Exploring Europe's Ultrasound Device Market Outlook for 2023-2028: Opportunities and Challenges | Renub Research

According to Renub Research's latest report, "Europe Ultrasound Device Market, Size, Forecast 2023-2028, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis," Europe Ultrasound Device Market was US$ 2.29 Billion in 2022. Ultrasound, also referred to as a sonogram, employs sound waves to generate an image of internal body structures, including organs and tissues. Ultrasound is a non-invasive imaging technique, which means it does not require any cuts or injections, which makes it a safe and painless procedure that does not carry the risk of infection or other complications associated with invasive procedures. In addition, unlike X-rays and CT scans, ultrasound does not use ionizing radiation; this makes it a safer option for patients needing repeated imaging studies.

Ultrasound can image many different body organs and tissues, such as the heart, liver, kidneys, and uterus. It is also frequently used to guide needle biopsies or other medical procedures. In addition, many ultrasound devices are portable and easily transported to a patient's bedside or other locations. This makes it a convenient option for medical professionals who need to perform imaging studies in various settings. In addition, ultrasound is generally less expensive than other imaging techniques, like CT scans or MRIs, making it a more cost-effective option for patients and healthcare providers.

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Factors Driving Ultrasound Devices Industry

• The aging population in France has caused a surge in demand for monitoring and diagnostic services for chronic diseases. This increase in usage is due to ultrasound devices becoming valuable tools for diagnosing and monitoring these conditions.

• In addition, the growth is due to the availability of universal coverage for ultrasound services in the French healthcare system. As a result, ultrasound has become the preferred diagnostic option, particularly in prenatal care.

• Furthermore, the French government has invested in developing medical imaging technology, including ultrasound devices, in improving the quality and accessibility of healthcare services. As a result, medical facilities across France have adopted more advanced and up-to-date ultrasound equipment.

Europe Ultrasound Devices Market shall grow in the future at a CAGR of 5.06% from 2022-2028

Europe's growing aging population is driving demand for medical imaging services. The ultrasound finds its usage in diagnosing and monitoring age-related conditions such as cardiovascular disease, arthritis, and cancer. For instance, in the United Nations Population Fund's World Population Statistics 2022, Italy has approximately 24.1% of the population aged 65 and above. Thus, the increasing aging population is prone to chronic diseases. As a result, the demand for ultrasound devices is rising.

Chronic diseases like diabetes, obesity, and hypertension are rising in Europe, increasing the need for medical imaging services. The GLOBOCAN report of 2020 revealed that Germany had 628,519 new cancer cases diagnosed. Breast and colorectal cancer were commonly diagnosed in females, whereas males had a higher prostate and lung cancer prevalence. Ultrasound often finds its use in diagnosing and monitoring these conditions, making it a valuable tool for managing chronic diseases.

Furthermore, the development of new ultrasound technologies has improved image quality and increased functionality, allowing the usage of ultrasound for a broader range of applications. For example, 3D and 4D ultrasound imaging have become more widely available, providing more detailed and realistic images of internal organs and structures.

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Providing Quick and Accurate results is the reason Portable Ultrasound Devices are Thriving

Portable ultrasound devices have improved image quality and functionality, making them helpful in diagnosing and monitoring various conditions in medical settings. They are a cost-effective option compared to larger imaging systems and can reduce the need for invasive procedures. They can also be used for point-of-care testing, providing quick and accurate results at the bedside or in other clinical settings. In addition, portable ultrasound devices are essential in remote healthcare, allowing for diagnosis and monitoring without requiring patients to travel to a medical facility.

Dominance of General Imaging is due to its Convenience in Usage

General imaging ultrasound is a versatile and non-invasive modality that can visualize various organs and tissues, including the abdomen, pelvis, and thyroid gland. It can guide interventional procedures and is widely available in Europe, making it a convenient option for healthcare providers. The growing demand for ultrasound services, driven by an aging population and the prevalence of chronic diseases, has also contributed to its dominance in medical imaging.

Demand for 3D and 4D Ultrasound Devices will Grow in the Coming Years

The availability of high-quality 3D and 4D ultrasound imaging, made possible by advances in ultrasound technology, has made it a valuable tool for prenatal diagnosis and monitoring. There is a growing demand for 3D and 4D ultrasound services in Europe, as many expectant parents want to see their babies before birth and are willing to pay for private scans. This type of imaging is widely available in medical facilities throughout Europe, making it convenient for patients to access.

Furthermore, 3D and 4D ultrasound provide more detailed information about fetal development and anatomy, allowing for earlier and more accurate diagnoses of certain conditions, which has increased their value in prenatal diagnosis and management.

Hospitals are dominating the Ultrasound Devices Market in terms of Usage

Hospitals are the primary location for medical imaging services and have the necessary resources to support the use of ultrasound devices. With a larger volume of patients, hospitals require more diagnostic imaging services, including ultrasound. Ultrasound devices are used across various medical fields, making them an essential tool in hospital settings.

Hospitals have a higher budget for medical equipment, allowing them to invest in the latest ultrasound technology, providing improved image quality and functionality for more accurate diagnoses and better patient care. Additionally, hospitals are often the location for medical education and research, where ultrasound devices are used in teaching healthcare providers and investigating new applications and techniques for ultrasound imaging.

Competitive Landscape:

Some key companies operating in the European region are Hologic Inc., Samsung Electronics Co. Ltd., Canon Medical Systems Corporation, Siemens AG, and Koninklijke Philips NV.

Market Summary:

• Types: The report covers Europe's Ultrasound Device Market by type in 2 viewpoints (Stationary Ultrasound and Portable Ultrasound).

• Application: Europe Ultrasound Device Market by Application breaks up into 4 viewpoints (General Imaging, Cardiology, Obstetrics/Gynaecology, and Others).

• Technology: The report covers Europe Ultrasound Device Market by technology in 5 viewpoints (2D Ultrasound, 3D & 4D Ultrasound, Dopler Ultrasound, High-Intensity Focused Ultrasound, and Others).

• End-User - The Report Covered Europe Ultrasound Devices Market by End-User breakup into 3 viewpoints (Hospitals, Diagnostic Centres, and Others).

• Country: Europe Ultrasound Device Market by Country is divided into 7 viewpoints (Germany, France, United Kingdom, Italy, Spain, Poland, and the rest of Europe).

• Key Players: All the major players have been covered from 3 Viewpoints (Overview, Recent Developments, and Revenue) Hologic Inc., Samsung Electronics Co. Ltd., Canon Medical Systems Corporation, Siemens AG, and Koninklijke Philips NV.

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