Contrast Enhanced Ultrasound Global Market Report 2024

The contrast enhanced ultrasound market size has grown strongly in recent years. It will grow from $1.93 billion in 2023 to $2.05 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The historical period's growth can be credited to factors such as diagnostic accuracy and sensitivity, non-invasiveness and safety, an increasing incidence of liver diseases, a global rise in the aging population, and a growing preference for non-radiation techniques.

The contrast enhanced ultrasound market size is expected to see strong growth in the next few years. It will grow to $2.54 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The anticipated growth in the forecast period is linked to factors such as the rise in cardiovascular diseases, expanding applications in pediatric imaging, a growing role in gastrointestinal imaging, increased emphasis on precision medicine, and integration with artificial intelligence. Key trends during the forecast period involve ongoing technological innovations, advancements in ultrasound technology, the widening scope of applications in oncology, integration with multimodal imaging, real-time quantitative assessment, and increased focus on pediatric applications.

The anticipated rise in the prevalence of chronic diseases is expected to drive the growth of the contrast-enhanced ultrasound market in the future. Chronic diseases are persistent medical conditions requiring ongoing management and care over an extended period. Contrast-enhanced ultrasound plays a crucial role in offering real-time, detailed images for various chronic diseases such as liver cirrhosis or vascular diseases associated with hypertension. This aids in more effective long-term management. As per a report by the National Library of Medicine in January 2023, the number of individuals aged 50 years and older with one or more chronic illnesses is projected to increase by 99.5%, reaching 142.66 million by 2050, up from 71.522 million in 2020 in the United States. Hence, the growing prevalence of chronic diseases is expected to propel the contrast-enhanced ultrasound market's growth.

The increasing number of ambulatory surgical centers is anticipated to contribute to the growth of the contrast-enhanced ultrasound market. Ambulatory Surgery Centers (ASCs) specialize in offering outpatient surgical procedures. Contrast-enhanced ultrasound (CEUS) finds application in these centers to provide real-time image guidance during minimally invasive procedures. In 2022, according to VMG Health, the total number of certified ambulatory surgical centers increased from 5,906 in 2021 to 6,028 centers in 2022. Therefore, the expanding presence of ambulatory surgical centers is expected to drive the contrast-enhanced ultrasound market's growth.

The challenge of side effects associated with contrast agents is a significant limitation hindering the growth of the contrast-enhanced ultrasound market. Ultrasound contrast agents or microbubble contrast agents enhance the visibility of ultrasound scans but raise concerns about side effects. These concerns may lead to hesitancy among patients and healthcare providers, regulatory scrutiny, the need for specialized training, patient preferences, and limitations in insurance coverage. According to the Cleveland Clinic, contrast agents used in ultrasound imaging may lead to side effects ranging from mild, such as headaches and nausea, to moderate, including severe hives and vomiting. In rare cases, severe side effects such as anaphylaxis, a life-threatening reaction, can occur. Thus, the side effects of contrast agents pose a challenge to the growth of the contrast-enhanced ultrasound market.

Major companies in the contrast-enhanced ultrasound market are focusing on developing advanced technologies, such as super-resolution contrast-enhanced ultrasound (CEUS) technology, to enhance spatial resolution. The integration of advanced technologies in contrast-enhanced ultrasound improves diagnostic capabilities, providing healthcare professionals with more detailed and accurate information about tissue and organ anatomy, function, and perfusion. In September 2023, Philips launched the Philips Microvascular Imaging Super Resolution Contrast-Enhanced Ultrasound (CEUS), utilizing advanced signal processing algorithms to enhance spatial resolution. This technology provides high-resolution images for diagnosing and treating various diseases, including cancer, liver disease, and vascular diseases.

In December 2021, GE Healthcare acquired BK Medical for $1.45 billion, aiming to strengthen its position in advanced surgical visualization within the healthcare industry. This acquisition complements GE Healthcare's pre- and post-operative ultrasound capabilities, offering a comprehensive suite of ultrasound solutions from diagnosis to treatment. BK Medical, an intraoperative imaging and surgical navigation company based in the US, includes contrast-enhanced ultrasound systems.

Major companies operating in the contrast enhanced ultrasound market report are General Electric Company, Bayer AG, Bristol-Myers Squibb Company, Siemens Healthcare GmbH, Koninklijke Philips N.V., Daiichi Sankyo Company Limited, Shenzhen Mindray Bio-Medical Electronics Co. Ltd., J.B. Chemicals and Pharmaceuticals Ltd., Canon Medical Systems, Lantheus Medical Imaging Inc., Guerbet, Bracco Diagnostic Inc., Esaote S.p.A., Trivitron Healthcare Pvt. Ltd., BK Medical Holding Company Inc., Hitachi Healthcare, Chison Medical Technology Co. Ltd., SANOCHEMIA Pharmazeutika GmbH, SuperSonic Imagine SA, FUJIFILM Visualsonics Inc., Leriva Pharma SA, Samsung Healthcare, Jodas Expoim Pvt Ltd., nanoPET Pharma GmbH, Alpinion Medical Systems, Acusphere Inc., ContextVision AB, Teratech Corporation, Solstice Pharmaceuticals B.V.

North America was the largest region in the contrast-enhanced ultrasound market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the contrast enhanced ultrasound market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the contrast-enhanced ultrasound market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Contrast-enhanced ultrasound (CEUS) is a medical imaging technique that employs contrast agents or microbubbles to improve the visibility and clarity of ultrasound images. Its application extends to imaging blood perfusion in organs and measuring blood flow rates in the heart and other bodily organs.

The primary components of contrast-enhanced ultrasound are equipment and contrast agents. Equipment encompasses the physical tools, machinery, devices, or instruments designed to perform specific tasks, operations, or functions. This category includes ultrasound machines and associated devices utilized to generate real-time images using contrast agents. These technologies involve both non-targeted and targeted approaches, catering to the needs of hospitals, clinics, and various other applications.

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

The contrast-enhanced ultrasound market consists of revenues earned by entities by providing services such as diagnostic imaging services, treatment planning services, and monitoring services. The market value includes the value of related goods sold by the service provider or included within the service offering. The contrast-enhanced ultrasound market also includes sales of transducers, injectors, guidance tools, and imaging software that are used in providing comprehensive contrast-enhanced ultrasound. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

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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