Global Ultrasound Equipment Market Size study & Forecast, by Product (Compact, Table-top) by Application (Radiology, Gynecology, Cardiology, Point of Care, Urology, Surgery and Others), by End User (Hospitals, Clinics), and Regional Analysis, 2022-2029

Global Ultrasound Equipment Market Size study & Forecast, by Product (Compact, Table-top) by Application (Radiology, Gynecology, Cardiology, Point of Care, Urology, Surgery and Others), by End User (Hospitals, Clinics), and Regional Analysis, 2022-2029

Global Ultrasound Equipment Market is valued at approximately USD 7.80 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 7.85% over the forecast period 2022-2029. High-frequency sound waves are used in ultrasound to create images of anatomical structures, which are subsequently analyzed by medical specialists to look for patient abnormalities. With the aid of this technology, several chronic diseases affecting important body parts, including the joints, blood arteries in the belly, and the heart, can be diagnosed. One of the safest non-invasive diagnostic techniques for inspecting inside organs is this technology. The Ultrasound Equipment Market is expanding because of factors such as rising prevalence of chronic diseases and the rising geriatric population.

Globally, the prevalence of chronic diseases is rising, which has led to a rise in the demand for healthcare services such more hospital admissions, operations, and patient visits. For instance, according to the CDC's numbers from 2019, the United States had more than 900 million doctor visits, 155 million ER visits, and 45 million outpatient treatments. This, together with an increase in the percentage of senior populations suffering from chronic diseases globally, has led to a significant rise in the demand for medical imaging equipment, notably ultrasound devices for diagnosis and treatment processes.. According to the World Bank Group, the world’s geriatric population was 727 million in 2020, and it is predicted to treble over the next three decades, reaching 1.5 billion in 2050. In addition, the introduction of Artificial Intelligence and the development of healthcare facilities in emerging countries are creating lucrative growth in the market. However, the high cost of ultrasound equipment may halt market growth.

The key regions considered for the Global Ultrasound Equipment Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the dominance of branded products and the region's increasing disease prevalence. While Asia Pacific is anticipated to experience the highest CAGR during the forecast period due to factors such as growing geriatric and target populations, an increase in product development collaborations, geographic expansion of major players, and active participation by nonprofit and government organizations in the market.

Major market player included in this report are:
GE Healthcare
Koninklijke Philips N.V.
Canon Inc.
Hitachi Vantara Corporation
Matsushita Electric Industrial Company, Ltd.
Siemens Healthcare
Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
Samsung Electronic Co. Ltd
Esaote
Shantou Institute of Ultrasonic Instruments Co., Ltd

Recent Developments in the Market:
In year 2020, During the Radiological Society of North America (RSNA) 2020, Samsung Medison unveiled its RS85 Prestige ultrasound diagnostic system, which is intended to give effective scanning performance, with the goal of bolstering its position in the worldwide market.

Global Ultrasound Equipment Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Product, Application, End user, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Product:
Compact
Table-top

By Application:
Radiology
Gynecology
Cardiology
Point of Care
Urology
Surgery
Others
End User:
Hospitals
Clinics
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World

Companies Mentioned

GE Healthcare
Koninklijke Philips N.V.
Canon Inc.
Hitachi Vantara Corporation
Matsushita Electric Industrial Company, Ltd.
Siemens Healthcare
Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
Samsung Electronic Co. Ltd
Esaote
Shantou Institute of Ultrasonic Instruments Co., Ltd

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