Ultrasound Equipment Market size is set to grow by USD 2.98 bn from 2024-2028, broader applications of ultrasound equipment to boost the market growth, Technavio

NEW YORK, May 13, 2024 /PRNewswire/ -- The global ultrasound equipment market size is estimated to grow by USD 2.98 bn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 6.25% during the forecast period.

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Market Driver

Ultrasound equipment market witnesses significant advancements, with high-end systems integrating AI for automatic anatomy identification and segmentation. Philips Epiq and Affiniti systems provide anatomical intelligence for breast imaging, enhancing workflow. AI-voice recognition controls in Konica Minolta's Sonimage HS1 enable hands-free operation. Key technologies include detection of multifocal, multicentric, bilateral diseases in various anatomical structures, such as axillary lymph nodes, liver, localized lesions, tumors, cysts, and abscesses. Elderly patient population benefits from user-friendly designs, reducing exposure to radiation. Technological advancements include 2D and 3D Ultrasound Systems, battery life improvements, and hand-carried machines. GE HealthCare's Vscan Air and HD3 feature AI for chronic disease management in Radiology, Gynecology, Cardiology, Point of Care, and Urology applications. 

Market Challenges

• The ultrasound equipment market in developed regions, including Europe, the US, and Japan, has reached maturity, leading to increased competition and challenges for new vendors. Key applications include imaging anatomical structures related to chronic disorders in areas such as heart, blood vessels, joints, and various specialties including radiology, gynecology, cardiology, and urology. Notable companies include GE HealthCare, offering products like the Vscan Air and HD3, utilizing technologies such as artificial intelligence and high-definition imaging. The market is also influenced by factors like healthcare reforms, therapeutic ultrasound, and non-invasive procedures, with applications in cancer, breast and lung cancer, cardiovascular disease, cosmetic procedures, and preclinical research.

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Segment Overview 

This ultrasound equipment market report extensively covers market segmentation by

1. End-user 
• 1.1 Hospitals
• 1.2 Imaging centers
• 1.3 Research centers
• 1.4 Others
2. Product Type
• 2.1 Stationary ultrasound equipment
• 2.2 Portable ultrasound equipment
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 Asia
• 3.4 Rest of World (ROW)

1.1 Hospitals- The ultrasound equipment market caters to various end-users, including high-end private hospitals and government general hospitals. In diagnostic ultrasound, high-frequency sound waves generate images of structures within the body. Contrast-enhanced ultrasound enhances image quality, particularly in preclinical applications, such as cardiology, urological, vascular, and pain management. Ultrasound examinations play a crucial role in detecting multifocal, multicentric, and bilateral diseases, including axillary lymph nodes, liver, localized lesions, tumors, cysts, and abscesses. Elderly patient populations benefit significantly from technological advancements in ultrasound machine design, making them user-friendly for novice users. Knobs and controls have been streamlined to minimize exposure to radiation. Diagnostic accuracy is paramount, with 2D Ultrasound Systems and 3D Ultrasound Systems offering superior detection capabilities. Battery life is a crucial consideration for ambulatory care centers and maternity centers, with hand-carried machines providing the necessary portability. Filmless technology has revolutionized the industry, reducing costs and improving efficiency. Ultrasound equipment continues to evolve, with technological advancements shaping the future of this essential medical tool.

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Research Analysis

The Ultrasound Equipment Market encompasses innovative technologies that utilize high-frequency sound waves for non-invasive examination of various anatomical structures in the body. These structures include the heart, blood vessels, joints, and can even detect chronic disorders such as cancer, including breast and lung cancer. GE HealthCare, among other industry leaders, offers solutions like the Vscan Air handheld ultrasound system, which leverages Artificial Intelligence to enhance image quality and detection capabilities. Therapeutic ultrasound and image-guided procedures are also gaining popularity, offering precise interventions for cardiovascular diseases and cosmetic procedures. Healthcare reforms and increasing Medicare spending further fuel the market growth. Key trends include multifocal, multicentric, and bilateral disease detection, making ultrasound equipment an indispensable tool in modern healthcare.

Market Research Overview

The Ultrasound Equipment Market encompasses various technologies and applications, including chronic disease management, cardiology, and obstetrics. Structures such as hospitals, diagnostic centers, and research institutions utilize these advanced systems for non-invasive imaging and diagnosis. Ultrasonic devices, like cardiac and Doppler systems, provide real-time visualization of internal structures, enabling precise diagnosis and treatment. Vessel imaging and surgery, as well as micro-ultrasound, are also integral parts of this market. The industry is driven by factors like an aging population, rising healthcare expenditures, and technological advancements. Ultrasound systems are essential tools for healthcare professionals, offering versatility, accuracy, and non-invasiveness.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• End-user
• Hospitals
• Imaging Centers
• Research Centers
• Others
• Product Type
• Stationary Ultrasound Equipment
• Portable Ultrasound Equipment
• Geography
• North America
• Europe
• Asia
• Rest Of World (ROW)

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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