China Ultrasound Device Market, Size, Forecast 2023-2027, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis

China Ultrasound Device Market, Size, Forecast 2023-2027, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis

China's Ultrasound device market will reach US$ 2.19 Billion in 2027, registering a CAGR of 7.02% during the forecast period, 2022-2027. China is the world's second-largest economy behind the United States. China's Ultrasound Devices market is witnessing positive growth due to the rising incidence of severe chronic diseases such as urology, cardiovascular, and others. Further, rapid technological developmental activities, growing awareness for early detection, and the increasing geriatric population across China who are more susceptible to developing chronic disorders to the growth of the China Ultrasound Devices market during the forecast period. On the other hand, the shortage of skilled and experienced sonographers is estimated to impede the development of the China ultrasound devices market.

Application segment review

Based on Application, the China Ultrasound device market is segmented into Gynecology/Obstetrics, Musculoskeletal, Radiology, Critical Care, and Other Application. Radiology holds the largest market share and is expected to grow at a lucrative CAGR during the forecast period. Radiology imaging is less expensive than other applications. It includes a wide range of scans clinicians need for diagnosis and immediate treatment, including scans of the abdomen, musculoskeletal system, small parts, urology, liver, thyroid, scrotum, bladder, pancreas, kidneys, spleen, and gallbladder. Over the years, ultrasound has gradually expanded beyond Ob/Gyn, radiology and cardiology to a wide range of clinical specialties, surgery including gastroenterology and musculoskeletal, expanding the customer base and driving additional revenue growth.

Furthermore, Due to the rising prevalence of cardiovascular disorders in China, the cardiology category is expected to grow steadily through the forecast period. For instance, according to the WHO, Cardiovascular disease (CVD) is the leading cause of death (COD) in China, accounting for two out of every five deaths due to CVD. China ultrasound devices market was valued at US$ 1.56 Billion in 2022.

Technology segment review

By Technology, the china Ultrasound devices market has been categorized into; 2D, 3D, 4D, Doppler, and Others. Major factors expected to boost the 3D and 4D ultrasound devices market in the forecast period are technological developments and the rising healthcare expenses from government and private insurers to grow China's medical imaging services. Furthermore, the equipment in advancing china's states and the rise in medical technology expenditure are anticipated further to develop the 3D and 4D ultrasound devices market.

End User segment review

Based on End Users, Hospital captured almost half of the market share and will hold the highest market during the forecast period. China has one of the highest rates of chronic diseases, including cancer, cardiovascular disease, and other illnesses, which are predicted to propel the hospital market's expansion over time.

The Ambulatory Surgical Centers captured the second most market share of China's ultrasound device segment, ascribed to a growing number of ultrasound-based medical procedures conducted, the expanding number of centers in cities, and the increased acceptance of minimally invasive diagnostic and surgical procedures in these facilities.

Key Market Player

China's Public and private companies are investing in Research & Development to advance their technologies in ultrasound, as it is becoming one of the fundamental aspects of healthcare. Additionally, many Chinese businesses are investing strategically to increase their market share in the ultrasound equipment industry. Some major companies investing in ultrasound devices are Philips, Hologic, Inc., Canon, Samsung Electronics Co.Ltd and Siemens AG.

In February 2022, Butterfly Network, Inc. and Ambra Health announced a partnership to accelerate and simplify interoperability for bedside imaging data. Butterfly's enterprise platform will enhance access to the shareability of valuable ultrasound information across hospitals and health systems.

In December 2021, EagleView ultrasound introduced its wireless portable ultrasound device, which provides much freedom for ultrasound imaging and makes the point-of-care solution more affordable.

Renub Research report titled “China Ultrasound Device Market Forecast By Application (Gynecology/Obstetrics, Musculoske letal, Radiology, Critical Care, Others), Technology (2D, 3D& 4D, Doppler, Others), End Users (Hospital, Ambulatory Surgical Centers, Others), Company (Siemens AG, Hologic, Inc., Koninklijke Philips NV, Canon Medical Systems Corporation, Canon Medical Systems Corporation and Samsung Electronics Co.Ltd),” provides a complete analysis of China Ultrasound Devices Market.

Application – Ultrasound Device Market in China

1. Gynecology/Obstetrics
2. Musculoske letal
3. Radiology
4. Critical Care
5. Other Application

Technology – Ultrasound Device Market in China

1. 2D Ultrasound
2. 3D & 4D Ultrasound
3. Doppler
4. Others

End Users- Ultrasound Device Market in China

1. Hospital
2. Ambulatory Surgical Centers
3. Others

All the companies covered in the report has been covered from the following points

• Overview
• Recent Development
• Financial performance

Key Company Covered

1. Siemens AG
2. Hologic, Inc.
3. koninklijke philips nv
4. Canon Medical Systems Corporation
5. Samsung Electronics Co.Ltd