The Europe Ultrasound Device Market was valued at US$ 2.47 Billion in 2023 and will grow to US$ 3.95 Billion by 2032, with a CAGR of 5.36% from 2024 to 2032. Growth in the market is mostly being driven by the growing use of diagnostic imaging and advancements in ultrasound imaging technology in Europe's healthcare system. Because ultrasound technology has various advantages over other technologies, including non-invasiveness, cost-effectiveness, and speedier results, it is becoming more and more popular in the healthcare industry. Furthermore, because it does not involve magnetic fields or ionizing radiation, it is safer than other imaging techniques.The Europe Ultrasound Market was US$ 2,293.7 Million in 2022
Europe Ultrasound Device Market Overview
Ultrasound devices are medical imaging tools that produce real-time images of the inside of the body by using high-frequency sound waves. The components of these devices are a transducer that produces sound waves and a computer system that decodes the echoes that the waves create when they reverberate off of interior buildings.Sonography, another name for an ultrasound scan, is a type of medical examination that uses high-frequency sound waves to create real-time images of the inside of the body. It facilitates the non-invasive diagnosis of conditions involving the testicles, uterus, pancreas, spleen, eyes, kidneys, liver, ovaries, thyroid, and blood vessels by medical specialists. Seeing a developing fetus during pregnancy is further made easier by the fact that ultrasound uses less radiation than other imaging methods.
In addition, it is employed to guide a needle for a biopsy or tumor treatment, assess metabolic bone illnesses, check the thyroid gland, look for vaginal and prostate issues, and inspect a breast lump.
Growth Factors in the Europe Ultrasound Device Industry
Growing Rate of Chronic Illnesses
Chronic diseases including diabetes, cancer, and cardiovascular disease are on the rise due to an aging global population and the global spread of lifestyle-related factors like obesity, physical inactivity, and poor nutrition. The World Health Organization (WHO) estimates that chronic illness accounts for 71% of all fatalities worldwide, with cardiovascular illnesses accounting for 17.9 million deaths annually. Because of this, prevention should be prioritized at both the early detection and routine monitoring stages. This is because the market for ultrasound equipment is developing as a result of the increasing burden of chronic diseases. They not only assist discover anomalies that would not be easily noticed otherwise, but they also make it possible to visualize inside organs without invasive surgery or expensive charges.Ultrasound waves are used in echocardiography, a form of diagnostic procedure, to create images of the heart. It is frequently used to diagnose and track cardiovascular issues, including cardiomyopathy, congenital heart abnormalities, and valve diseases. Similarly, ultrasound is frequently used in the early diagnosis and staging of various malignancies, including those of the breast, liver, and even the prostate. In the upcoming years, the market for ultrasound devices will grow due to the need for more diagnostic procedures brought on by an increase in the prevalence of chronic illnesses. Awareness of these benefits as well as the availability of advanced imaging systems that provide higher-quality images may also contribute to the market's growth. Healthcare sectors throughout the world are adopting more ultrasonic devices as a means of combating the chronic disease epidemic, which will make them key players in the global ultrasonic device market.
Acceptance of Machine Learning (ML) and Artificial Intelligence (AI) Technologies
The collection, processing, and interpretation of ultrasonography images are being revolutionized by AI and ML, which will enhance patient outcomes, workflow effectiveness, and diagnostic accuracy. Artificial intelligence algorithms can reduce the time and effort required for manual ultrasound picture interpretation by automatically analyzing the images, detecting abnormalities, and providing quantitative values. AI-enabled ultrasound systems, for example, can use ultrasound pictures to estimate the risk of breast cancer, assess the severity of carotid artery stenosis, and automatically discover and classify liver diseases. In addition to improving diagnosis speed and accuracy, these AI-assisted tools lower inter-observer variability by standardizing the interpretation of ultrasound pictures in the market for ultrasound devices.AI may also make it easier to use ultrasounds for new purposes, such as elastography, 3D imaging, and contrast-enhanced ultrasounds, which can be more useful in clinical settings and provide more diagnostic information. Production of portable handheld ultrasonography devices, intended for use at point-of-care when diagnoses must be made immediately, is also supported by the integration of artificial intelligence and machine learning techniques. This allows for immediate treatment decisions. In situations when resources are limited or in times of emergency when conventional ultrasonic equipment might not be instantly available, these devices might be extremely useful. It is anticipated that when AI/ML technology is used more widely in the ultrasound device market, new development will take place. This will produce more sophisticated, intelligent, and user-friendly systems that can improve outcomes and patient care.
Germany Ultrasound Device Market Overview:
In the worldwide ultrasound device industry, Europe accounted for a sizeable portion of the market. The superior healthcare infrastructure and technology capabilities of the region are responsible for this proportion. Modern medical facilities and substantial healthcare spending are hallmarks of the well-established healthcare systems seen in European nations. This made it easier for advanced medical technology - such as ultrasound machines - to be implemented in a variety of healthcare environments. Additionally, reimbursement systems that were beneficial and supported by regulations in European nations incentivized healthcare providers to invest in cutting-edge medical technology, such as ultrasound devices.Germany accounted for a sizeable portion of the world market for ultrasound instruments. The aging population, rising investments in cutting-edge medical technology, and expanding knowledge of the advantages of early diagnosis are all responsible for this growth. Important companies in this area are actively participating to strengthen their market positions. For example, in May 2022, Clarius Mobile Health introduced high-performance wireless ultrasound scanners in the UK and the EU. These scanners are pocket-sized and can link to both Apple and Android devices.
Europe Ultrasound Device Market Company Overview
Some of the industry leaders seen in the Europe Ultrasound Device Market Includes Fujifilm Holdings Corporation, GE Healthcare, Hitachi Medical Corporation, Philips Healthcare, Samsung, Siemens Healthcare, Canon Medical Systems Corporation, Mindray Medical International Limited.Europe Ultrasound Device Market News
- In October 2023, Razom and Butterfly Network, Inc. announced that they are expanding their global health cooperation to include the delivery of 200 Butterfly iQ+ ultrasound units to Ukrainian front-line medical personnel. This collaboration is a sign of both businesses' dedication to providing Ukraine with high-quality, easily accessible healthcare.
- In December 2022, the establishment of Siemens Healthineers AG's first ultrasound production facility in Europe was announced. The facility was designed to be utilized by the company to produce some parts of all general imaging & cardiovascular ultrasound systems, with a capacity of 120 systems per week.
- In May 2022, seven new ultra-portable wireless ultrasound scanners for Apple and Android devices have achieved CE mark approval from Clarius.
Application - Market breakup in 6 viewpoints:
- Anesthesiology
- Cardiology
- Gynecology/Obstetrics
- Musculoskeletal
- Vascular
- Others
Technology - Market breakup in 4 viewpoints:
- 2D Ultrasound Imaging
- 3D and 4D Ultrasound Imaging
- Doppler Imaging
- High-intensity Focused Ultrasound
Types - Market breakup in 2 viewpoints:
- Stationary Ultrasound
- Portable Ultrasound
End Users - Market breakup in 3 viewpoints:
- Hospitals
- Diagnostic Centers
- Other End Users
Country - Market breakup in 6 viewpoints:
Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Rest of Europe
The key players have been covered from 4 viewpoints:
- Overviews
- Recent Developments
- Product Portfolio & Product Launch in Last 1 Year
- Revenue
Company Analysis:
- Fujifilm Holdings Corporation
- GE Healthcare
- Hitachi Medical Corporation
- Philips Healthcare
- Samsung
- Siemens Healthcare
- Canon Medical Systems Corporation
- Mindray Medical International Limited
Table of Contents
1. Introduction2. Research Methodology3. Executive Summary5. Europe Ultrasound Device Market
4. Market Dynamic
6. Market Share Analysis
7. Application
8. Technology
9. Types
10. End User
11. Country
12. Porter's Five Forces Analysis
13. SWOT Analysis
14. Key Players Analysis
Companies Mentioned
- Fujifilm Holdings Corporation
- GE Healthcare
- Hitachi Medical Corporation
- Philips Healthcare
- Samsung
- Siemens Healthcare
- Canon Medical Systems Corporation
- Mindray Medical International Limited
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 140 |
| Published | August 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 2.47 Billion |
| Forecasted Market Value ( USD | $ 3.95 Billion |
| Compound Annual Growth Rate | 5.3% |
| Regions Covered | Europe |
| No. of Companies Mentioned | 8 |
