Ultrasound Market 2024-2030: Revolutionizing Medical Imaging with Advancements

Unveiling Dynamics: A Comprehensive Analysis of the Ultrasound Market Landscape

Maximize Market Research just published an in-depth market research report that provides a detailed overview of the Ultrasound Market industry. This research delves deeper beyond surface-level observations, examining main rivals, strategic assessments, and key variables influencing market dynamics. MMR's commitment to transparency is clear as they analyse market players, marketing strategies, emerging trends, and future product developments to create comprehensive and transparent market reports.

Estimated Revenue Growth:

Ultrasound Market size was valued at USD 7.24 Bn. in 2022 and the total Ultrasound revenue is expected to grow by 6.5% from 2023 to 2029, reaching nearly USD 11.25 Bn.

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Scope and Methodology: Exploring Key Drivers and Restraints

The primary purpose of the Ultrasound market study is to thoroughly evaluate the important drivers and restraints that influence significant organisations. A thorough evaluation of current competitive benchmarks and development opportunities takes precedence. The report employs a combination of quantitative and qualitative research approaches, including SWOT and PESTLE analyses, to provide a full insight of market dynamics.

Ultrasound Market Segmentation: Beyond Broad Strokes.

The analysis goes beyond broad strokes and methodically dissects market segmentation. It conducts a detailed study of segments and sub-segments, revealing the complexities of the demand chain, supply chain, and sales dynamics. Recent market shifts are summarised to provide a more comprehensive perspective.

by Technology

1. Diagnostic Ultrasound
1.1 2D Ultrasound
1.2 3D & 4D Ultrasound
1.3 Doppler Ultrasound
2. Therapeutic Ultrasound
1.1 High-Intensity Focused Ultrasound (HIFU)
1.2 Extracorporeal Shockwave Lithotripsy (ESWL)

By Technology, the Diagnostic Ultrasound devices segment is dominating the market with a 72% share. This is owing to the wide range of applications in obstetrics, cardiology, and oncology. In addition, the increasing prevalence of various lifestyle-related disorders and technological advancements are expected to boost the demand for diagnostic ultrasound devices. In addition, the world market for diagnostic ultrasound devices is likely to be driven by rising demand for improved diagnostic devices such as miniaturized 2D and 3D/4D. The segment is further sub-segmented into 2D, 3D/4D, and Doppler.

by Device Display

1. Color Ultrasound
2. B/W Ultrasound
by Portability 1. Trolley/Cart-based Ultrasound Systems
2. Compact/Handheld Ultrasound Systems
3. Point-of-care (PoC) Ultrasound Systems
by Application

1. Radiology/General Imaging Applications
2. Obstetrics/Gynecology Applications
3. Cardiology Applications
4. Urology Applications
5. Vascular Applications
6. Orthopedic and Musculoskeletal Applications
7. Pain Management Applications
8. Other Applications (hepatology, neurology, bariatric surgery, breast imaging, and emergency care, among others)

By Application, the Radiology/ general imaging Segment held the largest market share in 2022 and is expected to dominate the market with a 29% share during the forecast period. General imaging is less expensive than other applications and includes a wide range of scans that clinicians need for diagnosis and direct treatment, including scans of the abdomen, musculoskeletal system, small parts, urology, liver, thyroid, scrotum, bladder, pancreas, kidneys, spleen, and gallbladder.

by Component

1. Transducers/ Probes
1.1 Curvilinear/ Convex Array Probes
1.2 Linear Array Probes
1.3 Phased Array Probes
1.4 Other Probes
2. Workstations
3. Other components
by End User

1. Hospitals, Surgical Centers, and Diagnostic Centers
2. Maternity Centers
3. Ambulatory Care Centers
4. Research and Academia
5. Other End Users (physiotherapy clinics, independent associations, government organizations, and sports academies, among others)

By End-User, the Hospital segment held the greatest revenue share of over 39.5 % in 2022 and is expected to keep leading the ultrasound device market throughout the forecast period with the highest CAGR. The extensive usage of ultrasound equipment in medical settings and the rise in patients seeking treatment for various lifestyle-related ailments are two factors that have contributed to the segment's growth. The availability of portable systems is estimated to grow the demand for ultrasound equipment in both outpatient and inpatient settings. The demand for new installations is also likely to increase due to the rising adoption of technologically advanced imaging systems and the rising number of hospital mergers and acquisitions with other market competitors through the forecast period.

Dominance and trends across regions

As of 2023, the Asia-Pacific region has emerged as the leading force in the Ultrasound industry, accounting for a significant 48% of the overall market share. Projections indicate that this domination will last until 2029. Simultaneously, Europe is expected to have the highest compound annual growth rate (CAGR) for the projection period. The research expands its analysis to North America, South America, and the Middle East and Africa (MEA), offering a comprehensive perspective of the worldwide market landscape.

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Strategic Profiles of Key Players:

The study delves into the core of competition, presenting profiles of leading industry competitors in the Ultrasound market. These profiles offer strategic perspectives on company overviews, financial performance, product portfolios, and growth strategies. It's not just about the numbers; it's about knowing the strategic movements these players use to stay ahead.

1. GE Healthcare (US)
2. Hologic, Inc (US)
3. Integra Medical Systems LLC (US)
4. Analogic Corporation (US)
5. Carestream Health (US)
6. Medgyn Products, Inc (US)
7. United Imaging Healthcare Co., Ltd. (US)
8. Clarius Mobile Health (Canada)
9. Neusoft Corporation (China)
10. SonoScape Medical Corp. (China)
11. Mindray Medical International Limited (China)
12. Chison Medical Technologies Co., Ltd. (China)
13. CANON MEDICAL SYSTEMS CORPORATION (Japan)
14. Hitachi Ltd. (Japan)
15. FUJIFILM Holdings Corporation (Japan)
16. Konica Minolta, Inc (Japan)
17. Samsung Medison Co., Ltd. (South Korea)
18. CURA Healthcare (India)
19. Siemens Healthcare (Germany)
20. Esaote SpA (Italy)
21. Koninklijke Philips N.V. (Netherlands)

Table of Content: Ultrasound Market

Part 01: Executive Summary

Part 02: Scope of the Ultrasound Market Report

Part 03: Ultrasound Market Landscape

Part 04: Ultrasound Market Sizing

Part 05: Ultrasound Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

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Answers to Key Questions
The report addresses crucial questions in the industry:

Who commands the largest market share in the Ultrasound Market?
What patterns define the demand for the Ultrasound Market?
Where do opportunities lie within the Ultrasound Market?
How do competitors strategize within the Ultrasound Market?
What growth prospects beckon in developing countries for the Ultrasound Market?

Comprehensive Insights: Key Offerings in the Ultrasound Market Report

• PESTLE Analysis: Navigate the external macro-environmental factors influencing the market with a PESTLE analysis.
• PORTER’s Analysis: Gain a competitive edge by understanding the forces at play in the industry through a comprehensive PORTER's analysis.
• Value Chain and Supply Chain Analysis: Trace the value and supply chain intricacies, identifying key contributors and potential optimizations.
• Legal Aspects of Business by Region: Stay informed about the legal landscape, region by region, understanding potential regulatory impacts.
• Lucrative Business Opportunities with SWOT Analysis: Identify promising business opportunities and potential pitfalls through a SWOT analysis.

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