Ultrasound Equipment Market is to grow by USD 2.98 billion from 2023 to 2028, North America to account for 36% of market growth- Technavio

NEW YORK, Jan. 4, 2024 /PRNewswire/ -- The ultrasound equipment market is expected to grow by USD 2.98 billion from 2023 to 2028. In addition, the momentum of the market will progress at a CAGR of 6.25% during the forecast period, according to Technavio Research. The market has been segmented by end-user (hospitals, imaging centers, research centers, and others), product type (stationary ultrasound equipment and portable ultrasound equipment), and geography (North America, Europe, Asia, and Rest of World (ROW)). North America is estimated to contribute 36% to the growth of the global market during the forecast period. The US accounts for the biggest contributor to this market. The rise is a result of the increasing use of portable ultrasound machines in both hospital and home care settings. The US dominance in the market is primarily due to revenues generated by key players, such as GE Healthcare and Siemens Healthineers.

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Company Profile:

Boston Scientific Corp., Canon Inc., Carestream Health Inc., Chison Medical Technologies Co. Ltd., ContextVision AB, Esaote Spa, FUJIFILM Corp., General Electric Co., GlobalMedia Group LLC, Healcerion Co. Ltd., Hitachi Ltd., Hologic Inc., Iljin Co. Ltd., Konica Minolta Inc., Koninklijke Philips N.V., Mindray Bio medical Electronics Co. Ltd., Samsung Electronics Co. Ltd., Shenzhen Bestman Instrument Co. Ltd., Siemens AG, SonoScape Medical Corp., Sonostar, Sumitomo Mitsui Financial Group, and Telemed Ultrasound

Boston Scientific Corp. - The company offers ultrasound equipment products, such as iLab ultrasound imaging systems, that deliver excellent IVUs /images and intuitive, efficient operation.

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Ultrasound Equipment Market: Segmentation Analysis

The market share growth by the hospitals segment will be significant during the forecast period. Two types of end users in the global market for ultrasound equipment are High-end private hospitals and state public hospitals.

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Ultrasound Equipment Market: Market Dynamics

Key Driver

• Broader applications of ultrasound equipment
• Advancements in image quality, volumetric ultrasound, and new technologies
• Focus on early diagnosis and preventive medicine

The focus on advancements in /image quality, volumetric ultrasound, and new technologies are key factors driving market growth. A number of improvements have taken place with modern ultrasound technology, including enhanced HD clarity, high fidelity transfer, one /touch image optimization, noise reduction, improved elasticity, stunning detail, and automation.

Major Trend
Integration of Artificial Intelligence (AI) into ultrasound is the primary trend shaping market growth. 

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Related Reports:

The transcranial doppler market size is estimated to grow by USD 39.74 million at a CAGR of 6.3% between 2023 and 2028. 

The 3D Ultrasound Market size is estimated to grow by USD 1,333.08 million, exhibiting a CAGR of 6.82% between 2023 and 2028.

What are the key data covered in this ultrasound equipment market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the ultrasound equipment market between 2023 and 2028.
• Precise estimation of the ultrasound equipment market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the ultrasound equipment market across North America, Europe, Asia, and ROW
• A thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of ultrasound equipment market companies.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-User

Market Segmentation by Product Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio