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PUBLISHER: SkyQuest | PRODUCT CODE: 1596936

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PUBLISHER: SkyQuest | PRODUCT CODE: 1596936

Ultrasound Equipment Market Size, Share, Growth Analysis, By Product (Compact, Table-top), By Application (Radiology, Cardiology), By End User (Hospitals, Clinics), By Region -Industry Forecast 2024-2031.

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Global Ultrasound Equipment Market size was valued at USD 8.90 billion in 2022 and is poised to grow from USD 9.56 billion in 2023 to USD 16.92 billion by 2031, growing at a CAGR of 7.40% during the forecast period (2024-2031).

The ultrasound market is poised for significant growth, fueled by the rising incidence of chronic and lifestyle diseases and an increasing deployment of ultrasound equipment for both diagnostic and therapeutic purposes. The demand for minimally invasive procedures continues to escalate, supported by ongoing advancements in ultrasound imaging technology, which provides cost-effective and rapid diagnostic capabilities compared to other medical imaging modalities. Moreover, ultrasound is considered a safer alternative to traditional imaging techniques as it avoids the use of magnetic fields and ionizing radiation. Its versatile applications span various medical fields, including cardiology and oncology, underscoring its expanding role in patient care. Key catalysts for market growth include innovations such as wirelessly coupled transducers, app-based ultrasound solutions, laparoscopic ultrasound, and integration with CT/MR technologies. Additionally, the rising adoption of ultrasound devices in advanced procedures like shear wave elastography and 3D imaging is contributing to this trend. A notable development in this sector occurred in March 2023 when KronosMD, INC., a subsidiary of Kronos Advanced Technologies Inc., acquired rights to patents and assets related to their 3D ultrasonic dental imaging and diagnostic equipment, highlighting the growing interest in cutting-edge ultrasound technologies. As healthcare continues to prioritize non-invasive and efficient diagnostic tools, the ultrasound market is positioned to expand further, driven by innovation and increasing healthcare demands.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Ultrasound Equipment market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Ultrasound Equipment Market Segmental Analysis

Global Ultrasound Equipment Market is segmented into Product, Application, End User, and region. By Product, the market is classified into Compact, and Table-top. Depending on the Application, it is categorized into Radiology, Gynecology, Cardiology, Point of Care, Urology, Surgery, and Others. According to End User, the market is divided into Hospitals, and Clinics. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.

Driver of the Global Ultrasound Equipment Market

The global ultrasound equipment market is being significantly propelled by the rising prevalence of chronic diseases such as cancer, heart disease, and obesity. As these conditions become increasingly common, the demand for ultrasound technology, which is essential for diagnosing and monitoring patients, grows correspondingly. This non-invasive diagnostic method allows healthcare professionals to identify abnormalities effectively and assess treatment responses. Additionally, the aging population intensifies the demand for precise diagnostic tools, further emphasizing the need for early detection and prevention strategies within healthcare systems. With organizations like the WHO forecasting a continuous rise in chronic conditions, ultrasound technology is poised to play a critical role in the market's growth.

Restraints in the Global Ultrasound Equipment Market

The Global Ultrasound Equipment market faces significant restraints primarily due to the high costs associated with both the acquisition and maintenance of the equipment. This financial burden particularly impacts resource-poor healthcare institutions, limiting their ability to adopt advanced ultrasound technologies. The continuous expenses incurred, such as software upgrades, technician training, and probe replacements, further strain budgets and divert funds from critical health services. As a result, small and medium-sized healthcare providers often find themselves unable to upgrade their equipment or resort to alternative diagnostic methods. Despite manufacturers' efforts to introduce funding options and cost-effective solutions, these high costs remain a predominant barrier to market growth.

Market Trends of the Global Ultrasound Equipment Market

The global ultrasound equipment market is witnessing a significant trend towards the rise of handheld ultrasound devices, driven by their portability, affordability, and recent technological advancements. These compact machines facilitate point-of-care diagnostics, enhancing decision-making across various healthcare settings, from outpatient clinics to emergency rooms. Innovations in battery technology and device miniaturization have further improved their mobility and performance, making them versatile for a multitude of medical applications. Additionally, the growing adoption of telemedicine is bolstering the demand for portable ultrasound solutions, as they enable remote consultations and diagnostics, ultimately enhancing access to quality healthcare services in underserved regions.

Product Code: SQMIG35A2969

Table of Contents

Introduction

  • Objectives of the Study
  • Scope of the Report
  • Definitions

Research Methodology

  • Information Procurement
  • Secondary & Primary Data Methods
  • Market Size Estimation
  • Market Assumptions & Limitations

Executive Summary

  • Global Market Outlook
  • Supply & Demand Trend Analysis
  • Segmental Opportunity Analysis

Market Dynamics & Outlook

  • Market Overview
  • Market Size
  • Market Dynamics
    • Driver & Opportunities
    • Restraints & Challenges
  • Porters Analysis & Impact
    • Competitive rivalry
    • Threat of substitute
    • Bargaining power of buyers
    • Threat of new entrants
    • Bargaining power of suppliers

Key Market Insights

  • Key Success Factors
  • Degree of Competition
  • Top Investment Pockets
  • Market Ecosystem
  • Technological Advancement
  • Regulatory Landscape
  • Value Chain Analysis
  • Case Study Analysis
  • Customer & Buying Criteria Analysis
  • PESTEL Analysis
  • Market Attractiveness Index
  • Supply Chain Analysis
  • Pricing Analysis

Global Ultrasound Equipment Market Size by Product & CAGR (2024-2031)

  • Market Overview
  • Compact
  • Table-top

Global Ultrasound Equipment Market Size by Application & CAGR (2024-2031)

  • Market Overview
  • Radiology
  • Gynecology
  • Cardiology
  • Point of Care
  • Urology
  • Surgery
  • Others

Global Ultrasound Equipment Market Size by End User & CAGR (2024-2031)

  • Market Overview
  • Hospitals
  • Clinics

Global Ultrasound Equipment Market Size & CAGR (2024-2031)

  • North America, (Product, Application, End User)
    • US
    • Canada
  • Europe, (Product, Application, End User)
    • UK
    • Germany
    • Spain
    • France
    • Italy
    • Rest of Europe
  • Asia-Pacific, (Product, Application, End User)
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America, (Product, Application, End User)
    • Brazil
    • Rest of Latin America
  • Middle East & Africa, (Product, Application, End User)
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

Competitive Intelligence

  • Top 5 Player Comparison
  • Market Positioning of Key Players, 2023
  • Strategies Adopted by Key Market Players
  • Recent Developments in the Market
  • Company Market Share Analysis, 2023
  • Company Profiles of All Key Players
    • Company Details
    • Product Portfolio Analysis
    • Company's Segmental Share Analysis
    • Revenue Y-O-Y Comparison (2021-2023)

Key Company Profiles

  • GE Healthcare
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Fujifilm SonoSite, Inc.
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Esaote
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Siemens Healthineers AG
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Canon Medical Systems
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Konica Minolta Inc.
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Mindray Medical International Limited
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Samsung Medison Co., Ltd.
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • KoninKlijke Philips N.V.
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Hitachi
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Carestream Health
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Hologic Inc.
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Mindray
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Bard Access Systems
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Zonare Medical Systems
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Neusoft Medical Systems
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Sonoscape
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • B. Braun Melsungen AG
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Stryker Corporation
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • DRE Medical
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments

Conclusion & Recommendation

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