Ultrasound Devices Market Size, Trends and Insights By Product (Diagnostic Ultrasound Systems, Therapeutic Ultrasound Systems), By Portability (Trolley/Cart-based Ultrasound Devices, Compact/Handheld Ultrasound Devices), By Application (Radiology/General Imaging, Cardiology, Obstetrics/Gynaecology, Urology, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- General Electric Company
- Siemens Healthineers
- Philips Healthcare
- Canon Medical Systems Corporation
- Hitachi Medical Corporation
- Others
Reports Description
Global Ultrasound Devices Market was valued at USD 11.9 Billion in 2024 and is expected to reach USD 17.6 Billion by 2033, at a CAGR of 4.7% during the forecast period 2024 – 2033.
Ultrasound devices are medical imaging instruments that use high-frequency sound waves to provide real-time pictures of the interior of the body. These gadgets are made up of a transducer that generates sound waves and a computer system that interprets the echoes produced by the waves as they bounce off interior structures.
Therapeutic applications of ultrasound equipment include guided biopsy specimens, needle aspirations, and minimally invasive surgical procedures.
Ultrasound Devices Market: Growth Factors
Rising adoption of point-of-care testing
The spike in demand for point-of-care testing (POCT) has a substantial impact on the ultrasound equipment industry. POCT emphasises speedy diagnostic outcomes, which frequently need real-time imaging for correct evaluations.
Ultrasound devices are ideal for point-of-care diagnostics because of their mobility, ease of use, and real-time imaging capabilities. Furthermore, ultrasound’s non-invasive nature is consistent with the concepts of POCT, allowing for rapid and efficient patient assessments without the need for costly laboratory equipment.
As more healthcare institutions use POCT to improve patient care and optimise diagnostic procedures, the need for ultrasound devices grows.
This tendency is particularly noticeable in settings which include emergency departments, intensive care units, and ambulatory care centers, where fast diagnostic insights are critical for prompt decision-making, propelling the expansion of the ultrasound device market alongside the expansion of point-of-care testing initiatives.
Growing practice of ultrasound equipment for diagnostic imaging
The growing use of ultrasound equipment for diagnostic imaging is moving the ultrasound device industry ahead through a variety of channels. Technological improvements have resulted in the creation of more portable and user-friendly ultrasound instruments, making them available in a variety of healthcare settings such as clinics, hospitals, and ambulatory care centres.
Furthermore, the increased frequency of chronic illnesses and an ageing population increase demand for non-invasive diagnostic procedures such as ultrasonography, which contributes to market growth.
Furthermore, ultrasound’s versatility in imaging numerous bodily structures, as well as its real-time imaging abilities, have made it a popular choice among physicians, increasing its use.
Moreover, the rising uses of ultrasound outside standard imaging, which include guided operations and therapeutic interventions, broaden its commercial potential, encouraging constant growth and development in ultrasound technology.
For instance, ultrasound technology employs sound waves to create images of the interior of the body. It aids in determining the reasons for discomfort, swelling, and inflammation in the body’s internal organs, as well as the examination of an unborn child (foetus) in pregnant women.
Doctors frequently utilize ultrasonography to examine newborns’ brains, hips, and spines. It is also used to guide biopsies, detect cardiac problems, and evaluate damage after a heart attack.
Ultrasound Devices Market: Restraints
Limited reimbursement policies
Limited reimbursement standards can harm the ultrasound device business by restricting patient access to such technologies. When reimbursement rates are low or limited to particular purposes, healthcare institutions may be hesitant to deploy or upgrade ultrasound instruments for fear of financial loss.
This hesitation stifles market expansion since suppliers are hesitant to invest in new technologies without certain financial rewards. Furthermore, limiting reimbursement may discourage manufacturers from researching and manufacturing new ultrasound equipment adapted to evolving clinical demands, stifling market growth.
As a result, establishing payment policies to cover a wider range of ultrasound treatments and indications is critical for increasing market demand, fostering technology progress, and boosting patient access to sophisticated diagnostic imaging technologies.
Ultrasound Devices Market: Opportunities
Rising technological advancement
Technological improvements are driving the ultrasound device industry via enhanced imaging capabilities, mobility, and accessibility. 3D/4D imaging, contrast-enhanced ultrasonography, and elastography are among the innovations that improve doctors’ diagnostic accuracy and visualisation of anatomical structures and disease.
Furthermore, the invention of lesser, more portable ultrasound machines broadens their application in point-of-care settings, distant places, and emergency circumstances, improving access to healthcare services.
The incorporation of artificial intelligence (AI) algorithms improves diagnostic capabilities by automated picture processing and interpretation, minimizing user variability, and increasing efficiency.
These developments in technology not only boost patient outcomes by allowing for earlier and more accurate diagnosis, but they also fuel market expansion by encouraging medical professionals to invest in current ultrasound equipment to remain competitive while offering high-quality treatment.
For instance, GE HealthCare’s most recent research focuses on a novel SonoSAMTrack approach, which was particularly created for ultrasonography to improve diagnostic precision and consistency.
SonoSAMTrack blends SonoSAM, a promotable fundamental model for segmenting items of interest in ultrasound pictures, with a cutting-edge contour monitoring model that propagates segmentations over 2D+t and 3D ultrasound datasets. These discoveries highlight AI’s transformational potential in improving medical imaging.
Ultrasound Devices Market: Segmentation Analysis
Global Ultrasound Devices market is segmented by product, portability, application, and region. Based on product, the market is classified into diagnostic ultrasound systems and therapeutic ultrasound systems.
Inner rotor dominated the market in 2023 with a market share of 84.5% and is expected to keep its dominance during the forecast period 2024-2033.
Diagnostic ultrasound systems are an important aspect of the ultrasound device industry owing to their versatility, non-invasiveness, and a broad variety of applications across medical specialties.
These technologies let healthcare workers see inside structures in real time, which helps with the diagnosis and monitoring of numerous medical disorders. With technological improvements, diagnostic ultrasound devices now provide better picture quality, mobility, and ease of use, enhancing their value in point-of-care and remote healthcare delivery.
Furthermore, the rising frequency of chronic illnesses and the growing need for minimally invasive diagnostic methods drive the use of ultrasound instruments. In addition, continuing research and development activities to improve the capabilities and functions of diagnostic ultrasound systems, resulting in market expansion and creativity in medical imaging.
Based on portability, the market is classified into trolley/cart-based ultrasound devices and compact/handheld ultrasound devices. Trolley/cart-based ultrasound devices dominated the market in 2023 with a market share of 68.4% and are expected to keep their dominance during the forecast period 2024-2033.
Trolley/cart-based ultrasound equipment has a huge influence on the ultrasound device industry because of its versatility and portability. These devices provide high-quality imaging while being portable, enabling healthcare providers to simply perform ultrasound scans at the point of treatment.
Its portability allows for use in a variety of clinical settings, such as hospitals, clinics, and distant places, hence boosting access to diagnostic imaging services. Furthermore, trolley-based ultrasound systems frequently have sophisticated capabilities such as numerous transducer ports, customizable imaging settings, and built-in data management solutions, which improve healthcare practitioners’ productivity and workflow.
Based on application, the market is classified into radiology/general imaging, cardiology, obstetrics/gynaecology, urology and others. Radiology/general imaging dominated the market in 2023 with a market share of 25.8% and is expected to keep its dominance during the forecast period 2024-2033.
Radiology and general imaging are key drivers of the ultrasound device market due to their wide diagnostic applications. Ultrasound technology is frequently used in radiology because of its non-invasive nature, real-time visualisation capabilities, and adaptability to evaluating diverse anatomical structures.
Ultrasound is used in a variety of medical professions, including obstetrics, gynaecology, cardiovascular disease, urology, and orthopaedic imaging. Its capacity to provide precise pictures of soft tissues, organs, and blood flow dynamics renders it vital in clinical practice for diagnosing anomalies, directing treatments, and evaluating therapy success.
Furthermore, technical developments in ultrasound equipment, such as improved picture quality, portability, and accessibility, have increased their value across radiology and general imaging settings, boosting global market growth and acceptance.
Report Scope
| Feature of the Report | Details |
| Market Size in 2024 | USD 11.9 Billion |
| Projected Market Size in 2033 | USD 17.6 Billion |
| Market Size in 2023 | USD 10.5 Billion |
| CAGR Growth Rate | 4.7% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Product, Portability, Application and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Ultrasound Devices Market: Regional Insight
By region, Ultrasound Devices market is segmented into North America, Europe, Asia-Pacific, Latin America, the Middle East & Africa. North America dominated the global Ultrasound Devices market in 2023 with a market share of 35.1% and is expected to keep its dominance during the forecast period 2024-2033.
North America is blessed with modern healthcare infrastructure and a high degree of technology adoption, resulting in ongoing demand for cutting-edge medical equipment such as ultrasound machines.
Furthermore, North America is home to a large number of top manufacturers and research institutes, which contribute to ultrasonic industry innovation and product development.
Furthermore, the region’s robust regulatory structure assures high standards for device safety and efficacy, fostering trust in both healthcare practitioners and patients.
Moreover, North America’s high healthcare spending and insurance coverage make medical imaging services, particularly ultrasound exams, more widely available, fuelling market expansion.
In general, the intersection of technological knowledge, legislative backing, and healthcare accessibility strengthens North America’s position as a significant influencer in propelling the ultrasound device industry forward.
Ultrasound Devices Market: Recent Developments
- In February 2023, Boston Imaging introduced the Hera W10 Elite, the Hera platform’s proprietary model for obstetrics and gynaecology, which provides doctors with advanced AI capabilities and clinical apps to improve the diagnostic experience.
- In October 2022, Fujifilm Corporation received approval from the FDA for its most recent generation endoscopic ultrasonic endoscope and accomplished compatibility of with the flagship ARIETTA Ultrasound system developed by Fujifilm Healthcare.
- In December 2022, Siemens Healthineers launched a new ultrasound production plant in Košice, Slovakia. This new facility is expected to be used to improve production capacity for Acuson ultrasound devices, such as the Acuson Sequoia and Redwood.
List of the prominent players in the Ultrasound Devices Market:
- General Electric Company
- Siemens Healthineers
- Philips Healthcare
- Canon Medical Systems Corporation
- Hitachi Medical Corporation
- Samsung Medison Co. Ltd.
- Fujifilm Holdings Corporation
- Mindray Medical International Limited
- Esaote SpA
- Analogic Corporation
- Teratech Corporation
- Shenzhen Mindray Bio-Medical Electronics Co. Ltd.
- SonoScape Medical Corporation
- United Imaging Healthcare Co. Ltd.
- ContextVision AB
- Clarius Mobile Health
- Chison Medical Imaging Co. Ltd.
- Supersonic Imagine
- Mobisante Inc.
- MedGyn Products Inc.
- Others
These key players are adopting various growth strategies such as mergers & acquisitions, joint ventures, expansion, strategic alliances, new product launches, etc. to enhance their business operations and revenues.
The Ultrasound Devices Market is segmented as follows:
By Product
- Diagnostic Ultrasound Systems
- Therapeutic Ultrasound Systems
By Portability
- Trolley/Cart-based Ultrasound Devices
- Compact/Handheld Ultrasound Devices
By Application
- Radiology/General Imaging
- Cardiology
- Obstetrics/Gynaecology
- Urology
- Others
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market Research Methodology
- Chapter 2. Executive Summary
- 2.1 Global Ultrasound Devices Market, (2024 – 2033) (USD Billion)
- 2.2 Global Ultrasound Devices Market: snapshot
- Chapter 3. Global Ultrasound Devices Market – Industry Analysis
- 3.1 Ultrasound Devices Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Rising adoption of point-of-care testing
- 3.2.2 Growing practice of ultrasound equipment for diagnostic imaging
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market Attractiveness Analysis By Product
- 3.7.2 Market Attractiveness Analysis By Portability
- 3.7.3 Market Attractiveness Analysis By Application
- Chapter 4. Global Ultrasound Devices Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Ultrasound Devices Market: company market share, 2024
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Ultrasound Devices Market – Product Analysis
- 5.1 Global Ultrasound Devices Market Overview: By Product
- 5.1.1 Global Ultrasound Devices Market Share, By Product, 2024 and – 2033
- 5.2 Diagnostic Ultrasound Systems
- 5.2.1 Global Ultrasound Devices Market by Diagnostic Ultrasound Systems, 2024 – 2033 (USD Billion)
- 5.3 Therapeutic Ultrasound Systems
- 5.3.1 Global Ultrasound Devices Market by Therapeutic Ultrasound Systems, 2024 – 2033 (USD Billion)
- 5.1 Global Ultrasound Devices Market Overview: By Product
- Chapter 6. Global Ultrasound Devices Market – Portability Analysis
- 6.1 Global Ultrasound Devices Market Overview: By Portability
- 6.1.1 Global Ultrasound Devices Market Share, By Portability, 2024 and – 2033
- 6.2 Trolley/Cart-based Ultrasound Devices
- 6.2.1 Global Ultrasound Devices Market by Trolley/Cart-based Ultrasound Devices, 2024 – 2033 (USD Billion)
- 6.3 Compact/Handheld Ultrasound Devices
- 6.3.1 Global Ultrasound Devices Market by Compact/Handheld Ultrasound Devices, 2024 – 2033 (USD Billion)
- 6.1 Global Ultrasound Devices Market Overview: By Portability
- Chapter 7. Global Ultrasound Devices Market – Application Analysis
- 7.1 Global Ultrasound Devices Market Overview: By Application
- 7.1.1 Global Ultrasound Devices Market Share, By Application, 2024 and – 2033
- 7.2 Radiology/General Imaging
- 7.2.1 Global Ultrasound Devices Market by Radiology/General Imaging, 2024 – 2033 (USD Billion)
- 7.3 Cardiology
- 7.3.1 Global Ultrasound Devices Market by Cardiology, 2024 – 2033 (USD Billion)
- 7.4 Obstetrics/Gynaecology
- 7.4.1 Global Ultrasound Devices Market by Obstetrics/Gynaecology, 2024 – 2033 (USD Billion)
- 7.5 Urology
- 7.5.1 Global Ultrasound Devices Market by Urology, 2024 – 2033 (USD Billion)
- 7.6 Others
- 7.6.1 Global Ultrasound Devices Market by Others, 2024 – 2033 (USD Billion)
- 7.1 Global Ultrasound Devices Market Overview: By Application
- Chapter 8. Ultrasound Devices Market – Regional Analysis
- 8.1 Global Ultrasound Devices Market Regional Overview
- 8.2 Global Ultrasound Devices Market Share, by Region, 2024 & – 2033 (USD Billion)
- 8.3. North America
- 8.3.1 North America Ultrasound Devices Market, 2024 – 2033 (USD Billion)
- 8.3.1.1 North America Ultrasound Devices Market, by Country, 2024 – 2033 (USD Billion)
- 8.3.1 North America Ultrasound Devices Market, 2024 – 2033 (USD Billion)
- 8.4 North America Ultrasound Devices Market, by Product, 2024 – 2033
- 8.4.1 North America Ultrasound Devices Market, by Product, 2024 – 2033 (USD Billion)
- 8.5 North America Ultrasound Devices Market, by Portability, 2024 – 2033
- 8.5.1 North America Ultrasound Devices Market, by Portability, 2024 – 2033 (USD Billion)
- 8.6 North America Ultrasound Devices Market, by Application, 2024 – 2033
- 8.6.1 North America Ultrasound Devices Market, by Application, 2024 – 2033 (USD Billion)
- 8.7. Europe
- 8.7.1 Europe Ultrasound Devices Market, 2024 – 2033 (USD Billion)
- 8.7.1.1 Europe Ultrasound Devices Market, by Country, 2024 – 2033 (USD Billion)
- 8.7.1 Europe Ultrasound Devices Market, 2024 – 2033 (USD Billion)
- 8.8 Europe Ultrasound Devices Market, by Product, 2024 – 2033
- 8.8.1 Europe Ultrasound Devices Market, by Product, 2024 – 2033 (USD Billion)
- 8.9 Europe Ultrasound Devices Market, by Portability, 2024 – 2033
- 8.9.1 Europe Ultrasound Devices Market, by Portability, 2024 – 2033 (USD Billion)
- 8.10 Europe Ultrasound Devices Market, by Application, 2024 – 2033
- 8.10.1 Europe Ultrasound Devices Market, by Application, 2024 – 2033 (USD Billion)
- 8.11. Asia Pacific
- 8.11.1 Asia Pacific Ultrasound Devices Market, 2024 – 2033 (USD Billion)
- 8.11.1.1 Asia Pacific Ultrasound Devices Market, by Country, 2024 – 2033 (USD Billion)
- 8.11.1 Asia Pacific Ultrasound Devices Market, 2024 – 2033 (USD Billion)
- 8.12 Asia Pacific Ultrasound Devices Market, by Product, 2024 – 2033
- 8.12.1 Asia Pacific Ultrasound Devices Market, by Product, 2024 – 2033 (USD Billion)
- 8.13 Asia Pacific Ultrasound Devices Market, by Portability, 2024 – 2033
- 8.13.1 Asia Pacific Ultrasound Devices Market, by Portability, 2024 – 2033 (USD Billion)
- 8.14 Asia Pacific Ultrasound Devices Market, by Application, 2024 – 2033
- 8.14.1 Asia Pacific Ultrasound Devices Market, by Application, 2024 – 2033 (USD Billion)
- 8.15. Latin America
- 8.15.1 Latin America Ultrasound Devices Market, 2024 – 2033 (USD Billion)
- 8.15.1.1 Latin America Ultrasound Devices Market, by Country, 2024 – 2033 (USD Billion)
- 8.15.1 Latin America Ultrasound Devices Market, 2024 – 2033 (USD Billion)
- 8.16 Latin America Ultrasound Devices Market, by Product, 2024 – 2033
- 8.16.1 Latin America Ultrasound Devices Market, by Product, 2024 – 2033 (USD Billion)
- 8.17 Latin America Ultrasound Devices Market, by Portability, 2024 – 2033
- 8.17.1 Latin America Ultrasound Devices Market, by Portability, 2024 – 2033 (USD Billion)
- 8.18 Latin America Ultrasound Devices Market, by Application, 2024 – 2033
- 8.18.1 Latin America Ultrasound Devices Market, by Application, 2024 – 2033 (USD Billion)
- 8.19. The Middle-East and Africa
- 8.19.1 The Middle-East and Africa Ultrasound Devices Market, 2024 – 2033 (USD Billion)
- 8.19.1.1 The Middle-East and Africa Ultrasound Devices Market, by Country, 2024 – 2033 (USD Billion)
- 8.19.1 The Middle-East and Africa Ultrasound Devices Market, 2024 – 2033 (USD Billion)
- 8.20 The Middle-East and Africa Ultrasound Devices Market, by Product, 2024 – 2033
- 8.20.1 The Middle-East and Africa Ultrasound Devices Market, by Product, 2024 – 2033 (USD Billion)
- 8.21 The Middle-East and Africa Ultrasound Devices Market, by Portability, 2024 – 2033
- 8.21.1 The Middle-East and Africa Ultrasound Devices Market, by Portability, 2024 – 2033 (USD Billion)
- 8.22 The Middle-East and Africa Ultrasound Devices Market, by Application, 2024 – 2033
- 8.22.1 The Middle-East and Africa Ultrasound Devices Market, by Application, 2024 – 2033 (USD Billion)
- Chapter 9. Company Profiles
- 9.1 General Electric Company
- 9.1.1 Overview
- 9.1.2 Financials
- 9.1.3 Product Portfolio
- 9.1.4 Business Strategy
- 9.1.5 Recent Developments
- 9.2 Siemens Healthineers
- 9.2.1 Overview
- 9.2.2 Financials
- 9.2.3 Product Portfolio
- 9.2.4 Business Strategy
- 9.2.5 Recent Developments
- 9.3 Philips Healthcare
- 9.3.1 Overview
- 9.3.2 Financials
- 9.3.3 Product Portfolio
- 9.3.4 Business Strategy
- 9.3.5 Recent Developments
- 9.4 Canon Medical Systems Corporation
- 9.4.1 Overview
- 9.4.2 Financials
- 9.4.3 Product Portfolio
- 9.4.4 Business Strategy
- 9.4.5 Recent Developments
- 9.5 Hitachi Medical Corporation
- 9.5.1 Overview
- 9.5.2 Financials
- 9.5.3 Product Portfolio
- 9.5.4 Business Strategy
- 9.5.5 Recent Developments
- 9.6 Samsung Medison Co. Ltd.
- 9.6.1 Overview
- 9.6.2 Financials
- 9.6.3 Product Portfolio
- 9.6.4 Business Strategy
- 9.6.5 Recent Developments
- 9.7 Fujifilm Holdings Corporation
- 9.7.1 Overview
- 9.7.2 Financials
- 9.7.3 Product Portfolio
- 9.7.4 Business Strategy
- 9.7.5 Recent Developments
- 9.8 Mindray Medical International Limited
- 9.8.1 Overview
- 9.8.2 Financials
- 9.8.3 Product Portfolio
- 9.8.4 Business Strategy
- 9.8.5 Recent Developments
- 9.9 Esaote SpA
- 9.9.1 Overview
- 9.9.2 Financials
- 9.9.3 Product Portfolio
- 9.9.4 Business Strategy
- 9.9.5 Recent Developments
- 9.10 Analogic Corporation
- 9.10.1 Overview
- 9.10.2 Financials
- 9.10.3 Product Portfolio
- 9.10.4 Business Strategy
- 9.10.5 Recent Developments
- 9.11 Teratech Corporation
- 9.11.1 Overview
- 9.11.2 Financials
- 9.11.3 Product Portfolio
- 9.11.4 Business Strategy
- 9.11.5 Recent Developments
- 9.12 Shenzhen Mindray Bio-Medical Electronics Co. Ltd.
- 9.12.1 Overview
- 9.12.2 Financials
- 9.12.3 Product Portfolio
- 9.12.4 Business Strategy
- 9.12.5 Recent Developments
- 9.13 SonoScape Medical Corporation
- 9.13.1 Overview
- 9.13.2 Financials
- 9.13.3 Product Portfolio
- 9.13.4 Business Strategy
- 9.13.5 Recent Developments
- 9.14 United Imaging Healthcare Co. Ltd.
- 9.14.1 Overview
- 9.14.2 Financials
- 9.14.3 Product Portfolio
- 9.14.4 Business Strategy
- 9.14.5 Recent Developments
- 9.15 ContextVision AB
- 9.15.1 Overview
- 9.15.2 Financials
- 9.15.3 Product Portfolio
- 9.15.4 Business Strategy
- 9.15.5 Recent Developments
- 9.16 Clarius Mobile Health
- 9.16.1 Overview
- 9.16.2 Financials
- 9.16.3 Product Portfolio
- 9.16.4 Business Strategy
- 9.16.5 Recent Developments
- 9.17 Chison Medical Imaging Co. Ltd.
- 9.17.1 Overview
- 9.17.2 Financials
- 9.17.3 Product Portfolio
- 9.17.4 Business Strategy
- 9.17.5 Recent Developments
- 9.18 Supersonic Imagine
- 9.18.1 Overview
- 9.18.2 Financials
- 9.18.3 Product Portfolio
- 9.18.4 Business Strategy
- 9.18.5 Recent Developments
- 9.19 Mobisante Inc.
- 9.19.1 Overview
- 9.19.2 Financials
- 9.19.3 Product Portfolio
- 9.19.4 Business Strategy
- 9.19.5 Recent Developments
- 9.20 MedGyn Products Inc.
- 9.20.1 Overview
- 9.20.2 Financials
- 9.20.3 Product Portfolio
- 9.20.4 Business Strategy
- 9.20.5 Recent Developments
- 9.21 Others.
- 9.21.1 Overview
- 9.21.2 Financials
- 9.21.3 Product Portfolio
- 9.21.4 Business Strategy
- 9.21.5 Recent Developments
- 9.1 General Electric Company
List Of Figures
Figures No 1 to 25
List Of Tables
Tables No 1 to 77
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2032
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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Prominent Player
- General Electric Company
- Siemens Healthineers
- Philips Healthcare
- Canon Medical Systems Corporation
- Hitachi Medical Corporation
- Samsung Medison Co. Ltd.
- Fujifilm Holdings Corporation
- Mindray Medical International Limited
- Esaote SpA
- Analogic Corporation
- Teratech Corporation
- Shenzhen Mindray Bio-Medical Electronics Co. Ltd.
- SonoScape Medical Corporation
- United Imaging Healthcare Co. Ltd.
- ContextVision AB
- Clarius Mobile Health
- Chison Medical Imaging Co. Ltd.
- Supersonic Imagine
- Mobisante Inc.
- MedGyn Products Inc.
- Others
FAQs
The restraints of the Ultrasound Devices market is limited reimbursement policies.
The major driver for the Ultrasound Devices market is rising adoption of point-of-care testing and growing practice of ultrasound equipment for diagnostic imaging.
The “Diagnostic Ultrasound Systems” category dominated the market in 2023.
The key players in the market are General Electric Company , Siemens Healthineers, Philips Healthcare, Canon Medical Systems Corporation , Hitachi Medical Corporation, Samsung Medison Co. Ltd., Fujifilm Holdings Corporation, Mindray Medical International Limited, Esaote SpA, Analogic Corporation, Teratech Corporation, Shenzhen Mindray Bio-Medical Electronics Co. Ltd., SonoScape Medical Corporation, United Imaging Healthcare Co. Ltd., ContextVision AB, Clarius Mobile Health, Chison Medical Imaging Co. Ltd., Supersonic Imagine , Mobisante Inc., MedGyn Products Inc., Others.
“North America” had the largest share in the Ultrasound Devices Market.
The global market is projected to grow at a CAGR of 4.7% during the forecast period, 2024-2033.
The Ultrasound Devices Market size was valued at USD 11.9 Billion in 2024.