Ultrasound Market by Size, Share, Forecasts, & Trends Analysis

[Redding, California - Jan 01, 2024] - Meticulous Research®, a distinguished name in the field of market research, proudly announces the release of its latest report, titled 'Ultrasound Market by Component (Device, Probe, Gel) Technology (2D, 3D, Doppler, Lithotripsy) Display (Color, B/W) Portability (Cart, Handheld, POC), Application (Cardiology, Gynecology, Urology, Therapeutic, Vascular) End User - Global Forecast to 2030.

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In this groundbreaking publication, Meticulous Research® forecasts a remarkable Compound Annual Growth Rate (CAGR) of 5.8% from 2023, propelling the ultrasound market to a projected value of $17.08 billion by 2030. This anticipated growth is attributed to various factors, including the aging global population with chronic ailments, advancements in ultrasound device technology, the escalating number of diagnostic imaging centers and hospitals, the surge in orthopedic injuries and musculoskeletal disorders, and heightened public and private investments, funding, and grants for ultrasound device development. Notably, the emergence of point-of-care ultrasound devices and the increasing demand from emerging economies are expected to usher in significant growth opportunities for companies within the ultrasound market.

However, the market faces challenges due to stringent government regulations governing the trading, manufacturing, distribution, and sales of ultrasound imaging products.

Key Players at the Forefront

Leading the charge in the ultrasound market are key players such as GE Healthcare Technologies Inc. (U.S.), Konica Minolta, Inc. (Japan), Koninklijke Philips N.V. (Netherlands), Siemens Healthineers AG (Germany), Canon Inc. (Japan), Esaote S.p.A (Italy), Shenzhen Mindray Bio-Medical Electronics Co., Ltd (China), Samsung Medison Co., Ltd. (South Korea), FUJIFILM SonoSite, Inc. (A Subsidiary of FUJIFILM Holdings Corporation) (U.S.), and Hologic, Inc. (U.S.).

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Ultrasound Market: A Glimpse into the Future

The ultrasound market is intricately segmented by component, technology, display, portability, application, and end user, offering a comprehensive view of its landscape. This report delves into the competitive landscape, analyzing the market at both regional and country levels.

Key Findings by Segment:

Component Segment (2023): The ultrasound devices segment is poised to dominate the market, owing to technological advancements, a rising geriatric population with chronic conditions, an uptick in orthopedic injuries, and the increasing number of hospitals.

Technology Segment (2023): The diagnostic ultrasound segment is expected to lead, driven by the growing demand for 2D ultrasound in obstetrics/gynecology, technological advancements, and an increasing incidence of orthopedic injuries and musculoskeletal conditions.

Display Segment (2023): The color display segment is anticipated to capture the largest market share due to its advantages, including quantitative and multiparameter presentation, heightened contrast sensitivity, and enhanced accuracy in diagnosis and treatment.

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Portability Segment (2023): The cart/trolley-based ultrasound systems are projected to secure the largest market share, attributed to their user-friendly nature, advanced applications, flexibility, durability, and innovative features.

Application Segment (2023): Diagnostic applications are set to dominate the market, driven by the increasing demand for radiation-free and non-invasive diagnostic modalities for various disorders.

End User Segment (2023): Hospitals and clinics are expected to account for the largest share, owing to the widespread adoption of ultrasound systems as the primary imaging option.

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Geographic Landscape (2023): North America is poised to lead the ultrasound market, driven by a high demand for minimally invasive surgery, a significant incidence of chronic and lifestyle-related disorders, and technological advancements in ultrasound technology.

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About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
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This release was published on openPR.