Ultrasound Device Market - Forecast(2022 - 2027)

Report Code: HCR 19905 Report Format: PDF + Excel

Ultrasound Device Market Overview

Ultrasound Device Market size is estimated to reach $9.1 billion by 2026, growing at a CAGR of 3.6% during the forecast period 2021-2026. Ultrasound is an imaging modality that provides cross-sectional images of the body by utilizing high-frequency sound waves. Ultrasonic devices have become an ideal front-line tool for diagnostic imaging as they are less expensive and safer than other diagnostic imaging modalities. Handheld ultrasonic devices are increasingly being adopted across the world owing to the growing demand for home healthcare and remote patient monitoring. The rise in the demand for Doppler imaging tests, increasing adoption of ultrasound devices for the treatment of extracorporeal shockwave lithotripsy, rise in the demand for handheld devices for nondestructive testing, and growing investment by the key players to develop advanced handheld ultrasound devices are the factors that are set to drive the growth of the Ultrasound Device Market for the period 2021-2026.

Report Coverage

The report: Ultrasound Device Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Ultrasound Device Market.
By Product Type: Diagnostic Ultrasound Devices and Therapeutic Ultrasound Devices.
By Portability: Handheld Ultrasound Devices and Cart based Ultrasound Devices.
By Application: Cardiology, Anesthesiology, Gynecology, Radiology, Critical Care, and Others.
By Geography: North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, and Rest of South America) and Rest of World (Middle East and Africa).

Key Takeaways

  • Geographically, North America Ultrasound Device Market accounted for the highest revenue share in 2020 and it is poised to dominate over the period 2021-2026 owing to the rise in the adoption of handheld ultrasonic devices for home healthcare and remote patient monitoring.
  • The increase in the adoption of handheld devices for nondestructive testing in developed nations is driving the Handheld Ultrasound Devices segment. However, the stringent government regulations for the approval of products is one of the major factors that is said to reduce the growth of the Ultrasound Device Market.
  • Detailed analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Ultrasound Device Market report.

 

Ultrasound Device Market Size, By Product Type, 2020-2026 (USD Million)

Ultrasound Device Market
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Ultrasound Device Market Segment Analysis-By Product Type

The Ultrasound Device Market based on the Product Type can be further segmented into Diagnostic Ultrasound Devices and Therapeutic Ultrasound Devices. The Diagnostic Ultrasound Devices segment held the largest share in 2020 and is also estimated to be the fastest growing segment with a CAGR of 5.2% over the period 2021-2026. This growth is owing to the factors such as the rise in the adoption of diagnostic sonography devices and the growing investments by the key players in research and development activities for developing advanced products. The growing demand for Doppler imaging techniques is driving the growth of the Ultrasound Device Market. The Therapeutic Ultrasound Devices segment held the second largest share in 2020 owing to the factors such as the growing adoption of physical therapists to treat chronic pain and also to promote tissue healing and the rise in the product launches by key players.

Ultrasound Device Market Segment Analysis - By Portability

The Ultrasound Device Market based on Portability can be further segmented into Handheld Ultrasound Devices and Cart based Ultrasound Devices. The Handheld Ultrasound Devices segment held the largest share in 2020 and is also estimated to be the fastest growing segment with a CAGR of 4.7% over the period 2021-2026. This growth is owing to the factors such as the increase in the adoption of handheld devices for nondestructive testing and the rise in the investment by the key players to develop advanced handheld devices. The rise in the inclination towards home healthcare and remote patient monitoring in developed nations is driving the growth of the Ultrasound Device Market. The Cart based Ultrasound Devices held the second largest share in 2020 owing to the factors such as the rise in the adoption of cart/trolley based ultrasound devices for getting accurate raw data for post-processing and an increase in the demand for cart-based point-of-care ultrasound (POCUS) devices to combine the aspects of portable and conventional systems.

Ultrasound Device Market Segment Analysis - By Geography

The Ultrasound Device Market based on the Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and Rest of World. North America held the largest share with 31% of the overall market in 2020. The growth in this segment is owing to the factors such as the rise in the demand for handheld devices for nondestructive testing and the increase in the adoption of handheld ultrasonic devices for home healthcare. The rise in the demand for Doppler imaging tests is driving the growth of the Ultrasound Device Market. Asia-Pacific segment is estimated to be the fastest growing segment over the period 2021-2026. The growth in this segment is owing to the factors such as the rise in the adoption of ultrasound devices for the treatment of extracorporeal shockwave lithotripsy and growing investment by the key players to develop advanced ultrasound devices.

Ultrasound Device Market Drivers

Increase in the Adoption of Ultrasound-guided Extracorporeal Shockwave Lithotripsy

Ultrasound devices are increasingly being adopted for the treatment of extracorporeal shockwave lithotripsy owing to their ability to localize radiolucent stones and differentiate the stone from a stent. The usage of ultrasound devices in extracorporeal shockwave lithotripsy reduces the radiation exposure to both the patient and operator, which is one of the major factors driving the growth of the Ultrasound Device Market.

Rise in the Demand for Doppler Imaging

Doppler imaging ultrasound tests are increasingly being used as an alternative to more invasive procedures owing to their ability to estimate the speed of blood flows by measuring the rate of change in its pitch. This Doppler imaging also helps the doctor to monitor certain treatments to veins and arteries, which is further propelling the growth of the Ultrasound Device Market.

Ultrasound Device Market Challenges

Stringent Government Regulations

The key players in the market are collaborating with other players to carry out various research and development activities for launching advanced handheld ultrasound devices for the treatment of various diseases. However, the stringent government regulations for the approval of products is one of the major factors that is estimated to reduce the growth of the Ultrasound Device Market.

Ultrasound Device Market Competitive Landscape:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Ultrasound Device Market. Key companies of this market are Toshiba Medical Systems Corporation, Analogic Corporation, GE Healthcare, SonaCare Medical, Koninklijke Philips N.V., Siemens Healthcare GmbH, Mindray Medical International Limited, Neusoft Corporation, Samsung Medison, and Canon Medical Systems Corporation among others.

Acquisitions/Product Launches:

  • In March 2021, GE Healthcare has launched a handheld ultrasound device to offer whole-body scanning capabilities and an intuitive software platform delivered in a handheld device. It also has the ability to complete deep exams through a flip of the probe design.
  • In October 2020, Koninklijke Philips N.V. has launched the Ultrasound 3300 tailored for Obstetrics and Gynecology to offers clinicians and doctors a powerful workflow optimization for quick and efficient diagnosis with low operating costs.
  • In April 2019, Canon Medical Systems Corporation has launched New Ultrasound Product Line at AIUM for clinical use at an affordable price point. This product seamlessly integrates into workflow for high-resolution 2D imaging and volumetric ultrasound.

Relevant Links:

Report Code: HCR 67859

Report Code: HCR 0819

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1. Ultrasound Device Market - Overview
    1.1 Definitions and Scope
2. Ultrasound Device Market - Executive Summary
    2.1 Market Revenue and Key Trends by Company
    2.2 Key trends by Product Type
    2.3 Key trends by Application
    2.4 Key trends by Geography
3. Ultrasound Device Market – Comparative Analysis
    3.1 Product Benchmarking – Key Companies
    3.2 Financial Analysis – Key Companies
    3.3 Market Value Split by Key Companies
    3.4 Patent Analysis – Key Companies
    3.5 Pricing Analysis
4. Ultrasound Device Market - Startup Companies Scenario Premium
    4.1 Key Startup Company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Venture Capital and Funding Scenario
5. Ultrasound Device Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case Studies of Successful Ventures
6. Ultrasound Device Market Forces
    6.1 Market Drivers
    6.2 Market Constraints/Challenges
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes
7. Ultrasound Device Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Ultrasound Device Market – By Product Type(Market Size –$Million/$Billion)
    8.1 Diagnostic Ultrasound Devices
    8.2 Therapeutic Ultrasound Devices
9. Ultrasound Device Market – By Portability(Market Size –$Million/$Billion)
    9.1 Handheld Ultrasound Devices
    9.2 Cart based Ultrasound Devices
10. Ultrasound Device Market – By Application(Market Size –$Million/$Billion)
    10.1 Cardiology
    10.2 Anesthesiology
    10.3 Gynecology
    10.4 Radiology
    10.5 Critical Care
    10.6 Others
11. Ultrasound Device Market - By Geography(Market Size –$Million/$Billion)
    11.1 North America
        11.1.1 U.S.
        11.1.2 Mexico
        11.1.3 Canada
    11.2 Europe
        11.2.1 U.K.
        11.2.2 France
        11.2.3 Germany
        11.2.4 Italy
        11.2.5 Spain
        11.2.6 Russia
        11.2.7 Rest of Europe
    11.3 Asia Pacific
        11.3.1 China
        11.3.2 India
        11.3.3 Japan
        11.3.4 South Korea
        11.3.5 Australia & New Zealand
        11.3.6 Rest of Asia Pacific
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Rest of South America
    11.5 Rest of the World
        11.5.1 Middle East
        11.5.2 Africa
12. Ultrasound Device Market - Entropy
13. Ultrasound Device Market – Industry/Segment Competition Landscape Premium
    13.1 Market Share Analysis
        13.1.1 Global Market Share – Key Companies
        13.1.2 Market Share by Region – Key companies
        13.1.3 Market Share by Countries – Key Companies
        13.1.4 Best Practices for Companies
14. Ultrasound Device Market – Key Company List by Country Premium Premium
15. Ultrasound Device Market Company Analysis
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10
"*Financials for private companies would be provided on a best efforts basis”.

LIST OF TABLES

1.Global Ultrasound Device Product Outlook Market 2019-2024 ($M)
1.1 Diagnostic Ultrasound Devices Market 2019-2024 ($M) - Global Industry Research
1.1.1 2 D Ultrasound Devices Market 2019-2024 ($M)
1.1.2 3 D/4 D Ultrasound Devices Market 2019-2024 ($M)
1.1.3 Doppler Ultrasound Devices Market 2019-2024 ($M)
1.2 Therapeutic Ultrasound Devices Market 2019-2024 ($M) - Global Industry Research
1.2.1 Extracorporeal Shockwave Lithotripsy Market 2019-2024 ($M)
2.Global Competitive Landscape Market 2019-2024 ($M)
2.1 Toshiba Medical Systems Corporation Market 2019-2024 ($M) - Global Industry Research
2.2 SonaCare Medical, LLC Market 2019-2024 ($M) - Global Industry Research
2.3 Analogic Corporation Market 2019-2024 ($M) - Global Industry Research
2.4 GE Healthcare Market 2019-2024 ($M) - Global Industry Research
2.5 Koninklijke Philips N.V. Market 2019-2024 ($M) - Global Industry Research
2.6 Siemens Healthcare GmbH Market 2019-2024 ($M) - Global Industry Research
2.7 Hitachi Medical Corporation Market 2019-2024 ($M) - Global Industry Research
2.8 Samsung Medison Market 2019-2024 ($M) - Global Industry Research
2.9 Mindray Medical International Limited Market 2019-2024 ($M) - Global Industry Research
3.Global Ultrasound Device Product Outlook Market 2019-2024 (Volume/Units)
3.1 Diagnostic Ultrasound Devices Market 2019-2024 (Volume/Units) - Global Industry Research
3.1.1 2 D Ultrasound Devices Market 2019-2024 (Volume/Units)
3.1.2 3 D/4 D Ultrasound Devices Market 2019-2024 (Volume/Units)
3.1.3 Doppler Ultrasound Devices Market 2019-2024 (Volume/Units)
3.2 Therapeutic Ultrasound Devices Market 2019-2024 (Volume/Units) - Global Industry Research
3.2.1 Extracorporeal Shockwave Lithotripsy Market 2019-2024 (Volume/Units)
4.Global Competitive Landscape Market 2019-2024 (Volume/Units)
4.1 Toshiba Medical Systems Corporation Market 2019-2024 (Volume/Units) - Global Industry Research
4.2 SonaCare Medical, LLC Market 2019-2024 (Volume/Units) - Global Industry Research
4.3 Analogic Corporation Market 2019-2024 (Volume/Units) - Global Industry Research
4.4 GE Healthcare Market 2019-2024 (Volume/Units) - Global Industry Research
4.5 Koninklijke Philips N.V. Market 2019-2024 (Volume/Units) - Global Industry Research
4.6 Siemens Healthcare GmbH Market 2019-2024 (Volume/Units) - Global Industry Research
4.7 Hitachi Medical Corporation Market 2019-2024 (Volume/Units) - Global Industry Research
4.8 Samsung Medison Market 2019-2024 (Volume/Units) - Global Industry Research
4.9 Mindray Medical International Limited Market 2019-2024 (Volume/Units) - Global Industry Research
5.North America Ultrasound Device Product Outlook Market 2019-2024 ($M)
5.1 Diagnostic Ultrasound Devices Market 2019-2024 ($M) - Regional Industry Research
5.1.1 2 D Ultrasound Devices Market 2019-2024 ($M)
5.1.2 3 D/4 D Ultrasound Devices Market 2019-2024 ($M)
5.1.3 Doppler Ultrasound Devices Market 2019-2024 ($M)
5.2 Therapeutic Ultrasound Devices Market 2019-2024 ($M) - Regional Industry Research
5.2.1 Extracorporeal Shockwave Lithotripsy Market 2019-2024 ($M)
6.North America Competitive Landscape Market 2019-2024 ($M)
6.1 Toshiba Medical Systems Corporation Market 2019-2024 ($M) - Regional Industry Research
6.2 SonaCare Medical, LLC Market 2019-2024 ($M) - Regional Industry Research
6.3 Analogic Corporation Market 2019-2024 ($M) - Regional Industry Research
6.4 GE Healthcare Market 2019-2024 ($M) - Regional Industry Research
6.5 Koninklijke Philips N.V. Market 2019-2024 ($M) - Regional Industry Research
6.6 Siemens Healthcare GmbH Market 2019-2024 ($M) - Regional Industry Research
6.7 Hitachi Medical Corporation Market 2019-2024 ($M) - Regional Industry Research
6.8 Samsung Medison Market 2019-2024 ($M) - Regional Industry Research
6.9 Mindray Medical International Limited Market 2019-2024 ($M) - Regional Industry Research
7.South America Ultrasound Device Product Outlook Market 2019-2024 ($M)
7.1 Diagnostic Ultrasound Devices Market 2019-2024 ($M) - Regional Industry Research
7.1.1 2 D Ultrasound Devices Market 2019-2024 ($M)
7.1.2 3 D/4 D Ultrasound Devices Market 2019-2024 ($M)
7.1.3 Doppler Ultrasound Devices Market 2019-2024 ($M)
7.2 Therapeutic Ultrasound Devices Market 2019-2024 ($M) - Regional Industry Research
7.2.1 Extracorporeal Shockwave Lithotripsy Market 2019-2024 ($M)
8.South America Competitive Landscape Market 2019-2024 ($M)
8.1 Toshiba Medical Systems Corporation Market 2019-2024 ($M) - Regional Industry Research
8.2 SonaCare Medical, LLC Market 2019-2024 ($M) - Regional Industry Research
8.3 Analogic Corporation Market 2019-2024 ($M) - Regional Industry Research
8.4 GE Healthcare Market 2019-2024 ($M) - Regional Industry Research
8.5 Koninklijke Philips N.V. Market 2019-2024 ($M) - Regional Industry Research
8.6 Siemens Healthcare GmbH Market 2019-2024 ($M) - Regional Industry Research
8.7 Hitachi Medical Corporation Market 2019-2024 ($M) - Regional Industry Research
8.8 Samsung Medison Market 2019-2024 ($M) - Regional Industry Research
8.9 Mindray Medical International Limited Market 2019-2024 ($M) - Regional Industry Research
9.Europe Ultrasound Device Product Outlook Market 2019-2024 ($M)
9.1 Diagnostic Ultrasound Devices Market 2019-2024 ($M) - Regional Industry Research
9.1.1 2 D Ultrasound Devices Market 2019-2024 ($M)
9.1.2 3 D/4 D Ultrasound Devices Market 2019-2024 ($M)
9.1.3 Doppler Ultrasound Devices Market 2019-2024 ($M)
9.2 Therapeutic Ultrasound Devices Market 2019-2024 ($M) - Regional Industry Research
9.2.1 Extracorporeal Shockwave Lithotripsy Market 2019-2024 ($M)
10.Europe Competitive Landscape Market 2019-2024 ($M)
10.1 Toshiba Medical Systems Corporation Market 2019-2024 ($M) - Regional Industry Research
10.2 SonaCare Medical, LLC Market 2019-2024 ($M) - Regional Industry Research
10.3 Analogic Corporation Market 2019-2024 ($M) - Regional Industry Research
10.4 GE Healthcare Market 2019-2024 ($M) - Regional Industry Research
10.5 Koninklijke Philips N.V. Market 2019-2024 ($M) - Regional Industry Research
10.6 Siemens Healthcare GmbH Market 2019-2024 ($M) - Regional Industry Research
10.7 Hitachi Medical Corporation Market 2019-2024 ($M) - Regional Industry Research
10.8 Samsung Medison Market 2019-2024 ($M) - Regional Industry Research
10.9 Mindray Medical International Limited Market 2019-2024 ($M) - Regional Industry Research
11.APAC Ultrasound Device Product Outlook Market 2019-2024 ($M)
11.1 Diagnostic Ultrasound Devices Market 2019-2024 ($M) - Regional Industry Research
11.1.1 2 D Ultrasound Devices Market 2019-2024 ($M)
11.1.2 3 D/4 D Ultrasound Devices Market 2019-2024 ($M)
11.1.3 Doppler Ultrasound Devices Market 2019-2024 ($M)
11.2 Therapeutic Ultrasound Devices Market 2019-2024 ($M) - Regional Industry Research
11.2.1 Extracorporeal Shockwave Lithotripsy Market 2019-2024 ($M)
12.APAC Competitive Landscape Market 2019-2024 ($M)
12.1 Toshiba Medical Systems Corporation Market 2019-2024 ($M) - Regional Industry Research
12.2 SonaCare Medical, LLC Market 2019-2024 ($M) - Regional Industry Research
12.3 Analogic Corporation Market 2019-2024 ($M) - Regional Industry Research
12.4 GE Healthcare Market 2019-2024 ($M) - Regional Industry Research
12.5 Koninklijke Philips N.V. Market 2019-2024 ($M) - Regional Industry Research
12.6 Siemens Healthcare GmbH Market 2019-2024 ($M) - Regional Industry Research
12.7 Hitachi Medical Corporation Market 2019-2024 ($M) - Regional Industry Research
12.8 Samsung Medison Market 2019-2024 ($M) - Regional Industry Research
12.9 Mindray Medical International Limited Market 2019-2024 ($M) - Regional Industry Research
13.MENA Ultrasound Device Product Outlook Market 2019-2024 ($M)
13.1 Diagnostic Ultrasound Devices Market 2019-2024 ($M) - Regional Industry Research
13.1.1 2 D Ultrasound Devices Market 2019-2024 ($M)
13.1.2 3 D/4 D Ultrasound Devices Market 2019-2024 ($M)
13.1.3 Doppler Ultrasound Devices Market 2019-2024 ($M)
13.2 Therapeutic Ultrasound Devices Market 2019-2024 ($M) - Regional Industry Research
13.2.1 Extracorporeal Shockwave Lithotripsy Market 2019-2024 ($M)
14.MENA Competitive Landscape Market 2019-2024 ($M)
14.1 Toshiba Medical Systems Corporation Market 2019-2024 ($M) - Regional Industry Research
14.2 SonaCare Medical, LLC Market 2019-2024 ($M) - Regional Industry Research
14.3 Analogic Corporation Market 2019-2024 ($M) - Regional Industry Research
14.4 GE Healthcare Market 2019-2024 ($M) - Regional Industry Research
14.5 Koninklijke Philips N.V. Market 2019-2024 ($M) - Regional Industry Research
14.6 Siemens Healthcare GmbH Market 2019-2024 ($M) - Regional Industry Research
14.7 Hitachi Medical Corporation Market 2019-2024 ($M) - Regional Industry Research
14.8 Samsung Medison Market 2019-2024 ($M) - Regional Industry Research
14.9 Mindray Medical International Limited Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Ultrasound Device Market Revenue, 2019-2024 ($M)
2.Canada Ultrasound Device Market Revenue, 2019-2024 ($M)
3.Mexico Ultrasound Device Market Revenue, 2019-2024 ($M)
4.Brazil Ultrasound Device Market Revenue, 2019-2024 ($M)
5.Argentina Ultrasound Device Market Revenue, 2019-2024 ($M)
6.Peru Ultrasound Device Market Revenue, 2019-2024 ($M)
7.Colombia Ultrasound Device Market Revenue, 2019-2024 ($M)
8.Chile Ultrasound Device Market Revenue, 2019-2024 ($M)
9.Rest of South America Ultrasound Device Market Revenue, 2019-2024 ($M)
10.UK Ultrasound Device Market Revenue, 2019-2024 ($M)
11.Germany Ultrasound Device Market Revenue, 2019-2024 ($M)
12.France Ultrasound Device Market Revenue, 2019-2024 ($M)
13.Italy Ultrasound Device Market Revenue, 2019-2024 ($M)
14.Spain Ultrasound Device Market Revenue, 2019-2024 ($M)
15.Rest of Europe Ultrasound Device Market Revenue, 2019-2024 ($M)
16.China Ultrasound Device Market Revenue, 2019-2024 ($M)
17.India Ultrasound Device Market Revenue, 2019-2024 ($M)
18.Japan Ultrasound Device Market Revenue, 2019-2024 ($M)
19.South Korea Ultrasound Device Market Revenue, 2019-2024 ($M)
20.South Africa Ultrasound Device Market Revenue, 2019-2024 ($M)
21.North America Ultrasound Device By Application
22.South America Ultrasound Device By Application
23.Europe Ultrasound Device By Application
24.APAC Ultrasound Device By Application
25.MENA Ultrasound Device By Application