Press release
Diagnostic Ultrasound Industry Growth Outlook: 5.4% CAGR and $9.81 Billion by 2029
Diagnostic Ultrasound
What Is the Long-Term Growth Forecast for the Diagnostic Ultrasound Market Size 2025?
In recent times, the size of the diagnostic ultrasound market has significantly expanded. It is projected to swell from $7.52 billion in 2024 to $7.95 billion in 2025, registering a compound annual growth rate (CAGR) of 5.7%. Factors such as a surge in the application of ultrasound in emergency care situations, greater accessibility to proficient ultrasound technicians, escalating preference for 3D or 4D imaging technologies, the increasing amalgamation of PACS with ultrasound systems, and a rise in the application of ultrasound in veterinary diagnostics have contributed to its growth during the historic period.
What CAGR is Forecasted for the Diagnostic Ultrasound Market Through 2029?
The size of the diagnostic ultrasound market is set to experience significant expansion in the forthcoming years. It is predicted to escalate to $9.81 billion by 2029, with an annual compounded growth rate of 5.4%. This projected growth pattern during the forecast period may be credited to the increasing utilization of tele-ultrasound solutions, a surge in demand for fusion imaging which integrates ultrasound with CT or MRI, escalating government funding in imaging infrastructure, a noticeable shift towards value-oriented healthcare, and the widened application of ultrasound in home healthcare environments. Notable trends during this period are expected to consist of advancements in ultrasound contrast agents for superior imaging, modernized elastography techniques for tissue characterization, the creation of portable ultrasound probes for better mobility, novelty in ultrasound-powered drug delivery systems, and progress in ultrasound-guided robotic strategies.
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What Are the Critical Factors Driving Diagnostic Ultrasound Market Development?
The growth of the diagnostic ultrasound market is predicted to be driven by the increasing preference for minimally invasive surgeries. These medical procedures, performed with small incisions using specialized tools and imaging technologies, create less bodily trauma compared to conventional open surgeries. They are favored due to their benefits, such as quicker patient recovery, less pain, and fewer complications than traditional surgeries. Diagnostic ultrasound enhances these surgeries by providing live imaging guidance, facilitating accurate targeting, enhancing surgical accuracy, and reducing the requirement for more invasive diagnostic procedures. For example, The Aesthetic Society, a US-based plastic surgery and cosmetic medicine organization, reported in August 2023 that Americans had spent over $11.8 billion on minimally invasive surgeries in total, a 2% rise from the previous year. Hence, the growing preference for minimally invasive surgeries is fueling the development of the diagnostic ultrasound market.
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How Does the Diagnostic Ultrasound Market Break Down Across Major Segments?
The diagnostic ultrasound market covered in this report is segmented -
1) By Technology: Two-Dimensional (2D) Ultrasound Imaging, Three-Dimensional (3D) And Four-dimensional (4D) Ultrasound Imaging, Doppler Imaging
2) By Portability: Trolley-Based Devices, Hand-Held Devices
3) By Application: Anesthesiology, Cardiology, Gynecology Or Obstetrics, Musculoskeletal Radiology, Critical Care, Radiology, Other Applications
4) By End-user: Hospitals, Maternity Centers, Diagnostic Centers, Ambulatory Surgical Services, Other End-Users
Subsegments:
1) By Two-Dimensional (2D) Ultrasound Imaging: Static 2D Imaging, Real-Time 2D Imaging, High-Resolution 2D Imaging, Portable Or Handheld 2D Ultrasound
2) By Three-Dimensional (3D) And Four-Dimensional (4D) Ultrasound Imaging: Static 3D Imaging, Real-time 3D Imaging, 4D Live Motion Imaging, 3D Or 4D Transvaginal Imaging, 3D Or 4D Cardiac Imaging
3) By Doppler Imaging: Color Doppler, Power Doppler, Continuous Wave Doppler, Pulsed Wave Doppler, Spectral Doppler
What Are the Major Trends Transforming the Diagnostic Ultrasound Industry?
Leading businesses in the diagnostic ultrasound market are placing emphasis on technological advancement, such as portable and compact ultrasound devices, to improve diagnostic precision, accessibility, and streamlining of workflow across diverse healthcare settings. Compact ultrasound devices are mobile, lightweight, imaging machines that provide high-resolution imaging and are engineered to supply on-the-spot diagnostic knowledge in various healthcare situations, including emergency, outpatient, and remote settings. For example, Koninklijke Philips N.V., a health technology firm based in the Netherlands, unveiled the Philips Compact 5000 Series in November 2022 at the Radiological Society of North America (RSNA) convention, a fresh compact ultrasound system. This cutting-edge system aims to aid precise diagnosis on the first attempt by providing top-tier imaging in a mobile size, thereby widening the availability of exact diagnostic instruments to a broader patient population and clinical settings. The system has an easy-to-use user interface, smooth data integration, and AI-powered automation to amplify clinical decision making and promote improved outcomes for patients across a broad spectrum of medical applications.
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Which Players Are Driving Innovation in the Diagnostic Ultrasound Market?
Major companies operating in the diagnostic ultrasound market are Siemens Healthcare Private Limited, Fujifilm Holdings Corporation, GE Healthcare, Koninklijke Philips N.V., Konica Minolta Inc., Mindray Medical International Limited, Hologi Inc., KronosMD Inc., United Imaging Healthcare Co. Ltd., Samsung Medison Co. Ltd., Analogic Corporation, Esaote SpA, SonoScape Medical Corporation, Canon Medical Systems Corporation, Chison Medical Imaging Co. Ltd., Clarius Mobile Health, MedGyn Products Inc., Terason, Konica Minolta Inc., TELEMED Medical Systems.
Which Regions Are Driving Global Diagnostic Ultrasound Market Expansion?
North America was the largest region in the diagnostic ultrasound market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the diagnostic ultrasound market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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