Ultrasound Equipment Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Ultrasound Equipment Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Ultrasound Equipment Market

The ultrasound equipment market size was valued at USD 9.32 billion in 2023, and the market is now projected to grow from USD 9.99 billion in 2024 to USD 17.55 billion by 2032, exhibiting a CAGR of 7.3% during the forecast period of 2024-2032.

The COVID-19 pandemic significantly impacted the ultrasound market, growing disruptions in the international supply chain of clinical devices. Major players inside the market confronted demanding conditions because of deliver chain disruptions, particularly from vendors in significantly impacted rising international locations like China, India, and Brazil. Additionally, manufacturing capacity turns into tormented by the unavailability of regionally sourced uncooked materials or additives. These worrying conditions caused delays in manufacturing and distribution, contributing to a common poor effect at the ultrasound marketplace at some stage in the pandemic.

The worldwide rise in continual ailments and the developing geriatric population are poised to force market increase in healthcare services. With chronic situations becoming extra commonplace, there can be extended name for clinical interest, maximum critical to higher affected individual visits, health facility admissions, and surgical techniques. For instance, in 2021, information from the CDC indicated over 1.0 billion scientific physician place of work visits, 131.3 million emergency branch visits, and 41.5 million outpatient surgical tactics within the U.S. This surge underscores the want for greater healthcare infrastructure and offerings to cater to the growing healthcare dreams of populations worldwide.

The advent of synthetic intelligence (AI) in ultrasound device represents a sizable development inside the healthcare enterprise. Leading marketplace gamers are integrating AI algorithms into gadgets to enhance image great and interpretation, permitting real-time assessment of ultrasound pics. This lets in accurate diagnosis and gives valuable insights to healthcare specialists, ultimately improving affected character consequences. By overcoming limitations related to conventional gadgets which encompass prolonged exam times and photograph exquisite troubles, AI-blanketed systems offer increased accuracy and overall performance. This technological innovation is poised to strain market boom, catering to the evolving desires of healthcare agencies and patients alike.

Comprehensive Analysis of Ultrasound Equipment Market

The ultrasound equipment market growth is rising at an exponential rate due to its market segmentation. This market expansion effectively provides detailed regional assessments considering the dominant supply and demand forces that impact the industry. These segmentations are methodically segregated by product analysis, by application analysis and by end-user analysis.By product analysis include, table-top and compact systems. By application analysis include, radiology, gynecology, cardiology, and point of care, urology, surgery, and others. By end-user include, hospitals and clinics.

The Asia Pacific region lead the ultrasound equipment market share by benefitting a market size of USD 3.80 billion in 2023 due to the higher sales volume of these devices in the region.

The top players in the market play a crucial role in the industry assuring market growth and setting market standards. These players include, GE Healthcare (U.S.), Koninklijke Philips N.V. (Netherlands), CANON MEDICAL SYSTEMS CORPORATION (Japan), Hitachi (Japan), Siemens Healthcare (Germany), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), Samsung Medison Co., Ltd. (South Korea), Esaote SPA (Italy), these market players provide a level-playing competitive landscape.

In November 2023, Samsung Medison Co., Ltd. Launched V6, a brand new ultrasound machine proposing 2D, 3D, and coloration imaging competencies.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth RateCAGR of 7.3% from 2024-2032

Unit Value (USD billion), and Volume (Units)

Segmentation By Product

Compact

Table-top

By Application

Radiology

Gynecology

Cardiology

Point of Care

Urology

Surgery

Others

By End User

Hospitals

Clinics

By Geography

North America (By Product, By Application, By End User, and By Country)

- U.S.

- Canada

Europe (By Product, By Application, By End User, andBy Country/Sub-region)

- U.K.

- Germany

- France

- Italy

- Spain

- Scandinavia

- Rest of Europe

Asia Pacific (By Product, By Application, By End User, andBy Country/Sub-region)

- Japan

- China

- India

- Australia

- Indonesia

- South Korea

- Taiwan

- Malaysia

- Thailand

- Rest of Asia Pacific

Latin America (By Product, By Application, By End User, andBy Country/Sub-region)

- Brazil

- Mexico

- Argentina

- Colombia

- Rest of Latin America

Middle East & Africa (By Product, By Application, By End User, and By Country/Sub-region)

- GCC

- South Africa

- UAE

Rest of Middle East & Africa


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