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Ultrasound Equipment Market Size to Reach US$ 14.3 Billion By 2030

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According to Precedence Research, The ultrasound equipment market size garnered US$ 7.1 billion in 2020 and is expected to generate US$ 14.3 billion by 2030, manifesting a CAGR of 7.3% from 2021 to 2030.  The report contains 150+ pages with detailed analysis.

Ultrasound Equipment Market Size 2020 to 2030

The base year for the study has been considered 2021, the historic year 2019 and 2020, the forecast period considered is from 2021 to 2030. The ultrasound equipment market is analyzed on the basis of value (US$ Million), volume (Unit), and price (US$/Unit).

The ultrasound equipments are widely across the healthcare sector for diagnosis of internal organs. It uses high sound frequency waves to form images of the internal organs. The adoption of the ultrasound equipment rapidly increased in the past few years for the diagnosis of various chronic diseases such as cancer and tumor. The rising burden of chronic diseases and growing geriatric population across the globe is the primary driver of the global ultrasound equipment market. Further the introduction of innovative features and new product launches by the key market players is fueling the market growth. The rising penetration of hospitals, clinics, and diagnostic centers especially in the developing regions is fueling the demands for the ultrasound equipment. Further, the rising government expenditure for the development of healthcare infrastructure is expected to boost the growth of the market during the forecast period.

The rising demand for the diagnosis due to the rising geriatric population and rising burden of chronic diseases is the primary driver of the ultrasound equipment market. According to the International Agency for Research on Cancer, in 2020, around 19.3 million new cancer cases and 10 million cancer deaths were reported across the globe. The global cancer cases are estimated to grow by 47% from 2020 to 2040. It is expected that 28.4 million cases will be recorded in 2040, globally.According to the CDC, in 2019, there were 45 million outpatient surgeries, over 900 million physician visits, and 155 million emergency department visits in US. Further, according to the American Heart Association, more than 40% of the US adults are expected to be affected with hypertension by 2030. According to the International Diabetes Federation, by 2025, the number of diabetic population is expected to reach around 228 million in the developing nations. Therefore, the rising burden of chronic diseases among the population is expected to boost the demand for the ultrasound equipment across the globe.

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Key Companies & Market Share Insights

The market is moderately fragmented with the presence of several local companies. These market players are striving to gain higher market share by adopting strategies, such as investments, partnerships, and acquisitions & mergers, novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. Companies are also spending on the development of improved products. Moreover, they are also focusing on maintaining competitive pricing. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.

Some of the major players in the global ultrasound equipment market include:

  • Canon Medical Systems Corporation
  • GE Healthcare
  • Koninklijke Philips N.V
  • Terason
  • Mindray Medical International Limited
  • Hitachi Ltd.
  • Siemens Healthineers
  • EsaoteSpA
  • Samsung Medison Co., Ltd.
  • Fujifilm Holdings Corporation
  • Neusoft Corporation
  • CHISON Medical Technologies Co., Ltd.
  • Shantou Institute of Ultrasonic Instruments Co., Ltd.
  • Konica Minolta, Inc.
  • Hologic, Inc.
  • Analogic Corporation
Ultrasound Equipment Market Scope

This market report studies market dynamics, status and outlook especially in North America, Europe and Asia-Pacific, Latin America, the Middle East and Africa. This research report offers scenario and forecast (revenue/volume), and categorizes the market by key players and various segment. This report also studies global market prominence, competitive landscape, market share, growth rates market dynamics such as drivers, restraints and opportunities, and distributors and sales channels.

This research study also integrates Industry Chain analysis and Porter’s Five Forces Analysis. Further, this report offers a competitive scenario that comprises collaborations, market concentration rate and expansions, mergers & acquisitions undertaken by companies.

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Based on Region, the North America was the leading market in 2020. North America is characterized by increased disposable income, increased awareness regarding various diagnosis equipment, developed healthcare infrastructure, growing aging population, and higher adoption rate of advanced technologies. All these factors significantly contributed towards the development of the North America ultrasound equipment market. Further, the increasing demand for the diagnosis among the population of US and Canada owing to the age related health conditions is expected to boost the market growth.

Asia Pacific is estimated to be the fastest growing market during the forecast period. This is attributable to the presence of several key manufacturers in the region. Moreover, countries like China, Taiwan, and South Korea are well-known for the manufacturing of various electronic components that helps the manufacturers to develop advanced ultrasound equipment at less cost. Further, the growing government investments to develop healthcare facilities in the region is fueling the market growth.

The high costs of the ultrasound equipment is a major restraining factor that may hamper the market growth during the forecast period. Moreover, the lack of proper healthcare infrastructure in the underdeveloped economies restricts the market to grow further.

The introduction of latest technologies like artificial intelligence (AI) and development of ultrasound equipment for specific purposes are expected to provide growth prospects in the upcoming future. Moreover, rising investments by the key players in the research and development activities is anticipated to drive the market growth in the forthcoming years.

Based on the product, the table-top segment dominated the global ultrasound equipment market in 2020, owing to its increased adoption in hospitals across the globe. Table-top equipment provides accurate, safe, and cost-effective diagnosis results and hence it is most demanded ultrasound equipment across the hospitals.

Based on the end user, the clinic segment is estimated to be the most opportunistic segment during the forecast period. This is due to the rising penetration of private clinics in the developed and developing markets. Moreover, rising demand for the diagnosis owing to the rising prevalence of chronic diseases is boosting the growth of this segment.

Based on the application, the radiology segment dominated the market in 2020. The factors accountable for the growth of this segment includes growing geriatric population, rising prevalence of chronic diseases, rising number of cancer cases and cancer survivors, and increased consumer expenditure on the health and wellness.

Ultrasound Equipment Market Segments Covered

By Product

  • Table-top
  • Compact

By End User

  • Hospitals
  • Clinics

By Application

  • Gynecology
  • Cardiology
  • Radiology
  • Urology
  • Point of Care
  • Surgery
  • Others

By Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Rest of the World

Research Objective

  • To provide a comprehensive analysis of the ultrasound equipment industry and its sub-segments in the global market, thereby providing a detailed structure of the industry
  • To provide detailed insights into factors driving and restraining the growth of this global market
  • To provide a distribution chain analysis/value chain for the this market
  • To estimate the market size of the global ultrasound equipment market where 2019 would be the historical period, 2020 shall be the base year, and 2020 to 2027 will be the forecast period for the study
  • To provide strategic profiling of key companies (manufacturers and distributors) present across the globe, and comprehensively analyze their competitiveness/competitive landscape in this market
  • To analyze the global market in four main geographies, namely, North America, Europe, Asia-Pacific, and the Rest of the World
  • To provide country-wise market value analysis for various segments of the ultrasound equipment
TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Ultrasound Equipment Market 

5.1. COVID-19 Landscape: Ultrasound Equipment Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Ultrasound Equipment Market, By Product

8.1. Ultrasound Equipment Market, by Product Type, 2021-2030

8.1.1. Table-top

8.1.1.1. Market Revenue and Forecast (2019-2030)

8.1.2. Compact

8.1.2.1. Market Revenue and Forecast (2019-2030)

Chapter 9. Global Ultrasound Equipment Market, By Application

9.1. Ultrasound Equipment Market, by Application, 2021-2030

9.1.1. Gynecology

9.1.1.1. Market Revenue and Forecast (2019-2030)

9.1.2. Cardiology

9.1.2.1. Market Revenue and Forecast (2019-2030)

9.1.3. Radiology

9.1.3.1. Market Revenue and Forecast (2019-2030)

9.1.4. Urology

9.1.4.1. Market Revenue and Forecast (2019-2030)

9.1.5. Point of Care

9.1.5.1. Market Revenue and Forecast (2019-2030)

9.1.6. Surgery

9.1.6.1. Market Revenue and Forecast (2019-2030)

9.1.7. Others

9.1.7.1. Market Revenue and Forecast (2019-2030)

Chapter 10. Global Ultrasound Equipment Market, By End User 

10.1. Ultrasound Equipment Market, by End User, 2021-2030

10.1.1. Hospitals

10.1.1.1. Market Revenue and Forecast (2019-2030)

10.1.2. Clinics

10.1.2.1. Market Revenue and Forecast (2019-2030)

Chapter 11. Global Ultrasound Equipment Market, Regional Estimates and Trend Forecast

11.1. North America

11.1.1. Market Revenue and Forecast, by Product (2019-2030)

11.1.2. Market Revenue and Forecast, by Application (2019-2030)

11.1.3. Market Revenue and Forecast, by End User (2019-2030)

11.1.4. U.S.

11.1.4.1. Market Revenue and Forecast, by Product (2019-2030)

11.1.4.2. Market Revenue and Forecast, by Application (2019-2030)

11.1.4.3. Market Revenue and Forecast, by End User (2019-2030)

11.1.5. Rest of North America

11.1.5.1. Market Revenue and Forecast, by Product (2019-2030)

11.1.5.2. Market Revenue and Forecast, by Application (2019-2030)

11.1.5.3. Market Revenue and Forecast, by End User (2019-2030)

11.2. Europe

11.2.1. Market Revenue and Forecast, by Product (2019-2030)

11.2.2. Market Revenue and Forecast, by Application (2019-2030)

11.2.3. Market Revenue and Forecast, by End User (2019-2030)

11.2.4. UK

11.2.4.1. Market Revenue and Forecast, by Product (2019-2030)

11.2.4.2. Market Revenue and Forecast, by Application (2019-2030)

11.2.4.3. Market Revenue and Forecast, by End User (2019-2030)

11.2.5. Germany

11.2.5.1. Market Revenue and Forecast, by Product (2019-2030)

11.2.5.2. Market Revenue and Forecast, by Application (2019-2030)

11.2.5.3. Market Revenue and Forecast, by End User (2019-2030)

11.2.6. France

11.2.6.1. Market Revenue and Forecast, by Product (2019-2030)

11.2.6.2. Market Revenue and Forecast, by Application (2019-2030)

11.2.6.3. Market Revenue and Forecast, by End User (2019-2030)

11.2.7. Rest of Europe

11.2.7.1. Market Revenue and Forecast, by Product (2019-2030)

11.2.7.2. Market Revenue and Forecast, by Application (2019-2030)

11.2.7.3. Market Revenue and Forecast, by End User (2019-2030)

11.3. APAC

11.3.1. Market Revenue and Forecast, by Product (2019-2030)

11.3.2. Market Revenue and Forecast, by Application (2019-2030)

11.3.3. Market Revenue and Forecast, by End User (2019-2030)

11.3.4. India

11.3.4.1. Market Revenue and Forecast, by Product (2019-2030)

11.3.4.2. Market Revenue and Forecast, by Application (2019-2030)

11.3.4.3. Market Revenue and Forecast, by End User (2019-2030)

11.3.5. China

11.3.5.1. Market Revenue and Forecast, by Product (2019-2030)

11.3.5.2. Market Revenue and Forecast, by Application (2019-2030)

11.3.5.3. Market Revenue and Forecast, by End User (2019-2030)

11.3.6. Japan

11.3.6.1. Market Revenue and Forecast, by Product (2019-2030)

11.3.6.2. Market Revenue and Forecast, by Application (2019-2030)

11.3.6.3. Market Revenue and Forecast, by End User (2019-2030)

11.3.7. Rest of APAC

11.3.7.1. Market Revenue and Forecast, by Product (2019-2030)

11.3.7.2. Market Revenue and Forecast, by Application (2019-2030)

11.3.7.3. Market Revenue and Forecast, by End User (2019-2030)

11.4. MEA

11.4.1. Market Revenue and Forecast, by Product (2019-2030)

11.4.2. Market Revenue and Forecast, by Application (2019-2030)

11.4.3. Market Revenue and Forecast, by End User (2019-2030)

11.4.4. GCC

11.4.4.1. Market Revenue and Forecast, by Product (2019-2030)

11.4.4.2. Market Revenue and Forecast, by Application (2019-2030)

11.4.4.3. Market Revenue and Forecast, by End User (2019-2030)

11.4.5. North Africa

11.4.5.1. Market Revenue and Forecast, by Product (2019-2030)

11.4.5.2. Market Revenue and Forecast, by Application (2019-2030)

11.4.5.3. Market Revenue and Forecast, by End User (2019-2030)

11.4.6. South Africa

11.4.6.1. Market Revenue and Forecast, by Product (2019-2030)

11.4.6.2. Market Revenue and Forecast, by Application (2019-2030)

11.4.6.3. Market Revenue and Forecast, by End User (2019-2030)

11.4.7. Rest of MEA

11.4.7.1. Market Revenue and Forecast, by Product (2019-2030)

11.4.7.2. Market Revenue and Forecast, by Application (2019-2030)

11.4.7.3. Market Revenue and Forecast, by End User (2019-2030)

11.5. Latin America

11.5.1. Market Revenue and Forecast, by Product (2019-2030)

11.5.2. Market Revenue and Forecast, by Application (2019-2030)

11.5.3. Market Revenue and Forecast, by End User (2019-2030)

11.5.4. Brazil

11.5.4.1. Market Revenue and Forecast, by Product (2019-2030)

11.5.4.2. Market Revenue and Forecast, by Application (2019-2030)

11.5.4.3. Market Revenue and Forecast, by End User (2019-2030)

11.5.5. Rest of LATAM

11.5.5.1. Market Revenue and Forecast, by Product (2019-2030)

11.5.5.2. Market Revenue and Forecast, by Application (2019-2030)

11.5.5.3. Market Revenue and Forecast, by End User (2019-2030)

Chapter 12. Company Profiles

12.1. Canon Medical Systems Corporation

12.1.1. Company Overview

12.1.2. Product Offerings

12.1.3. Financial Performance

12.1.4. Recent Initiatives

12.2. GE Healthcare

12.2.1. Company Overview

12.2.2. Product Offerings

12.2.3. Financial Performance

12.2.4. Recent Initiatives

12.3. Koninklijke Philips N.V

12.3.1. Company Overview

12.3.2. Product Offerings

12.3.3. Financial Performance

12.3.4. Recent Initiatives

12.4. Terason

12.4.1. Company Overview

12.4.2. Product Offerings

12.4.3. Financial Performance

12.4.4. Recent Initiatives

12.5. Mindray Medical International Limited

12.5.1. Company Overview

12.5.2. Product Offerings

12.5.3. Financial Performance

12.5.4. Recent Initiatives

12.6. Hitachi Ltd.

12.6.1. Company Overview

12.6.2. Product Offerings

12.6.3. Financial Performance

12.6.4. Recent Initiatives

12.7. Siemens Healthineers

12.7.1. Company Overview

12.7.2. Product Offerings

12.7.3. Financial Performance

12.7.4. Recent Initiatives

12.8. EsaoteSpA

12.8.1. Company Overview

12.8.2. Product Offerings

12.8.3. Financial Performance

12.8.4. Recent Initiatives

12.9. Samsung Medison Co., Ltd.

12.9.1. Company Overview

12.9.2. Product Offerings

12.9.3. Financial Performance

12.9.4. Recent Initiatives

12.10. Fujifilm Holdings Corporation

12.10.1. Company Overview

12.10.2. Product Offerings

12.10.3. Financial Performance

12.10.4. Recent Initiatives

12.11. Neusoft Corporation

12.11.1. Company Overview

12.11.2. Product Offerings

12.11.3. Financial Performance

12.11.4. Recent Initiatives

12.12. CHISON Medical Technologies Co., Ltd.

12.12.1. Company Overview

12.12.2. Product Offerings

12.12.3. Financial Performance

12.12.4. Recent Initiatives

12.13. Konica Minolta, Inc.

12.13.1. Company Overview

12.13.2. Product Offerings

12.13.3. Financial Performance

12.13.4. Recent Initiatives

Chapter 13. Research Methodology

13.1. Primary Research

13.2. Secondary Research

13.3. Assumptions

Chapter 14. Appendix

14.1. About Us

14.2. Glossary of Terms

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

Why Buy this Report?

The purpose of Precedence Research’s ultrasound equipment market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.

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