The report "Ultrasound Market by Technology (2D,3D,Doppler,CEU,HIFU, ESWL), Display (Colour, B/W), Portability (Trolly, Compact,POC), Component (Linear, Phased array, Workstation), Application (OB/GYN, Cardiology, Ortho), End User (Hospitals) Global Forecasts to 2030", is expected to grow from USD 9.32 billion in 2024 to USD 13.87 billion in 2030, at a CAGR of 6.8% over the forecast period. Several major drivers are associated with the growth of ultrasound market such as increasing chronic diseases around the globe require early as well as accurate diagnosis tools, while governments, with health infrastructural improvements and enhancing accessibility of modern medical equipments, also aid the expansion of such a market. Also, the growing demand for minimally invasive surgeries, in which ultrasound is playing a vital role in guiding procedures, is increasing market demand. The rising number of hospitals and diagnostic centers worldwide is also spreading the use of ultrasound technology, making it more accessible and further fueling growth in the market.
Browse 478 market data Tables and 57 Figures spread through 419 Pages and in-depth TOC on "Ultrasound Market by Technology (2D,3D,Doppler,CEU,HIFU, ESWL), Display (Colour, B/W), Portability (Trolly, Compact,POC), Component (Linear, Phased array, Workstation), Application (OB/GYN, Cardiology, Ortho), End User (Hospitals) Global Forecasts to 2030"
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By display, Color ultrasound segment to command the highest growth rate during the study period
Color ultrasound shows the maximum growth rate in the market for ultrasound as it can easily produce high-resolution, real-time images to improve diagnostic efficacy for diverse applications. As the equipment can be fitted with Doppler technology, thus creating possible images of blood dynamics and other tissue movements and conditions within blood vessels, these ultrasound apparatuses are one of the most important in diagnosis cases related to cardiovascular disorder diagnosis and monitoring pregnancy in obstetrics and examining vascular disease. Increased rates of chronic diseases, particularly heart disease and diabetes that may have complications of the vessels, create the demand for color ultrasound machines.
By Application in the Ultrasound Market in 2023.
Vascular applications account for highest CAGR in 2023. With vascular diseases such as atherosclerosis, deep vein thrombosis, and peripheral artery disease increasingly diagnosed, applications for the use of ultrasound have recorded the highest growth rate in this market. Ultrasound presents a non-invasive method to evaluate blood flow in patients, detect blockages and view conditions within vessels in real time; it is an essential diagnostic tool in vascular diagnostics, being cost-effective and very precise. Technological development, such as 3D/4D imaging and Doppler ultrasound, has increased the accuracy and ability of vascular imaging that makes it increasingly popular among clinicians. Furthermore, increased awareness about vascular health due to an aging population combined with the necessity of making an early diagnosis has played a crucial role in enhancing the growth of ultrasound-based vascular applications.
Europe to account for a significant market share in the Ultrasound market in 2023.
Europe holds the largest market share in the ultrasound business for several key reasons. Strong regulation in Europe ensures that the standards for medical devices are very high and, thus, encourages trust in ultrasound technology. The second factor is that the region focuses much on innovation and research in medical imaging with significant investments in healthcare R&D. It encourages advanced ultrasound technologies. Thirdly, the massive availability of trained healthcare professionals in Europe who can use ultrasound for diagnostics will ensure effective adoption and usage. In addition to this, the demand for portable, point-of-care ultrasound devices for emergency and rural areas also is being fostered in Europe, which is thereby extending the demand for the product. Finally, the growing awareness of the benefits of ultrasound use, such as non-invasive in nature and cost-effective among health care professionals and patients, accelerates its spread throughout the region.
As of 2023, prominent players in the Ultrasound market are Philips Healthcare (Netherlands), GE Healthcare (US), Canon Medical Systems Corporation (Japan), Siemens Healthineers (Germany), FUJIFILM Holdings Corporation (Japan), among others.