Hyderabad, July 11, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Ultrasound Devices Market Report (2023-2028)," the market is estimated at USD 8.85 billion in 2023. It is expected to register a CAGR of 5.66% during the forecast period.
Ultrasound devices have various applications in assessing conditions in organs like the kidney, liver, and abdomen. The growing burden of chronic diseases such as heart disease, asthma, cancer, and diabetes is leading to a higher demand for diagnostic procedures. Technological advancements and product launches by key players are boosting the global ultrasound devices market.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 8.85 billion |
| Market Size (2028) | USD 11.70 billion |
| CAGR (2023-2028) | 5.66% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Government and private funding for research and development. |
| Increasing healthcare expenditure and technological advancements. |
Who are the Top Companies in the Global Ultrasound Devices Market?
The global ultrasound devices market is consolidated with a few regional and international companies. Partnerships and product launches are the most adopted strategies.
The significant players in the global ultrasound devices market are:
- Canon Medical Systems Corporation
- Carestream Health
- Fujifilm Holdings Corporation
- GE Healthcare
- Hologic Inc.
- Koninklijke Philips NV
- Mindray Medical International Limited
- Samsung Electronics Co. Ltd
- Esaote SpA
- Siemens Healthineers AG
Other Reports That Might Be of Your Interest:
- Contrast-Enhanced Ultrasound Market Report - The global contrast-enhanced ultrasound (CEUS) market is expected to register a CAGR of 5.9% over the next five years.
- Endoscopic Ultrasound Needles Market Report - The global endoscopic ultrasound needles market size is expected to grow from USD 142.66 million in 2023 to USD 196.29 million by 2028, at a CAGR of 6.59% during the forecast period (2023-2028).
Key Highlights from the Global Ultrasound Devices Market Report:
Stationary Ultrasound Segment Holding a Significant Share
- The adoption of stationary ultrasound systems is increasing in acute care and emergency care settings in hospitals worldwide. This is enabled by technological transformations in ultrasound systems.
- Continuous technological advances and the growing geriatric population are driving the segment. The prevalence of chronic diseases is expected to increase, leading to the growth of the market.
North America Likely to Continue Its Dominance
- Supportive government and private funding for R&D is driving the ultrasound devices market in North America.
- North America is a hub for major players in the market.
What are the Latest Developments in the Global Ultrasound Devices Market?
- In February 2022, Butterfly Network Inc. and Ambra Health announced a partnership to accelerate and simplify interoperability for bedside imaging data.
- In December 2021, EagleView Ultrasound introduced its wireless portable ultrasound device, which provides much freedom for ultrasound imaging and makes the point-of-care solution more affordable.
Mordor Intelligence has Segmented the Global Ultrasound Devices Market Based on Application, Technology, Type, and Geography.
- By Application (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Anesthesiology
- Cardiology
- Gynecology/Obstetrics
- Musculoskeletal
- Radiology
- Critical Care
- Other Applications
- By Technology (Market Size and Forecast based on Value (USD billion), 2018-2028)
- 2D Ultrasound Imaging
- 3D and 4D Ultrasound Imaging
- Doppler Imaging
- High-intensity Focused Ultrasound
- By Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Stationary Ultrasound
- Portable Ultrasound
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
- South America
- Brazil
- Argentina
- Rest of South America
- North America
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Global Ultrasound Devices Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- Ultrasound Gel Market Report - The global ultrasound gel market is projected to register a CAGR of 3.9% over the next five years.
- Teleultrasound System Market Report - The global teleultrasound system market is expected to register a CAGR of 6% over the next five years.
- Ultrasound Transducer Market Report - The global ultrasound transducer market size is expected to grow from USD 3.88 billion in 2023 to USD 4.68 billion by 2028 at a CAGR of 3.83% during the forecast period (2023-2028).
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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