As per DelveInsight, the global Ultrasound Devices Market was valued at USD 6.76 billion in 2021 and growing at a CAGR of 6.82% during the forecast period (2022 to 2027); it is expected to reach USD 10.05 billion by 2027. Some of the key factors, such as the rising incidence of severe chronic diseases (such as cardiovascular, urology, and others), rapid technological developmental activities, growing awareness for early detection, and the increasing geriatric population across the globe, are expected to contribute to the growth of the Ultrasound Devices market in the coming years.
The leading MedTech giants in the Global Ultrasound Devices Market include General Electric Company, FUJIFILM Sonosite Inc., Siemens Healthcare GmbH, Koninklijke Philips N.V., Canon Medical Systems Corporation, ESAOTE SPA, Mindray DS USA Inc., DRAMIŃSKI S. A., Konica Minolta Inc., Clarius Mobile Health Corp., TELEMED UAB, MedGyn Products Inc., Quantel Medical, Xuzhou Kaixin Electronic Instrument Co. Ltd., Promed Technology Co. Ltd., Shantou Institute of Ultrasonic Instruments Co. Ltd., SHENNONA Co. Ltd. (COMPAL), Shenzhen Lanmage Medical Technology Co. Ltd., Shenzhen Ricso Technology Co. Ltd., SonoScape Medical Corp., and others.
DelveInsight’s “Global Ultrasound Devices Market” research report provides the current and forecasted Ultrasound Devices Market size, share, and trends analysis for the next five years, upcoming innovations in the segment, and major market drivers & barriers. The report also covers the key competitors and emerging devices in the domain.
Global Ultrasound Devices Market Overview
Ultrasound imaging (sonography) uses high-frequency sound waves to view the body. Because ultrasound images are captured in real-time, they can also show the movement of the body’s internal organs and blood flowing through the blood vessels.
The “Global Ultrasound Devices Market” report provides an in-depth assessment of the market based on the segmentation such as technology (2D,3D & 4D, Doppler, High-Intensity Focused Ultrasound (HIFU)), device display (Color Ultrasound, B/W Ultrasound), portability (Stationary and Portable), application (Radiology/General Imaging, Gynecology, Cardiology, Urology, Orthopedic, Others), by end-user (Hospitals, Diagnostic Imaging Centres, others), and by Geography (North America, Europe, Asia-Pacific, and rest of the world.
As per the analysis, Portable Ultrasound Systems will hold the major share of the Global Ultrasound Devices market owing to several key benefits associated with these devices. The growing patient adoption of Portable Ultrasound Systems, quick treatment, mobility, simplicity, and high-performance, affordable and easy-to-use solutions are some of the key factors expected to contribute to the higher adoption of Portable Ultrasound Systems. Therefore, the advantages offered by the Portable Ultrasound Systems are predicted to contribute to the increasing demand, thereby driving the growth of the overall Ultrasound Devices market during the forecast period.
Ultrasound Devices Market Analysis
As per DelveInsight, the Ultrasound Devices market is expected to grow in the coming years owing to the rise in product demand. In addition to chronic diseases, the rising prevalence of cancers is another important factor stimulating market growth. Ultrasound Devices have a consistently strong demand these days in the field of medical imaging, as an ultrasound helps doctors look for tumors in certain areas of the body that don’t show up well on X-rays.
As per WHO 2020, the leading cause of death worldwide was cancer which accounted for nearly 10 million deaths in 2020. According to Cancer Research UK 2018, there will be 27.5 million new cancer cases worldwide annually by 2040. Early detection of cancer is essential for a cure because survival is dependent on the treatment pathway for the disease. With a proper scan, the diagnosis becomes better. Therefore, the increasing prevalence of cancer is projected to result in the growing demand for the devices, thereby contributing to the growth of the Ultrasound Devices market during the forecast period.
Additionally, innovation in product development and new techniques, such as 3D or 4D imaging, Real-time processing, and no radiation risks, will lead to the growing adoption of minimally invasive procedures worldwide. Several key manufacturers are actively involved in developing new devices, which may result in the higher market growth in the coming years. However, stringent regulatory approval and recent product recalls may hamper the Ultrasound Devices market growth.
The COVID-19 outbreak has slowed down the overall Ultrasound Devices market, which has led to a temporary halt in the screening process for various disorders. The imposing of lockdown restrictions have also affected the Ultrasound Devices Market. However, as everything is getting normalized, the Ultrasound Devices demand is expected to get escalate in the coming years, thereby driving the market growth.
Interested to know more about the ongoing developments in the Global Ultrasound Devices Market? Visit to get an in-depth insight into Ultrasound Devices Types and Emerging Products
Ultrasound Devices – Global Market Assessment and Forecast
North America is expected to hold the major share in the Global Ultrasound Devices market in the coming years. Some of the key factors, such as the rising incidence of severe chronic diseases such as cardiovascular, oncology, and others, will lead to the increasing demand for diagnoses that make use of Ultrasound Devices. Rapid technological developmental activities, growing awareness for early detection, growing incidences of the aging population, and increased product launches will also propel the growth of the North America Ultrasound Devices Market.
Moreover, the high disposable income, sophisticated healthcare infrastructure, and increased awareness regarding disease progression will also stimulate the Ultrasound Devices market growth. Furthermore, the increased emphasis on product development activities, encouraging reimbursement policies, and the high interest of device manufacturers in accessing local markets will further aid in the growth of the regional markets for Ultrasound Devices.
Interested in knowing how the Global Ultrasound Devices Market will grow by 2027? Click to get a snapshot of Ultrasound Devices Market Trends and Developments
Ultrasound Devices Market – Key Developments and Breakthroughs
Over the years, the Ultrasound Devices Market has evolved significantly owing to the active participation of global MedTech companies and technological advancements in the domain.
- In November 2021, TELEMED Medical Systems presented MicrUs Pro Handheld USB Ultrasound, its latest PC-based ultrasound diagnostic system, at the 2021 edition of MEDICA, the world’s largest trade fair for medical technology. TELEMED is the first company worldwide to conceive an open architecture ultrasound platform based on a personal computer.
- In August 2021, Israel’s DiA received USD 14 Million to expand its AI-driven ultrasound analysis. The latest financing allowed DiA to expand its product range and yield new partnerships with ultrasound vendors, PACS/Healthcare IT companies, resellers, and distributors while continuing to build out its presence across three regional markets.
- In August 2021, the US FDA issued a 510(k) clearance for the Lexsa probe, the third hand-held scanner unveiled by EchoNous to be used as part of its artificial intelligence-powered Kosmos imaging platform. The new probe can generate ultrasound images of the lungs, vasculature, and nervous and musculoskeletal systems.
As per DelveInsight, the ongoing clinical & commercial development activities and research in the domain will contribute immensely to the Ultrasound Devices Market in the coming years.
Key Companies In the Ultrasound Devices Market
Some of the leading MedTech companies in the Ultrasound Devices market include General Electric Company (NYSE: GE), FUJIFILM Sonosite Inc., Siemens Healthcare GmbH (OTCMKTS: SMMNY), Koninklijke Philips N.V. (NYSE: PHG), Canon Medical Systems Corporation (OTCMKTS: TOSYY), ESAOTE SPA, Mindray DS USA Inc., DRAMIŃSKI S. A., Konica Minolta Inc. (OTCMKTS: KNCAY), Clarius Mobile Health Corp., TELEMED UAB, MedGyn Products Inc., Quantel Medical, Xuzhou Kaixin Electronic Instrument Co. Ltd., Promed Technology Co. Ltd., Shantou Institute of Ultrasonic Instruments Co. Ltd., SHENNONA Co. Ltd. (COMPAL), Shenzhen Lanmage Medical Technology Co. Ltd., Shenzhen Ricso Technology Co. Ltd., SonoScape Medical Corp. (SHE: 300633), and others.
As per DelveInsight, due to the very high growth rate and positive return, several new players are expected to enter the Ultrasound Devices Market in the coming years. The entry of new players and the launch of emerging products will immensely drive market growth.
Learn how new players’ entries will transform the Ultrasound Devices Market in the coming years at: Ultrasound Devices Market’ Competitive Landscape
Scope of the Ultrasound Devices Market Report:
- Geography Covered – Global
- Study Period – 2019-2027
- Ultrasound Devices Market Segmentation –
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- By Technology – 2D,3D & 4D, Doppler, High-Intensity Focused Ultrasound (HIFU)
- By Device Display – Color Ultrasound and B/W Ultrasound
- By Portability – Stationary and Portable
- By Application – Radiology/General Imaging, Gynecology, Cardiology, Urology, Orthopedic, others
- By End-User – Hospitals, Diagnostic Imaging Centres, others
- Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View
Table of Content
| 1 | Report Introduction |
| 2 | Executive summary |
| 3 | Regulatory and Patent Analysis |
| 4 | Ultrasound Devices Market Key factors analysis |
| 5 | Ultrasound Devices Porter’s Five Forces Analysis |
| 6 | COVID-19 Impact Analysis on Ultrasound Devices Market |
| 7 | Ultrasound Devices Market Layout |
| 8 | Ultrasound Devices Global Company Share Analysis – Key 3-5 Companies |
| 9 | Ultrasound Devices Product Profiles and Key Companies |
| 10 | Project Approach |
| 11 | KOL Views |
| 12 | DelveInsight Capabilities |
| 13 | Disclaimer |
| 14 | About DelveInsight |
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Key Takeaways From the Ultrasound Devices Market Report Study
- In-depth analysis of the Ultrasound Devices Market size, share, and key trends.
- Comprehensive analysis of current Ultrasound Devices Market size (2020) and market forecast for 5 years (2022-2027)
- The effect of the COVID-19 pandemic on the Ultrasound Devices Market is significant. To capture and analyze suitable indicators, our experts are closely watching the Ultrasound Devices Market.
- Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened over the last three years
- Key companies dominating the Global Ultrasound Devices Market.
- Various opportunities are available for the other competitors in the Ultrasound Devices Market space.
- What are the top-performing segments in 2020? How these segments will perform in 2027.
- Which are the top-performing regions and countries in the current Ultrasound Devices Market scenario?
- Which are the regions and countries where companies should have concentrated on opportunities for Ultrasound Devices Market growth in the coming future?
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About DelveInsight
DelveInsight is a leading Business Consultant and Market Research firm focused exclusively on life sciences. It supports Pharma companies by providing comprehensive end-to-end solutions to improve their performance.
Learn How the MedTech Devices Market is evolving with the ongoing clinical and commercial developments in the domain: MedTech and Diagnostics Market Assessment
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