Ultrasound Gels Market Size, Share, Growth, Trends, Consumption, Revenue, Company Analysis, Regional Insights and Forecast 2021-2028

Published Date : Nov 2020 | No. of Pages : 200 Pages | Category : Healthcare

The global ultrasound gels market size surpassed at US$ 320 Mn in 2020 and to reach US$ 580 Mn by 2028 with a CAGR of 7.2% from 2021 to 2028.

Medical gels are consumables used for various therapeutic and diagnostic purposes in healthcare. Ultrasound gels, ECG gels, surgical lubricant gels & catheter gels, obstetric gels, and soothing gels are various types of medical gels. Ultrasound gels act a conductive medium between the ultrasound probe and the patient’s skin, while ECG gels aid transmission of electro activity by acting as a coupling between electrodes and the skin. Catheter gels are used to lubricate catheters that are used during catheterization and surgical procedures.

Increase in number of diagnostic and surgical procedures and rise in prevalence of chronic diseases such as cardiovascular diseases, diabetes, obesity, and others are expected to drive the ultrasound gels market during the forecast period. Furthermore, rise in geriatric population is projected to support the growth of ultrasound gels market during the forecast period.According to the World Health Organization (WHO), the global geriatric population was around 524 million in 2010 and is anticipated to reach 1.5 billion by 2050. According to the U.S. Census Board, people older than 65 years represented around 13% of the total population; this percentage is expected to grow at an estimated 20% by 2030. North America held leading share of the ultrasound gels market in 2020 due to the demand for precise & accurate diagnostic procedures, increase in number of market players manufacturing sterile medical gels, and high adoption rate of sterile medical consumables during diagnostic examinations.

In Asia Pacific, the ultrasound gels market is expected to expand at a high CAGR of 7.7% from 2021 to 2028, owing to rise in awareness about use of sterile medical gels for ultrasound and ECG examinations, increase in number of local players offering a wide range of medial gels, and high volume of gynecological procedures.

Rise in Prevalence of Chronic Diseases to Drive Ultrasound Gels Market

Rise in prevalence of chronic diseases worldwide is projected to drive the ultrasound gels market during the forecast period. As per the World Health Organization (WHO), cardiovascular diseases (CVD) account for 9.4 million deaths globally each year. The number is likely to increase to 23.3 million by 2030. According to the U.S. National Library of Medicine National Institutes of Health, the prevalence of congenital heart disease in 54 countries in Africa was 300,486 cases and is one of the major pediatric health issues in the region.

Portable ECG Devices Increase Demand for ECG Gels in Homecare Settings

Lack of handy diagnostic devices at clinics has catalyzed the demand for portable ECG monitors. This trend is gaining prominence even in homecare settings. For instance, founder and lead scientist of Anusandhan Technologies, developed a next-gen portable ECG monitor and analyzer, CardioMon, to increase the availability of handy diagnostic devices. Thus, healthcare providers in the market for ultrasound gels are recommending the use of ECG gels to improve contact with electrodes that are placed directly on the body.

Does GIS Offers Better Analysis of Menorrhagia Causes than SIS?

Menorrhagia is the condition of heavy menstrual bleeding that lasts for more than seven days. Substantial prevalence of menorrhagia among women has given rise to transvaginal ultrasound paired with GIS (Gel Infusion Sonography) and SIS (Saline Infusion Sonography) to identify the causes of the deteriorating health condition. Thus, there is a demand for obstetric gels to assess results after the ultrasound procedure. Though obstetric gels do not sum up to a high revenue as compared to catheter or ECG gels in the ultrasound gels market, prevalence of menorrhagia has catalyzed the demand for obstetric gels.

The image quality of saline is found to be superior as compared to obstetric gels. However, obstetric gels are growing popular for their excellent distention properties as compared to saline in the ultrasound gels market. Thus, healthcare providers in the ultrasound gels market are recommending the combination of SIS and GIS to effectively identify and treat the causes of menorrhagia.

Companies Increase Availability of Gel Warmers and Water-based Formulations to Boost Uptake

The ultrasound gels market is largely fragmented with tier 3 players accounting for a share of ~60-70% of the market share. However, growing popularity of gel-free ultrasound procedures poses as a challenge for manufacturers in the ultrasound gels market. Hence, manufacturers are introducing gel warmers to healthcare providers who have budget-constraints, especially in developing economies. Since not all hospitals and diagnostic centers have the budget for gel-free ultrasound procedures, manufacturers are increasing the availability of gel warmers to cater to the convenience of end users.

On the other hand, manufacturers are innovating in water-based formulations to improve outcomes in patients. These novel formulations are being increasingly used as lubricants and ultrasound scanning gels. As such, the ultrasound gels product segment of the ultrasound gels market is projected for exponential growth during the forecast period. This segment is anticipated to reach a value of ~US$ 300 Mn by 2027. In order to boost the uptake of ultrasound gels, manufacturers are increasing awareness about gels manufactured using filtered water.

Increase in Demand for Sterile Ultrasound

In terms of type, the ultrasound gels market has been segmented into sterile and non-sterile. The non-sterile segment accounted for a major market share in 2020. The sterile segment is projected to gain significant growth, owing to increase in demand for sterile ultrasound and obstetric gels, rise in focus on hospital-acquired infection, and increase in number of healthcare providers offering specialty care services.

Rise in Number of Ultrasound Procedures to Drive Demand for Ultrasound Gels

In terms of product, the ultrasound gels market has been segmented into ultrasound gels, ECG gels, surgical lubricant gels & catheter gels, obstetric gels, and soothing gels. The ultrasound gels segment accounted for a major market share in 2020. Use of sterile ultrasound gels, increase in number ultrasound procedures, and rise in awareness about disadvantages of using non-sterile gels are various factors that are likely to drive the ultrasound gels segment during the forecast period. Increase in volume of pregnancies in developing countries such as India and China and high expenditure on women’s health are anticipated to fuel the growth of the ultrasound gels market.

Diagnostic Centers to be Major End User of Ultrasound Gels

Based on end user, the ultrasound gels market has been categorized into hospitals, clinics, diagnostic centers, and ambulatory surgical centers. The diagnostic centers segment is likely to gain a significant market share by 2028. Growth of this segment can be attributed to increase in availability of medical consumables & devices and tie-ups by prominent market manufacturers with health care organizations to enhance customer base. Expansion of diagnostic centers in the local market, increase in number of patients referred to diagnostic centers for wide of examinations, and huge demand for sterile medical instruments and consumables including medical gels are factors projected to offer growth opportunities in ultrasound gels market.

North America to Lead Ultrasound Gels Market

In terms of region, the ultrasound gels market has been divided into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America is projected to account for a significant share of the ultrasound gels market during the forecast period, owing to significant utilization of obstetric gels, rise in number of vaginal births in the U.S., and geographical expansion by prominent companies operating in ultrasound gels market.

Growth Strategies of Key Players in Ultrasound Gels Market

Key players operating in the ultrasound gels market are Parker Laboratories, Inc., HR Pharmaceuticals, Ultragel Hungary 2000 Kft., ECO-MED PHARMACEUTICAL INC., National Therapy Products Inc., Phyto Performance Italia S.R.L, Trivitron Healthcare, CHHENNA CORPORATION, Benetechmed, Tentan AG (Schaer Pharma Services), and Medvat. Expansion of manufacturing facilities, strengthening distribution channel, and focus on increasing sales through e-Commerce are key strategies adopted by companies operating in the ultrasound gels market. In case of facility expansion, maintaining sterile conditions remains a top priority of manufactures in order to avoid product recalls in future. This helps the company to gain brand identity and a strong customer base.

Market Segmentation

Ultrasound Gels Market, by Type

  • Sterile
  • Non-sterile

Ultrasound Gels Market, by Product

  • Ultrasound Gels
  • ECG Gels
  • Surgical Lubricant Gels & Catheter Gels
  • Obstetric Gels
  • Soothing Gels

Ultrasound Gels Market, by End User

  • Hospitals
  • Clinics
  • Diagnostic Centers
  • Ambulatory Surgical Centers

Ultrasound Gels Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

Report Scope

The Ultrasound gels market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Ultrasound gels market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Ultrasound gels market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Ultrasound gels market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Ultrasound gels market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Ultrasound gels capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Ultrasound gels by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Ultrasound gels market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Ultrasound gels market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Ultrasound gels market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Ultrasound gels industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Ultrasound gels market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Ultrasound gels market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Ultrasound gels market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Ultrasound gels market. These factors have benefited the growth of the global market for Ultrasound gels. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Ultrasound gels. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Ultrasound gels are as follows:

  • History Year: 2017-2020
  • Base Year: 2020
  • Forecast Year 2021 to 2028

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included 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. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2028);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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