Press release
Global Ultrasonic Technology Market Projected to Surpass $4.71 Billion by 2029 with 15.6% Annual Growth
Ultrasonic Technology
The ultrasonic technology market's expansion is projected to be driven by increasing demand from the medical sector. The healthcare industry comprises businesses that offer medical services, produce medical devices or medications, provide health insurance, or otherwise facilitate health services for patients. Ultrasound imaging, also known as sonography, is a common tool in medicine. Ultrasound is utilized in non-destructive testing to uncover hidden flaws in products and structures. Global healthcare spending, according to the insurance firm PolicyAdvice, is anticipated to hit $10 trillion by 2022. Furthermore, McKesson, a healthcare company that generates an annual revenue of $208.3 billion, is the largest in the United States. As a result, the escalating demand from the medical sector is fueling growth in the ultrasonic technology market.
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How will the growth rate of the ultrasonic technology market shape industry trends by 2034?
There has been substantial expansion of the ultrasonic technology market size in the recent past. A progression from the market value of $2.34 billion in 2024 to $2.64 billion in 2025 is forecasted, a compound annual growth rate (CAGR) of 12.5% being involved. The expansion observed during the historic phase is due to sturdy economic development in the burgeoning markets, escalating demand from the medical industry, expansion of governmental initiatives and quick industrialization along with growth in the manufacturing sector.
The market size of ultrasonic technology is forecasted to experience significant growth in the coming years, reaching $4.71 billion in 2029 with a compound annual growth rate (CAGR) of 15.6%. Factors contributing to this anticipated growth during the forecast period include a higher prevalence of chronic diseases, the surge in the aging population, expansion of the retail industry, and growing public awareness regarding the importance of food safety and quality. The forecast period is also expected to witness several trends such as the emphasis on artificial intelligence (AI) use, a focus on 3D ultrasound technology, the introduction of compact portable ultrasounds, and a rise in investments, product innovations, alongside strategic partnerships and collaborations.
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What new trends are reshaping the ultrasonic technology market and its opportunities?
Artificial intelligence implementation is an emerging trend in the ultrasound technology market. This innovation turns medical images into data that can be mined extensively. In a case in point, Samsung, the South Korean manufacturing titan, in February 2023 unveiled a novel women health ultrasound system, the Hera W10 Elite. The system, equipped with artificial intelligence-enhanced functionality and clinical applications, brings a new dimension in Obstetrics and Gynecology. It allows both 2D and 3D visualization of microcirculatory and slow blood. Also, an Advanced MV (microvascular)-Flow characteristic and a more extensive organic light-emitting diode (OLED) showcase are included for superior characterization of varied ultrasound images.
Which primary segments of the ultrasonic technology market are driving growth and industry transformations?
The ultrasonic technology market covered in this report is segmented -
1) By Type: Ultrasonic Proximity Sensor, Ultrasonic Retro-Reflective Sensor, Ultrasonic Through-Beam Sensor, Other Types
2) By Technology: Ultrasonic Medical Technology, Ultrasonic Processing Technology, Ultrasonic Testing Technolog, Other Technologies
3) By Application: Welding, Cleaning, Inspections, Other Applications
4) By End User: Automotive, Food and beverage, Medical and healthcare, Aerospace and defense, Industrial, Other End Users
Subsegments:
1) By Ultrasonic Proximity Sensor: Non-Contact Ultrasonic Proximity Sensors, Short-Range Ultrasonic Proximity Sensors
2) By Ultrasonic Retro-Reflective Sensor: Fixed Ultrasonic Retro-Reflective Sensors, Adjustable Ultrasonic Retro-Reflective Sensors
3) By Ultrasonic Through-Beam Sensor: Transmitter-Receiver Through-Beam Sensors, Reflective Through-Beam Sensors
4) By Other Types: Ultrasonic Flow Meters, Ultrasonic Cleaning Equipment, Ultrasonic Thickness Gauges
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Which geographical regions are pioneering growth in the ultrasonic technology market?
Asia-Pacific was the largest region in the ultrasonic technology market in 2024. The regions covered in the ultrasonic technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the influential players reshaping the ultrasonic technology market landscape?
Major companies operating in the ultrasonic technology market include Emerson Electric, Siemens AG, Koninklijke Philips N.V., Olympus Corporation, General Electric Company, Crest Ultrasonics Corp., Honeywell International Inc, Rockwell Automation Inc., Pepperl+Fuchs AG, Omron Corporation, Emcolite Ultrasonics, Paavan Electronic Industries, Nanjing AMIS Medical Technology Co. Ltd, Novalion Medical Instrument Co. Ltd, Guangzhou Happycare Electronics Co. Ltd, Shenzhen Bondway Electronics Co. Ltd, Guangzhou Medsinglong Medical Equipment Co. Ltd, Hilsonic, Canongate Technology Ltd, Cambridge Ultrasonics, Telsonic AG, DGM, Ultratecno, Sonotec, Roop Ultrasonic, Elma Ultrasonic, L&R Ultrasonics, Coltene-Whaledent, Omegasonics, Ultrasonic Power Corporation, Sonicor, Gesswein, Contrinex, STULZ, Abdul Latif Jameel Health, PulseNmore, Dallah Health Company, Canon Medical Systems Corporation, Fujifilm Holdings Corporation, Mindray Medical International Limited, Omega Africa Agencies (Pty) Ltd, Specmed Medical Services, Autowatch, Selective Instrumentation, Controlare and Diel (Pty) Ltd
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What Is Covered In The Ultrasonic Technology Global Market Report?
• Market Size Forecast: Examine the ultrasonic technology market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the ultrasonic technology market for a structured understanding.
• Key Players Overview: Analyze major players in the ultrasonic technology market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the ultrasonic technology market.
• Segment Contributions: Evaluate how different segments drive overall growth in the ultrasonic technology market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the ultrasonic technology market.
• Industry Challenges: Identify potential risks and obstacles affecting the ultrasonic technology market.
• Competitive Landscape: Review strategic developments in the ultrasonic technology market, including expansions, agreements, and new product launches.
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