Ottawa, May 03, 2023 (GLOBE NEWSWIRE) -- North America ultrasound devices market generated revenue share of 32% in 2022. Primarily, the increase is due to population growth and an increase in chronic diseases, particularly cardiovascular disease. Along with this, an increase in sports participation leads to an increase in orthopaedic surgery consultations and, as a result, an increase in imaging diagnosis. Furthermore, the advancement of technology, particularly in the healthcare sector, and the subsequent rise in medical research and development, all contribute to the growth of the ultrasound devices market.
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Segmental Landscape
Technology Landscape
The Therapeutic technology market of ultrasound devices market is expected to grow at a highest CAGR in the near future. The aging population with joint pain, muscle pain, and neurological, cardiovascular, and musculoskeletal issues is the primary driver of the therapeutic technology market's growth. Furthermore, therapeutic technology covers an array of therapies, such as ultrasound-mediated drug delivery, lithotripsy, tumour ablation, shock wave therapy, and others. Moreover, the therapeutic ultrasound market is growing due to an increase in cases of bone disorders and sports injuries, as well as people seeking natural treatment methods.
Application Landscape
The Cardiology application market of Ultrasound device market is expected to grow at a notable CAGR in the near future. Diabetes, sedentary lifestyles, smoking, increased alcohol consumption, obesity, irregular diet, and a lack of a balanced diet are just a few factors contributing to the rise in cardiovascular disease in recent years. The rising prevalence of cardiac diseases is the leading cause of death worldwide. This increases the practice of a healthy lifestyle and the early adoption of pre-clinical diagnosis and treatment. The market for ultrasound in cardiology is growing daily as people become more aware of the importance of healthcare. According to the Centres for Disease Control and Prevention data, cardiovascular disease is the most dangerous disease. As a result, the market for ultrasound devices is being driven by the cardiology market as an application.
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Scope of this report
| Report Coverage | Details |
| Market Revenue in 2032 | USD 13.27 Billion |
| North America Market Share | 32% In 2022 |
| Fastest Growing Region | Asia Pacific |
| Key Players | Koninklijke Philips N.V., Ltd., Siemens Healthineers AG, FUJIFILM SonoSite, Inc., Samsung Medison Co., Canon medical system corporation, Hologic,Inc., GE Healthcare, Terason, Analogic Corporation, Mindray Medical International Ltd. and Others |
End User Landscape
The diagnostic centres ultrasound device market is predicted to reach at a strongest CAGR in the near future. The rise in disease related to lifestyle, demand for preventive and quality healthcare services, and progressions in advanced diagnostics are the primary reasons for the rise in diagnostic centres overall. Furthermore, as the population grows, so does the demand for healthcare services in hospitals and clinics, as well as diagnostic centres and private clinics. Additionally , due to limited bandwidth and a high patient volume, hospitals may use diagnostic centres as third-party health services. As a result, the private diagnostic centre as an end user is growing due to the quality and accuracy of their results and services and accurate results and services.
Regional Landscape
Asia-Pacific is anticipated to grow in the forecast period. The public's awareness of clinical and pre-clinical diagnosis is a driving factor in market demand. Furthermore, as a result of advanced technology, the adoption rate for diagnostic imaging has increased. Besides that, the Asia-Pacific region's population is growing. China and India, for example, are the most populous countries in 2022. As the population grows, so does the number of people suffering from chronic diseases and the number of cancer cases. This ultimately improves ultrasound clinical diagnostics.
Besides that, the Government in Asia-Pacific region have started investing for the healthcare facilities specially post Covid-19 crisis. According to the healthcare system stats, few countries in Asia-Pacific are renown for glowing public health services. For example, Australia, New Zealand, and Japan all rank leading Asia-Pacific countries in terms of healthcare services. Furthermore, the Asia-Pacific region's research and development in imaging and ultrasound is increasing on a daily basis. As a result, the market is bolstered.
Market Dynamics
Drivers
Increase in prevalence in chronic diseases
The rise in the senior surgical population and the rise in chronic disorders and trauma cases in recent years is the primary reason for the surge in the ultrasound device market for pre-diagnosis. Cardiovascular diseases have risen recently and are the leading cause of death. According to WHO, cardiovascular diseases are the most common cause of death worldwide, accounting for 85% of all deaths in 2019.
Ultrasound is a powerful way to aid in the early detection and treatment of cardiovascular diseases. Furthermore, the need for pre-and post-surgical imaging during chronic disease diagnosis fuels the growth of the ultrasound device market. Additionally, as the geriatric population grows in the coming years, so will the use of ultrasound devices in disease detection.
Restraints
Inaccurate readings
Failing accuracy in the results can directly affect the patient's diagnosis and, thereby, the patient's health. Although there is an increase in the advancement of ultrasound devices and their quality, inaccurate readings and data can be a restraining factor for the market. Ultrasound is applied in many medical applications and clinical departments, and inaccuracy of the results, and these errors can result from a lack of knowledge concerning clinical and laboratory data.
According to the research done by neuro-science research, Australia, it concluded that failure to the regular calculations and calibrations the machine inaccuracy can have serious consequences, jeopardizing the patient’s safety and health.
Opportunities
Expansion in applications of ultrasound technologies.
Ultrasound is primarily used in the biomedical fields of radiology, urology, and cardiology. Furthermore, ultrasound in the food and technology industries has been seen as an efficient green technology for various food processing. Moreover, ultrasound technology is not only limited to human anatomy but is also applicable in veterinary medicine, as it uses ultrasound like human medicine. As a result, increased application of ultrasound technology may represent a good opportunity for the ultrasound technology market.
Key Developments
The key players operating in the global ultrasound device market:
- June 2022, Mindray reimagines point-of-care systems at Euro anaesthesia 2022 with the update of the New TEX20 Diagnostic Ultrasound Series. With its patient centered information, extreme image clarity, and clinical orientation workflow, this update requires changing the conventional view of POC sonography from its predecessor.
- October,2022, Mindray launches Multicenter Research in SEA & SA Ultrasound Forum
- November 2022, At RSNA 2022, Philips advances AI-powered diagnostic systems and transformative workflow solutions.
Related Reports
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- Cardiovascular Ultrasound Market Research Report 2023 to 2032
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The key players operating in the global ultrasound device market:
- Koninklijke Philips N.V.
- Samsung Medison Co., Ltd.
- Siemens Healthineers AG
- FUJIFILM SonoSite, Inc.
- GE Healthcare
- Canon medical system corporation
- Hologic,Inc.
- Terason
- Analogic Corporation
- Mindray Medical International Ltd.
Segments covered in the report.
By Technology
- Diagnostic
- Therapeutic
By Application
- Radiology
- Cardiology
- Gynaecology
- Urology
- Others
By End user
- Hospitals
- Surgical centres
- Diagnostic centres
- Others
By Region
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia Pacific
- LAMEA
- Brazil
- GCC
- Rest of LAMEA
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