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3D And 4D Ultrasound Devices Global Market Size, Growth Share, Opportunities 2024-2033 | Hitachi Ltd., Medtronic plc, Toshiba Corporation, Siemens Healthineers, Koninklijke Philips N.V.
3D And 4D Ultrasound Devices Global Market
According to The Business Research Company's, The 3D and 4D ultrasound devices market size has grown exponentially in recent years. It will grow from $9.34 billion in 2023 to $11.53 billion in 2024 at a compound annual growth rate (CAGR) of 23.4%. The growth in the historic period can be attributed to increased prevalence of chronic diseases, growing aging population, rising awareness and education, expanding applications in obstetrics and gynecology, government initiatives and funding.
The 3D and 4D ultrasound devices market size is expected to see exponential growth in the next few years. It will grow to $26.26 billion in 2028 at a compound annual growth rate (CAGR) of 22.8%. The growth in the forecast period can be attributed to increasing focus on telemedicine, emerging markets and economic growth, advancements in 4d imaging technology, personalized medicine and precision healthcare, miniaturization and portability. Major trends in the forecast period include advancements in 4d imaging technology, technological advancements, advancements in imaging technology, advancements in image resolution and clarity.
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Market Drivers and Trends:
The increasing prevalence of chronic diseases is expected to propel the growth of the 3D and 4D ultrasound devices market going forward. Chronic diseases refer to long-term health conditions that persist over an extended period and often require ongoing management and medical care. The increasing prevalence of chronic diseases is primarily attributed to sedentary lifestyles, unhealthy diets, and an aging population. 3D and 4D ultrasound devices aid in diagnosing and monitoring chronic diseases by providing detailed, three-dimensional images that enhance visualization and assessment of affected organs and structures. For instance, according to the National Center for Biotechnology Information (NCBI), a US-based National Library of Medicine, It is projected that by the year 2050, the number of individuals aged 50 years and above having at least one chronic illness will surge by 99.5%, rising from 71.522 million in 2020 to 142.66 million. Therefore, the increasing prevalence of chronic diseases drives the growth of the 3D and 4D ultrasound devices market.
Major companies operating in the 3D and 4D ultrasound devices market focus on developing technologically advanced products, such as ultrasound-on-chip technology, to enhance imaging capabilities and drive innovation in medical diagnostics. It miniaturizes ultrasound components onto a single chip, enabling compact and portable ultrasound devices for various medical imaging applications. This innovation enhances accessibility to ultrasound diagnostics with potential advancements in point-of-care and wearable healthcare devices. For instance, in June 2023, Butterfly Network Inc., a US-based manufacturer of medical imaging devices, launched the Butterfly iQ3, the latest iteration of its handheld point-of-care ultrasound (POCUS) system. It utilizes P4.3 ultrasound-on-chip technology, featuring the world's fastest digital data transfer rate. This system is engineered to deliver enhanced high-resolution imaging and portable ultrasound imaging with advanced 3D capabilities and boasts double the processing power of its forerunner, the Butterfly iQ+.
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Major Key Players of the Market:
Hitachi Ltd., Medtronic plc, Toshiba Corporation, Siemens Healthineers, Koninklijke Philips N.V., GE HealthCare Technologies Inc., Fujifilm Holdings Corporation, Konica Minolta Healthcare Americas Inc., Hologic Inc., Mindray Medical International Limited, Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Canon Medical Systems Corporation, Carestream Health Inc., Samsung Medison Co. Ltd., Analogic Corporation, Mobisante Inc., Esaote S.p.A, SonaCare Medical LLC, ContextVision AB, Shimadzu Medical Systems USA, Delphinus Medical Technologies Inc., Terason, Alpinion Medical Systems Co. Ltd., Shenzhen Bestman Instrument Co. Ltd., Chison Medical Technologies Co. Ltd.
3D And 4D Ultrasound Devices Market 2024 Key Insights:
• The 3D And 4D Ultrasound Devices Market is expected to grow to $26.26 billion in 2028 at a compound annual growth rate (CAGR) of 22.8%.
• 3D And 4D Ultrasound Devices Market Surges As Chronic Disease Prevalence Drives Demand For Advanced Diagnostic Technologies
• Key Players Revolutionizing Medical Imaging To Enhance The Emergence Of Portable Ultrasound Devices
• North America was the largest region in the 3D and 4D ultrasound devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the 3D and 4D ultrasound devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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