Ultrasonic Technology Global Market Report 2024

The ultrasonic technology market size has grown rapidly in recent years. It will grow from $2.12 billion in 2023 to $2.4 billion in 2024 at a compound annual growth rate (CAGR) of 13.3%. Historical growth was driven by several factors, including robust economic expansion in emerging markets, increased demand from the medical sector, government initiatives fostering growth, and the rapid industrialization along with the expansion of manufacturing industries.

The ultrasonic technology market size is expected to see rapid growth in the next few years. It will grow to $4.1 billion in 2028 at a compound annual growth rate (CAGR) of 14.3%. Forecasted growth is due to increased chronic illness, an aging population, retail sector expansion, and growing concerns about food safety. Key trends include AI utilization, 3D ultrasound advancement, compact portable ultrasound launch, increased investments, product innovation, and strategic partnerships.

The anticipated growth of the ultrasonic technology market is driven by the expanding demand from the medical sector. The healthcare sector, encompassing businesses involved in medical services, equipment manufacturing, pharmaceuticals, health coverage, and other facets of healthcare provision, plays a pivotal role. In medicine, ultrasonic technology, commonly known as sonography, is extensively employed, particularly in ultrasound imaging. Moreover, ultrasound finds applications in non-destructive testing to identify concealed flaws in products and structures. As per PolicyAdvice, a notable insurance company, global healthcare spending is projected to reach $10 trillion by 2022. Exemplifying this trend, McKesson, with an annual revenue of $208.3 billion, stands as the largest healthcare firm in the United States. Consequently, the escalating demand from the medical sector significantly propels the growth of the ultrasonic technology market.

The growth of the ultrasonic technology market is further fueled by the increasing prevalence of chronic illnesses. The rising incidence of chronic diseases has led to a surge in demand for imaging tools, with ultrasound playing a crucial role in early disease detection, thereby reducing treatment costs. The frequency of chronic diseases is on the rise, resulting in elevated demand for healthcare services, including increased patient visits, hospital admissions, and surgeries. According to the National Library of Medicine, a US-based institution, the population aged 50 and older with at least one chronic disease in the USA is anticipated to surge by 99.5%, reaching 142.66 million by 2050, up from 71.522 million in 2020. Hence, the increasing prevalence of chronic illnesses is a key driver expected to propel the growth of the ultrasonic technology market in the forecast period.

A prominent trend in the ultrasound technology market is the increasing adoption of artificial intelligence (AI), revolutionizing the interpretation and utilization of medical images. AI is instrumental in converting medical images into data that is high-throughput and amenable to mining. Illustratively, in February 2023, Samsung, a South Korea-based manufacturing conglomerate, introduced the Hera W10 Elite, a women's health ultrasound system. This advanced system incorporates visualization features, AI-aided tools, and clinical applications tailored for Obstetrics and Gynecology. It offers 2D and 3D visualizations of microcirculatory and slow blood, featuring an Advanced MV (microvascular)-Flow feature and a larger organic light-emitting diode (OLED) display for improved characterization of diverse ultrasound images.

Major players in the ultrasonic technology market are strategically focusing on 3D ultrasound technology solutions as part of their growth strategies. For instance, in November 2021, Toposens, a Germany-based electronics manufacturer, launched a new ultrasonic 3D sensor featuring Infineon’s XENSIV MEMS microphone. This sensor facilitates 3D obstacle detection and collision avoidance in autonomous systems by leveraging sound, machine vision, and advanced algorithms. With applications in robotics, autonomous driving, and consumer electronics, this 3D ultrasonic sensor provides a robust, cost-effective, and accurate solution for 3D vision. Its ease of integration enables safe collision avoidance through precise 3D obstacle detection, offering a low-cost and energy-efficient alternative compared to existing industrial 3D sensors. This strategic focus on 3D ultrasound technology positions companies to meet the evolving needs of various industries.

In October 2021, Bioventus, a US medical device company, acquired Misonix for an undisclosed sum. This strategic acquisition integrates regenerative medicine and minimally invasive therapeutic ultrasonic technologies into Bioventus' portfolio. Misonix, also based in the US, specializes in providing ultrasonic technologies.

Major companies operating in the ultrasonic technology market report are Emerson Electric Co., Siemens AG, Koninklijke Philips N.V., Olympus Corporation, General Electric Company, Crest Ultrasonics Corp., Honeywell International Inc., Rockwell Automation Inc., Pepperl+Fuchs AG, Omron Corporation, Emcolite Ultrasonics, Paavan Electronic Industries, Nanjing AMIS Medical Technology Co. Ltd., Novalion Medical Instrument Co. Ltd., Guangzhou Happycare Electronics Co. Ltd., Shenzhen Bondway Electronics Co. Ltd., Guangzhou Medsinglong Medical Equipment Co. Ltd., Wuxi Haiying International Trade Co. Ltd., Tritex NDT Ltd., Teknox UK Ltd., Advanced NDT Limited, Hilsonic, Canongate Technology Ltd., Cambridge Ultrasonics, Telsonic AG, DGM, Ultratecno, Sonotec, Roop Ultrasonic, Elma Ultrasonic, L&R Ultrasonics, Coltene-Whaledent, Omegasonics, Ultrasonic Power Corporation, Sonicor, Gesswein, Brennam Machinery, Krohne Group, Contrinex, STULZ, Abdul Latif Jameel Health, PulseNmore, Dallah Health Company, Canon Medical Systems Corporation, Fujifilm Holdings Corporation, Mindray Medical International Limited, Omega Africa Agencies (Pty) Ltd., Specmed Medical Services, Autowatch, Selective Instrumentation, Controlare and Diel (Pty) Ltd.

Asia-Pacific was the largest region in the ultrasonic technology market in 2023. The regions covered in the ultrasonic technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the ultrasonic technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

Various types of ultrasound technology include ultrasonic proximity sensors, ultrasonic retro-reflective sensors, and ultrasonic through-beam sensors. Ultrasonic proximity sensors find application in packaging for object detection and distance measurement purposes. The technology branches into ultrasonic medical, processing, and testing technologies, used in welding, cleaning, inspections, and diverse applications. It is extensively employed across sectors such as automotive, food and beverage, medical and healthcare, aerospace and defense, industrial, and others.

The ultrasonic technology market research report is one of a series of new reports that provides ultrasonic technology market statistics, including ultrasonic technology industry global market size, regional shares, competitors with an ultrasonic technology market share, detailed ultrasonic technology market segments, market trends and opportunities, and any further data you may need to thrive in the ultrasonic technology industry. This ultrasonic technology market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The ultrasonic technology market includes revenues earned by entities by cubic sensors, cylindrical sensors, chemically resistant ultrasonic sensors, hygienic sensors and double sheet sensors. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.


The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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