Europe Ultrasound Device Market, Size, Forecast 2023-2028, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis

Europe Ultrasound Device Market, Size, Forecast 2023-2028, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis

Europe Ultrasound Market is expected to reach US$ 3,085 Million by 2028. A number of medical imaging modalities are available in the market, with ultrasound being one among them. To view the internal organs of the body, an ultrasonic device uses high-frequency sound waves. Therefore, it can be described as a device that takes images of internal organs using high-frequency sound waves. The transducer and ultrasound detector, or probe, are the two main components of an ultrasound system. This non-ionizing radiation, minimally invasive diagnostic procedure can identify and treat a variety of bodily conditions, due to which the ultrasound market in Europe is growing rapidly.

Europe Ultrasound Market will grow with a 5.06% CAGR during the Forecast Period

The market for ultrasound imaging devices in Europe is expanding due to increased awareness of early disease diagnosis and technological advancements in ultrasound imaging. Additionally, the rise in the geriatric population and the increasing demand for ultrasound imaging technologies used for least invasive diagnostic and therapeutic purposes are the factors that will accelerate market expansion. Furthermore, the European government is putting a lot of effort into promoting and assisting industrial research. Industries have been given a number of tax incentives to set up R&D centers with significantly better imaging technologies, such as ultrasound. As a result, procuring ultrasound devices will become more affordable, and the market is anticipated to grow over the forecast period. The Europe Ultrasound Market was US$ 2,293.7 Million in 2022.

Portable Ultrasound acquires a Dominant Share

Based on type, Europe Ultrasound Market is divided into Stationary Ultrasound and Portable Ultrasound. Portable Ultrasound dominated the market in 2022. There are numerous uses of portable ultrasound, which can be easily used in point-of-care treatments, emergency rooms, and at home. Due to the portability and accuracy of this device, hospitals and other healthcare organizations are expanding the usage of portable ultrasound. Portable ultrasound machines are now employed in emergency departments and for giving anesthesia, expanding their range of potential uses. Furthermore, manufacturers are introducing newer technologies, like 3D and 4D imaging, in addition to making the devices smaller and more portable as a result of technological improvements, which will boost the growth of the portable ultrasound segment in Europe.

By Application: General Imaging holds the Lion's Share

The general imaging segment dominated the ultrasound market in Europe due to an increase in abdominal examinations and the use of ultrasound technologies for diagnosing various illnesses. Additionally, the Obstetrics/Gynecology segment is anticipated to grow notably throughout the forecast period since ultrasound is the preferred diagnostic method for obstetrics and gynecological problems (including pregnancy, reproductive, and fertility issues, among others), which is anticipated to drive industry growth.

2D Ultrasound holds the majority of the market share

Based on technology, the Europe ultrasound market is divided into 2D ultrasound, 3D & 4D ultrasound, dopler ultrasound, High-intensity focused ultrasound (HIFU), and ESWL. Among these, 2D ultrasound dominated the ultrasound market in Europe due to the effective use of 2D ultrasound in women's health, low cost, and the accessibility of medical reimbursements for diagnostic ultrasound procedures in developed markets. Furthermore, 3D & 4D ultrasound segment will grow during the forecast period because of the improvements in technology for ultrasonic diagnostic imaging.

Germany and United Kingdom hold a significant share in Europe Ultrasound Market

Due to establishing a universal, multi-payer healthcare system that will provide patients with better access to ultrasound imaging, Germany now holds a privileged position in the European market. Furthermore, the UK ultrasound device market is anticipated to rise significantly during the forecast period. The growing geriatric population and increasing demand for minimally invasive technologies are the main factors driving market expansion in the United Kingdom.

By End User: The Hospital segment holds the Largest Share

Hospitals held the most significant market share of the Europe Ultrasound Market in 2022, and it is expected that it will continue to lead the market throughout the forecast period. The extensive usage of ultrasound equipment in hospitals and the rise in patients seeking treatment for various lifestyle-related ailments are the factors that have contributed to the segment's growth. Additionally, the availability of portable systems is anticipated to increase demand for ultrasound equipment in outpatient and inpatient settings. Furthermore, due to the development of private imaging facilities and the increasing need for diagnostic imaging treatments, diagnostic centers will also experience growth during the forecast period.

Key Players Analysis:

Hologic, Inc., Samsung Electronics Co.Ltd, Canon Medical Systems Corporation, Siemens AG, and Koninklijke Philips NV are the leading key players in Europe Ultrasound Market. To increase their customer base and capture a larger market share, these key players are attempting to enhance their product offerings by upgrading their products, utilizing significant cooperative efforts, and investigating acquisitions and government licenses.

Renub Research latest report “Europe Ultrasound Market Forecast by Type (Stationery Ultrasound and Portable Ultrasound), by Application (General Imaging, Cardiology, Obstetrics/Gynecology and Others), by Technology (2D Ultrasound, 3D & 4D Ultrasound, Dopler Ultrasound, High-intensity focused ultrasound (HIFU), ESWL) by Country (Germany, France, United Kingdom, Italy, Spain, Poland and Rest of Europe) by End User (Hospital, Diagnostic Centre, Others), Key Players Analysis (Hologic, Inc., Samsung Electronics Co.Ltd, Canon Medical Systems Corporation, Siemens AG, koninklijke philips nv)” provides a detailed analysis of Europe Ultrasound Market.

Type – Europe Ultrasound Device Market has been covered from 2 viewpoints

1. Stationery Ultrasound
2. Portable Ultrasound

Application – Europe Ultrasound Device Market has been covered from 4 viewpoints

1. General Imaging
2. Cardiology
3. Obstetrics/Gynecology
4. Others

Technology – Europe Ultrasound Device Market has been covered from 5 viewpoints

1. 2D Ultrasound
2. 3D & 4D Ultrasound
3. Dopler Ultrasound
4. High-intensity focused ultrasound (HIFU)
5. ESWL

Country – Europe Ultrasound Device Market has been covered from 7 viewpoints

1. Germany
2. France
3. United Kingdom
4. Italy
5. Spain
6. Poland
7. Rest of Europe

End User – Europe Ultrasound Device Market has been covered from 3 viewpoints

1. Hospital
2. Diagnostic Center
3. Others

Key Players

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