North America Ultrasound Devices Market - 2024 - 2031

Report Overview

North America Ultrasound Devices Market reached US$ 3271.40 million in 2023 and is expected to reach US$ 5730.25 million by 2031, growing at a CAGR of 6.9% during the forecast period 2024-2031.

An ultrasound device employs high-frequency sound waves to see the body's interior organs. An ultrasound system includes a probe that sends high-frequency ultrasonic sound waves into the patient's body. The bodily organs then reflect these sound waves into the probe.

These transmitted waves are subsequently sent to a display system, which creates the picture via echoes. Ultrasound devices are used to see organs such as the liver, kidneys, blood arteries, heart, human fetus, and others.

Market Dynamics: Drivers & Restraints

Rising prevalence of chronic diseases

Chronic disorders such as cardiovascular disease, and cancer among others often require ongoing monitoring and diagnostic imaging to treat and monitor the progression of the disease. Ultrasound devices are commonly utilized for these reasons as they are non-invasive and can provide real-time imaging.

The increasing number of cardiovascular diseases such as stenosis could increase the demand for ultrasound devices. For instance, according to the Centers for Disease Control and Prevention in 2024, it is stated that every year, about 805,000 people in the United States have a heart attack. Of these, 605,000 are a first heart attack, and 200,000 happen to be people who have already had a heart attack. To diagnose and manage the heart condition, healthcare providers employ ultrasound devices.

Cardiology ultrasounds can detect issues with heart valves, such as stenosis or mitral or tricuspid regurgitation. These abnormalities can disrupt normal blood flow and lead to serious health problems if left untreated. Thus, the above factors are expected to drive market growth during the forecast period.

High costs of advanced ultrasound devices

Beyond the initial cost of purchase, advanced ultrasound machines frequently face additional operational and maintenance expenditures. These ongoing costs may discourage healthcare providers from investing in new technology. Hospitals and clinics have limited funds and may prioritize expenditure on other areas, such as essential or critical needs. The high cost of the latest ultrasound devices can result in a reduced allocation of funds to these technologies.

Market Segment Analysis

The North America ultrasound devices market is segmented based on type, technology, application, and end-user.

The portable ultrasound segment is expected to dominate the market share

Portable ultrasound devices hold a significant portion of the market share and are expected to continue throughout the forecast period. This is due to the increasing adoption of portable devices by healthcare providers due to their efficiency and the comfort associated with the devices. Manufacturers in the region are increasingly innovating advanced portable devices with the increasing demand for these devices

For instance, in July 2023, Mindray launched its TE Air Wireless Handheld Ultrasound, a new imaging solution that improves ultrasound accessibility. This compact, wireless technology enables healthcare professionals to carry comprehensive scanning capabilities in their pockets, adapting to a wide array of clinical scenarios.

Additionally, in December 2022, Royal Philips launched a next-generation compact portable ultrasound solution at the Radiological Society of North America (RSNA). The device delivers the premium image quality needed for a confident diagnosis in a portable unit.

Thus, introducing advanced portable ultrasound devices into the market and the efficiency maintained by these devices is expected to drive the segment's growth and expected to hold the dominant position.

Market Segmentation

By Type

Stationary Ultrasound

Portable Ultrasound

By Technology

2D Ultrasound Imaging

3D and 4D Ultrasound Imaging

Doppler Imaging

High-intensity Focused Ultrasound

By Application

Anesthesiology

Cardiology

Gynecology/Obstetrics

Musculoskeletal

Radiology

Critical Care

Other

By End-User

Hospitals

Diagnostic Centers

Specialty Clinics

Others

Market Competitive Landscape

The major players in the market include GE HealthCare, Esaote North America Inc., Butterfly Network, Inc., Philips Healthcare, Siemens Healthineers USA, Canon Medical Systems USA, Hologic, Inc., FUJIFILM Sonosite, Inc., Samsung Medison America Inc., and Mindray North America among others.

Why Purchase the Report?

To visualize the North America ultrasound devices market segmentation based on type, technology, application, and end-user, as well as understand key commercial assets and players.

Identify commercial opportunities by analyzing trends and co-development.

Excel data sheet with numerous data points of ultrasound devices market-level with all segments.

PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.

Product mapping available as Excel consisting of key products of all the major players.

The North America ultrasound devices market report would provide approximately 53 tables, 47 figures, and 176 pages.

Target Audience 2024

Manufacturers/ Buyers

Industry Investors/Investment Bankers

Research Professionals

Emerging Companies