PUBLISHER: Roots Analysis | PRODUCT CODE: 1677739
PUBLISHER: Roots Analysis | PRODUCT CODE: 1677739
As per Roots Analysis, the global ultrasound market size is estimated to grow from USD 8.9 billion in the current year to USD 16.0 billion by 2035, at a CAGR of 5.4% during the forecast period, till 2035.
The opportunity for ultrasound market has been distributed across the following segments:
Type of Product Offered
Device Portability
Device Display
Type of Technology
Application Area
End User
Geographical Regions
Leading Players
Ultrasound is a medical imaging technique, which transmits high frequency sound pulses (between 2 and 20 MHz) into the body's internal tissues using a probe, for the purpose of non-invasive diagnosis. It is used by healthcare providers in the assessment of various body parts, such as vascular scanning, cancer screening, urologic scanning, and pulmonary scanning. Notably, ultrasound imaging is predominantly being used by obstetricians to monitor the growth and development of the fetus and detect certain pregnancy complications. Over the past decades, ultrasound, often regarded as the first line of medical evaluation technique, has evolved significantly and possesses the ability to treat / manage various conditions, including musculoskeletal pathologies, guided biopsies, tumor ablation and puncture.
Notably, the Medtech industry has been witnessing a significant shift towards the development of portable ultrasound systems, in response to the challenges associated with conventional ultrasound systems, including their high maintenance and operating costs, the difficulty of transporting patients to radiology departments, the high risk of hard drive failure and battery degradation, the requirement for highly skilled personnel, and their limited uptake in developing nations. On the other hand, portable ultrasound systems, further classified as trolley / cart-based ultrasound systems and handheld / point-of-care ultrasound systems, allow patients' bedside assessment and image transmission to smartphones or tablets for visualization.
It is worth noting that, in recent years, the integration of artificial intelligence and machine learning with imaging technologies has accelerated the use of ultrasound systems for real-time accurate diagnosis, driving innovation and positioning the market for substantial growth in the forthcoming years. Further, driven by the growing research and development initiatives and the rising demand for precise imaging-based clinical diagnosis, the ultrasound market is anticipated to grow steadily in the foreseen future.
The report delves into the current state of the ultrasound market and identifies potential growth opportunities within the industry. Some key findings from the report include:
Diagnostic Ultrasound Systems are Likely to Hold the Largest Share of the Ultrasound Market During the Forecast Period
Based on the type of product offered, the global market is segmented into diagnostic ultrasound systems and therapeutic ultrasound systems. Currently, diagnostic ultrasound systems are likely to dominate and drive the overall market growth. This can be attributed to the ability of this system to generate real-time diagnostic imaging of body parts at a rapid rate.
Handheld Ultrasound Market Segment is the Fastest Growing Segment of the Ultrasound Market
Based on the type of portability, the global ultrasound market is distributed into trolley / cart-based ultrasound devices and handheld / point-of-care ultrasound devices. Whilst the trolley / cart-based segment holds the majority of the market share, it is worth noting that the handheld segment is likely to grow at a relatively higher CAGR during the forecast period. This is due to the fact that handled ultrasound systems offer an easy user interface and improved image processing capabilities.
By Device Display, Colored Display Segment is Likely to Dominate the Market During the Forecast Period
Based on the device display, the global ultrasound market is segmented into colored, and black / white display. Notably, owing to the capability of providing improved visualization of blood flow and tissue perfusion compared to black and white displays, it is likely to dominate the ultrasound market during the forecast period.
Ultrasound Market for 3D / 4D Technology is Likely to Grow at a Higher CAGR During the Forecast Period
Based on the type of technology, the global market is segmented across 2D technology, 3D / 4D technology, doppler imaging technology, contrast enhanced ultrasound technology, high intensity focused ultrasound technology and extracorporeal shockwave lithotripsy technology. Currently, 2D technology holds a larger share of the overall market. However, this trend is likely to change during the forecast period, owing to the capability of 3D / 4D imaging to provide a comprehensive view of anatomy, allowing for better identification of abnormalities and improved diagnostic accuracy.
By Application Area, Ultrasound Systems for Radiology / General Imaging are Likely to Dominate the Market During the Forecast Period
Based on the application area, the global market for ultrasound is distributed across different application areas, such as radiology / general imaging, cardiology, obstetrics / gynecology, urology, musculoskeletal systems and other application areas. It is worth highlighting that the radiology / general imaging segment holds the maximum share, and this trend is likely to remain unchanged in the future. This can be attributed to the fact that the combination of wide applicability, safety, affordability, and real-time imaging capabilities makes ultrasound systems a preferred choice for radiology and general imaging.
Currently, Hospitals Hold the Largest Share of the Ultrasound Market
Based on the end users, the global ultrasound market is segmented into hospitals, diagnostic centers, ambulatory and surgical centers, and research and academic centers. Currently, hospitals hold the largest market share. This can be attributed to the fact that ultrasound plays a critical role in facilitating quick decision-making in emergency rooms and intensive care units, thereby increasing its demand within these settings. Further, the high market share for ultrasound technology in hospitals is driven by their high patients' count across multiple specialties.
North America Accounts for the Largest Share of the Market
Based on geographical regions, the market is segmented into North America, Europe, Asia-Pacific, Middle East and North Africa, and Latin America. In the current scenario, North America is likely to capture the largest market share, and this trend is likely to remain unchanged in the future. The vast adoption of ultrasound systems in North America can be attributed to the rising prevalence of chronic diseases, advanced healthcare infrastructure, along with high healthcare spending in this region.
The report on Ultrasound Market features insights on various sections, including: