Ultrasound Devices Market Assessment, By Product Type [Diagnostic Ultrasound Systems- 2D, 3D and 4D, 5D, Doppler; Therapeutic Ultrasound- High-intensity focused ultrasound, Extracorporeal shockwave lithotripsy], By Portability [Trolley/Cart-Based Ultrasound Devices, Compact/Handheld Ultrasound Devices], By Type of Devices Display [Colour Ultrasound Devices, Black and White Ultrasound Devices], By End-User [Hospitals, Diagnostic centre, Ambulatory Care Centres, Surgical Centres, Others], By Application [Radiology, Cardiology, Obstetrics & Gynecology, Gastroenterology, Urology, Others], By Distribution Channel[ Online, Offline-Distributor, Manufacturer, Others], By Region, Opportunities, and Forecast, 2016-2030F

Global Ultrasound Devices Market was valued at USD 7.74 billion in 2022 and is anticipated to witness a CAGR of 5.69% during the forecast period 2023-2030. Increased demand for less invasive diagnostic procedures, the increasing incidence of long-term illnesses coupled with usage of ultrasound technology outside standard diagnostic imaging are the major factors propelling the ultrasound devices market, globally.

Technological advancement such as incorporation of artificial intelligence (Al) while conducting time-consuming tasks have brought revolutionary changes in the medical practice. AI-based solutions are being executed to improve patient outcomes, accuracy of diagnoses and supports in decision making. The use of deep learning in medical imaging helps the patient get a smooth and personalized experience during the treatment journey.

Technological Advancements

The global ultrasound devices market has seen a significant advancement in technology in recent years. Some of the notable technological advancements that have impacted the market include, Artificial intelligence (AI) and machine learning, volumetric ultrasound which have improved the accuracy and efficiency of ultrasound scans, making them a valuable tool in the diagnosis and treatment of medical conditions. These advancements are likely to continue to shape the global ultrasound devices market in the future.

Increased Investment in Healthcare Facilities                                                         

The expansion of the global market for ultrasound equipment is being fueled by rising healthcare facility investment. Ultrasound devices are extensively used in healthcare facilities for various purposes, including diagnostic imaging, monitoring of fetal development during pregnancy, and therapeutic procedures. The global population is growing and aging, which is leading to a greater need for diagnostic imaging services to detect and monitor various health conditions. The growing investment in healthcare facilities for ultrasound devices is expected to continue driving market growth in the coming years.

Governments worldwide, are investing and sanctioning fundings for the development of healthcare facilities in rural areas of the nations to offer a healthier wellbeing to its citizens. For example, in October 2022, the U.S. Department of Agriculture (USDA) stated to grant $110 million for the improvement of medical facilities in rural areas of the country in order to improve the infrastructural facilities of the hospitals and clinics in rural areas.

Impact of COVID-19 on Global Ultrasound Devices Market

The COVID-19 pandemic has had a significant impact on the global ultrasound devices market. While the demand for ultrasound devices has increased due to the need for diagnosis and monitoring of COVID-19 patients, the supply chain disruptions and decreased patient footfall in healthcare facilities have affected the overall market. Overall, the impact of the COVID-19 pandemic on the global ultrasound devices market has been mixed. While there has been an increased demand for portable ultrasound devices, the disruptions in the supply chain and delayed elective procedures have affected the market negatively. The post-pandemic phase, however, is anticipated to put the market back on track.

Impact of Russia-Ukraine War on Global Ultrasound Devices Market

However, in general, it is unlikely that a political conflict between two countries would directly impact the global ultrasound devices market. The market for ultrasound devices is driven primarily by factors such as technological advancements, increasing demand for non-invasive diagnostic procedures, and growing prevalence of chronic diseases. While political conflicts may indirectly affect the economy and healthcare systems of the countries involved, they typically do not have a direct impact on the supply and demand of medical devices in the global market. However, it is worth noting that trade sanctions or restrictions on the import and export of medical devices could potentially have an impact on the availability and cost of ultrasound devices in certain regions.

Global Ultrasound Devices Market, Assessment, Opportunities and Forecast: Report Scope

“Global Ultrasound Devices Market Assessment, Opportunities, and Forecast, 2016-2030F”," is a comprehensive report by Markets & Data, providing in-depth analysis and assessment of the current state of affairs of the Ultrasound Devices market in Global, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, COVID-19 and Russia-Ukraine War impact, opportunities, and forecasts (2023–2030). Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business model, competitive intelligence, etc.

Report Attribute	Details
Base Year for Analysis	2022
Historical Period	2016-2022
Forecast Period	2023-2030
Projected Growth Rate	CAGR of 5.69% from 2023-2030
Revenue Forecast in FY2030	USD 11.4 Billion
Units	Revenue in USD Billion and Volume in Unit Thousands
Segments Covered	·         By Type ·         By Portability ·         By Display ·         By End-User ·         By Application ·         By Distribution channel
Regions Covered	·         North America ·         Europe ·         Latin America ·         Asia Pacific ·         Middle East and Africa
Key Companies Profiled	GE Healthcare Technologies Inc., Veradigm LLC (Allscripts Healthcare Solutions, Inc.), Mindray Medicals International Ltd., Carestream Health, Siemens Healthineers, Esaote S.P.A, Samsung Medison Co. Ltd, Konica Minolta Inc., Koninklijke Philips N.V., Chison Medical Technologies Co. Ltd.
Customization Scope	15% free report customization with purchase.
Pricing and Purchase Options	Avail the customized purchase options to fulfil your precise research needs.
Delivery Format	PDF and excel through email (subject to the license purchased)

 

In this report, Global Ultrasound Devices Market has been segmented into following categories:

1.       Global Ultrasound Devices Market, By Type

1.1.    Diagnostic Ultrasound Systems

1.1.1.2D, 3D and 4D

1.1.2.5D

1.1.3.Doppler

1.2.    Therapeutic Ultrasound

1.2.1.High-intensity focused ultrasound

1.2.2.Extracorporeal shockwave lithotripsy              

2.       Global Ultrasound Devices Market, By Portability

2.1.    Trolley/Cart-Based

2.2.    Compact/Handheld

3.       Global Ultrasound Devices Market, By Display

3.1.    Coloured

3.2.    Black and White

4.       Global Ultrasound Devices Market, By End-User

4.1.    Hospitals

4.2.    Diagnostic centres

4.3.    Ambulatory Care Centres

4.4.    Surgical Centres

4.5.    Research and Academic Institutes

4.6.    Others

5.       Global Ultrasound Devices Market, By Application

5.1.    Radiology

5.2.    Cardiology

5.3.    Obstetrics & Gynaecology

5.4.    Gastroenterology

5.5.    Urology

5.6.    Others

6.       Global Ultrasound Devices Market, By Distribution Channel

6.1.    Online

6.2.    Offline

6.2.1.Distributor

6.2.2.Manufacturer

6.2.3.Others    

7.       Global Ultrasound Devices Market, By Region

7.1.    North America

7.2.    Europe

7.3.    Latin America

7.4.    Asia Pacific

7.5.    Middle East and Africa

Key Player Landscape and Outlook

To grow their client base and capture a greater market share, the key companies are attempting to enhance their product offerings by updating their products, taking advantage of crucial collaboration activities, and exploring acquisitions and government clearances.

For Instance, in March 2021, GE Healthcare unveiled Vscan Air, a portable pocket-sized ultrasound that offers professionals a whole-body scanning capability, crystal-clear picture quality, and user-friendly software, all in the palm of their hands.

Key Players operating in Global Ultrasound Devices Market

·         GE Healthcare Technologies Inc.

·         Veradigm LLC (Allscripts Healthcare Solutions, Inc.) 

·         Mindray Medicals International Ltd.

·         Carestream Health

·         Siemens Healthineers

·         Esaote S.P.A

·         Samsung Medison Co. Ltd

·         Konica Minolta Inc.

·         Koninklijke Philips N.V.

·         Chison Medical Technologies Co. Ltd.

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