Diagnostic Ultrasound Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032
The global diagnostic ultrasound market was valued at approximately USD 7.8 billion in 2023. Projections indicate a growth rate of 4.1% CAGR from 2024 to 2032. The market expansion is fueled by the rising prevalence of chronic diseases, notably cancer, and a growing elderly population. The versatility of ultrasound applications spans anesthesiology, gynecology, critical care, cardiology, and emergency medicine, boosting demand. Technological advancements in ultrasound systems and rising birth rates enhance patient management and care.
Technological innovations and upgrades have intensified competition in the diagnostic ultrasound device sector. For example, in July 2024, GE HealthCare acquired the clinical artificial intelligence (AI) software division of Intelligent Ultrasound Group PLC. GE HealthCare aims to incorporate these solutions into its ultrasound lineup, enhancing capabilities to streamline workflows and improve user experience for clinicians and patients.
The overall diagnostic ultrasound market is segmented based on technology, portability, application, end-user, and region.
The market, categorized by technology, includes 2D, 3D, 4D, and Doppler segments. In 2023, the Doppler segment led with a revenue of USD 2.7 billion. Innovations like portable and handheld Doppler devices are enhancing accessibility across healthcare settings. Heightened awareness of early diagnosis and a surge in demand for minimally invasive procedures propel segment growth.
Portability-wise, the market divides into trolley and compact/handheld systems. The trolley segment, valued at USD 5.3 billion in 2023, is witnessing growth. The rising focus on point-of-care diagnostics, where mobility is paramount, boosts trolley ultrasound adoption. Their adaptability, spanning general imaging to specialized areas like obstetrics and gynecology, solidifies their demand across medical fields.
End-use segmentation includes hospitals, maternity centers, and other users. In 2023, hospitals led with a revenue of USD 4 billion. The surge in demand for minimally invasive procedures and a spotlight on point-of-care testing in emergencies propel ultrasound adoption in hospitals. Additionally, the bolstering healthcare infrastructure, especially in emerging nations, and rising medical spending fuel market growth.
North America diagnostic ultrasound market will hit USD 3.8 billion by 2032. In 2023, the U.S. led the North American scene with a revenue of USD 2.4 billion. The region's robust healthcare infrastructure champions the adoption of cutting-edge ultrasound technologies, especially portable devices, enhancing clinical accessibility. A growing focus on preventive healthcare and early diagnosis amplifies the demand for diagnostic ultrasounds, recognized for their non-invasive and cost-effective imaging capabilities.
- Chapter 1 Methodology & Scope
- 1.1 Market scope & definitions
- 1.2 Research design
- 1.2.1 Research approach
- 1.2.2 Data collection methods
- 1.3 Base estimates & calculations
- 1.3.1 Base year calculation
- 1.3.2 Key trends for market estimation
- 1.4 Forecast model
- 1.5 Primary research and validation
- 1.5.1 Primary sources
- 1.5.2 Data mining sources
- Chapter 2 Executive Summary
- 2.1 Industry 360° synopsis
- Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.2 Industry impact forces
- 3.2.1 Growth drivers
- 3.2.1.1 Growing geriatric population base in developed as well as developing regions
- 3.2.1.2 Increasing incidence of chronic diseases
- 3.2.1.3 Increasing birth rates in developing countries
- 3.2.1.4 Technological innovations and advancements in diagnostic ultrasound devices
- 3.2.2 Industry pitfalls & challenges
- 3.2.2.1 Dearth of skilled professionals especially in developing and underdeveloped regions
- 3.2.2.2 Barriers impeding use of diagnostic ultrasound in developing economies
- 3.3 Growth potential analysis
- 3.4 Technological landscape
- 3.5 Future market trends
- 3.6 Porter’s analysis
- 3.7 PESTEL analysis
- Chapter 4 Competitive Landscape, 2023
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.3 Company matrix analysis
- 4.4 Competitive analysis of major market players
- 4.5 Competitive positioning matrix
- 4.6 Strategy dashboard
- Chapter 5 Market Estimates and Forecast, By Technology, 2021 – 2032 ($ Mn)
- 5.1 Key trends
- 5.2 2D
- 5.3 3D and 4D
- 5.4 Doppler
- Chapter 6 Market Estimates and Forecast, By Portability, 2021 – 2032 ($ Mn)
- 6.1 Key trends
- 6.2 Trolley
- 6.3 Compact/handheld
- Chapter 7 Market Estimates and Forecast, By Application, 2021 – 2032 ($ Mn)
- 7.1 Key trends
- 7.2 General imaging
- 7.3 Cardiology
- 7.4 OB/GYN
- 7.5 Other applications
- Chapter 8 Market Estimates and Forecast, By End-use, 2021 – 2032 ($ Mn)
- 8.1 Key trends
- 8.2 Hospitals
- 8.3 Maternity centers
- 8.4 Other end-users
- Chapter 9 Market Estimates and Forecast, By Region, 2021 – 2032 ($ Mn)
- 9.1 Key trends
- 9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
- 9.3 Europe
- 9.3.1 Germany
- 9.3.2 UK
- 9.3.3 France
- 9.3.4 Spain
- 9.3.5 Italy
- 9.3.6 Russia
- 9.3.7 Poland
- 9.3.8 Austria
- 9.3.9 Switzerland
- 9.3.10 Norway
- 9.3.11 Finland
- 9.3.12 Sweden
- 9.3.13 Denmark
- 9.3.14 Netherlands
- 9.3.15 Rest of Europe
- 9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 Japan
- 9.4.3 India
- 9.4.4 Australia
- 9.4.5 South Korea
- 9.4.6 Taiwan
- 9.4.7 Indonesia
- 9.4.8 Vietnam
- 9.4.9 Rest of Asia Pacific
- 9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
- 9.5.3 Rest of Latin America
- 9.6 Middle East and Africa
- 9.6.1 South Africa
- 9.6.2 Saudi Arabia
- 9.6.3 UAE
- 9.6.4 Rest of Middle East and Africa
- Chapter 10 Company Profiles
- 10.1 Canon Medical Systems Corporation
- 10.2 Esaote SpA
- 10.3 FujiFilm Holdings Corporation
- 10.4 General Electric Company (GE Healthcare)
- 10.5 Hologic, Inc.
- 10.6 Koninklijke Philips N.V. (BioTelemetry, Inc.)
- 10.7 Konica Minolta Inc.
- 10.8 Samsung Electronics Co. Ltd.
- 10.9 Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
- 10.10 Siemens Healthineers AG
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