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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)
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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
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