Ultrasound Device Market Analysis and Forecast to 2032: By Application (Radiology, Cardiology, Urology, Others), End-Use (Hospitals, Diagnostic Centers, Others), and Region
Ultrasound devices emit high-frequency sound waves that are used for diagnostic purposes. The waves are directed at the body and bounce off organs to create an image on a screen. Ultrasound is used to visualize internal organs, vessels, and structures for a variety of reasons including checking for abnormalities, guiding procedures such as biopsies and needle aspirations, and monitoring pregnancies.
The Ultrasound Device Market size was USD 7.8 Billion in 2022 and is anticipated to reach USD 14.0 Billion in 2032, growing at a rate of 5.7% from 2023 to 2032.
Key Trends
Ultrasound devices have become more portable and user-friendly in recent years. This trend is likely to continue as manufacturers strive to make these devices more accessible to a wider range of users.
In addition, there is a trend toward the miniaturization of ultrasound devices, which will allow for more widespread use in a variety of settings.
Another key trend is the development of new applications for ultrasound devices, such as in the field of point-of-care diagnostics. This is likely to result in an increase in the use of ultrasound devices in primary care settings.
Key Drivers
There are several key drivers of the ultrasound device market.
The first is the aging population. As people age, they are more likely to develop conditions that can be diagnosed with ultrasound, such as cardiovascular disease.
The second driver is the rising incidence of chronic diseases. Ultrasound can be used to diagnose a variety of chronic conditions, such as diabetes, kidney disease, and cancer.
The third driver is the technological advancement of ultrasound devices. Newer ultrasound devices are more portable and have better image quality than older devices. This makes them more attractive to both patients and physicians.
Restraints & Challenges
The key restraints and challenges in the ultrasound device market include the high cost of devices, the need for skilled personnel to operate the devices, and the limited availability of devices in some regions.
The high cost of ultrasound devices is a major barrier to their adoption, particularly in developing countries where healthcare resources are limited.
The need for skilled personnel to operate ultrasound devices is another barrier to their adoption. In many cases, only trained medical professionals can properly interpret ultrasound images.
The limited availability of ultrasound devices in some regions is another challenge. In many parts of the world, ultrasound devices are not widely available.
Market Segments
The ultrasound device market is segmented by application, end-use, and region. By application, the market is classified into radiology, cardiology, urology, and others. On the basis of end-use, it is bifurcated into hospitals, diagnostic centers, and others. Region-wise, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World.
Key Players
The global ultrasound device market includes players such as Konica Minolta Inc., Esaote SpA, Fujifilm Corporation, General Electric Company, Hitachi Ltd., Koninklijke Philips N.V., Mindray Medical International Limited, Samsung Medison Co Ltd, Siemens Healthcare , Toshiba Corporation, and others.
Table of Contents
Chapter 1. Market Introduction
1.1. Objectives of the Study
1.2. Market Definition and Research & Scope
1.3. Research Methodologies
1.4. Market Estimation Techniques
Chapter 2. Executive Summary
2.1. Summary
2.2. Key Highlights of the Market
Chapter 3. Ultrasound Device Market Outlook
3.1. Ultrasound Device Market Segmentation
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.1.1. Driver 1
3.2.1.2. Driver 2
3.2.1.3. Driver 3
3.2.2. Market Restraints
3.2.2.1. Restraint 1
3.2.2.2. Restraint 2
3.2.3. Market Opportunities
3.2.3.1. Opportunity 1
3.2.3.2. Opportunity 2
3.3. Porter’s Five Forces Analysis
3.3.1. Threat of New Entrants
3.3.2. Threat of Substitutes
3.3.3. Bargaining Power of Buyers
3.3.4. Bargaining Power of Supplier
3.3.5. Competitive Rivalry
3.4. PESTLE Analysis
3.5. Value Chain Analysis
3.5.1. Raw Material Suppliers
3.5.2. Manufacturers
3.5.3. Wholesalers and/or Retailers
3.6. Impact of the Russia and Ukraine War on the Global Ultrasound Device Market
Chapter 4. Economic Impact of COVID-19
4.1. Overall Impact of COVID-19
4.2. Impact of COVID On the Global Ultrasound Device Market
4.3. Economic Impact Analysis
Chapter 5. Ultrasound Device Market by Application
5.1. Market Overview
5.2. Radiology
5.2.1. Market Size and Forecast, 2022-2032 ($Million)
5.2.2. Market Size and Forecast, by Region, 2022-2032 ($Million)
5.3. Cardiology
5.3.1. Market Size and Forecast, 2022-2032 ($Million)
5.3.2. Market Size and Forecast, by Region, 2022-2032 ($Million)
5.4. Urology
5.4.1. Market Size and Forecast, 2022-2032 ($Million)
5.4.2. Market Size and Forecast, by Region, 2022-2032 ($Million)
5.5. Others
5.5.1. Market Size and Forecast, 2022-2032 ($Million)
5.5.2. Market Size and Forecast, by Region, 2022-2032 ($Million)
Chapter 6. Ultrasound Device Market by End-Use
6.1. Market Overview
6.2. Hospitals
6.2.1. Market Size and Forecast, 2022-2032 ($Million)
6.2.2. Market Size and Forecast, by Region, 2022-2032 ($Million)
6.3. Diagnostic Centers
6.3.1. Market Size and Forecast, 2022-2032 ($Million)
6.3.2. Market Size and Forecast, by Region, 2022-2032 ($Million)
6.4. Others
6.4.1. Market Size and Forecast, 2022-2032 ($Million)
6.4.2. Market Size and Forecast, by Region, 2022-2032 ($Million)
Chapter 7. Ultrasound Device Market, by Region
7.1. Overview
7.2. North America
7.2.1. Key Market Trends and Opportunities
7.2.2. North America Ultrasound Device Market Size and Forecast by Application, 2022-2032, ($Million)
7.2.3. North America Ultrasound Device Market Size and Forecast by End-Use, 2022-2032, ($Million)
7.2.4. North America Ultrasound Device Market Size and Forecast by Country, 2022-2032, ($Million)
7.2.5. The U.S.
7.2.5.1. The U.S. Ultrasound Device Market Size and Forecast by Application, 2022-2032, ($Million)
7.2.5.2. The U.S. Ultrasound Device Market Size and Forecast by End-Use, 2022-2032, ($Million)
7.2.6. Canada
7.2.6.1. Canada Ultrasound Device Market Size and Forecast by Application, 2022-2032, ($Million)
7.2.6.2. Canada Ultrasound Device Market Size and Forecast by End-Use, 2022-2032, ($Million)
7.2.7. Mexico
7.2.7.1. Mexico Ultrasound Device Market Size and Forecast by Application, 2022-2032, ($Million)
7.2.7.2. Mexico Ultrasound Device Market Size and Forecast by End-Use, 2022-2032, ($Million)
7.3. Europe
7.3.1. Key Market Trends and Opportunities
7.3.2. Europe Ultrasound Device Market Size and Forecast by Application, 2022-2032, ($Million)
7.3.3. Europe Ultrasound Device Market Size and Forecast by End-Use, 2022-2032, ($Million)
7.3.4. Europe Ultrasound Device Market Size and Forecast by Country, 2022-2032, ($Million)
7.3.5. Germany
7.3.5.1. Germany Ultrasound Device Market Size and Forecast by Application, 2022-2032, ($Million)
7.3.5.2. Germany Ultrasound Device Market Size and Forecast by End-Use, 2022-2032, ($Million)
7.3.6. France
7.3.6.1. France Ultrasound Device Market Size and Forecast by Application, 2022-2032, ($Million)
7.3.6.2. France Ultrasound Device Market Size and Forecast by End-Use, 2022-2032, ($Million)
7.3.7. U.K.
7.3.7.1. U.K. Ultrasound Device Market Size and Forecast by Application, 2022-2032, ($Million)
7.3.7.2. U.K. Ultrasound Device Market Size and Forecast by End-Use, 2022-2032, ($Million)
7.3.8. Spain
7.3.8.1. Spain Ultrasound Device Market Size and Forecast by Application, 2022-2032, ($Million)
7.3.8.2. Spain Ultrasound Device Market Size and Forecast by End-Use, 2022-2032, ($Million)
7.3.9. Italy
7.3.9.1. Italy Ultrasound Device Market Size and Forecast by Application, 2022-2032, ($Million)
7.3.9.2. Italy Ultrasound Device Market Size and Forecast by End-Use, 2022-2032, ($Million)
7.3.10. Rest of Europe
7.3.10.1. Rest of Europe Ultrasound Device Market Size and Forecast by Application, 2022-2032, ($Million)
7.3.10.2. Rest of Europe Ultrasound Device Market Size and Forecast by End-Use, 2022-2032, ($Million)
7.4. Asia-Pacific
7.4.1. Key Market Trends and Opportunities
7.4.2. Asia-Pacific Ultrasound Device Market Size and Forecast by Country, 2022-2032, ($Million)
7.4.3. Asia-Pacific Ultrasound Device Market Size and Forecast by Application, 2022-2032, ($Million)
7.4.4. Asia-Pacific Ultrasound Device Market Size and Forecast by End-Use, 2022-2032, ($Million)
7.4.5. China
7.4.5.1. China Ultrasound Device Market Size and Forecast by Application, 2022-2032, ($Million)
7.4.5.2. China Ultrasound Device Market Size and Forecast by End-Use, 2022-2032, ($Million)
7.4.6. India
7.4.6.1. India Ultrasound Device Market Size and Forecast by Application, 2022-2032, ($Million)
7.4.6.2. India Ultrasound Device Market Size and Forecast by End-Use, 2022-2032, ($Million)
7.4.7. Japan
7.4.7.1. Japan Ultrasound Device Market Size and Forecast by Application, 2022-2032, ($Million)
7.4.7.2. Japan Ultrasound Device Market Size and Forecast by End-Use, 2022-2032, ($Million)
7.4.8. South Korea
7.4.8.1. South Korea Ultrasound Device Market Size and Forecast by Application, 2022-2032, ($Million)
7.4.8.2. South Korea Ultrasound Device Market Size and Forecast by End-Use, 2022-2032, ($Million)
7.4.9. Rest of APAC
7.4.9.1. Rest of APAC Ultrasound Device Market Size and Forecast by Application, 2022-2032, ($Million)
7.4.9.2. Rest of APAC Ultrasound Device Market Size and Forecast by End-Use, 2022-2032, ($Million)
7.5. Rest of the World
7.5.1. Key Market Trends and Opportunities
7.5.2. Rest of the World Ultrasound Device Market Size and Forecast by Application, 2022-2032, ($Million)
7.5.3. Rest of the World Ultrasound Device Market Size and Forecast by End-Use, 2022-2032, ($Million)
7.5.4. Rest of the World Ultrasound Device Market Size and Forecast by Country, 2022-2032, ($Million)
7.5.5. Latin America
7.5.5.1. Latin America Ultrasound Device Market Size and Forecast by Application, 2022-2032, ($Million)
7.5.5.2. Latin America Ultrasound Device Market Size and Forecast by End-Use, 2022-2032, ($Million)
7.5.6. Middle East
7.5.6.1. Middle East Ultrasound Device Market Size and Forecast by Application, 2022-2032, ($Million)
7.5.6.2. Middle East Ultrasound Device Market Size and Forecast by End-Use, 2022-2032, ($Million)
7.5.7. Africa
7.5.7.1. Africa Ultrasound Device Market Size and Forecast by Application, 2022-2032, ($Million)
7.5.7.2. Africa Ultrasound Device Market Size and Forecast by End-Use, 2022-2032, ($Million)
7.5.8. Rest of LAMEA
7.5.8.1. Rest of LAMEA Ultrasound Device Market Size and Forecast by Application, 2022-2032, ($Million)
7.5.8.2. Rest of LAMEA Ultrasound Device Market Size and Forecast by End-Use, 2022-2032, ($Million)
Chapter 8. Competitive Landscape
8.1. Market Overview
8.2. Market Share Analysis/Key Player Positioning
8.3. Developmental Strategy Benchmarking
8.3.1. New Product Development
8.3.2. Product Launches
8.3.3. Business Expansions
8.3.4. Partnerships, Joint Ventures, and Collaborations
8.3.5. Mergers and Acquisitions
Chapter 9. Company Profiles
9.1. Konica Minolta Inc
9.1.1. Company Snapshot
9.1.2. Financial Performance
9.1.3. Product Offerings
9.1.4. Key Strategic Initiatives
9.1.5. SWOT Analysis
9.2. Esaote SpA
9.2.1. Company Snapshot
9.2.2. Financial Performance
9.2.3. Product Offerings
9.2.4. Key Strategic Initiatives
9.2.5. SWOT Analysis
9.3. Fujifilm Corporation
9.3.1. Company Snapshot
9.3.2. Financial Performance
9.3.3. Product Offerings
9.3.4. Key Strategic Initiatives
9.3.5. SWOT Analysis
9.4. General Electric Company
9.4.1. Company Snapshot
9.4.2. Financial Performance
9.4.3. Product Offerings
9.4.4. Key Strategic Initiatives
9.4.5. SWOT Analysis
9.5. Hitachi Ltd
9.5.1. Company Snapshot
9.5.2. Financial Performance
9.5.3. Product Offerings
9.5.4. Key Strategic Initiatives
9.5.5. SWOT Analysis
9.6. Koninklijke Philips N.V.
9.6.1. Company Snapshot
9.6.2. Financial Performance
9.6.3. Product Offerings
9.6.4. Key Strategic Initiatives
9.6.5. SWOT Analysis
9.7. Mindray Medical International Limited
9.7.1. Company Snapshot
9.7.2. Financial Performance
9.7.3. Product Offerings
9.7.4. Key Strategic Initiatives
9.7.5. SWOT Analysis
9.8. Samsung Medison Co Ltd
9.8.1. Company Snapshot
9.8.2. Financial Performance
9.8.3. Product Offerings
9.8.4. Key Strategic Initiatives
9.8.5. SWOT Analysis
9.9. Siemens Healthcare
9.9.1. Company Snapshot
9.9.2. Financial Performance
9.9.3. Product Offerings
9.9.4. Key Strategic Initiatives
9.9.5. SWOT Analysis
9.10. Toshiba Corporation
9.10.1. Company Snapshot
9.10.2. Financial Performance
9.10.3. Product Offerings
9.10.4. Key Strategic Initiatives
9.10.5. SWOT Analysis
*The list of companies is subject to change during the final compilation of the report
Key Players
Market Segmentation
By Application
- Radiology
- Cardiology
- Urology
- Others
By End-Use
- Hospitals
- Diagnostic Centers
- Others
By Region
- North America
- US
- Canada
- Mexico
- Europe
- UK
- France
- Germany
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
- Rest of the World
- Latin America
- Middle East
- Africa