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Ultrasonic Technology Market 2023 - Size, Major Drivers, Growth Prospects, Key Players, And Forecast To 2032
Ultrasonic Technology Market Analysis
Ultrasonic Technology Market Size, Growth Rate, And Forecast
The global ultrasonic technology market size grew from $1.86 billion in 2022 to $2.1 billion in 2023 at a compound annual growth rate (CAGR) of 13.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The ultrasonic technology market size is expected to grow to $3.3 billion in 2027 at a CAGR of 12.0%.
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Ultrasonic Technology Market Drivers
The growing demand from the medical sector is expected to propel the growth of the ultrasonic technology market going forward. Businesses that provide medical services, manufacture medical equipment or medications, provide health coverage, or otherwise enable the provision of healthcare to patients make up the healthcare sector. In medicine, ultrasound imaging, also known as sonography, is employed frequently. Ultrasound is used to discover unseen faults in products and structures during non-destructive testing.
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Ultrasonic Technology Market Segments
1) By Type: Ultrasonic Proximity Sensor, Ultrasonic Retro-Reflective Sensor, Ultrasonic Through-Beam Sensor
2) By Technology: Ultrasonic Medical Technology, Ultrasonic Processing Technology, Ultrasonic Testing Technology
3) By Application: Welding, Cleaning, Inspections, Other Applications
4) By End User: Automotive, Food and beverage, Medical and healthcare, Aerospace and defense, Industrial, Other End Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the ultrasonic technology market.
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Ultrasonic Technology Market Key Players
Major competitors in the ultrasonic technology market include GE Healthcare, Philips, Olympus Corporation, Siemens Healthineers, Hitachi, Canon Medical, Carestream.
The Business Research Company's "Global Ultrasonic Technology Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Ultrasonic Technology Market Include:
1. Executive Summary
2. Ultrasonic Technology Market Characteristics
3. Ultrasonic Technology Market Trends And Strategies
4. Ultrasonic Technology Market - Macro Economic Scenario
5. Ultrasonic Technology Market Size And Growth
…….
26. Africa Ultrasonic Technology Market
27. Ultrasonic Technology Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Ultrasonic Technology Market
29. Ultrasonic Technology Market Future Outlook and Potential Analysis
30. Appendix
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