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Global Ultrasound Device Market, Size, Share, Forecast 2024-2030, Industry Trends, Growth, Insight, Top Companies Analysis

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    Report

  • 230 Pages
  • April 2024
  • Region: Global
  • Renub Research
  • ID: 5952089
The Global ultrasound device market is expected to reach around US$ 12.92 billion by 2030, with a CAGR of 5.61% between 2024 and 2030. According to the report, the market was valued at US$ 8.82 billion in 2023.

Ultrasound devices are increasingly used worldwide due to the rising prevalence of chronic ailments like cancer and HIV. WHO statistics in 2022 revealed staggering figures of cancer cases, with breast, lung, colon, rectum, prostate, and stomach cancers being the most prevalent types. Globocan 2020 reported approximately 1.41 million new prostate cancer cases worldwide in 2020, with projections indicating an increase to 2.24 million by 2040.

The worldwide ultrasound device industry is rising because of technological advancements and the demand for minimally invasive procedures. Ultrasound is used in various medical fields, including cardiology, obstetrics/gynecology, vascular, orthopedic, and general imaging. Cardiovascular diseases and heart ailments are significant causes of global mortality, claiming around 17.9 million lives every year. This has led to a surge in cardiac disorders, contributing to the overall market expansion.

The World Health Organization has reported that around 17.5% of adults worldwide face infertility issues, increasing the need for accessible and high-quality fertility care. The American Society of Clinical Oncology has predicted that by 2023, there will be 66,200 cases of uterine and endometrial cancer diagnoses in the US. Ultrasound devices play a vital role in the Market's growth by assessing pelvic anatomy, including the uterus, uterine lining, and bilateral ovaries.

Recent Expansion and Acquisitions in the Ultrasound Devices Market

  • In 2023, GE Healthcare confidently acquired Caption Health, an ultrasound AI vendor.
  • In 2023, DiA Imaging Analysis, a top vendor of ultrasound technology powered by AI was acquired by Philips.
  • In May 2023, National Ultrasound Inc. was acquired by Probo Medical, a top global provider of medical imaging equipment, parts, repair, and service.
  • In December 2022, Siemens Healthineers opened its first European ultrasound manufacturing facility in Košice, Slovakia. The facility initially produces 120 systems per week and will expand manufacturing capabilities for the Acuson Sequoia and the Acuson Redwood ultrasound products, impacting patient care.
  • In December 2021, GE Healthcare acquired BK Medical from Altaris Capital Partners for US$ 1.45 Billion. The deal was finalized.

United States Ultrasound Devices Market

The US is set to dominate the global ultrasound device market due to factors like rising chronic diseases, technological advancements, an aging population, and increased product launches. In 2023, The American Cancer Society Journals predicted that there would be approximately 1,958,310 new cases of cancer in the U.S., leading to an estimated 609,820 deaths. NCDs kill 41 million people every year, while new cancer cases will go up and reach by 24% in men and 21% in women by 2030. The rising adoption of ultrasound devices in the country will increase demand for diagnoses that use these devices, providing a conducive growth environment for the US ultrasound device market. Local product development activities are also expected to boost the market.

China Ultrasound Device Market

China's ultrasound device industry is anticipated to grow due to new government investment, diversifying clinical use, and a changing product mix. China's ultrasound device market is also expected to benefit from improving the quality of healthcare services in rural and metropolitan areas. The revenue growth of ultrasound in China is predicted to exceed that of other global territories. The country has a rising incidence of severe chronic diseases, rapid technological development, and an increasing geriatric population. Butterfly Network, Inc. and Ambra Health have partnered to improve the accessibility and sharing of ultrasound information across hospitals and health systems.

Ultrasound Device Market Company Analysis:

The companies leading in the global ultrasound device market are GE Healthcare, Siemens Healthcare, Philips, Canon INC., Fujifilm Holdings Corporation, Samsung Medison Co. Ltd. (Samsung Electronics Co. Ltd.), and Hitachi Ltd.

Company News:

  • Siemens Healthineers unveiled its latest ultrasound devices, the Acuson Sequoia Flagship series, at the European Congress of Radiology (ECR) 2023 in Vienna.
  • Boston Imaging launched the Hera W10 Elite in Feb 2023, an exclusive model of the Hera platform for obstetrics and gynecology, providing powerful AI tools to enhance the diagnostic experience. They're the U.S. headquarters for Samsung digital radiography and ultrasound systems.
  • In July 2023, Fujifilm launched the Sonosite ST system, a point-of-care ultrasound system designed to support procedural workflow. It features a 21-inch touchscreen interface, a 10 ' by 7.5' image area, automated setting optimization, and Auto Steep Needle Profiling. It shares the same family of transducers with Sonosite PX and Sonosite LX for compatibility.
  • Siemens Healthineers launched the ACUSON Maple Ultrasound System in Nov. 2023. It supports 15 transducers and offers 25 advanced features, including AI-powered tools that optimize efficiency. It's configurable in all clinical settings and allows rapid diagnosis and assessment.
  • Fujifilm Corporation's EG-740UT endoscopic ultrasound endoscope received regulatory approval in October 2022 and is now compatible with Fujifilm Healthcare's ARIETTA Ultrasound system.

Products - Global Ultrasound Device Market breakup in 2 viewpoints:

1. Diagnostic Ultrasound Systems
2. Therapeutic Ultrasound Systems

Portability - Global Ultrasound Device Market breakup in 2 viewpoints:

1. Trolley/Cart-based Ultrasound Devices
2. Compact/Handheld Ultrasound Devices

Application - Global Ultrasound Device Market breakup in 6 viewpoints:

1. Radiology/General Imaging
2. Cardiology
3. Gynecology
4. Vascular
5. Urology
6. Others

Display type - Global Ultrasound Device Market breakup in 2 viewpoints:

1. Color Ultrasound Devices
2. Black & White (B/W) Ultrasound Devices

End-Users - Global Ultrasound Device Market breakup in 6 viewpoints:

1. Hospitals
2. Surgical Centers
3. Diagnostic Centers
4. Maternity Centers
5. Ambulatory Care Centers
6. Academic Institutions

Country - Global Ultrasound Device Market breakup of 25 Countries:

1. North America
1.1 United States
1.2 Canada
2. Europe
2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherlands
2.8 Turkey
3. Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 South Korea
3.5 Thailand
3.6 Malaysia
3.7 Indonesia
3.8 Australia
3.9 New Zealand
4. Latin America
4.1 Brazil
4.2 Mexico
4.3 Argentina
5. Middle East & Africa
5.1 Saudi Arabia
5.2 UAE
5.3 South Africa

All the key players have been covered from 3 viewpoints:

  • Overview
  • Recent Development
  • Revenue Analysis

Company Analysis:

1. GE Healthcare
2. Siemens Healthcare
3. Philips
4. Canon INC.
5. Fujifilm Holdings Corporation
6. Samsung Medison Co. Ltd. (Samsung Electronics Co. Ltd.)
7. Hitachi Ltd.

Table of Contents

1. Introduction2. Research Methodology3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Global Ultrasound Device Market
6. Market Share - Global Ultrasound Device Analysis
6.1 By Product
6.2 By Portability
6.3 By Display Type
6.4 By Application
6.5 By End Users
6.6 By Country
7. Product - Global Ultrasound Device Market
7.1 Diagnostic Ultrasound Systems
7.2 Therapeutic Ultrasound Systems
8. Portability - Global Ultrasound Device Market
8.1 Trolley/Cart-based Ultrasound Devices
8.2 Compact/Handheld Ultrasound Devices
9. Display Type - Global Ultrasound Device Market
9.1 Color Ultrasound Devices
9.2 Black & White (B/W) Ultrasound Device
10. Application - Global Ultrasound Device Market
10.1 Radiology/General Imaging
10.2 Cardiology
10.3 Gynecology
10.4 Vascular
10.5 Urology
10.6 Others
11. End Users - Global Ultrasound Device Market
11.1 Hospitals
11.2 Surgical Centers
11.3 Diagnostic Centers
11.4 Maternity Centers
11.5 Ambulatory Care Centers
11.6 Academic Institutions
12. Country - Global Ultrasound Device Market
12.1 North America
12.1.1 United States
12.1.2 Canada
12.2 Europe
12.2.1 France
12.2.2 Germany
12.2.3 Italy
12.2.4 Spain
12.2.5 United Kingdom
12.2.6 Belgium
12.2.7 Netherlands
12.2.8 Turkey
12.3 Asia Pacific
12.3.1 China
12.3.2 Japan
12.3.3 India
12.3.4 South Korea
12.3.5 Thailand
12.3.6 Malaysia
12.3.7 Indonesia
12.3.8 Australia
12.3.9 New Zealand
12.4 Latin America
12.4.1 Brazil
12.4.2 Mexico
12.4.3 Argentina
12.5 Middle East & Africa
12.5.1 Saudi Arabia
12.5.2 UAE
12.5.3 South Africa
13. Porter’s Five Analysis - Global Ultrasound Device Market
13.1 Bargaining Power of Buyers
13.2 Bargaining Power of Suppliers
13.3 Degree of Rivalry
13.4 Threat of New Entrants
13.5 Threat of Substitutes
14. SWOT Analysis - Global Ultrasound Device Market
14.1 Strength
14.2 Weakness
14.3 Opportunity
14.4 Threat
15. Company Analysis
15.1 GE Healthcare
15.1.1 Overview
15.1.2 Recent Development
15.1.3 Revenue
15.2 Siemens Healthcare
15.2.1 Overview
15.2.2 Recent Development
15.2.3 Revenue
15.3 Philips
15.3.1 Overview
15.3.2 Recent Development
15.3.3 Revenue
15.4 Canon INC.
15.4.1 Overview
15.4.2 Recent Development
15.4.3 Revenue
15.5 Fujifilm Holdings Corporation
15.5.1 Overview
15.5.2 Recent Development
15.5.3 Revenue
15.6 Samsung Medison Co. Ltd. (Samsung Electronics Co. Ltd.)
15.6.1 Overview
15.6.2 Recent Development
15.6.3 Revenue
15.7 Hitachi Ltd.
15.7.1 Overview
15.7.2 Recent Development
15.7.3 Revenue
List of Figures
Figure 01: Global - Ultrasound Device Market (Billion US$), 2019-2023
Figure 02: Global - Forecast for Ultrasound Device Market (Billion US$), 2024-2030
Figure 03: Product - Diagnostic Ultrasound Systems Market (Million US$), 2019-2023
Figure 04: Product - Forecast for Diagnostic Ultrasound Systems Market (Million US$), 2024-2030
Figure 05: Product - Therapeutic Ultrasound Systems Market (Million US$), 2019-2023
Figure 06: Product - Forecast for Therapeutic Ultrasound Systems Market (Million US$), 2024-2030
Figure 07: Portability - Trolley/Cart-based Ultrasound Devices Market (Million US$), 2019-2023
Figure 08: Portability - Forecast for Trolley/Cart-based Ultrasound Devices Market (Million US$), 2024-2030
Figure 09: Portability - Compact/Handheld Ultrasound Devices Market (Million US$), 2019-2023
Figure 10: Portability - Forecast for Compact/Handheld Ultrasound Devices Market (Million US$), 2024-2030
Figure 11: Display Type - Color Ultrasound Devices Market (Million US$), 2019-2023
Figure 12: Display Type - Forecast for Color Ultrasound Devices Market (Million US$), 2024-2030
Figure 13: Display Type - Black & White (B/W) Ultrasound Device Market (Million US$), 2019-2023
Figure 14: Display Type - Forecast for Black & White (B/W) Ultrasound Device Market (Million US$), 2024-2030
Figure 15: Application - Radiology/General Imaging Market (Million US$), 2019-2023
Figure 16: Application - Forecast for Radiology/General Imaging Market (Million US$), 2024-2030
Figure 17: Application - Cardiology Market (Million US$), 2019-2023
Figure 18: Application - Forecast for Cardiology Market (Million US$), 2024-2030
Figure 19: Application - Gynecology Market (Million US$), 2019-2023
Figure 20: Application - Forecast for Gynecology Market (Million US$), 2024-2030
Figure 21: Application - Vascular Market (Million US$), 2019-2023
Figure 22: Application - Forecast for Vascular Market (Million US$), 2024-2030
Figure 23: Application - Urology Market (Million US$), 2019-2023
Figure 24: Application - Forecast for Urology Market (Million US$), 2024-2030
Figure 25: Application - Others Market (Million US$), 2019-2023
Figure 26: Application - Forecast for Others Market (Million US$), 2024-2030
Figure 27: End Users - Hospitals Market (Million US$), 2019-2023
Figure 28: End Users - Forecast for Hospitals Market (Million US$), 2024-2030
Figure 29: End Users - Surgical Centers Market (Million US$), 2019-2023
Figure 30: End Users - Forecast for Surgical Centers Market (Million US$), 2024-2030
Figure 31: End Users - Diagnostic Centers Market (Million US$), 2019-2023
Figure 32: End Users - Forecast for Diagnostic Centers Market (Million US$), 2024-2030
Figure 33: End Users - Maternity Centers Market (Million US$), 2019-2023
Figure 34: End Users - Forecast for Maternity Centers Market (Million US$), 2024-2030
Figure 35: End Users - Ambulatory Care Centers Market (Million US$), 2019-2023
Figure 36: End Users - Forecast for Ambulatory Care Centers Market (Million US$), 2024-2030
Figure 37: End Users - Academic Institutions Market (Million US$), 2019-2023
Figure 38: End Users - Forecast for Academic Institutions Market (Million US$), 2024-2030
Figure 39: United States - Ultrasound Device Market (Million US$), 2019-2023
Figure 40: United States - Forecast for Ultrasound Device Market (Million US$), 2024-2030
Figure 41: Canada - Ultrasound Device Market (Million US$), 2019-2023
Figure 42: Canada - Forecast for Ultrasound Device Market (Million US$), 2024-2030
Figure 43: France - Ultrasound Device Market (Million US$), 2019-2023
Figure 44: France - Forecast for Ultrasound Device Market (Million US$), 2024-2030
Figure 45: Germany - Ultrasound Device Market (Million US$), 2019-2023
Figure 46: Germany - Forecast for Ultrasound Device Market (Million US$), 2024-2030
Figure 47: Italy - Ultrasound Device Market (Million US$), 2019-2023
Figure 48: Italy - Forecast for Ultrasound Device Market (Million US$), 2024-2030
Figure 49: Spain - Ultrasound Device Market (Million US$), 2019-2023
Figure 50: Spain - Forecast for Ultrasound Device Market (Million US$), 2024-2030
Figure 51: United Kingdom - Ultrasound Device Market (Million US$), 2019-2023
Figure 52: United Kingdom - Forecast for Ultrasound Device Market (Million US$), 2024-2030
Figure 53: Belgium - Ultrasound Device Market (Million US$), 2019-2023
Figure 54: Belgium - Forecast for Ultrasound Device Market (Million US$), 2024-2030
Figure 55: Netherlands - Ultrasound Device Market (Million US$), 2019-2023
Figure 56: Netherlands - Forecast for Ultrasound Device Market (Million US$), 2024-2030
Figure 57: Turkey - Ultrasound Device Market (Million US$), 2019-2023
Figure 58: Turkey - Forecast for Ultrasound Device Market (Million US$), 2024-2030
Figure 59: China - Ultrasound Device Market (Million US$), 2019-2023
Figure 60: China - Forecast for Ultrasound Device Market (Million US$), 2024-2030
Figure 61: Japan - Ultrasound Device Market (Million US$), 2019-2023
Figure 62: Japan - Forecast for Ultrasound Device Market (Million US$), 2024-2030
Figure 63: India - Ultrasound Device Market (Million US$), 2019-2023
Figure 64: India - Forecast for Ultrasound Device Market (Million US$), 2024-2030
Figure 65: South Korea - Ultrasound Device Market (Million US$), 2019-2023
Figure 66: South Korea - Forecast for Ultrasound Device Market (Million US$), 2024-2030
Figure 67: Thailand - Ultrasound Device Market (Million US$), 2019-2023
Figure 68: Thailand - Forecast for Ultrasound Device Market (Million US$), 2024-2030
Figure 69: Malaysia - Ultrasound Device Market (Million US$), 2019-2023
Figure 70: Malaysia - Forecast for Ultrasound Device Market (Million US$), 2024-2030
Figure 71: Indonesia - Ultrasound Device Market (Million US$), 2019-2023
Figure 72: Indonesia - Forecast for Ultrasound Device Market (Million US$), 2024-2030
Figure 73: Australia - Ultrasound Device Market (Million US$), 2019-2023
Figure 74: Australia - Forecast for Ultrasound Device Market (Million US$), 2024-2030
Figure 75: New Zealand - Ultrasound Device Market (Million US$), 2019-2023
Figure 76: New Zealand - Forecast for Ultrasound Device Market (Million US$), 2024-2030
Figure 77: Brazil - Ultrasound Device Market (Million US$), 2019-2023
Figure 78: Brazil - Forecast for Ultrasound Device Market (Million US$), 2024-2030
Figure 79: Mexico - Ultrasound Device Market (Million US$), 2019-2023
Figure 80: Mexico - Forecast for Ultrasound Device Market (Million US$), 2024-2030
Figure 81: Argentina - Ultrasound Device Market (Million US$), 2019-2023
Figure 82: Argentina - Forecast for Ultrasound Device Market (Million US$), 2024-2030
Figure 83: Saudi Arabia - Ultrasound Device Market (Million US$), 2019-2023
Figure 84: Saudi Arabia - Forecast for Ultrasound Device Market (Million US$), 2024-2030
Figure 85: UAE - Ultrasound Device Market (Million US$), 2019-2023
Figure 86: UAE - Forecast for Ultrasound Device Market (Million US$), 2024-2030
Figure 87: South Africa - Ultrasound Device Market (Million US$), 2019-2023
Figure 88: South Africa - Forecast for Ultrasound Device Market (Million US$), 2024-2030
Figure 89: GE Healthcare - Global Revenue (Million US$), 2019-2023
Figure 90: GE Healthcare - Forecast for Global Revenue (Million US$), 2024-2030
Figure 91: Siemens Healthcare - Global Revenue (Million US$), 2019-2023
Figure 92: Siemens Healthcare - Forecast for Global Revenue (Million US$), 2024-2030
Figure 93: Philips - Global Revenue (Million US$), 2019-2023
Figure 94: Philips - Forecast for Global Revenue (Million US$), 2024-2030
Figure 95: Canon INC. - Global Revenue (Million US$), 2019-2023
Figure 96: Canon INC. - Forecast for Global Revenue (Million US$), 2024-2030
Figure 97: Fujifilm Holdings Corporation - Global Revenue (Million US$), 2019-2023
Figure 98: Fujifilm Holdings Corporation - Forecast for Global Revenue (Million US$), 2024-2030
Figure 99: Samsung Medison Co. Ltd. (Samsung Electronics Co. Ltd.) - Global Revenue (Million US$), 2019-2023
Figure 100: Samsung Medison Co. Ltd. (Samsung Electronics Co. Ltd.) - Forecast for Global Revenue (Million US$), 2024-2030
Figure 101: Hitachi Ltd. - Global Revenue (Million US$), 2019-2023
Figure 102: Hitachi Ltd. - Forecast for Global Revenue (Million US$), 2024-2030
List of Tables
Table 01: Global - Ultrasound Device Market Share by Product (Percent), 2018-2023
Table 02: Global - Forecast for Ultrasound Device Market Share by Product (Percent), 2024-2030
Table 03: Global - Ultrasound Device Market Share by Portability (Percent), 2018-2023
Table 04: Global - Forecast for Ultrasound Device Market Share by Portability (Percent), 2024-2030
Table 05: Global - Ultrasound Device Market Share by Display Type (Percent), 2018-2023
Table 06: Global - Forecast for Ultrasound Device Market Share by Display Type (Percent), 2024-2030
Table 07: Global - Ultrasound Device Market Share by Application (Percent), 2018-2023
Table 08: Global - Forecast for Ultrasound Device Market Share by Application (Percent), 2024-2030
Table 09: Global - Ultrasound Device Market Share by End User (Percent), 2018-2023
Table 10: Global - Forecast for Ultrasound Device Market Share by End User (Percent), 2024-2030
Table 11: Global - Ultrasound Device Market Share by Countries (Percent), 2018-2023
Table 12: Global - Forecast for Ultrasound Device Market Share by Countries (Percent), 2024-2030

Companies Mentioned

  • GE Healthcare
  • Siemens Healthcare
  • Philips
  • Canon INC.
  • Fujifilm Holdings Corporation
  • Samsung Medison Co. Ltd. (Samsung Electronics Co. Ltd.)
  • Hitachi Ltd.

Methodology

In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.

Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.

Primary Research

The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develop the analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth, and forecast

The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:

  • Chief executives and VPs of leading corporations specific to the industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
  • Key opinion leaders (KOLs)

Secondary Research

The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, webcasts, and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
 

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