Redding, California, Jan. 31, 2023 (GLOBE NEWSWIRE) -- According to a new market research report, ‘Ultrasound Transducers Market by Product (Convex, Linear, Endocavitary, Phased Array, CW Doppler), Application (Diagnostic [Cardiovascular, OB/GYN, Musculoskeletal), Therapeutic), End User (Hospitals, Diagnostic Centers, ASC) - Global Forecast to 2030,’ published by Meticulous Research®, the ultrasound transducers market is projected to reach $5.5 billion by 2030, at a CAGR of 5.4% from 2023 to 2030.
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An ultrasound transducer converts electrical energy into mechanical (sound) energy and back again, based on the piezoelectric effect. It is the hand-held part of the ultrasound machine responsible for producing and detecting. Transducers are used in diagnostics, surgical treatments, and non-invasive processes.
This market's growth is driven rising prevalence of cardiovascular and abdominal disorders, technological developments in ultrasound modality, the growing incidence of orthopedic injuries and musculoskeletal disorders, rising geriatric population, and the increasing number of hospitals. However, the high cost of ultrasound products and the lack of skilled professionals hamper the growth of this market to a notable extent.
Technological Developments in Ultrasonic Transducers
The material selection and structure design of ultrasound transducers play an important role in influencing acoustic performance. Hence, new materials with added properties and optimizing device structure are under consideration while developing ultrasound transducers. A recent research study on piezoelectric material resulted in the development of Sm-PMN-PT single crystal with piezoelectricity and transparent PMN-PT single crystal with ultrahigh piezoelectricity has been invented, providing a new strategy for ultrasound transducers fabrication. Also, for more convenience in biomedical engineering applications, the development trend of ultrasound transducers has aimed toward miniaturization, array design, and multifunctional integration. Moreover, the continuous influx of new technologies, such as 3D printing, flexible electronics, and artificial intelligence, is expected to bring innovation in transducer design.
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Handheld ultrasound machines are developed with dual-probe technology, which occurs when two transducers are placed into a single probe. This technology allows for more precise and reliable results. Most dual-probe models will include linear arrays and phased transducers. Hence, these developments further increase the demand for ultrasound transducers for various medical applications.
The global ultrasound transducers market is segmented based on product (convex, linear, endocavitary, phased array, CW doppler, other products), application (diagnostic [cardiovascular, general imaging, orthopedic & musculoskeletal, obstetrics & gynecology (OB-GYN), other applications] and therapeutic), end user (hospitals & clinics, diagnostic imaging centers, ambulatory surgical centers, other end users), and geography. the study also evaluates industry competitors and analyzes the regional and country-level markets.
Based on product, in 2023, the convex segment is expected to account for the largest share of the ultrasound transducers market. However, the linear segment is projected to register the highest CAGR during the forecast period as the linear transducers are useful for precise imaging and widely used for imaging the prostate, bladder, testis, and thyroid from the skin surface. For instance, according to the article published by The Institute for Health Metrics and Evaluation, globally, there were 94 million prevalent cases of benign prostatic hyperplasia in 2019, which increased from 51.1 million cases in 2000.
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Based on application, in 2023, the diagnostic segment is expected to register the highest CAGR during the forecast period. The technological developments in specialized application modalities, the rising prevalence of chronic diseases, and increasing awareness among people regarding early diagnosis contribute to the segment’s growth.
Based on end user, in 2023, the hospitals & clinics segment is expected to account for the largest share of the ultrasound transducers market. Hospitals & clinics are present in urban and rural areas with ultrasound machines installed. Hence people prefer visiting hospitals to perform tests. Also, post-pandemic, a large population is regaining their accessibility to healthcare/medical services and has started visiting hospitals for routine medical checkups or testing, contributing to the large market share of this segment.
Based on geography, in 2023, North America is expected to dominate the global ultrasound transducers market, followed by Europe and Asia-Pacific. Patient awareness regarding early diagnosis, an advanced healthcare system in the U.S. and Canada, and the high adoption of advanced technologies contribute to this market’s large market share. However, Asia Pacific is expected to grow at the fastest CAGR during the forecast period.
The report also includes an extensive assessment of the product portfolio, geographic analysis, and key strategic developments adopted by leading market players during 2020–2023. In recent years, the ultrasound transducers market has witnessed several product approvals, product launches, partnerships, expansions, and acquisitions.
Some of the key players operating in this market are GE Healthcare (U.S.), Seimens Healthineers AG (Germany), Koninklijke Philips N.V. (Netherland), FUJIFILM Sonosite, Inc. (U.S.), Canon Medical Systems Corporation (Japan), Hitachi Medical Corporation (Japan), Samsung Medison Co., Ltd. (South Korea), Esaote SpA (Italy), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), Carestream Health, Inc (U.S.), and ALPINION MEDICAL SYSTEMS Co., Ltd. (South Korea).
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/ultrasound-transducers-market-5401
Scope of the Report:
Ultrasound Transducers Market, by Product
- Convex
- Linear
- Endocavitary
- Phased array
- CW Doppler
- Other Products
Ultrasound Transducers Market, by Application
- Diagnostic Applications
- Cardiovascular
- General Imaging
- Orthopedic & Musculoskeletal
- Obstetrics and Gynaecology (OB-GYN)
- Other Applications
- Therapeutic Applications
Ultrasound Transducers Market, by End User
- Hospitals & Clinics
- Diagnostic Imaging Centers
- Ambulatory Surgical Centers
- Other End Users
Ultrasound Transducers Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe (RoE)
- Asia-Pacific
- China
- Japan
- India
- Rest of APAC (RoAPAC)
- Latin America
- Brazil
- Mexico
- RoLATAM
- Middle East & Africa
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