Market Overview:
Ultrasound medical devices are used to diagnose and treat various medical conditions. These devices use high-frequency sound waves to create images of the inside of the body. The global ultrasound medical devices market is expected to grow at a CAGR of 7.5% from 2018 to 2030. The growth in this market is mainly driven by the increasing prevalence of chronic diseases, rising demand for minimally invasive procedures, and technological advancements in ultrasound medical devices. The global ultrasound medical devices market can be segmented into two types: diagnostic ultrasound and therapeutic ultrasound. Diagnostic ultrasound is used for diagnosing various diseases such as heart disease, liver disease, and cancer. Therapeutic ultrasound is used for treating various conditions such as pain relief, muscle relaxation, and blood clot removal. The global ultrasound medical Devices market can also be segmented by application: hospital-based applications and clinic-based applications . Hospital-based applications include general imaging , obstetrics & gynecology (OB/GYN), cardiology , urology , oncology , and neurology .
Product Definition:
Ultrasound medical devices are used for diagnostic and therapeutic purposes. They emit high-frequency sound waves that can be focused on a specific area of the body. The sound waves cause tissues to vibrate, which can be detected and interpreted by a machine. Ultrasound medical devices are used to image internal organs, guide procedures such as needle biopsies, and treat conditions such as uterine fibroids.
Diagnostic Ultrasound:
Ultrasound medical devices are used for diagnostic as well as therapeutic purposes. Ultrasound is a form of electromagnetic energy with the ability to produce images by using sound waves. It is mainly used for imaging soft tissues such as muscles, tendons, nerves, ligaments and blood vessels in the human body.
Therapeutic Ultrasound:
Therapeutic ultrasound is a non-invasive technique that uses high frequency sound waves to treat disease and repair tissues. It is mainly used for the treatment of cancer, heart diseases, kidney & liver disorders and can also be used for treating scars, skin tags & tumors. The therapeutic ultrasound devices are classified into two types: transducers and probes.
Application Insights:
The hospital application segment accounted for the largest revenue share in 2017. The demand is expected to be driven by an increase in the number of surgeries and rising prevalence of chronic diseases. According to a study published in 2018 by WHO, it was estimated that around 1 billion people have no or limited access to healthcare facilities, which is anticipated to boost demand for ultrasound devices used at hospitals.
Clinical applications include diagnostic imaging as well as therapeutic applications. Diagnostic ultrasound has several advantages such as portability, ease of use and availability in affordable prices; however, its usage remains limited due its low penetration compared with other imaging modalities such as MRI or CT scan among others. Therapeutic ultrasound uses sound waves along with targeting drugs and radiation beams towards cancer cells leading to their death; this technology holds great potential owingto its abilityto penetrate deep into tissues resultingin better treatment outcomes without causing any damagetolayer organs (skin).
Regional Analysis:
North America dominated the global market in 2017. This can be attributed to the presence of key players, high disposable income, and favorable reimbursement policies & regulatory reforms in this region. For instance, as per the American Hospital Association (AHA), there are around 6,000 hospitals that have adopted some form of Electronic Health Record (EHR) system and around 2 million physicians practice medicine in U.S., which is expected to drive demand for advanced medical devices such as ultrasound systems during the forecast period.
Asia Pacific is anticipated to witness lucrative growth over the forecast period owing to increasing healthcare expenditure by governments along with rising awareness about early diagnosis among people living in this region will boost demand for these devices during forecast years.
Growth Factors:
- Increasing prevalence of target diseases: The global ultrasound medical devices market is expected to grow at a CAGR of 6.5% during the forecast period due to the increasing prevalence of target diseases such as cancer, cardiovascular disorders, and others.
- Technological advancements: The technological advancements in ultrasound medical devices are expected to drive the growth of this market during the forecast period. For instance, in 2017, Siemens Healthineers launched its new product “SonoSite M-Turbo” which is a portable ultrasound system that offers high image quality and performance for both point-of-care and hospital settings. This product is designed for use by physicians who need to quickly assess patients’ conditions outside of traditional radiology departments or emergency rooms.
- Growing demand for minimally invasive procedures: Ultrasound medical devices are increasingly being used for minimally invasive procedures owing to their accuracy and safety profile as compared with other imaging modalities such as computed tomography (CT) scans or magnetic resonance imaging (MRI). For instance, according to a study by MarketsandMarkets Research Private Ltd., the global market for minimally invasive surgical procedures was valued at USD 131 billion in 2016 and is projected to reach USD 203 billion by 2021 at a CAGR of 7%. This growing demand for minimally invasive procedures will create opportunities for growth in the global ultrasound medical devices market during the forecast period.
Scope Of The Report
Report Attributes
Report Details
Report Title
Ultrasound Medical Devices Market Research Report
By Type
Diagnostic Ultrasound, Therapeutic Ultrasound
By Application
Hospital, Clinic
By Companies
Analogic, Esaote, Fujifilm, General Electric, Hitachi, Philips, Mindray Medical, Samsung, Siemens, Toshiba
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
243
Number of Tables & Figures
171
Customization Available
Yes, the report can be customized as per your need.
Global Ultrasound Medical Devices Market Report Segments:
The global Ultrasound Medical Devices market is segmented on the basis of:
Types
Diagnostic Ultrasound, Therapeutic Ultrasound
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospital, Clinic
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Analogic
- Esaote
- Fujifilm
- General Electric
- Hitachi
- Philips
- Mindray Medical
- Samsung
- Siemens
- Toshiba
Highlights of The Ultrasound Medical Devices Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Diagnostic Ultrasound
- Therapeutic Ultrasound
- By Application:
- Hospital
- Clinic
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Ultrasound Medical Devices Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Ultrasound medical devices are machines that use high-frequency sound waves to produce images of body parts. Ultrasound is used to diagnose and treat a variety of medical conditions, including pregnancy, heart disease, cancer, and more.
Some of the major players in the ultrasound medical devices market are Analogic, Esaote, Fujifilm, General Electric, Hitachi, Philips, Mindray Medical, Samsung, Siemens, Toshiba.
The ultrasound medical devices market is expected to register a CAGR of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Ultrasound Medical Devices Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Ultrasound Medical Devices Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Ultrasound Medical Devices Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Ultrasound Medical Devices Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Ultrasound Medical Devices Market Size & Forecast, 2018-2028
4.5.1 Ultrasound Medical Devices Market Size and Y-o-Y Growth
4.5.2 Ultrasound Medical Devices Market Absolute $ Opportunity
Chapter 5 Global Ultrasound Medical Devices Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Ultrasound Medical Devices Market Size Forecast by Type
5.2.1 Diagnostic Ultrasound
5.2.2 Therapeutic Ultrasound
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Ultrasound Medical Devices Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Ultrasound Medical Devices Market Size Forecast by Applications
6.2.1 Hospital
6.2.2 Clinic
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Ultrasound Medical Devices Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Ultrasound Medical Devices Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Ultrasound Medical Devices Analysis and Forecast
9.1 Introduction
9.2 North America Ultrasound Medical Devices Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Ultrasound Medical Devices Market Size Forecast by Type
9.6.1 Diagnostic Ultrasound
9.6.2 Therapeutic Ultrasound
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Ultrasound Medical Devices Market Size Forecast by Applications
9.10.1 Hospital
9.10.2 Clinic
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Ultrasound Medical Devices Analysis and Forecast
10.1 Introduction
10.2 Europe Ultrasound Medical Devices Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Ultrasound Medical Devices Market Size Forecast by Type
10.6.1 Diagnostic Ultrasound
10.6.2 Therapeutic Ultrasound
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Ultrasound Medical Devices Market Size Forecast by Applications
10.10.1 Hospital
10.10.2 Clinic
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Ultrasound Medical Devices Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Ultrasound Medical Devices Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Ultrasound Medical Devices Market Size Forecast by Type
11.6.1 Diagnostic Ultrasound
11.6.2 Therapeutic Ultrasound
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Ultrasound Medical Devices Market Size Forecast by Applications
11.10.1 Hospital
11.10.2 Clinic
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Ultrasound Medical Devices Analysis and Forecast
12.1 Introduction
12.2 Latin America Ultrasound Medical Devices Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Ultrasound Medical Devices Market Size Forecast by Type
12.6.1 Diagnostic Ultrasound
12.6.2 Therapeutic Ultrasound
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Ultrasound Medical Devices Market Size Forecast by Applications
12.10.1 Hospital
12.10.2 Clinic
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Ultrasound Medical Devices Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Ultrasound Medical Devices Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Ultrasound Medical Devices Market Size Forecast by Type
13.6.1 Diagnostic Ultrasound
13.6.2 Therapeutic Ultrasound
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Ultrasound Medical Devices Market Size Forecast by Applications
13.10.1 Hospital
13.10.2 Clinic
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Ultrasound Medical Devices Market: Competitive Dashboard
14.2 Global Ultrasound Medical Devices Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Analogic
14.3.2 Esaote
14.3.3 Fujifilm
14.3.4 General Electric
14.3.5 Hitachi
14.3.6 Philips
14.3.7 Mindray Medical
14.3.8 Samsung
14.3.9 Siemens
14.3.10 Toshiba
