Ultrasound Device Market Size, Share | Report 2023-2032
The global ultrasound device market was estimated at USD 8.28 billion in 2022 and it is expected to surpass around USD 12.87 billion by 2032, poised to grow at a CAGR of 4.51% from 2023 to 2032.
Key Pointers
Report Scope of the Ultrasound Device Market
| Report Coverage | Details |
| Market Size in 2022 | USD 8.28 billion |
| Revenue Forecast by 2032 | USD 12.87 billion |
| Growth rate from 2023 to 2032 | CAGR of 4.51% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
The rise in the adoption of ultrasound devices for diagnostic imaging and treatment, coupled with the increasing incidences of chronic and lifestyle-related disorders, is expected to boost the market growth. In addition, the rising demand for minimally invasive surgery and technological advancements in ultrasound imaging technology are some of the key factors driving the market. Ultrasound is considered one of the most valuable diagnostic tools in medical imaging due to the fact that it is fast and less expensive. In addition, it is safer than other imaging technologies as it does not utilize ionizing radiation and magnetic field.
The ultrasonic medical device has a wide range of diagnostic as well as therapeutic applications. Ultrasonography has become more popular for specific therapeutic applications, ranging from cardiology to oncology. The expansion of ultrasound device applications in 3D imaging, shear wave elastography, development of wireless transducers, app-based ultrasound technology, fusion with CT/MR, and laparoscopic ultrasound is set to keep the market excited for the near future. For instance, Samsung Medison collaborated with Intel for NerveTrack, a real-time nerve tracking ultrasonography technology that helps anesthesiologists detect nerves in a patient's arm and deliver anesthesia swiftly and precisely.
Furthermore, the integration of artificial intelligence (Al) to automate time-consuming processes such as quantification and selecting the best image slice from a 3-D dataset is expected to boost the market growth. Many high-end ultrasound systems now use AI, and most new systems at all levels are expected to include AI in the future. The healthcare system had faced enormous difficulties as a result of the COVID-19 pandemic. The demand for ultrasound devices was uneven during the pandemic as there were postponements in installations and a drop in manufacturing was also observed. Manufacturers had to focus on COVID essential device manufacturing and COVID tackling methods such as telehealth services, vaccination drives for employees, and others. However, the handheld ultrasound device was in high demand owing to its efficiency in treating critical care patients in crowded hospitals because of the systems’ speed, portability, and ease of use.
Key Companies & Market Share Insights
The major players are working to improve their product offerings by upgrading their products, taking advantage of important cooperation activities, and exploring acquisitions and government clearances in order to expand their customer base and gain a larger share of the overall market. For instance, in March 2021, GE Healthcare introduced Vscan Air, a wireless pocket-sized ultrasound that gives crystal clear image quality, whole-body scanning capability, and intuitive software, all in the palm of clinicians’ hands. Some of the prominent players in the global ultrasound device market include:
Ultrasound Device Market Segmentations:
By Product
By Portability
By Application
By End-use
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Ultrasound Device Market
5.1. COVID-19 Landscape: Ultrasound Device Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Ultrasound Device Market, By Product
8.1. Ultrasound Device Market, by Product, 2023-2032
8.1.1. Diagnostic Ultrasound Devices
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Therapeutic Ultrasound Devices
8.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Ultrasound Device Market, By Portability
9.1. Ultrasound Device Market, by Portability, 2023-2032
9.1.1. Handheld
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. Cart/Trolley
9.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Ultrasound Device Market, By Application
10.1. Ultrasound Device Market, by Application, 2023-2032
10.1.1. Cardiology
10.1.1.1. Market Revenue and Forecast (2020-2032)
10.1.2. Obstetrics/Gynaecology
10.1.2.1. Market Revenue and Forecast (2020-2032)
10.1.3. Vascular
10.1.3.1. Market Revenue and Forecast (2020-2032)
10.1.4. Orthopedic
10.1.4.1. Market Revenue and Forecast (2020-2032)
10.1.5. General Imaging
10.1.5.1. Market Revenue and Forecast (2020-2032)
Chapter 11. Global Ultrasound Device Market, By End-use
11.1. Ultrasound Device Market, by End-use, 2023-2032
11.1.1. Hospitals
11.1.1.1. Market Revenue and Forecast (2020-2032)
11.1.2. Imaging Centres
11.1.2.1. Market Revenue and Forecast (2020-2032)
11.1.3. Research Centres
11.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 12. Global Ultrasound Device Market, Regional Estimates and Trend Forecast
12.1. North America
12.1.1. Market Revenue and Forecast, by Product (2020-2032)
12.1.2. Market Revenue and Forecast, by Portability (2020-2032)
12.1.3. Market Revenue and Forecast, by Application (2020-2032)
12.1.4. Market Revenue and Forecast, by End-use (2020-2032)
12.1.5. U.S.
12.1.5.1. Market Revenue and Forecast, by Product (2020-2032)
12.1.5.2. Market Revenue and Forecast, by Portability (2020-2032)
12.1.5.3. Market Revenue and Forecast, by Application (2020-2032)
12.1.5.4. Market Revenue and Forecast, by End-use (2020-2032)
12.1.6. Rest of North America
12.1.6.1. Market Revenue and Forecast, by Product (2020-2032)
12.1.6.2. Market Revenue and Forecast, by Portability (2020-2032)
12.1.6.3. Market Revenue and Forecast, by Application (2020-2032)
12.1.6.4. Market Revenue and Forecast, by End-use (2020-2032)
12.2. Europe
12.2.1. Market Revenue and Forecast, by Product (2020-2032)
12.2.2. Market Revenue and Forecast, by Portability (2020-2032)
12.2.3. Market Revenue and Forecast, by Application (2020-2032)
12.2.4. Market Revenue and Forecast, by End-use (2020-2032)
12.2.5. UK
12.2.5.1. Market Revenue and Forecast, by Product (2020-2032)
12.2.5.2. Market Revenue and Forecast, by Portability (2020-2032)
12.2.5.3. Market Revenue and Forecast, by Application (2020-2032)
12.2.5.4. Market Revenue and Forecast, by End-use (2020-2032)
12.2.6. Germany
12.2.6.1. Market Revenue and Forecast, by Product (2020-2032)
12.2.6.2. Market Revenue and Forecast, by Portability (2020-2032)
12.2.6.3. Market Revenue and Forecast, by Application (2020-2032)
12.2.6.4. Market Revenue and Forecast, by End-use (2020-2032)
12.2.7. France
12.2.7.1. Market Revenue and Forecast, by Product (2020-2032)
12.2.7.2. Market Revenue and Forecast, by Portability (2020-2032)
12.2.7.3. Market Revenue and Forecast, by Application (2020-2032)
12.2.7.4. Market Revenue and Forecast, by End-use (2020-2032)
12.2.8. Rest of Europe
12.2.8.1. Market Revenue and Forecast, by Product (2020-2032)
12.2.8.2. Market Revenue and Forecast, by Portability (2020-2032)
12.2.8.3. Market Revenue and Forecast, by Application (2020-2032)
12.2.8.4. Market Revenue and Forecast, by End-use (2020-2032)
12.3. APAC
12.3.1. Market Revenue and Forecast, by Product (2020-2032)
12.3.2. Market Revenue and Forecast, by Portability (2020-2032)
12.3.3. Market Revenue and Forecast, by Application (2020-2032)
12.3.4. Market Revenue and Forecast, by End-use (2020-2032)
12.3.5. India
12.3.5.1. Market Revenue and Forecast, by Product (2020-2032)
12.3.5.2. Market Revenue and Forecast, by Portability (2020-2032)
12.3.5.3. Market Revenue and Forecast, by Application (2020-2032)
12.3.5.4. Market Revenue and Forecast, by End-use (2020-2032)
12.3.6. China
12.3.6.1. Market Revenue and Forecast, by Product (2020-2032)
12.3.6.2. Market Revenue and Forecast, by Portability (2020-2032)
12.3.6.3. Market Revenue and Forecast, by Application (2020-2032)
12.3.6.4. Market Revenue and Forecast, by End-use (2020-2032)
12.3.7. Japan
12.3.7.1. Market Revenue and Forecast, by Product (2020-2032)
12.3.7.2. Market Revenue and Forecast, by Portability (2020-2032)
12.3.7.3. Market Revenue and Forecast, by Application (2020-2032)
12.3.7.4. Market Revenue and Forecast, by End-use (2020-2032)
12.3.8. Rest of APAC
12.3.8.1. Market Revenue and Forecast, by Product (2020-2032)
12.3.8.2. Market Revenue and Forecast, by Portability (2020-2032)
12.3.8.3. Market Revenue and Forecast, by Application (2020-2032)
12.3.8.4. Market Revenue and Forecast, by End-use (2020-2032)
12.4. MEA
12.4.1. Market Revenue and Forecast, by Product (2020-2032)
12.4.2. Market Revenue and Forecast, by Portability (2020-2032)
12.4.3. Market Revenue and Forecast, by Application (2020-2032)
12.4.4. Market Revenue and Forecast, by End-use (2020-2032)
12.4.5. GCC
12.4.5.1. Market Revenue and Forecast, by Product (2020-2032)
12.4.5.2. Market Revenue and Forecast, by Portability (2020-2032)
12.4.5.3. Market Revenue and Forecast, by Application (2020-2032)
12.4.5.4. Market Revenue and Forecast, by End-use (2020-2032)
12.4.6. North Africa
12.4.6.1. Market Revenue and Forecast, by Product (2020-2032)
12.4.6.2. Market Revenue and Forecast, by Portability (2020-2032)
12.4.6.3. Market Revenue and Forecast, by Application (2020-2032)
12.4.6.4. Market Revenue and Forecast, by End-use (2020-2032)
12.4.7. South Africa
12.4.7.1. Market Revenue and Forecast, by Product (2020-2032)
12.4.7.2. Market Revenue and Forecast, by Portability (2020-2032)
12.4.7.3. Market Revenue and Forecast, by Application (2020-2032)
12.4.7.4. Market Revenue and Forecast, by End-use (2020-2032)
12.4.8. Rest of MEA
12.4.8.1. Market Revenue and Forecast, by Product (2020-2032)
12.4.8.2. Market Revenue and Forecast, by Portability (2020-2032)
12.4.8.3. Market Revenue and Forecast, by Application (2020-2032)
12.4.8.4. Market Revenue and Forecast, by End-use (2020-2032)
12.5. Latin America
12.5.1. Market Revenue and Forecast, by Product (2020-2032)
12.5.2. Market Revenue and Forecast, by Portability (2020-2032)
12.5.3. Market Revenue and Forecast, by Application (2020-2032)
12.5.4. Market Revenue and Forecast, by End-use (2020-2032)
12.5.5. Brazil
12.5.5.1. Market Revenue and Forecast, by Product (2020-2032)
12.5.5.2. Market Revenue and Forecast, by Portability (2020-2032)
12.5.5.3. Market Revenue and Forecast, by Application (2020-2032)
12.5.5.4. Market Revenue and Forecast, by End-use (2020-2032)
12.5.6. Rest of LATAM
12.5.6.1. Market Revenue and Forecast, by Product (2020-2032)
12.5.6.2. Market Revenue and Forecast, by Portability (2020-2032)
12.5.6.3. Market Revenue and Forecast, by Application (2020-2032)
12.5.6.4. Market Revenue and Forecast, by End-use (2020-2032)
Chapter 13. Company Profiles
13.1. Koninklijke Philips N.V.
13.1.1. Company Overview
13.1.2. Product Offerings
13.1.3. Financial Performance
13.1.4. Recent Initiatives
13.2. GE Healthcare
13.2.1. Company Overview
13.2.2. Product Offerings
13.2.3. Financial Performance
13.2.4. Recent Initiatives
13.3. Siemens Healthineers AG
13.3.1. Company Overview
13.3.2. Product Offerings
13.3.3. Financial Performance
13.3.4. Recent Initiatives
13.4. Canon Medical Systems
13.4.1. Company Overview
13.4.2. Product Offerings
13.4.3. Financial Performance
13.4.4. Recent Initiatives
13.5. Mindray Medical International Limited
13.5.1. Company Overview
13.5.2. Product Offerings
13.5.3. Financial Performance
13.5.4. Recent Initiatives
13.6. Samsung Medison Co., Ltd.
13.6.1. Company Overview
13.6.2. Product Offerings
13.6.3. Financial Performance
13.6.4. Recent Initiatives
13.7. FUJIFILM SonoSite, Inc.
13.7.1. Company Overview
13.7.2. Product Offerings
13.7.3. Financial Performance
13.7.4. Recent Initiatives
13.8. Konica Minolta Inc.
13.8.1. Company Overview
13.8.2. Product Offerings
13.8.3. Financial Performance
13.8.4. Recent Initiatives
13.9. Esaote
13.9.1. Company Overview
13.9.2. Product Offerings
13.9.3. Financial Performance
13.9.4. Recent Initiatives
Chapter 14. Research Methodology
14.1. Primary Research
14.2. Secondary Research
14.3. Assumptions
Chapter 15. Appendix
15.1. About Us
15.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers