Press release
Ultrasound Transducers Market Worth $5.5 billion by 2030
The rising prevalence of cardiovascular and abdominal disorders, technological developments in ultrasound, growing incidences of orthopedic injuries and musculoskeletal disorders, the rising geriatric population, and the increasing number of hospitals are the factors contributing to the growth of this market. Additionally, the emergence of POC ultrasound devices and emerging economies are expected to offer significant growth opportunities for the players operating in the ultrasound transducers market.
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COVID-19 Pandemic Impact on the Ultrasound Transducers Market
During the COVID-19 pandemic, imaging procedures were the essential component of care for patients with symptoms. Besides computed tomography (CT) and X-ray imaging, lung ultrasound (LUS) has become an emerging tool for assessing COVID-19 patients. LUS was used at the bedside as point-of-care ultrasound (PoCUS). Hence it was possible to examine the emergency department. Care against contamination was the main priority during the examination in healthcare settings. In such a case, the wireless ultrasound probe and the portable console were in a sterile cover. Subsequently, the probe and the console were disinfected and again put in a sterile cover after use.
The utility of lung ultrasound in COVID-19 involved many factors, including the patient's clinical presentation, the provider's practice environment, their access to resources & testing, expertise, experience, current epidemiological trends, healthcare system capacity, and infection transmission risk. Also, computer vision software, artificial intelligence, computer automation and quantification, telemedicine and other methods were researched and developed to study lung ultrasound optimization within and beyond the SARS-CoV-2 pandemic. Hence, the pleural and lung ultrasound were the alternative diagnostic test to assess the degree of involvement of the lung parenchyma by evaluating specific ultrasound patterns, identification of pleural effusions, and barotrauma.
However, due to the global focus on preventing the spread of COVID-19 infections, the use of ultrasound for other applications declined to some extent as patients were restricted in healthcare settings. But, post-pandemic, the demand for ultrasound procedures reached pre-pandemic levels as all the treatments and diagnoses resumed.
The ultrasound transducers market is segmented by Product (Convex, Linear, Endocavitary, Phased Array, CW Doppler, Others), Application (Diagnostic [Cardiovascular, General Imaging, Orthopedic & Musculoskeletal, Obstetrics & Gynecology (OB-GYN), Other Applications] and Therapeutic), End User (Hospitals & Clinics, Diagnostic Imaging Centers, Ambulatory Surgical Centers, Other End Users), and Geography. The study also evaluates industry competitors and analyzes the regional and country-level markets.
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Based on product, in 2023, the convex segment is expected to account for the largest share of the ultrasound transducers market. Factors contributing to the large share of this segment are its high efficiency in focusing on deeper organs compared to other transducers. It offers a wider footprint than linear-array configuration and focuses on the deep part of the targeted region. It also displays a clearer picture with highly improved reliability. These factors are anticipated to fuel the demand for a convex scanning transducer.
Based on application, in 2023, the diagnostics segment is expected to account for the largest share of the ultrasound transducers market. The large market share of this segment is attributed to the high demand for radiation-free and non-invasive diagnostic modalities for testing various disorders, including cardiovascular, orthopedic, and musculoskeletal, among others.
Based on end user, the ultrasound transducers market is segmented into hospitals & clinics, diagnostic imaging centers, ambulatory surgical centers, and other end users. In 2023, the hospitals & clinics segment is expected to account for the largest share of the ultrasound transducers market. Owing to the high adoption of ultrasound systems as the primary imaging option. The availability of portable ultrasound systems and the usage of this modality in each department is anticipated to boost the demand for ultrasound transducers. The rising number of healthcare facilities in emerging economies is one of the major demand drivers for ultrasound transducers. An increasing number of skilled professionals in hospitals and growing awareness regarding innovative devices are a few other driving factors affecting segment growth.
This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, and the Rest of Europe), Asia-Pacific (China, Japan, India, and RoAPAC), Latin America (Brazil, Mexico, and RoLATAM), and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the ultrasound transducers market, followed by Europe and Asia-Pacific. High demand for minimally invasive surgery, high incidence of chronic and lifestyle-related disorders, and technological advancements in ultrasound technology are the major factors responsible for the largest share of the region.
Key Players
The key players operating in the ultrasound transducers market are GE Healthcare (U.S.), Seimens Healthineers AG (Germany), Koninklijke Philips N.V. (Netherlands), FUJIFILM Sonosite, Inc. (U.S.), Canon Medical Systems Corporation (Japan), Hitachi Medical Corporation (Japan), Samsung Medison Co., Ltd. (South Korea), Esaote SpA (Italy), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), Carestream Health, Inc (U.S.), and ALPINION MEDICAL SYSTEMS Co., Ltd. (South Korea).
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Key questions answered in the report-
Which are the high-growth market segments in terms of product, application, end user, and geography?
What was the historical market for ultrasound transducers across the globe?
What are the market forecasts and estimates for the period 2023-2030?
What are the major drivers, restraints, opportunities, and challenges in the ultrasound transducers market?
Who are the major players in the ultrasound transducers market?
What is the competitive landscape, and who are the market leaders in the ultrasound transducers market?
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