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Ultrasonic Technology Global Market Report 2024 To 2033 | Emerson Eletric, Siemens AG, Koninklijke Philips N.V., Olympus Corporation, General Electric Company, Crest Ultrasonics Corp
Ultrasonic Technology Market Share
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According to The Business Research Company's, The ultrasonic technology market size has grown rapidly in recent years. It will grow from $2.12 billion in 2023 to $2.4 billion in 2024 at a compound annual growth rate (CAGR) of 13.3%. The growth in the historic period can be attributed to strong economic growth in emerging markets, growth in demand from the medical sector, growth in government initiatives and the rapid industrialization and growth in manufacturing industries.
The ultrasonic technology market size is expected to see rapid growth in the next few years. It will grow to $4.1 billion in 2028 at a compound annual growth rate (CAGR) of 14.3%. The growth in the forecast period can be attributed to the increasing prevalence of chronic illness, the increasing aging population, the growth in the retail sector and the rising public concerns related to optimal food safety and quality. Major trends in the forecast period include focus on use of artificial intelligence (ai), focus on 3d ultrasound technology, launch of compact portable ultrasound, increasing investments, product innovations and strategic partnerships and collaborations.
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Market Drivers and Trends:
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. For instance, according to PolicyAdvice, an insurance company, global healthcare spending is expected to reach $10 trillion by 2022. In addition, McKesson is the largest healthcare firm in the United States, with $208.3 billion in yearly revenue. Therefore, the growing demand from the medical sector drives the growth of the ultrasonic technology market.
The use of artificial intelligence is a key trend gaining popularity in the ultrasound technology market. Artificial intelligence transforms medical images into high-throughput mineable data. For example, in February 2023, Samsung, a South Korea-based manufacturing conglomerate, launched a new women's health ultrasound system, the Hera W10 Elite, which offers visualization features, artificial intelligence (AI)-aided tools and clinical applications for Obstetrics and Gynecology. It provides 2D and 3D visualizations of microcirculatory and slow blood. It features an Advanced MV (microvascular)-Flow feature and a larger organic light-emitting diode (OLED) display that provides an improved characterization of diverse ultrasound images.
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Major Key Players of the Market:
SmileDirectClub, Koninklijke Philips N.V, Align Technology, Inc, Patterson Companies Inc, The TeleDentists,Dentulu Inc, Toothpic, Medvivo, Sesame Inc, Virtudent, Inc., Clove Dental, Lybrate, Toothsi, MobiDent, Orthodontist, iKang Guobin, Qare, Dentaly.org, Teladent, Dentasafe, Dentego, Zahnarzt-Hotline, Tandakuten, SmileMate, Stomateka, Teledentistry, Dentaltap, DentistulTau, Dentim Clinic, Dentist. Cz, Candid Clear Aligners, Byte Aligners, DentalChat, Denteractive, DigiDentista, Odonto Virtual, Dentalis, Odontología Virtual, Dentalink, Odontovida, Smileneo, 99Health LLC, Vezeeta, Okadoc, Altibbi, Appolonia World, Sno Dental Clinins, Souq Dental, Pearl Dental Clinic, DSI Dental Solutions, Dentalwize, OptiSmile Advanced Dentistry
Ultrasonic Technology Market 2024 Key Insights:
• The ultrasonic technology market size is expected to see rapid growth in the next few years. It will grow to $4.1 billion in 2028 at a compound annual growth rate (CAGR) of 14.3%.
• Growing Demand From The Medical Sector Fuels Ultrasonic Technology Market Growth
• AI Integration Emerges As A Key Trend In The Ultrasound Technology Market
• Asia-Pacific was the largest region in the ultrasonic technology market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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