The global Ultrasound Systems Market is estimated at USD 9.5 billion in 2022 and is projected to reach USD 13.2 billion by 2028, growing at a CAGR of 5.5% during the forecast period (2022-2028).
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Digitization in the healthcare sector has revamped the ultrasound systems market. The advancements in different spheres of the industry has benefited not just the patients but the market too, as the demand for medical examination has surged over the past decade. A new market research report by Future Market Insights, revolves around an in-depth and an all-inclusive analysis of Global Ultrasound Systems Market, reveals a strong growth of the market due to upgraded services provided to the patients and also the easier approach to the internal body examination witnessed with the usage of ultrasound systems.
| Data Points | Market Insights | |
| Market Value 2021 | US$ 9.0 Bn | |
| Market Value 2022 | US$ 9.5 Bn | |
| Market Value 2028 | US$ 13.2 Bn | |
| CAGR 2022-2028 | 5.5 | % |
| Market Share of Top 5 Countries | 55.1 | % |
| Key Industry Players | GE Company, Fujifilm Holdings Corporation, Siemens AG, Koninklijke Philips N.V., Toshiba Medical System Corp., Hitachi Medical Corp., Mindray Medical International Ltd, FUJIFILM Holdings Corporation, Samsung Medison Co., Ltd, Esaote SpA and Others | |
According to the outcomes of global forecast mentioned in the report titled ‘Ultrasound Systems Market – Global Industry Analysis 2012 – 2021 and Opportunity Assessment 2022 – 2028’, the global ultrasound systems market is expected to reach a market value of over US$ 13.2 Bn by the end of 2028, growing at an impressive CAGR of 5.5% during the forecast period.
Hospitals to hold largest share in Ultrasound Systems Market with highest demand for application in Radiology
Hospitals shift toward more value-oriented products, they need to operate more efficiently and productively. Similarly, a quality shift has occurred with patients, who more proactively involved in their care. Trends from the shift to value-based care include data integration and population health management. An influx of data combined with advancements in imaging helps leverage these data to not only bring further value but also apply it to broader populations. Along with the clearer and high definition pictures that are a part of ultrasound systems, there has also been an introduction to the portable machines. These are the more handy and easy to move form of ultrasound systems that have come into existence not long ago.
Although the developed nations are already familiar with the technology, the market may find a higher prospects of growth in the developing regions. The market analysis has shown that hospitals hold the highest market share in the Global Ultrasound Systems Market, however diagnostics imaging and surgical centers are expected to raise a higher demand for the systems in the coming years. In terms of application the market is also dominated by Radiology as the key application area for ultrasound systems and is expected to continue growing further at a CAGR of 6.3% during the forecast period, as analyzed by FMI.
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Scope of the Report
| Attribute | Details |
| Forecast Period | 2022-2028 |
| Historical Data Available for | 2012-2021 |
| Market Analysis | US$ Mn for Value |
| Key Regions Covered | North America, Latin America, Western Europe, Eastern Europe, APECJ, Japan and Middle East and Africa |
| Key Countries Covered | US, Canada, Brazil, Mexico, Germany, U.K., France, Italy, Spain, Russia, Poland, Nordic Countries, China, Japan, India, ASEAN, Australia, New Zealand, South Africa and GCC Countries |
| Key Market Segments Covered | Modality, Application, End User and Region |
| Key Companies Profiled |
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Favourable Government Policies to Benefit Start-up Companies and Independent diagnostic centers
As a move to encourage start-up companies, government of various regions like Asia Pacific and MEA have bolstered the initiatives to support the new start-ups who are entering the healthcare and medical device industry. It includes exemption of taxes for the first three years, subsidizing patent protection cost etc. The move is intended to boost the overall market for medical devices.
Specifically the medical imaging market has also taken an independent position in the global market. With the betterment in services and advanced facilities related to ultrasound or any other imaging techniques, the global market is expected to witness a higher volume of independent imaging centers.
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The companies have also independently introduced handy and user-friendly devices in the market. GE, Philips, Samsung, Fukuda, Mindray, Hitachi, Toshiba, and Siemens, all these companies offer their own particular models.
The coming years will showcase more advanced ultrasound systems, which will provide an image clearer than 3D or 4D pictures.
Key Market Segments Covered in Ultrasound systems Market Research
By Modality:
- Cart/Trolley Based
- Compact/Hand Held
By Application:
- Radiology
- Obstetrics & Gynaecology
- Cardiology
- Gastroenterology
- Others
By End User:
- Hospitals & Clinics
- Diagnostic Imaging & Surgical Centers
- ASCs
- Others
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