Ultrasound Devices Market is Set to Surpass Valuation of USD 11,229.9 Million By 2032: Astute Analytica

The global ultrasound devices market surges, driven by rising chronic diseases, technological advancements in portability and imaging, and an aging population demanding accessible diagnostics. Growth centers in North America, fueled by innovation.

New Delhi, April 23, 2024 (GLOBE NEWSWIRE) — The global ultrasound devices market is projected to reach US$ 11,229.9 million by 2032, up from US$ 7,402.2 million in 2023, at a CAGR of 4.74% during the forecast period 2024–2032.

The global population of individuals aged 60 and over is estimated to reach 2 billion by 2050. This demographic shift, coupled with the fact that around 17.5% of adults (approximately 1.2 billion people) worldwide are affected by chronic diseases, underscores the growing need for efficient and non-invasive diagnostic tools. Ultrasound devices excel in this niche, offering a less expensive alternative to other diagnostic imaging options. As a result, more medical care providers are opting for ultrasound technology, leading to a significant projected growth of 26% in the need for ultrasound technicians between 2020 and 2030.

Download PDF Brochure: https://www.astuteanalytica.com/request-sample/ultrasound-devices-market

The increase in demand for point-of-care testing has fueled the adoption of ultrasound devices market in various medical settings. Portable and handheld ultrasound devices are particularly in demand due to their convenience. This trend is exemplified by GE Healthcare’s first wireless portable ultrasound device, Vscan Air, designed for diagnostic imaging and fluid flow analysis. In emergency medicine, the use of bedside ultrasound by Emergency Physicians in the US resulted in a significant decrease in the delay of diagnosing ectopic pregnancy, from 43% to 29%.

These technological advancements, coupled with shifting demographics and the need for accessible diagnostics, are driving the growth of the global ultrasound devices market. These factors ensure a bright future for the field, with further innovations on the horizon.

Key Findings in Global Ultrasound Devices Market

Market Forecast (2032) US$ 11,229.9 Million
CAGR (2024-2032) 4.74%
Largest Region (2023) North America
By Technology (2023) Diagnostic Ultrasound (92.4%)
By Portability (2023) Cart/Trolley-Based Ultrasound Devices (57.3%)
By Application (2023) Radiology/General Imaging (29.6%)
By Display Type (2023) Color Ultrasound Devices (90.9%)
Top Trends
  • Demand for portable and handheld ultrasound devices for point-of-care applications.
  • Integration of Artificial Intelligence (AI) for improved image analysis and diagnosis.
  • Growth of tele-ultrasound for remote consultations and diagnostics.
Top Drivers
  • Rising prevalence of chronic diseases globally.
  • Aging population increasing demand for non-invasive diagnostics.
  • Technological advancements in imaging quality and device features.
Top Challenges
  • High cost of advanced ultrasound systems.
  • Shortage of skilled sonographers in many regions.
  • Regulatory hurdles and potential reimbursement complexities.

Future Trends and Opportunities in Global Ultrasound Devices Market

Looking ahead, the future of the ultrasound devices market appears bright, with several trends and opportunities on the horizon. Artificial Intelligence (AI) integration promises to revolutionize ultrasound imaging, offering enhanced image quality, real-time analytics, and personalized patient insights. Preliminary trials have shown that AI-enhanced ultrasound can increase diagnostic accuracy by up to 15% in certain cases. The ability of AI to simplify ultrasound acquisition will be a tremendous advance to bring echocardiograms to the point-of-care in primary care offices.

Other notable trends include the increasing use of ultrasound in low- and middle-income countries, demonstrating the growing utilization of this relatively low-cost, portable imaging technology in low resource settings. Spatially targeted drug delivery with ultrasound and microbubbles is another hot issue in medical ultrasound. With more advances and healthcare reform, ultrasound technology has the potential to significantly improve patient experiences and diagnostic accuracy.

Cart/Trolley-Based Ultrasound Devices Dominate Market With 57.3% Market Share

Cart/trolley-based ultrasound devices offer a compelling blend of portability and cost-effectiveness. While not as compact as handheld devices, they still allow healthcare professionals to bring the device directly to the patient’s bedside, whether in the ICU, emergency department, or other settings. This eliminates the need to transfer critical patients and facilitates rapid diagnosis and treatment decisions right at the point of care. Compared to larger, fixed-location traditional ultrasound systems, cart-based options provide a more economical solution in the global ultrasound devices market. This enables smaller clinics, specialists, and general physicians to invest in tailored devices for their specific diagnostic needs.

The increasing prevalence of chronic diseases, particularly among the aging population, is a major factor driving the demand for non-invasive diagnostic procedures like ultrasound imaging. Cart/trolley-based systems are well-positioned to meet this growing need. Additionally, these devices are finding increased use in minimally invasive surgeries due to their high mobility and maneuverability. The growth of point-of-care (POC) ultrasound is another significant trend fueling the cart-based ultrasound market. POC ultrasounds provide immediate diagnostic results for patients needing urgent care, with cart-based systems offering the balance of portability and functionality needed in these scenarios.

Examples of popular cart/trolley-based product in the ultrasound devices market include GE Healthcare’s Vscan Air, a wireless portable device for diagnostic imaging and fluid flow analysis; CHISON’s comprehensive trolley color doppler ultrasound devices, suitable for a wide range of applications; and the Keebomed KM-6, a cart trolley specifically designed for portable ultrasound machines.

To Purchase a Comprehensive Report Analysis:

https://www.astuteanalytica.com/industry-report/ultrasound-devices-market?buy_now=true&license_type=single

Growing Role of Diagnostic Ultrasound in Chronic Disease Management, Control Over 92.4% Market Share

The rising global burden of chronic and non-communicable diseases is a major driver of the diagnostic ultrasound devices market. NCDs pose a threat to the progress towards the 2030 Agenda for Sustainable Development, which aims to reduce premature mortality from the four main NCDs by one third by 2030. By around 2050, chronic diseases such as cardiovascular diseases, cancer, diabetes, and respiratory illnesses are projected to account for 86% of the 90 million deaths each year. Chronic diseases are taking an ‘immense and increasing toll on lives, livelihoods, health systems, communities, economies, and societies. As per statistics from the CDC, 6 in 10 Americans live with at least one chronic disease, emphasizing the pressing need for diagnostic imaging.

Ultrasound plays a crucial role in diagnosing and monitoring conditions like cancer and cardiovascular disease, two of the leading categories of chronic illnesses. The ability of ultrasound to detect slight differences in how sound waves travel through normal versus pathological tissues aids in the detection of cancer and other diseases. This technology is also used in guiding procedures, such as needle biopsies and fluid aspiration, which are instrumental in managing chronic conditions. Ultrasound’s utility extends beyond initial diagnosis. It’s crucial for monitoring chronic conditions and their complications. Intestinal obstruction, a potential consequence of Crohn’s disease, and ectopic pregnancy, which may result from adhesions caused by chronic appendicitis, are both commonly diagnosed with ultrasound. While some chronic diseases with genetic components may be identifiable on ultrasound, others, like metabolic disorders, aren’t as easily visualized. Nonetheless, ultrasound can provide important clues in the diagnosis of chronic infectious syndromes, though other diagnostic tools may be needed for confirmation.

Ultrasound remains a valuable tool even in low and middle-income countries, where there’s a growing need to manage poverty-related chronic diseases like tuberculosis and malaria. For example, in a study of 2,453 patients at an antiretroviral clinic, ultrasound was key in detecting potential abdominal tuberculosis among HIV-positive patients.

Explore Research Methodology @ https://www.astuteanalytica.com/request-methodology/ultrasound-devices-market

US Dominates Ultrasound Devices Market Amidst Rising Chronic Disease Burden

North America is the undisputed leader in the ultrasound devices market, with the US holding the top spot within the region. This dominance is fueled by several key factors. Firstly, the high prevalence of chronic diseases in the US creates a significant demand for diagnostic imaging. Shockingly, 6 in 10 Americans suffer from at least one chronic condition like stroke, cancer, or diabetes. Conditions like coronary artery disease, which affects about 5% of adults over 20, and the 805,000 heart attacks occurring annually in the US underscore the constant need for ultrasound-based cardiac diagnostics. Moreover, the rising global concern about infertility, affecting roughly 17.5% of adults, contributes to the US market dominance as ultrasound is a cornerstone of fertility care. Additionally, a broad range of applications for ultrasound technology, including cardiology, obstetrics/gynecology, vascular, orthopedic, and general imaging, further drives demand for these devices across various medical specialties.

Technological advancements like high-resolution transducers and 3D/4D imaging constantly improve the diagnostic accuracy of ultrasound devices, a key factor driving their popularity in the US ultrasound devices market. The demand for point-of-care testing and intraoperative use of ultrasound adds to this growth trajectory. However, a looming challenge for the US market is the shortage of educated and certified sonographers needed to meet the expanding demand for ultrasound procedures.

Beyond its established diagnostic capabilities, the use of ultrasound for therapeutic purposes like HIFU (High-Intensity Focused Ultrasound) widens its potential in the US market. The significant number of patients with chronic disorders such as liver cancer, cysts, tumors, and gynecological problems further increases demand.

Global Ultrasound Devices Market Key Players

  • Canon Medical Systems Corporation
  • FUJIFILM OneSite, Inc.
  • GE Healthcare
  • B. Braun
  • Hologic Inc.
  • Konica Minolta Inc.
  • Koninklijke Philips N.V.
  • Mindray Medical International Limited
  • Samsung Medison Co., Ltd.
  • Siemens Healthier AG
  • Analogic Corporation
  • Neusoft Corporation
  • Trivitron Healthcare
  • CHISON Medical Technologies Co. Ltd.
  • Terason
  • Esaote SpA
  • Other Prominent Players

Key Segmentation:

By Technology

  • Diagnostic Ultrasound
  • Therapeutic Ultrasound

By Display Type

  • Color Ultrasound Devices
  • Black and White (B/W) Ultrasound Devices

By Portability

  • Trolley/Cart-based Ultrasound Devices
  • Compact/Handheld Ultrasound Devices
  • Point-of-care Ultrasound Devices

By Application

  • Radiology/General Imaging
  • Cardiology
  • Gynecology
  • Vascular
  • Urology
  • Others

By End User

  • Hospitals
  • Surgical Centers
  • Diagnostic Centers
  • Ambulatory Surgical Centers
  • Maternity Centers
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa (MEA)
  • South America

Customize this study as per your requirement @ https://www.astuteanalytica.com/ask-for-customization/ultrasound-devices-market

If you have any questions, please feel free to contact us at info@astuteanalytica.com

About Astute Analytica

Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.

Contact us:
Vipin Singh
BSI Business Park, H-15,Sector-63, Noida- 201301- India
Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World)
Email: sales@astuteanalytica.com
Website:  https://www.astuteanalytica.com/

CONTACT: Vipin Singh BSI Business Park, H-15,Sector-63, Noida- 201301- India Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World) Email: sales@astuteanalytica.com Website:  https://www.astuteanalytica.com/

Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. IndiaShorts takes no editorial responsibility for the same.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Privacy & Cookies Policy