Ultrasound Devices Market size is estimated to reach $9.1 billion by 2027, growing at a CAGR of 3.95% during the forecast period 2022-2027. Ultrasonic devices are utilized to discover objects and assess distances. Ultrasound imaging or sonography is frequently utilized in medicine. In the non-destructive testing of products and structures, ultrasound is utilized to discover imperceptible imperfections. Industrially, ultrasound is utilized for cleaning, blending, and accentuating chemical procedures. Doppler ultrasound imaging is a noninvasive test that can be utilized to assess the blood flow by way of the blood vessels by bouncing high-frequency sound waves (ultrasound) off circulating red blood cells. A regular ultrasound utilizes sound waves to generate images. However, it cannot display the blood flow. Doppler ultrasound imaging can assist in the diagnosis of numerous conditions, inclusive of blood clots. Focused ultrasound (FUS), also termed high-intensity focused ultrasound (HIFU), is the procedure where ultrasound beams from a curved array of transducer elements are launched onto a single focal point. For waves functioning at megahertz frequencies, this focal point may be as tiny as a few millimeters. Ultrasonography means “extreme sound writing,” owing to sonographers preparing pictures utilizing ultrasound, or high-frequency sound. Extracorporeal shock-wave lithotripsy (ESWL) is a collateral secure and efficient technique of conveying shock waves. The method can be utilized for stone fragmentation under ultrasound or fluoroscopic guidance, consequent to contrast being instilled through a nasobiliary catheter to help in stone visualization (Tandan et?al, 2009).
The boost in the acceptance of ultrasound devices for diagnostic imaging and treatment in conjunction with the increasing predominance of incessant and lifestyle-associated ailments is set to drive the Ultrasound Devices Market. The emerging demand for minimally invasive surgery and the technological progress in ultrasound imaging technology like high-intensity focused ultrasound are set to propel the growth of the Ultrasound Devices Market during the forecast period 2022-2027. This represents the Ultrasound Devices Industry Outlook.
Ultrasound Devices Market Segment Analysis – By Type:
The Ultrasound Devices Market based on type can be further segmented into Stationery Ultrasound and Portable Ultrasound. The Stationery Ultrasound Segment held the largest market share in 2021. This growth is owing to the burgeoning acceptance of these systems owing to their heightened application in acute care settings and emergency care in hospitals and healthcare institutions. Ultrasound imaging techniques include Doppler Ultrasound Imaging. The principal technological revolution in these ultrasound systems is further propelling the growth of the Stationery Ultrasound segment.
Furthermore, the Portable Ultrasound segment is estimated to grow with the fastest CAGR of 4.31% during the forecast period 2022-2027 owing to the surging advantages of portable ultrasound devices like precise and instant diagnoses, enhanced patient throughput, and economical care in conjunction with the application of ultrasound imaging techniques like Doppler Ultrasound Imaging.
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Ultrasound Devices Market Segment Analysis – By Application:
The Ultrasound Devices Market based on the application can be further segmented into Anesthesiology, Cardiology, Gynaecology / Obstetrics, Musculoskeletal, Radiology / General Imaging, Critical Care, and Others. The Radiology / General Imaging Segment held the largest market share in 2021. This growth is owing to the low cost of general imaging. Ultrasound imaging techniques include Doppler Ultrasound Imaging. The extensive application of general imaging covering an extensive series of scans needed by clinicians for diagnosis and direct treatment like abdominal, musculoskeletal, liver, thyroid, pancreas, kidneys, spleen, gall bladder and more is further propelling the growth of this segment.
Furthermore, the Cardiology segment is estimated to grow with the fastest CAGR of 4.47% during the forecast period 2022-2027 owing to the increasing predominance of cardiovascular diseases worldwide requiring application of Doppler Ultrasound Imaging.
Ultrasound Devices Market Segment Analysis – By Geography:
The Ultrasound Devices Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America (Ultrasound Devices Market) held the largest share with XX% of the overall market in 2021. The growth of this region is owing to the surging count of healthcare providers in the region. The expanding population of the elderly and the increasing predominance of incessant ailments requiring the application of Doppler Ultrasound Imaging is further driving the growth of the Ultrasound Devices Market in this region. The existence of key players like General Electric Company in the U.S. in the region is further propelling the growth of the Ultrasound Devices Market in the North American region.
Furthermore, the Asia-Pacific region is estimated to be the region with the fastest CAGR rate over the forecast period 2022-2027. This growth is owing to factors like surging demand for superior imaging devices in the Asia-Pacific region. The proliferating application of ultrasound imaging techniques like Doppler Ultrasound Imaging and enhanced healthcare services in South-East Asian countries like India are further fuelling the progress of the Ultrasound Devices Market in the Asia-Pacific region.
Ultrasound Devices Market Drivers
Surging Applications Of Ultrasound In Medical Imaging Are Projected To Drive The Growth Of Ultrasound Devices Market:
A medical ultrasound imaging system can be utilized to envision the structure of any of the internal organs of the body in real-time. By applying the Doppler effect (which is an alteration in the frequency of sound as the object progresses towards/away from the source), the flow of blood by way of the vessels can also be recorded. This is termed Doppler Ultrasound Imaging. Ultrasound can be utilized to assess the female reproductive system and the developing foetus in the womb in the field of Obstetrics/Gynaecology. This is very useful in discovering potential foetal anomalies prior to birth. Solid organs, like the liver and pancreas in the abdomen or the bladder and uterus in the pelvis, may be envisioned constituting the Abdomen and Pelvic Sonogram. It supports the envisioning of the brain and discovers anomalies in blood flow to the brain as part of Neurosonography. Vascular ultrasound is utilized to evaluate the quantity and rate of blood flow in vessels and to discover the existence of constrictions or stenosis. Echocardiography ultrasound is particularly for the heart and its principal blood vessels, inclusive of the aorta and pulmonary artery. The surging applications of ultrasound in medical imaging are therefore fuelling the growth of the Ultrasound Devices Market during the forecast period 2022-2027.
Soaring Innovations In Ultrasound Medical Imaging Are Expected To Boost The Demand Of Ultrasound Devices Market:
Apart from the application of Doppler Ultrasound Imaging, ultrasound medical imaging has witnessed numerous innovations. Similar to radiographs, ultrasound acquisition has gone into the digital space. Compared to traditional analog ultrasound, digital ultrasound diagnostic imaging system is more trustworthy and tends to generate superior images owing to the digital ultrasound possessing superior features like digital beam production where sound wave beam can be regulated by digital means in conjunction with enhanced signal-noise ratio and signal acquisition and superior storage and archiving. The capability to pack big quantities of information onto tiny microchips has permitted the once huge ultrasound devices to dwindle in size, thereby adding to their portability. 3D ultrasound images can be acquired by reconstructing an array of two-dimensional images. The principal benefit of this method is that it can help in volumetric measurements. For instance, with 3D echocardiography, quantification of atrial and ventricular volume can be performed. 4D ultrasound has also been established as part of the medical ultrasound imaging system. In 4D imaging, the physician can envision the reconstructed images identically as in 3D ultrasound images. However, they can also assess function in real-time. For example, by utilizing 4D ultrasound in obstetrics, it is feasible with 4D imaging to envision the foetus opening its eyes or sucking on a thumb. These kinds of surging innovations in Ultrasound Medical Imaging are driving the growth of the Ultrasound Devices Market during the forecast period 2022-2027.
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Ultrasound Devices Market Challenges
Dearth Of Sufficient Specialist Knowledge For Application Of Portable Ultrasound Device Is Challenging The Growth Of The Ultrasound Devices Market:
With the onset of handheld ultrasound, numerous areas of medicine that did not formerly utilize ultrasound are likely to do so in the forthcoming years. However, one vital challenge in extending the application of the portable ultrasound device is the dearth of sufficient specialist knowledge. Numerous physicians and primary healthcare providers may not have adequate training to be able to interpret the ultrasound images with ease and accuracy. Carrying out the ultrasound scan may also need some technical skills which require to be gained. Certain ultrasound machine makers are looking towards artificial intelligence (AI) and deep learning (DL) methods as feasible solutions to the above challenges. By including image recognition methods, the portable ultrasound makers permit the device to provide users guidance on organ detection and probe placement. Philips Healthcare, for example, has established an ‘AI breast’ system that supports the sonographer in recognizing essential anatomical landmarks. This assists in arriving at a correct diagnosis. AI systems are presently under research for discovering abnormalities within images and arriving at a diagnosis. AI solutions are also being established for ultrasound-based quantification. These issues are challenging the growth of the Ultrasound Devices Market.
Ultrasound Devices Market Landscape:
Product launches, mergers and acquisitions, joint ventures, and R&D Activities are key strategies adopted by players in the Ultrasound Devices Market. Key companies of this market are:
General Electric Company (U.S.)Philips (Netherlands)Canon Medical Systems (Japan)Siemens HealthineersHitachi (Japan)Samsung Electronics (South Korea)FUJIFILM Holdings Corporation (Japan)Esaote S.p.A. (Italy)Analogic Corporation (U.S.)Carestream (U.S.)
Recent Developments
In May 2021, Siemens Healthineers introduced Somatom X.ceed1, a novel high-resolution, high-speed CT (computed tomography) scanner engineered particularly for the most challenging clinical areas where time and accuracy are of significance. To back medical staff in their workflows at the time of crucial situations, two “companions” for automatized user guidance are combined: myExam Companion leads users by way of diagnostic processes; myNeedle Companion2 backs targeted needle path planning and laser-guided insertion across numerous modalities. Consequently, the quickest single-source CT scanner from Siemens Healthineers can help healthcare providers with their clinical decisions specifically well in areas like emergency imaging, cardiac CT, and CT-guided interventions, all of them burgeoning clinical fields.
In November 2021, Canon Medical revealed the Vantage Fortian – a novel, progressive productivity, open bore 1.5T MRI system – at RSNA 2021. The novel system is characterized by ingenious workflow solutions, image improvement, and rapid scan technology, which together, can contribute to minimizing the time needed for MRI processes. Characterized by a mobile interface that permits remote supervision and smoothly continuous data integration, and in-room scan assists technology that automatically inspects coils and correct patient position, Vantage Fortian is planned to get patients going from waiting-room to scan-room to home.
In July 2020, Royal Philips revealed a novel series of DIY female grooming products for hair care and facial beauty. With customized care large on agenda, it has established intelligent microprocessor enabled products that adjust real-time and convey rare care for the rare hair. Revealing for the earliest time in India, Philips SenseIQ Hair Dryer and Hair Straightener utilize active sensors to assess hair’s temperature at the time of the styling session and adjust the temperature conveying a customized styling experience.Ultrasound Devices Market size is estimated to reach $9.1 billion by 2027, growing at a CAGR of 3.95% during the forecast period 2022-2027. Ultrasonic devices are utilized to discover objects and assess distances. Ultrasound imaging or sonography is frequently utilized in medicine. In the non-destructive testing of products and structures, ultrasound is utilized to discover imperceptible imperfections. Industrially, ultrasound is utilized for cleaning, blending, and accentuating chemical procedures. Doppler ultrasound imaging is a noninvasive test that can be utilized to assess the blood flow by way of the blood vessels by bouncing high-frequency sound waves (ultrasound) off circulating red blood cells. A regular ultrasound utilizes sound waves to generate images. However, it cannot display the blood flow. Doppler ultrasound imaging can assist in the diagnosis of numerous conditions, inclusive of blood clots. Focused ultrasound (FUS), also termed high-intensity focused ultrasound (HIFU), is the procedure where ultrasound beams from a curved array of transducer elements are launched onto a single focal point. For waves functioning at megahertz frequencies, this focal point may be as tiny as a few millimeters. Ultrasonography means “extreme sound writing,” owing to sonographers preparing pictures utilizing ultrasound, or high-frequency sound. Extracorporeal shock-wave lithotripsy (ESWL) is a collateral secure and efficient technique of conveying shock waves. The method can be utilized for stone fragmentation under ultrasound or fluoroscopic guidance, consequent to contrast being instilled through a nasobiliary catheter to help in stone visualization (Tandan et?al, 2009).
The boost in the acceptance of ultrasound devices for diagnostic imaging and treatment in conjunction with the increasing predominance of incessant and lifestyle-associated ailments is set to drive the Ultrasound Devices Market. The emerging demand for minimally invasive surgery and the technological progress in ultrasound imaging technology like high-intensity focused ultrasound are set to propel the growth of the Ultrasound Devices Market during the forecast period 2022-2027. This represents the Ultrasound Devices Industry Outlook.
Key Takeaways
Geographically, North America Ultrasound Devices Market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the surging government and private financing for R&D in ultrasound imaging and ultrasonography in the North American region.
Ultrasound Devices Market growth is being driven by the proliferating technological progress including high-intensity focused ultrasound and the increasing predominance of incessant ailments worldwide. However, the binding regulations imposed by the governments pertaining to the operational concerns and endorsement of novel products together with the dearth of skilled labor to manage progressive machines are some of the major factors hampering the growth of the Ultrasound Devices Market.
Ultrasound devises Market Detailed Analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Ultrasound Devices Market report.
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