Press release
Next Generation Ultrasound Systems Market Growth Fueled by AI Integration and Technological Innovation with Projected Value of $19.66 Billion by 2031
Next-generation Ultrasound System Market
According to company's newest research, the Global Next Generation Ultrasound Systems Market is estimated to reach over 19.66 Bn by the year 2031 , exhibiting a CAGR of 9.00% during the forecast period for 2024-2031.
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The rapidly expanding global population is driving the need for innovative and technologically advanced medical devices. Healthcare is evolving from a traditional, clinically focused system to a more distributed and patient-centric model. Artificial intelligence (AI) is playing a pivotal role in this transformation, fostering significant advancements and innovations within the healthcare sector. AI is enhancing drug research and discovery processes, as well as enabling faster and more accurate diagnoses. It has demonstrated the ability to detect complex patterns in scans and provide quantitative assessments of imaging data.
AI also facilitates the automation of time-consuming tasks, such as quantifying and selecting optimal image segments from 3D datasets, mapping and annotating anatomy, and enabling voice recognition for hands-free operation. For instance, the latest version of the Konica Minolta Sonimage HS1 ultrasound system incorporates AI-powered voice recognition for hands-free functionality. Similarly, Mindray Resona 7 integrates advanced technologies like the V Flow for vascular hemodynamic evaluation and intelligent plane acquisition from 3D datasets, which enhance its clinical research capabilities in areas such as fetal central nervous system (CNS) diagnosis.
The demand for ultrasound technologies is anticipated to increase due to their cost-effectiveness, safety, and ability to provide rapid diagnosis and treatment of various conditions. Growing awareness of the advantages of next-generation ultrasound devices is expected to further stimulate market demand. Additionally, factors such as an aging population, the widespread adoption of advanced technologies, increased government investment in ultrasound research and development, and rising awareness programs are expected to drive market growth. The high prevalence of chronic diseases, an increase in clinical trials, and the rising number of health-conscious pregnant women will also contribute to market expansion. However, challenges such as the high cost of ultrasound technologies and the complexity associated with handling these devices may impede the market's growth potential.
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 systems are advanced medical devices that integrate various imaging diagnostics across a wide range of clinical applications. These systems feature cutting-edge technologies that offer enhanced image quality, portability, cost efficiency, and high performance. They are particularly valuable in the management of chronic diseases. The COVID-19 pandemic has significantly increased the demand for ultrasound systems, and this trend is expected to continue, driving substantial growth in the next-generation ultrasound systems market in the coming years.
Regional Trends:
North America currently holds the largest share of the next-generation ultrasound systems market, driven by high demand, the growing prevalence of chronic diseases, and significant government investments in the research and development of advanced ultrasound technologies for chronic disease treatment. Europe is also projected to maintain a strong position in the market throughout the forecast period, owing to the rapid adoption of medical technologies and the rising incidence of chronic diseases. The Asia-Pacific region is expected to experience the fastest growth, supported by the expanding ultrasound manufacturing industry and the increasing prevalence of chronic conditions.
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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
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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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