Dublin, May 03, 2024 (GLOBE NEWSWIRE) -- The "Global Ultrasound Device Market, Size, Share, Forecast 2024-2030, Industry Trends, Growth, Insight, Top Companies Analysis" report has been added to ResearchAndMarkets.com's offering.
The global ultrasound device market is poised for substantial growth, with projections indicating that the market will achieve a compound annual growth rate (CAGR) of 5.61% from 2024 to 2030. The market, valued at US$ 8.82 billion in 2023, is expected to reach approximately US$ 12.92 billion by the end of the decade.
The demand for ultrasound devices is surging due to the global rise in chronic health conditions, such as cancer and cardiovascular diseases. Ultrasound technology plays a critical role in the diagnosis and management of these conditions, making it a cornerstone of modern medical imaging.
Rising Prevalence of Chronic Diseases Fueling Market Growth
The significant impact of chronic diseases like cancer on public health is a major driver for market growth. With an increase in cancer cases, notably prostate cancer, and cardiovascular diseases, the need for efficient, non-invasive diagnostic procedures is more pressing than ever.
Advances in Ultrasound Technology Enhancing Diagnostic Capabilities
Technological advancements are transforming the ultrasound device market, with innovations leading to more accurate diagnostics and improved patient care. These improvements are especially crucial in fields such as cardiology, oncology, and obstetrics/gynecology, where accurate imaging is critical for effective treatment.
Key Market Developments and Strategic Acquisitions
The ultrasound device market has witnessed several strategic expansions and acquisitions. Major industry players, including GE Healthcare and Philips, have taken significant steps to enhance their portfolios and solidify their market positions through acquisitions and product advancements.
U.S. and China at the Forefront of Market Expansion
The United States is poised to lead the global ultrasound device market, fueled by an aging population, increased prevalence of chronic diseases, and a surge in healthcare innovation. Similarly, China's market growth is expected to be propelled by increased government investment and the rising necessity for high-quality healthcare services.
Industry Leaders and Innovations Shaping the Future
Leading companies such as GE Healthcare, Siemens Healthcare, Philips, Canon INC., Fujifilm Holdings Corporation, Samsung Medison Co. Ltd., and Hitachi Ltd. are at the vanguard of the ultrasound device industry, introducing cutting-edge products and solutions that are shaping the future of medical imaging.
Comprehensive Analysis
The global ultrasound device market is analyzed extensively, covering various aspects such as product types, portability, applications, display types, and end-users. Detailed market insights across multiple geographic regions provide a thorough understanding of the industry's overall performance and future outlook. In conclusion, the global ultrasound device market is expanding significantly, with numerous factors contributing to its growth. Advancements in medical technology, the urgency to address chronic diseases, and strategic corporate developments are set to drive the market forward, offering improved healthcare solutions worldwide.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 230 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $8.82 Billion |
| Forecasted Market Value (USD) by 2030 | $12.92 Billion |
| Compound Annual Growth Rate | 5.6% |
| Regions Covered | Global |
Companies Featured
- GE Healthcare
- Siemens Healthcare
- Philips
- Canon INC.
- Fujifilm Holdings Corporation
- Samsung Medison Co. Ltd. (Samsung Electronics Co. Ltd.)
- Hitachi Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/g5m49u
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
