The Global Ultrasound Market is projected to reach USD 9.0 billion by 2026 from USD 6.7 billion in 2021, at a CAGR of 6.3% during the forecast period. Ongoing technological advancements in the field of diagnostic therapeutic ultrasound imaging, availability of medical reimbursements for diagnostic ultrasound procedures in mature markets, and the growing applications of emerging ultrasound techniques (such as Doppler ultrasound in vascular imaging and 3D/4D ultrasound in oncology) are driving the growth of ultrasound market.
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Key Market Players:
GE Healthcare (US), Koninklijke Philips N.V. (Netherlands), Canon Medical Systems (Japan), Siemens AG (Germany), Hitachi (Japan), Samsung Electronics (South Korea), and FUJIFILM Holdings Corporation (Japan). The other prominent players operating in this market include Esaote S.p.A. (Italy), Mindray Medical International Ltd. (China), Analogic Corporation (US), Carestream (US), Hologic (US), Mobisnate (US), and Chison Medical Imaging (China)
Global Ultrasound Market, by Technology
- Diagnostic Ultrasound
- Therapeutic Ultrasound
Global Ultrasound Market, by Device Display
- Color Ultrasound
- B/W Ultrasound
Global Ultrasound Market, by Portability
- Trolley/Cart-based Ultrasound Systems
- Compact/Handheld Ultrasound Systems
- Point-of-care (PoC) Ultrasound Systems
Global Ultrasound Market, by Application
- Radiology/General Imaging Applications
- Obstetrics/Gynecology Applications
- Cardiology Applications
- Urology Applications
- Vascular Applications
- Orthopedic and Musculoskeletal Applications
- Pain Management Applications
- Other Applications (hepatology, neurology, bariatric surgery, breast imaging, and emergency care, among others)
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Europe is expected to command the largest share of the 3D/4D ultrasound industry in 2020
The report covers the ultrasound market across five major geographies, namely, Europe, North America, Asia Pacific, Latin America and MEA. Europe is expected to command the largest share of the ultrasound market in 2020. Factors such as a large number of ongoing clinical research projects in the field of ultrasound, expansions in the clinical applications of focused ultrasound and the early commercialization of these devices in the region, and the significant healthcare expenditure across mature European countries (such as Germany, France, the UK, Italy, and Spain) are driving the growth of the ultrasound market in Europe.
Recent Developments
- In Sep 2021, GE Healthcare acquired BK Medical which extended GE Healthcare’s ultrasound portfolio into surgical visualization and boosted its growth in precision health.
- In Mar 2021, Koninklijke Philips N.V. partnered with DiA Imaging Analysis Ltd.; Philips will utilize/integrate DiA’s automated solutions with ultrasound systems to deliver operational efficiency and access to care for POC customers in and out of hospitals.
- In Dec 2020, Koninklijke Philips N.V. partnered with InSightec to expand access to MR-guided focused ultrasound for incision-less neurosurgery applications.
- In Oct 2020, GE Healthcare partnered with St. Luke’s University; GE has installed 76 ultrasound units to standardize the care in radiology, vascular, and echocardiography applications.
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