At 5.39% CAGR, Ultrasound Market Size Revenue to Cross USD 8.14 Billion by 2028 | Brandessence Market Research

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Sep 28, 2022, 07:30 ET

LONDON, Sept. 28, 2022 /PRNewswire/ -- Ultrasound Market Size is valued at USD 5.64 Billion in 2021 and Anticipated to Garner USD 8.14 Billion by 2028 with a Growing CAGR of 5.39% over the forecast period. Rising patient preference for minimally invasive procedures and increasing number of hospitals & diagnostic centers are powering the development of the market during the coming period.

Ultrasound Market Scope

The high number of incidences of target diseases and conditions is going to boost the adoption of the effective therapeutic and diagnostic procedures. The burden of the lifestyle diseases and chronic diseases has increased in the coming years. The minimally invasive therapies as well as the image-guided procedures have been increasingly adopted by the healthcare professionals and patients all over the world. The ultrasound industry has been witnessing a major shift from being the conventional diagnostic modality for the GYN/OB imaging to a therapeutic technique for the cancers, renal stones and the other clinical conditions.

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The impact of the pandemic as well as the lockdowns which were happening is definitely visible on this market. The market was also negatively impacted in the market because there were optimizing the operations for serving a high number of patients and the healthcare professionals focusing on the coronavirus pandemic. There are unfavorable changes in the regulations as well as guidelines are going to hamper the growth of the market. The closing down of the manufacturing facilities and the challenges due to the clinical trials have been impacting the overall market.

Ultrasound Market: Key Drivers

The global ultrasound market is going to see a considerable amount of growth in the coming years with the kind of technological advancements it is going to see in the field of therapeutic and diagnostic imaging, availability of the medical reimbursements for the procedures in the mature markets and the growth in the applications of the emerging techniques of ultrasound. This is driving the growth of the ultrasound market size.

Ultrasound Market: Competitive Analysis 

Ultrasound Companies:

  • Philips
  • General Electric Company
  • Siemens AG
  • Canon Medical Systems
  • Samsung Electronics
  • Hitachi, Esaote S.p.A
  • FUJIFILM Holdings Corporation
  • Shimadzu Corporation
  • Mindray Medical International Ltd.
  • Carestream
  • Analogic Corporation
  • Mobisnate
  • Hologic
  • Chison Medical Imaging.

Ultrasound Market: Segmentation Analysis

When it comes to the application, the ultrasound market has been segmented into the obstetrics/gynecology, radiology/general imaging, vascular applications, urological applications, cardiologic applications, pain management, orthopedic & musculoskeletal applications and the other applications. The application of radiology/general imaging applications segment is going to have the largest share of the ultrasound market share. There are factors like the rise in the incidences of many cancers all over the major countries, technological advancements in field of the ultrasound related treatment and diagnosis, growth in the availability of the market and the physician preference for the HIFU in the cancer treatment, increase in the usage of the ultrasound in the cancer diagnosis and the tissue biopsy and the rise in the adoption of the focused ultrasound in the disease therapies are going to drive the growth of this segment.

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Based on the end user, the hospitals surgical centers, diagnostic centers segment is going to account for a large share of the ultrasound new market. The large share of the segment may be attributed to the factors like the significant number of the ultrasound-based medical procedures performed in the hospitals in addition to the growth in the number of the hospitals across the major markets, rise in the adoption of minimally invasive diagnostic as well as the surgical procedures in the facilities. In terms of the region, the market is going to see a growth in the North American region as there is better health infrastructure along with the reimbursement policies and the prevalence of the ultrasound company.

By Product Type

  • Diagnostic Ultrasound Systems
  • 2D Imaging Systems
  • 3D & 4D Imaging Systems
  • Doppler Imaging
  • Therapeutic Ultrasound Systems
  • High-Intensity Focused Ultrasound (HIFU)
  • Extracorporeal Shockwave Lithotripsy (ESWL)

By Device Display Type

  • Color Ultrasound Devices
  • Black & White (B/W) Ultrasound Devices

By Device Portability

  • Trolley/Cart-Based Ultrasound Devices
  • Compact/Handheld Ultrasound Devices

By Application Type

  • Radiology/General Imaging
  • Obstetrics/Gynecology
  • Cardiology
  • Urology
  • Vascular
  • Others

On Special Requirement Airport Operations Market Report is also available for below region:

North America

  • U.S, Canada

Europe

  • Germany, France, U.K., Italy, Spain, Sweden, Netherlands, Turkey, Switzerland, Belgium, Rest of Europe

Asia-Pacific

  • South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC

Latin America

  • Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America

Middle East and Africa

  • Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA

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