Press release
Next-Gen Ultrasound Systems Market to Reach $19.52 Billion by 2031
Ultrasound Systems Market
According to company's newest research, the Global Next Generation Ultrasound Systems Market is estimated to reach over USD 19.52 billion by 2031, exhibiting a CAGR of 8.79% during the forecast period for 2023-2031.
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The rapidly growing population necessitates innovative and technologically advanced medical devices. Innovative healthcare quickly transitions from a traditional clinically engaged system to a distributed, patient-focused form. Artificial intelligence (AI) is generating enormous development and innovation in the healthcare industry. It is also accelerating drug research and discovery and enabling better and speedier diagnoses. Artificial intelligence (AI) has been shown to detect complex scan patterns and provide quantitative evaluations of imaging data.
Artificial intelligence (AI) enables the automation of time-consuming duties, quantification and selection of the optimal image segment from a 3-D dataset, visual mapping and annotation of screened anatomy, and voice recognition for hands-free operation. E.g. For hands-free operation, the most recent iteration of the Konica Minolta Sonimage HS1 employs AI-voice recognition. The revolutionary V Flow for vascular hemodynamic evaluation and intelligent plane acquisition from 3D datasets for foetal CNS diagnosis augment the clinical research capabilities of Mindray Resona 7.
As ultrasound technologies are cost-effective, securer, and offer immediate diagnosis & treatment of target diseases, their demand in disease management is anticipated to grow during the forecast period. Spreading awareness regarding the benefits of next-generation ultrasound devices is expected to propel product demand. Furthermore, the ageing population, fast adoption of advanced technologies, increasing government initiatives for R&D of new ultrasound systems, rising awareness programs, high prevalence of chronic diseases, rising number of clinical trials and health-conscious pregnant women will help to upscale this market. However, the high cost of ultrasound technologies and the complexity of handling devices are limiting the growth of this market.
The prominent market players
• BK Medical ApS (Analogic Corporation)
• Butterfly Network, Inc.
• Canon, Inc.
• Clarius Mobile Health
• Esaote SpA
• Fujifilm Holdings Corporation
• General Electric Company
• Healcerion Co., Ltd.
• Hitachi, Ltd.
• Hologic, Inc.
• Koninklijke Philips N.V.
• Samsung Electronics Co., Ltd.
• Shenzhen Mindray Bio-Medical
• Electronics Co., Ltd.
• Shimadzu Corporation
• Siemens Healthineers AG
• Other Prominent Players
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Market Insights:
Next-generation ultrasound system refers to a device that combines a number of imaging diagnoses related to a wide variety of clinical segments. The next-generation ultrasound systems have various advanced technologies with better quality, portability, cost and high performance. Next-generation ultrasound systems are beneficial in the treatment of chronic diseases. COVID-19 Pandemic is significantly increasing the need for ultrasound system devices, and hence, in future, there will be a high requirement for ultrasound devices, which will ultimately result in the next-generation ultrasound systems market growth.
Regional Trends:
Geographically, the North American region is the major revenue holder of this market due to the high demand for ultrasound systems, the augmented prevalence of chronic diseases, and growing government investments in the R&D of next-generation ultrasound systems to treat various chronic diseases. On the other hand, Europe will also dominate the market during the projection period due to the fast adoption of medical technologies and the rising prevalence of chronic diseases. The Asia-Pacific market is anticipated to grow faster owing to growing ultrasound systems manufacturing industries and the high prevalence of chronic diseases.
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The Key developments
• In Nov 2022, At the Radiological Society of North America (RSNA), Philips announced the worldwide debut of a next-generation compact portable ultrasound system. The Compact 5000 Series from Philips intends to deliver the diagnostic quality associated with premium cart-based ultrasound equipment to a broader range of patients. The Compact 5000 series, designed for mobility and adaptability without compromising image resolution or performance, enables more patients to get first time-right ultrasound tests.
• In July 2022, Siemens Healthineers exhibits its updated Acuson family at the European Congress of Radiology (ECR) in Vienna. The redesigned ultrasound product line is intended to provide even greater clinical adaptability and to meet the challenges of a variety of clinical applications. Launching 12 new transducers across four ultrasound systems and expanding AI-powered tools1 enables a new level of versatility, resulting in greater efficiency and consistency for clinicians.
• In Nov 2020, Konica Minolta Healthcare Americas, Inc. unveiled the SONIMAGE HS2, a next-generation, small ultrasound system with increased picture quality and novel features designed for point-of-care applications. The HS2 System, which is based on the company's breakthrough ultrasound technology, provides higher picture quality and easier operation to enable doctors to address a wide range of therapeutic applications in musculoskeletal, vascular, pain management, interventional, and orthobiologics.
• In September 2019, Butterfly Launched the New Ultrasound Technology in the U.K. A device has the potential to alter the way ultrasound scans are performed. In a nutshell, Butterfly Network's technology turns a smartphone into an ultrasound machine.
Market Segmentation:
Global Next Generation Ultrasound Systems Market, by Application, 2023-2031 (Value US$ Bn)
• Monitoring and Diagnostics
• Therapeutics
Global Next Generation Ultrasound Systems Market, by Products, 2023-2031 (Value US$ Bn)
• Diagnostic Ultrasound Systems
• Therapeutic Ultrasound Systems
Global Next Generation Ultrasound Systems Market, by Technology, 2023-2031 (Value US$ Bn)
• 4D/3D Ultrasound Systems
• 2D Ultrasound Systems
• Others (Fusion Imaging Tissue Harmonic Imaging)
Global Next Generation Ultrasound Systems Market, by Portability, 2023-2031 (Value US$ Bn)
• Cart/Trolley-Based Systems
• Handheld Devices and Wearables
• Portable Systems
Global Next Generation Ultrasound Systems Market, by End-Users, 2023-2031 (Value US$ Bn)
• Hospitals
• Diagnostic Centers
• Ambulatory Surgical Centers (ASCs)
• Other End-User
Global Next Generation Ultrasound Systems Market, by Region, 2023-2031 (Value US$ Bn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Next Generation Ultrasound Systems Market, by Country, 2023-2031 (Value US$ Bn)
• U.S.
• Canada
Europe Next Generation Ultrasound Systems Market, by Country, 2023-2031 (Value US$ Bn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Next Generation Ultrasound Systems Market, by Country, 2023-2031 (Value US$ Bn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Next Generation Ultrasound Systems Market, by Country, 2023-2031 (Value US$ Bn)
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Next Generation Ultrasound Systems Market, by Country, 2023-2031 (Value US$ Bn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa
Why should buy this report:
To receive a comprehensive analysis of the prospects for the Next Generation Ultrasound Systems Market
To receive an industry overview and future trends of the Next Generation Ultrasound Systems Market
To analyze the Global Next Generation Ultrasound Systems Market drivers and challenges
To get information on the Global Next Generation Ultrasound Systems Market size (Value US$ Mn) forecast to 2031
Significant investments, mergers & acquisitions in the Global Next Generation Ultrasound Systems Market industry
About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
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