Ultrasound Market SWOT analysis, Growth, Share, Size, Growth, Trend

New York, The global ultrasound market was valued at USD 6.5 Billion in 2021 and it is anticipated to grow up to USD 12.2 Billion by 2031, at a CAGR of 6.5% during the forecast period.

Ultrasound is one of the various medical imaging modalities present in the market. An ultrasound system uses high frequency sound waves to visualize the internal organs of the body. It can be described as the device that captures the internal organ images using high frequency sound waves. Ultrasound system consists of a transducer and ultrasound detector, or probe. This diagnostic technique is minimally invasive and does not use the ionizing radiation to diagnose or treat the body ailments.

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Market Trends and Drivers

The high and increasing incidence of target diseases and conditions will boost the adoption of effective diagnostic and therapeutic procedures. The burden of chronic and lifestyle diseases has increased in recent years. For instance, according to the GLOBOCAN, 2020 study, burden of cancer was expected to increase from 14.1 million new cases in 2012 to 19.3 million new cases in 2020. Similarly, according to the American Heart Association, by 2030, about 41.4% of US adults will have hypertension (an increase of 8.4% from 2012). As ultrasound technologies are cost-effective, safer, and offer earlier diagnosis & treatment of target diseases, their demand in disease management is expected to increase during the forecast period.

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Global Ultrasound Market Segmentation

By Technology

  • Diagnostic Ultrasound
    • 2D Ultrasound
    • 3D & 4D Ultrasound
    • Doppler Ultrasound
  • Therapeutic Ultrasound
    • High-Intensity Focused Ultrasound (HIFU)
    • Extracorporeal Shockwave Lithotripsy (ESWL)

By Portability

  • Trolley/Cart-based Ultrasound Systems
  • Compact/Handheld Ultrasound Systems
  • Point-of-care (PoC) Ultrasound Systems

By Application

  • Radiology/General Imaging
  • Cardiology
  • Urology
  • Orthopedic and Musculoskeletal
  • Pain Management
  • Others

By End-use

  • Hospitals
  • Diagnostic Imaging Centers
  • Ambulatory Care Centers
  • Research and Academia
  • Others

Major Players in the Global Ultrasound Market

The key players in the market are GE Healthcare (US), Koninklijke Philips N.V. (Netherlands), Canon Medical Systems Corporation (Japan), Hitachi, Ltd. (Japan), Siemens Healthineers AG (Germany), Hologic, Inc. (US), FUJIFILM Holdings Corporation (Japan), Samsung Electronics Co., Ltd. (Korea), Mindray Medical International Limited (China), and Carestream Health (US), among others

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