Ultrasound Market Size 2022-2028- Increasing Incidence Of Cancer And Favorable Reimbursement Scenarios

Increasing aging population and higher adoption of early diagnosis and treatment are key factors boosting global market revenue growth  

The global ultrasound market is expected to reach USD 9453.8 Million in 2028 and register a steady revenue CAGR of 5.40% over the forecast period, according to latest report published by Reports and Data. Key factors driving global market revenue growth are rapid advancements in ultrasound systems, increasing adoption of highly efficient imaging devices, and higher prevalence of chronic and infectious diseases.

Ultrasound, also called sonography is a medical imaging technique that uses sound waves to create images of the internal body parts and helps healthcare experts and physicians to detect and treat various diseases related to heart, thyroid glands, bones, liver, and ovaries. Sonography is widely used for examining developing fetuses, evaluating blood flow, examining breast lumps, and detecting metabolic bone diseases or genital and prostate problems. Factors such as increasing investments in research & development activities, rising funding from public and private sectors, and high demand for minimally invasive diagnostics are fueling global market growth. In addition, increasing focus on developing enhanced ultrasound techniques and higher inclination towards remote patient monitoring and home healthcare settings are expected to fuel overall market growth in the near future. 

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However, factors such as high initial costs, requirement of frequent maintenance, and lack of skilled professionals to operate complex systems are expected to hamper global market growth going ahead. 

Some key highlights from the report:

  • Based on product, diagnostic segment is expected to account for the largest revenue share over the forecast period. This growth can be attributed to factors such as higher prevalence of various chronic conditions, increasing usage of 2D ultrasound devices, and growing adoption of 3D and 4D technology in many hospitals and ambulatory care centers. 
  • Among portability types, trolley/cart segment is expected to register a robust revenue CAGR between 2021 and 2028, owing to increasing preference for ambulatory care services, easy portability of ultrasound machines, and growing hospital and acute care emergencies.  
  • Based on end-use, hospital, diagnostic centers, and surgical centers segment is expected to account for the largest revenue share between 2021 and 2028. This growth is attributed to increasing healthcare infrastructure, rising number of patient admissions, and higher adoption of minimally invasive procedures. 
  • Based on application, obstetrics/gynecology segment is expected to register a robust revenue CAGR during the forecast period. Factors such as rising number of pregnant women globally, increasing cases of female health issues, and introduction of novel and highly effective imaging products are expected to propel growth. 
  • North America is expected to account for the largest revenue share over the forecast period, owing to presence of many key players, increasing prevalence of chronic diseases, availability of advanced ultrasound devices, presence of well-developed healthcare infrastructure, higher adoption of advanced diagnostic equipment, and rising investments for developing enhanced imaging devices. 
  • Asia Pacific is expected to register a robust revenue CAGR between 2021 and 2028, owing to factors such as increasing investments in research projects, presence of low-cost equipment manufacturers, improving healthcare infrastructure, high geriatric population, and rising demand for minimally invasive processes. In addition, increasing adoption of 3D and 4D imaging systems, rising per capita income, and higher funding from private and public organizations would propel growth in this region. 
  • Some major companies profiled in the market report are GE Healthcare, Koninklijke Philips N.V., Canon Medical Systems Corporation, Siemens Healthineers AG, Hitachi, Ltd., Samsung Electronics, Ltd., FUJIFILM Holdings Corporation, Esaote S.p.A., Mindray Medical International Ltd., Shimadzu Corporation, Analogic Corporation, Carestream, Hologic, MobiSante, Chison Medical Imaging Co., Ltd., Konica Minolta Inc., and Toshiba Corporation.

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For the purpose of this report, Reports and Data has segmented global ultrasound market based on device display, product type, portability, application, end-use, and region:

Device Display Outlook (Revenue, USD Million, 2018-2028)

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

Product Type Outlook (Revenue, USD Million, 2018-2028)

  • Diagnostic
    • 2D Imaging Systems
    • 3D & 4D Imaging Systems
    • Doppler Imaging
  • Therapeutic
    • High-Intensity Focused Ultrasound (HIFU)
    • Extracorporeal Shockwave Lithotripsy (ESWL)

Portability Outlook (Revenue, USD Million, 2018-2028)

  • Trolley/Cart
  • Compact/Handheld
  • Point-of-care (PoC)

Application Outlook (Revenue, USD Million, 2018-2028)

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

End-use Outlook (Revenue, USD Million, 2018-2028)

  • Hospitals, Surgical Centers, and Diagnostic Centers
  • Maternity Centers
  • Ambulatory Care Centers
  • Research and Academia
  • Others
    • Physiotherapy Clinics
    • Independent Associations
    • Government Organizations
    • Sports Academies

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Regional Outlook (Revenue, USD Million, 2018-2028)

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Sweden
    • Benelux
    • Rest of Europe
  • Asia Pacific
    • China 
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Israel
    • Rest of MEA

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Some points on how the report benefits stakeholders:

  • The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
  • Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
  • The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
  • The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
  • Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
  • The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.

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