest Share
- 4.3 Asia Pacific: Ultrasound Market, By End User
- Figure 16 Hospitals, Surgical Centers, And Diagnostic Centers Segment To Dominate Market During Forecast Period
- 4.4 Ultrasound Market, By Display Type
- Figure 17 Color Ultrasound Segment To Command Largest Share Till 2028
- 4.5 Geographic Snapshot Of Ultrasound Market
- Figure 18 China To Register Highest Growth Rate During Forecast Period
- 5 Market Overview
- 5.1 Introduction
- 5.2 Market Dynamics
- Figure 19 Ultrasound Market: Drivers, Restraints, Opportunities, And Challenges
- 5.2.1 Drivers
- 5.2.1.1 Increasing Incidence Of Target Diseases And Subsequent Rise In Surgical Procedures
- 5.2.1.2 Growing Patient Preference For Minimally Invasive Surgeries
- 5.2.1.3 Rising Technological Advancements In Ultrasound Devices
- 5.2.1.4 Growing Public-private Investments For Product Commercialization
- 5.2.1.5 Increasing Establishment Of Hospitals And Diagnostic Centers
- 5.2.2 Restraints
- 5.2.2.1 Unfavorable Reimbursements
- 5.2.2.2 High Operating Costs
- 5.2.3 Opportunities
- 5.2.3.1 Growing Applications Of Therapeutic Ultrasound
- 5.2.3.2 High Growth Potential Of Emerging Markets
- 5.2.3.3 Development Of Poc Ultrasound Systems
- 5.2.4 Challenges
- 5.2.4.1 Growing End-user Preference For Refurbished Equipment
- 5.2.4.2 Shortage Of Skilled Sonographers
- 5.3 Porter’s Five Forces Analysis
- Table 1 Ultrasound Market: Porter’s Five Forces Analysis
- 5.3.1 Threat Of New Entrants
- 5.3.2 Threat Of Substitutes
- 5.3.3 Bargaining Power Of Suppliers
- 5.3.4 Bargaining Power Of Buyers
- 5.3.5 Intensity Of Competitive Rivalry
- 5.4 Regulatory Trends
- 5.5 Regulatory Analysis
- 5.5.1 North America
- 5.5.1.1 Us
- Table 2 Us Fda: Medical Device Classification
- Table 3 Us: Medical Device Regulatory Approval Process
- 5.5.1.2 Canada
- Table 4 Canada: Medical Device Regulatory Approval Process
- 5.5.2 Europe
- 5.5.3 Asia Pacific
- 5.5.3.1 Japan
- Table 5 Japan: Medical Device Classification Under Pmda
- 5.5.3.2 China
- Table 6 China: Classification Of Medical Devices
- 5.5.3.3 India
- 5.6 Reimbursement Scenario
- Table 7 Medical Reimbursement Cpt Codes For Ultrasound Procedures In Us (As Of 2021)
- 5.7 Ecosystem Mapping
- 5.8 Value Chain Analysis
- 5.8.1 Research & Product Development
- 5.8.2 Raw Material And Manufacturing
- 5.8.3 Marketing & Sales, Shipment, And Post-sales Services
- Figure 20 Value Chain Analysis—maximum Value Added During Manufacturing Phase
- 5.9 Supply Chain Analysis
- 5.9.1 Prominent Companies
- 5.9.2 Small & Medium-sized Enterprises
- 5.9.3 End Users
- Table 8 Ultrasound Market: Supply Chain Ecosystem
- Figure 21 Ultrasound Market: Supply Chain Analysis
- 5.10 Patent Analysis
- Figure 22 Patent Details For Ultrasound (January 2013–june 2023)
- Figure 23 Patents For Diagnostic Ultrasound Systems (January 2013–june 2023)
- Figure 24 Patents For Therapeutic Ultrasound Systems (January 2013–june 2023)
- 5.11 Trade Analysis
- 5.11.1 Ultrasound Market: Trade Analysis
- Table 9 Import Data For Ultrasound Systems (Hs Code 901812), By Country, 2018–2022 (Usd)
- Table 10 Export Data For Ultrasound Systems (Hs Code 901812), By Country, 2018–2022 (Usd)
- 5.12 Key Conferences And Events
- Table 11 Ultrasound Market: List Of Key Conferences And Events (2023–2025)
- 5.13 Technology Analysis
- 5.14 Case Study Analysis
- Table 12 Case Study 1: Maintaining Strong Focus On Technological Innovation And Addressing Regulatory Compliance
- Table 13 Case Study 2: Providing Comprehensive Training Programs For Evolving Ultrasound Techniques
- 5.15 Pricing Analysis
- Table 14 Regional Price Range For Ultrasound Systems
- 6 Ultrasound Market, By Technology
- 6.1 Introduction
- Table 15 Ultrasound Market, By Technology, 2021–2028 (Usd Million)
- 6.2 Diagnostic Ultrasound
- Table 16 Diagnostic Ultrasound Market, By Type, 2021–2028 (Usd Million)
- Table 17 Diagnostic Ultrasound Market, By Region, 2021–2028 (Usd Million)
- Table 18 Diagnostic Ultrasound Market, By Display Type, 2021–2028 (Usd Million)
- Table 19 Diagnostic Ultrasound Market, By Portability, 2021–2028 (Usd Million)
- Table 20 Diagnostic Ultrasound Market, By Application, 2021–2028 (Usd Million)
- Table 21 Diagnostic Ultrasound Market, By End User, 2021–2028 (Usd Million)
- 6.2.1 2d Ultrasound
- 6.2.1.1 Strong Demand In Emerging Economies To Drive Market
- Table 22 2d Ultrasound Market, By Region, 2021–2028 (Usd Million)
- 6.2.2 3d & 4d Ultrasound
- 6.2.2.1 Greater Diagnostic Accuracy And Improved Imaging Capabilities To Boost Demand
- Table 23 3d & 4d Ultrasound Market, By Region, 2021–2028 (Usd Million)
- 6.2.3 Doppler Ultrasound
- 6.2.3.1 Growing Applications In Pain Management, Cardiovascular Imaging, And Emergency Care To Drive Market
- Table 24 Doppler Ultrasound Market, By Region, 2021–2028 (Usd Million)
- 6.2.4 Contrast-enhanced Ultrasound
- 6.2.4.1 Availability Of Technologically Advanced Instruments To Support Growth
- Table 25 Contrast-enhanced Ultrasound Market, By Region, 2021–2028 (Usd Million)
- 6.3 Therapeutic Ultrasound
- Table 26 Therapeutic Ultrasound Market, By Type, 2021–2028 (Usd Million)
- Table 27 Therapeutic Ultrasound Market, By Region, 2021–2028 (Usd Million)
- Table 28 Therapeutic Ultrasound Market, By Display Type, 2021–2028 (Usd Million)
- Table 29 Therapeutic Ultrasound Market, By Portability, 2021–2028 (Usd Million)
- Table 30 Therapeutic Ultrasound Market, By Application, 2021–2028 (Usd Million)
- Table 31 Therapeutic Ultrasound Market, By End User, 2021–2028 (Usd Million)
- 6.3.1 High-intensity Focused Ultrasound
- 6.3.1.1 Promising Results Associated With Hifu In Cancer Treatment To Drive Market
- Table 32 High-intensity Focused Ultrasound Market, By Region, 2021–2028 (Usd Million)
- 6.3.2 Extracorporeal Shockwave Lithotripsy
- 6.3.2.1 Growing Emphasis On Minimally Invasive Treatment Of Kidney & Gallbladder Stones To Drive Demand For Eswl
- Table 33 Extracorporeal Shockwave Lithotripsy Market, By Region, 2021–2028 (Usd Million)
- 7 Ultrasound Market, By Display
- 7.1 Introduction
- Table 34 Ultrasound Market, By Display Type, 2021–2028 (Usd Million)
- 7.2 Color Ultrasound Devices
- 7.2.1 Rising Availability Of Advanced Color Ultrasound Devices To Drive Market
- Table 35 Color Ultrasound Devices Market, By Region, 2021–2028 (Usd Million)
- 7.3 Black & White Ultrasound Devices
- 7.3.1 Asia Pacific Region To Show Sustained Demand
- Table 36 Black & White Ultrasound Devices Market, By Region, 2021–2028 (Usd Million)
- 8 Ultrasound Market, By Portability
- 8.1 Introduction
- Table 37 Ultrasound Market, By Portability, 2021–2028 (Usd Million)
- 8.2 Trolley/Cart-based Ultrasound Systems
- 8.2.1 Rising Usage Of Trolley-based Systems In Acute & Emergency Care To Drive Market
- Table 38 Trolley/Cart-based Ultrasound Systems Market, By Region, 2021–2028 (Usd Million)
- 8.3 Compact/Handheld Ultrasound Systems
- 8.3.1 Affordability And Procedural & Technical Benefits To Drive Market
- Table 39 Compact/Handheld Ultrasound Systems Market, By Region, 2021–2028 (Usd Million)
- 8.4 Poc Ultrasound Systems
- 8.4.1 Improved Operational And Clinical Efficacy To Boost Demand
- Table 40 Poc Ultrasound Systems Market, By Region, 2021–2028 (Usd Million)
- 9 Ultrasound Market, By Application
- 9.1 Introduction
- Table 41 Ultrasound Market, By Application, 2021–2028 (Usd Million)
- 9.2 Radiological/General Imaging Applications
- 9.2.1 Growing Number Of Image-guided Surgeries To Drive Market
- Table 42 Ultrasound Market For Radiological/General Imaging Applications, By Region, 2021–2028 (Usd Million)
- 9.3 Cardiological Applications
- 9.3.1 Rising Prevalence Of Cardiac Disorders To Drive Market
- Table 43 Ultrasound Market For Cardiological Applications, By Region, 2021–2028 (Usd Million)
- 9.4 Obstetric/Gynecological Applications
- 9.4.1 Wide Usage In Ob/Gyn Applications To Boost Growth
- Table 44 Ultrasound Market For Obstetric/Gynecological Applications, By Region, 2021–2028 (Usd Million)
- 9.5 Urological Applications
- 9.5.1 Growing Prevalence Of Urological Disorders To Support Market
- Table 45 Ultrasound Market For Urological Applications, By Region, 2021–2028 (Usd Million)
- 9.6 Vascular Applications
- 9.6.1 Vascular Applications To Witness High Growth
- Table 46 Ultrasound Market For Vascular Applications, By Region, 2021–2028 (Usd Million)
- 9.7 Orthopedic & Musculoskeletal Applications
- 9.7.1 Rising Patient Preference For Early Diagnosis To Drive Market
- Table 47 Ultrasound Market For Orthopedic & Musculoskeletal Applications, By Region, 2021–2028 (Usd Million)
- 9.8 Pain Management Applications
- 9.8.1 Increasing Use In Trauma & Emergency Care To Support Market Growth
- Table 48 Ultrasound Market For Pain Management Applications, By Region, 2021–2028 (Usd Million)
- 9.9 Other Applications
- Table 49 Ultrasound Market For Other Applications, By Region, 2021–2028 (Usd Million)
- 10 Ultrasound Market, By Component
- 10.1 Introduction
- Table 50 Ultrasound Market, By Component, 2021–2028 (Usd Million)
- 10.2 Transducers/Probes
- Table 51 Ultrasound Transducers/Probes Market, By Type, 2021–2028 (Usd Million)
- Table 52 Ultrasound Transducers/Probes Market, By Region, 2021–2028 (Usd Million)
- 10.2.1 Curvilinear/Convex Arrays
- 10.2.1.1 Growing Adoption Of Poc Ultrasound To Support Growth
- Table 53 Curvilinear/Convex Arrays Market, By Region, 2021–2028 (Usd Million)
- 10.2.2 Linear Arrays
- 10.2.2.1 Rising Target Patient Population To Drive Market
- Table 54 Linear Arrays Market, By Region, 2021–2028 (Usd Million)
- 10.2.3 Phased Arrays
- 10.2.3.1 Technological Advancements To Drive Market
- Table 55 Phased Arrays Market, By Region, 2021–2028 (Usd Million)
- 10.2.4 Other Array Types
- Table 56 Other Array Types Market, By Region, 2021–2028 (Usd Million)
- 10.3 Workstations
- 10.3.1 Growing Diagnostic Procedural Volumes To Fuel Demand For Workstations
- Table 57 Ultrasound Workstations Market, By Region, 2021–2028 (Usd Million)
- 10.4 Other Components
- Table 58 Other Ultrasound Components Market, By Type, 2021–2028 (Usd Million)
- 11 Ultrasound Market, By End User
- 11.1 Introduction
- Table 59 Ultrasound Market, By End User, 2021–2028 (Usd Million)
- 11.2 Hospitals, Surgical Centers, And Diagnostic Centers
- 11.2.1 High Procedural Volumes To Ensure Sustained Demand For Ultrasound
- Table 60 Ultrasound Market For Hospitals, Surgical Centers, And Diagnostic Centers, By Region, 2021–2028 (Usd Million)
- 11.3 Maternity Centers
- 11.3.1 Increased Adoption Of Advanced Ultrasound For Ob/Gyn Applications To Boost Growth
- Table 61 Ultrasound Market For Maternity Centers, By Region, 2021–2028 (Usd Million)
- 11.4 Ambulatory Care Centers
- 11.4.1 Increasing Emphasis On Ambulatory Care To Support Market Growth
- Table 62 Ultrasound Market For Ambulatory Care Centers, By Region, 2021–2028 (Usd Million)
- 11.5 Research & Academia
- 11.5.1 Growing Availability Of Research Grants & Funding To Drive Growth
- Table 63 Ultrasound Market For Research & Academia, By Region, 2021–2028 (Usd Million)
- 11.6 Other End Users
- Table 64 Ultrasound Market For Other End Users, By Region, 2021–2028 (Usd Million)
- 12 Ultrasound Market, By Region
- 12.1 Introduction
- Table 65 Ultrasound Market, By Region, 2021–2028 (Usd Million)
- 12.2 North America
Pricing
Currency Rates
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