DUBAI, United Arab Emirates, Feb. 15, 2022 (GLOBE NEWSWIRE) -- The global Ultrasound Systems Market is estimated at USD 9.5 billion in 2022 and is projected to reach USD 13.2 billion by 2028, growing at a CAGR of 5.5% during the forecast period (2022-2028).
Digitization in the healthcare sector has revamped the ultrasound systems market. The advancements in different spheres of the industry has benefited not just the patients but the market too, as the demand for medical examination has surged over the past decade. A new market research report by Future Market Insights, revolves around an in-depth and an all-inclusive analysis of Global Ultrasound Systems Market, reveals a strong growth of the market due to upgraded services provided to the patients and also the easier approach to the internal body examination witnessed with the usage of ultrasound systems.
| Data Points | Market Insights | |
| Market Value 2021 | US$ 9.0 Bn | |
| Market Value 2022 | US$ 9.5 Bn | |
| Market Value 2028 | US$ 13.2 Bn | |
| CAGR 2022-2028 | 5.5% | |
| Market Share of Top 5 Countries | 55.1% | |
| Key Industry Players | GE Company, Fujifilm Holdings Corporation, Siemens AG, Koninklijke Philips N.V., Toshiba Medical System Corp., Hitachi Medical Corp., Mindray Medical International Ltd, FUJIFILM Holdings Corporation, Samsung Medison Co., Ltd, Esaote SpA and Others | |
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According to the outcomes of global forecast mentioned in the report titled ‘Ultrasound Systems Market - Global Industry Analysis 2012 – 2021 and Opportunity Assessment 2022 – 2028’, the global ultrasound systems market is expected to reach a market value of over US$ 13.2 Bn by the end of 2028, growing at an impressive CAGR of 5.5% during the forecast period.
Hospitals to hold largest share in Ultrasound Systems Market with highest demand for application in Radiology
Hospitals shift toward more value-oriented products, they need to operate more efficiently and productively. Similarly, a quality shift has occurred with patients, who more proactively involved in their care. Trends from the shift to value-based care include data integration and population health management. An influx of data combined with advancements in imaging helps leverage these data to not only bring further value but also apply it to broader populations. Along with the clearer and high definition pictures that are a part of ultrasound systems, there has also been an introduction to the portable machines. These are the more handy and easy to move form of ultrasound systems that have come into existence not long ago.
Although the developed nations are already familiar with the technology, the market may find a higher prospects of growth in the developing regions. The market analysis has shown that hospitals hold the highest market share in the Global Ultrasound Systems Market, however diagnostics imaging and surgical centers are expected to raise a higher demand for the systems in the coming years. In terms of application the market is also dominated by Radiology as the key application area for ultrasound systems and is expected to continue growing further at a CAGR of 6.3% during the forecast period, as analyzed by FMI.
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Scope of the Report
| Attribute | Details |
| Forecast Period | 2022-2028 |
| Historical Data Available for | 2012-2021 |
| Market Analysis | US$ Mn for Value |
| Key Regions Covered | North America, Latin America, Western Europe, Eastern Europe, APECJ, Japan and Middle East and Africa |
| Key Countries Covered | US, Canada, Brazil, Mexico, Germany, U.K., France, Italy, Spain, Russia, Poland, Nordic Countries, China, Japan, India, ASEAN, Australia, New Zealand, South Africa and GCC Countries |
| Key Market Segments Covered | Modality, Application, End User and Region |
| Key Companies Profiled | • GE Company • Fujifilm Holdings Corporation • Siemens AG • Koninklijke Philips N.V. • Toshiba Medical System Corp. • Hitachi Medical Corp. • Mindray Medical International Ltd • FUJIFILM Holdings Corporation • Samsung Medison Co., Ltd • Esaote SpA • Others |
Favourable Government Policies to Benefit Start-up Companies and Independent diagnostic centers
As a move to encourage start-up companies, government of various regions like Asia Pacific and MEA have bolstered the initiatives to support the new start-ups who are entering the healthcare and medical device industry. It includes exemption of taxes for the first three years, subsidizing patent protection cost etc. The move is intended to boost the overall market for medical devices.
Specifically the medical imaging market has also taken an independent position in the global market. With the betterment in services and advanced facilities related to ultrasound or any other imaging techniques, the global market is expected to witness a higher volume of independent imaging centers.
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The companies have also independently introduced handy and user-friendly devices in the market. GE, Philips, Samsung, Fukuda, Mindray, Hitachi, Toshiba, and Siemens, all these companies offer their own particular models.
The coming years will showcase more advanced ultrasound systems, which will provide an image clearer than 3D or 4D pictures.
Key Market Segments Covered in Ultrasound systems Market Research
By Modality:
- Cart/Trolley Based
- Compact/Hand Held
By Application:
- Radiology
- Obstetrics & Gynaecology
- Cardiology
- Gastroenterology
- Others
By End User:
- Hospitals & Clinics
- Diagnostic Imaging & Surgical Centers
- ASCs
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- MEA
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Explore FMI’s Extensive ongoing Coverage on Healthcare Domain
Preclinical Ultrasound Systems Market - The global preclinical ultrasound industry is anticipated to witness a higher market share due to exhibition of a healthy CAGR in the forecast period. Preclinical ultrasound systems are used for visualizing living animals for advancement in research and drug development.
Portable Cardiology Ultrasound Systems Market - The heart is the most vital organ in the human body, so taking care of it is important. Due to this cardiac ultrasound has become a foremost application of ultrasound. Cardiac ultrasound system has become extensively used in last decade as a tool to help prevent heart disease.
Intravascular Ultrasound Systems Market - There is drastic Increase in the number percutaneous coronary interventions and number of stent procedures. Major Lot of population now a days prefer less invasive procedures, the technological advancements in image guided therapeutic treatment and growing incidence of cardiovascular disease led to the increase in the intravascular ultrasound systems market.
Micro-Ultrasound Systems Market - Micro-ultrasound systems market is a growing market as the preclinical research on cancer and imaging modality are taking place in research institution and pharmaceutical industries.
Transdermal Ultrasound Surgery Market - Transdermal drug delivery method suggests a lucrative alternative the traditional drug delivery method of injections as well as oral administration. Nevertheless, the outermost layer of the skin serves as an obstacle that controls the penetration of the macromolecular substances into the skin.
Wireless Ultrasound Scanner Market - A wireless ultrasound scanner is devices which can help physician for high-quality scans in minimum time when they have limited access to traditional machines.
Ultrasound Skin Tightening Devices Market - Ultrasound skin tightening is a non-invasive, non-surgical cosmetic procedure. Ultrasound skin tightening is also known as ultherapy. Ultrasound skin tightening devices reaches about 5 mm deep under the skin and penetrating in the second layer of muscles underneath the facial muscles.
Transcranial Doppler Ultrasounds System Market - Transcranial doppler ultrasounds system are medically used for quantitative measurement of blood flow velocity of the brain vessels. Transcranial doppler ultrasounds system are widely adopted in imaging diagnosis of stenosis, vasospasm, and emboli caused due to subarachnoid hemorrhage.
Ultrasound Imaging Solution Market - Ultrasound Imaging is an essential diagnostic tool that utilizes high frequency sound waves to generate visual images of internal organs, blood flow or tissues inside the human body.
Next Generation Ultrasound Systems Market - Next generation ultrasound system is a device that integrates a number of imaging diagnoses related to a wide variety of clinical segments. This device has been introduced in order to make the diagnostic work more efficient with the technological aspects, and it is a better option than the standard ultrasound machine in terms of quality, mobility and cost.
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