Dublin, Aug. 28, 2023 (GLOBE NEWSWIRE) -- The "Ultrasound Device Market Size, Share & Trends Analysis Report By Product (Diagnostic, Therapeutic), By Portability (Handheld, Cart/Trolley), By Application, By End-use, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global ultrasound device market is anticipated to witness significant growth, with a projected value of USD 14.5 billion by the year 2030, at a steady Compound Annual Growth Rate (CAGR) of 4.3% during the forecast period.
Ultrasound technology, known for its efficiency in diagnosing various disorders and therapeutic applications, is expected to see increased adoption, fueled by factors such as rising demand for minimally invasive surgeries, technological advancements, and the integration of artificial intelligence.
Ultrasound for Enhanced Diagnostics and Treatment
Ultrasound technology plays a vital role in diagnosing disorders such as tumors, and it also aids in detecting changes in the appearance of organs, tissues, and arteries. The adoption of ultrasound devices for diagnosis and treatment is on the rise, driven by its effectiveness and minimally invasive nature. This trend is further supported by the introduction of innovative ultrasound technologies, such as 3D/4D ultrasound and AI integration, which automate complex processes and enhance diagnostic capabilities.
Rising Prevalence of Chronic Diseases and Therapeutic Ultrasound
The increasing prevalence of chronic diseases, including cancer, neurological conditions, orthopedic conditions, and cardiovascular diseases, is expected to drive the demand for ultrasound devices for accurate diagnosis. Furthermore, therapeutic ultrasound equipment, utilizing technologies like High-Intensity Focused Ultrasound (HIFU) and Extracorporeal Shockwave Lithotripsy (ESWL), is projected to witness growth due to the expanding applications of ultrasound techniques in therapeutic procedures.
Market Segmentation and Regional Analysis
The report provides comprehensive insights into the ultrasound device market, segmenting it based on product, portability, application, end use, and region. Key highlights include:
- Diagnostic ultrasound devices accounted for over 72.0% of revenue in 2022, with demand for improved diagnostic tools contributing to the growth.
- Cart/trolley-based devices held the largest revenue share of over 68.0% in 2022 based on portability.
- The general imaging segment dominated the application segment, holding a revenue share of more than 29.1% in 2022.
- Hospitals led the end-use segment with a revenue share of over 39.5% in 2022, attributed to the widespread use of ultrasound devices in hospital settings.
- North America accounted for the largest revenue share of over 30.0% in 2022, while the Asia Pacific region is projected to exhibit the fastest CAGR during the forecast period.
Key Market Players and Innovations
Prominent competitors in the ultrasound device market are taking strategic initiatives to expand their product portfolios and manufacturing capacities. For example, in September 2021, GE Healthcare acquired BK Medical, a leader in advanced surgical visualization. The introduction of innovative technologies such as handheld ultrasound devices, 3D/4D ultrasound, and AI integration is further expanding the market.
Companies Mentioned
- Koninklijke Philips N.V.
- GE Healthcare
- Siemens Healthineers AG
- Canon Medical Systems
- Mindray Medical International Limited
- Samsung Medison Co., Ltd.
- FUJIFILM SonoSite, Inc.,
- Konica Minolta Inc.
- Esaote
For more information about this report visit https://www.researchandmarkets.com/r/2j6027
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