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Ultrasound Equipment Market Report and Forecast 2023-2031

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    Report

  • 140 Pages
  • May 2023
  • Region: Global
  • Expert Market Research
  • ID: 5805799
The global ultrasound equipment market value was USD 8.3 billion in 2022, driven by the increasing improving access to medical services across the globe. The market size is anticipated to grow at a CAGR of 6.9% during the forecast period of 2023-2031 to achieve a value of USD 15 billion by 2031.

Ultrasound Equipment: Introduction

Ultrasound equipment plays a vital role in medical diagnostics by utilizing high-frequency sound waves to create images of internal body structures. It is a non-invasive and widely used imaging modality that provides real-time visualization of organs, tissues, and blood flow. Ultrasound equipment is commonly used across various medical specialties, including obstetrics and gynecology, cardiology, radiology, and emergency medicine.

Ultrasound technology offers several advantages, such as its portability, cost-effectiveness, and ability to produce images in real-time. It is commonly used for diagnostic purposes, guiding medical procedures, and monitoring treatment progress. The market for ultrasound equipment has been growing steadily, driven by factors such as the rising prevalence of chronic diseases, technological advancements, increasing healthcare expenditure, and the growing demand for point-of-care diagnostics.

Key Trends in the Ultrasound Equipment Market

Some of the key trends in the ultrasound equipment market are:
  • Advancements in Technology: The ultrasound equipment market is witnessing significant technological advancements, leading to improved image quality, enhanced diagnostic capabilities, and increased efficiency. Innovations such as 3D and 4D imaging, portable and handheld ultrasound devices, and advanced software algorithms are revolutionizing the field and expanding its applications
  • Point-of-Care Ultrasound: Point-of-care ultrasound (POCUS) has emerged as a key trend in recent years. POCUS refers to the use of ultrasound at the bedside by healthcare providers for rapid diagnosis, treatment guidance, and monitoring of patients. The portability and ease of use of modern ultrasound equipment make it an invaluable tool for point-of-care applications, especially in emergency and critical care settings
  • Growing Application in Emerging Markets: The demand for ultrasound equipment is rising in emerging markets due to increasing healthcare infrastructure, improving access to medical services, and the need for affordable diagnostic solutions. As healthcare systems in these regions expand, there is a growing focus on investing in ultrasound technology to enhance healthcare delivery and improve patient outcomes
  • Artificial Intelligence (AI) Integration: AI and machine learning are being integrated into ultrasound systems to automate and streamline image analysis, improve image interpretation, and assist in diagnosis. AI algorithms can aid in detecting abnormalities, enhancing image quality, and providing decision support to healthcare professionals

Ultrasound Equipment Market Segmentations

Market Breakup by Technology

Diagnostic Ultrasound

  • 2D Ultrasound
  • 3D and 4D Ultrasound
  • Doppler Ultrasound

Therapeutic Ultrasound

  • High-Intensity Focused Ultrasound (HIFU)
  • Extracorporeal Shockwave Lithotripsy (ESWL)

Market Breakup by Device Display

  • Colour Ultrasound
  • B/W Ultrasound

Market Breakup by Portability

  • Trolley/Cart-based Ultrasound Systems
  • Compact/Handheld Ultrasound Systems
  • Point-of-care (PoC) Ultrasound Systems

Market Breakup by Application

  • Radiology/General Imaging
  • Obstetrics/Gynecology
  • Cardiology
  • Urology
  • Vascular
  • Orthopedic and Musculoskeletal
  • Pain Management
  • Others

Market Breakup by End User

  • Hospitals, Surgical Centers, and Diagnostic Centers
  • Maternity Centers
  • Ambulatory Care Centers
  • Research and Academics
  • Others

Market Breakup by Region

North America

  • United States of America
  • Canada

Europe

  • United Kingdom
  • Germany
  • France
  • Italy
  • Others

Asia Pacific

  • China
  • Japan
  • India
  • ASEAN
  • Australia
  • Others

Latin America

  • Brazil
  • Argentina
  • Mexico
  • Others

Middle East and Africa

  • Saudi Arabia
  • United Arab Emirates
  • Nigeria
  • South Africa
  • Others

Ultrasound Equipment Market Scenario

The market is driven by factors such as the rising prevalence of chronic diseases, increasing healthcare expenditure, and advancements in ultrasound technology. The availability of advanced ultrasound systems with improved image quality, enhanced features, and portability has further fuelled market growth. These advancements enable healthcare professionals to obtain high-resolution images, perform detailed examinations, and provide accurate diagnoses.

The expanding applications of ultrasound equipment have also contributed to market growth. Besides traditional imaging applications, ultrasound is now being used in emerging areas such as musculoskeletal imaging, vascular imaging, and elastography. Additionally, the integration of artificial intelligence (AI) and machine learning technologies in ultrasound systems has paved the way for automated image analysis, improved diagnostic accuracy, and enhanced workflow efficiency.

Another key trend in the market is the growing adoption of point-of-care ultrasound (POCUS). POCUS enables healthcare providers to perform ultrasound examinations at the patient's bedside, allowing for immediate diagnosis, treatment guidance, and monitoring. The portable and handheld ultrasound devices have gained popularity due to their ease of use, mobility, and ability to deliver real-time results, making them particularly valuable in emergency and critical care settings.

The market for ultrasound equipment is also expanding in emerging markets, driven by the increasing healthcare infrastructure, improving access to medical services, and the need for cost-effective diagnostic solutions. Governments and healthcare organizations in these regions are investing in ultrasound technology to enhance healthcare delivery, particularly in remote and underserved areas.

Ultrasound Equipment Market: Competitor Landscape

The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
  • Koninklijke Philips N.V
  • GE Healthcare
  • Hitachi, Ltd
  • Siemens Healthineers AG
  • FUJIFILM Holdings Corporation
  • Hologic, Inc
  • Canon Medgyn Products, Inc
  • Samsung Medison Co., Ltd
  • Mindray Medical International Ltd.

Table of Contents

1 Preface2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Region
7 Opportunities and Challenges in the Market
8 Global Ultrasound Equipment Market Analysis
8.1 Key Industry Highlights
8.2 Global Ultrasound Equipment Historical Market (2018-2022)
8.3 Global Ultrasound Equipment Market Forecast (2023-2028)
8.4 Global Ultrasound Equipment Market by Technology
8.4.1 Diagnostic Ultrasound
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.1.4 Breakup by Diagnostic Ultrasound Type
8.4.1.4.1 2D Ultrasound
8.4.1.4.2 3D and 4D Ultrasound
8.4.1.4.3 Doppler Ultrasound
8.4.2 Therapeutic Ultrasound
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.2.4 Breakup by Therapeutic Ultrasound Type
8.4.2.4.1 High-Intensity Focused Ultrasound (HIFU)
8.4.2.4.2 Extracorporeal Shockwave Lithotripsy (ESWL)
8.5 Global Ultrasound Equipment Market by Device Display
8.5.1 Colour Ultrasound
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 B/W Ultrasound
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.6 Global Ultrasound Equipment Market by Portability
8.6.1 Trolley/Cart-based Ultrasound Systems
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Compact/Handheld Ultrasound Systems
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Point-of-care (PoC) Ultrasound Systems
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.7 Global Ultrasound Equipment Market by Application
8.7.1 Radiology/General Imaging
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Obstetrics/Gynecology
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.3 Cardiology
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2022)
8.7.3.3 Forecast Trend (2023-2028)
8.7.4 Urology
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2022)
8.7.4.3 Forecast Trend (2023-2028)
8.7.5 Vascular
8.7.5.1 Market Share
8.7.5.2 Historical Trend (2018-2022)
8.7.5.3 Forecast Trend (2023-2028)
8.7.6 Orthopaedic and Musculoskeletal
8.7.6.1 Market Share
8.7.6.2 Historical Trend (2018-2022)
8.7.6.3 Forecast Trend (2023-2028)
8.7.7 Pain Management
8.7.7.1 Market Share
8.7.7.2 Historical Trend (2018-2022)
8.7.7.3 Forecast Trend (2023-2028)
8.7.8 Others
8.8 Global Ultrasound Equipment Market by End Use
8.8.1 Hospitals, Surgical Centres, and Diagnostic Centres
8.8.1.1 Market Share
8.8.1.2 Historical Trend (2018-2022)
8.8.1.3 Forecast Trend (2023-2028)
8.8.2 Maternity Centres
8.8.2.1 Market Share
8.8.2.2 Historical Trend (2018-2022)
8.8.2.3 Forecast Trend (2023-2028)
8.8.3 Ambulatory Care Centres
8.8.3.1 Market Share
8.8.3.2 Historical Trend (2018-2022)
8.8.3.3 Forecast Trend (2023-2028)
8.8.4 Research and Academics
8.8.4.1 Market Share
8.8.4.2 Historical Trend (2018-2022)
8.8.4.3 Forecast Trend (2023-2028)
8.8.5 Others
8.9 Global Ultrasound Equipment Market by Region
8.9.1 North America
8.9.1.1 Market Share
8.9.1.2 Historical Trend (2018-2022)
8.9.1.3 Forecast Trend (2023-2028)
8.9.2 Europe
8.9.2.1 Market Share
8.9.2.2 Historical Trend (2018-2022)
8.9.2.3 Forecast Trend (2023-2028)
8.9.3 Asia Pacific
8.9.3.1 Market Share
8.9.3.2 Historical Trend (2018-2022)
8.9.3.3 Forecast Trend (2023-2028)
8.9.4 Latin America
8.9.4.1 Market Share
8.9.4.2 Historical Trend (2018-2022)
8.9.4.3 Forecast Trend (2023-2028)
8.9.5 Middle East and Africa
8.9.5.1 Market Share
8.9.5.2 Historical Trend (2018-2022)
8.9.5.3 Forecast Trend (2023-2028)
9 North America Ultrasound Equipment Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Ultrasound Equipment Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Ultrasound Equipment Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Ultrasound Equipment Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Ultrasound Equipment Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Trade Data Analysis (HS Code - 901812)
15.1 Major Importing Countries
15.1.1 By Volume
15.1.2 By Value
15.2 Major Exporting Countries
15.2.1 By Volume
15.2.2 By Value
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Koninklijke Philips N.V.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 GE Healthcare
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Hitachi, Ltd.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Siemens Healthineers AG
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 FUJIFILM Holdings Corporation
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Hologic, Inc.
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Canon Medical Systems Corporation
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Medgyn Products, Inc.
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.8 Others
17 Key Trends and Developments in the Market

Companies Mentioned

  • Koninklijke Philips N.V.
  • GE Healthcare
  • Hitachi Ltd.
  • Siemens Healthineers AG
  • FUJIFILM Holdings Corporation
  • Hologic Inc.
  • Canon Medical Systems Corporation
  • Medgyn Products Inc.

Methodology

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