The global ultrasound equipment market size is expected to reach around US$ 14.3 billion by 2030 from US$ 7.1 billion in 2020 and is expected to grow at an impressive double-digit rate of 7.3% from 2021 to 2030.
The study includes drivers and restraints of this market. The study provides an analysis of the global ultrasound equipment market for the period 2017-2030, wherein 2021 to 2030 is the forecast period and 2020 is considered as the base year.
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The ultrasound equipments are widely across the healthcare sector for diagnosis of internal organs. It uses high sound frequency waves to form images of the internal organs. The adoption of the ultrasound equipment rapidly increased in the past few years for the diagnosis of various chronic diseases such as cancer and tumor. The rising burden of chronic diseases and growing geriatric population across the globe is the primary driver of the global ultrasound equipment market. Further the introduction of innovative features and new product launches by the key market players is fueling the market growth. The rising penetration of hospitals, clinics, and diagnostic centers especially in the developing regions is fueling the demands for the ultrasound equipment. Further, the rising government expenditure for the development of healthcare infrastructure is expected to boost the growth of the market during the forecast period.
The rising demand for the diagnosis due to the rising geriatric population and rising burden of chronic diseases is the primary driver of the ultrasound equipment market. According to the International Agency for Research on Cancer, in 2020, around 19.3 million new cancer cases and 10 million cancer deaths were reported across the globe. The global cancer cases are estimated to grow by 47% from 2020 to 2040. It is expected that 28.4 million cases will be recorded in 2040, globally.According to the CDC, in 2019, there were 45 million outpatient surgeries, over 900 million physician visits, and 155 million emergency department visits in US. Further, according to the American Heart Association, more than 40% of the US adults are expected to be affected with hypertension by 2030. According to the International Diabetes Federation, by 2025, the number of diabetic population is expected to reach around 228 million in the developing nations. Therefore, the rising burden of chronic diseases among the population is expected to boost the demand for the ultrasound equipment across the globe.
Report Scope of the Ultrasound Equipment Market
| Report Coverage | Details |
| Market Size in 2020 | US$ 7.1 billion in 2020 |
| Growth Rate from 2021 to 2030 | CAGR of 7.3% |
| Largest Market | North America |
| Fastest Growing Market | Asia Pacific |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Companies Mentioned | GE Healthcare, Canon Medical Systems Corporation, Koninklijke Philips N.V, Siemens Healthineers, Terason, Hitachi Ltd., EsaoteSpA, Samsung Medison Co., Ltd., Fujifilm Holdings Corporation |
Based on Region, the North America was the leading market in 2020. North America is characterized by increased disposable income, increased awareness regarding various diagnosis equipment, developed healthcare infrastructure, growing aging population, and higher adoption rate of advanced technologies. All these factors significantly contributed towards the development of the North America ultrasound equipment market. Further, the increasing demand for the diagnosis among the population of US and Canada owing to the age related health conditions is expected to boost the market growth.
Asia Pacific is estimated to be the fastest growing market during the forecast period. This is attributable to the presence of several key manufacturers in the region. Moreover, countries like China, Taiwan, and South Korea are well-known for the manufacturing of various electronic components that helps the manufacturers to develop advanced ultrasound equipment at less cost. Further, the growing government investments to develop healthcare facilities in the region is fueling the market growth.
The high costs of the ultrasound equipment is a major restraining factor that may hamper the market growth during the forecast period. Moreover, the lack of proper healthcare infrastructure in the underdeveloped economies restricts the market to grow further.
The introduction of latest technologies like artificial intelligence (AI) and development of ultrasound equipment for specific purposes are expected to provide growth prospects in the upcoming future. Moreover, rising investments by the key players in the research and development activities is anticipated to drive the market growth in the forthcoming years.
Based on the product, the table-top segment dominated the global ultrasound equipment market in 2020, owing to its increased adoption in hospitals across the globe. Table-top equipment provides accurate, safe, and cost-effective diagnosis results and hence it is most demanded ultrasound equipment across the hospitals.
Based on the end user, the clinic segment is estimated to be the most opportunistic segment during the forecast period. This is due to the rising penetration of private clinics in the developed and developing markets. Moreover, rising demand for the diagnosis owing to the rising prevalence of chronic diseases is boosting the growth of this segment.
Based on the application, the radiology segment dominated the market in 2020. The factors accountable for the growth of this segment includes growing geriatric population, rising prevalence of chronic diseases, rising number of cancer cases and cancer survivors, and increased consumer expenditure on the health and wellness.
Why should you invest in this report?
If you are aiming to enter the global ultrasound equipment market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for ultrasound equipment are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030, so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
Some of the prominent players in the global ultrasound equipment market include:
- Canon Medical Systems Corporation
- GE Healthcare
- Koninklijke Philips N.V
- Terason
- Mindray Medical International Limited
- Hitachi Ltd.
- Siemens Healthineers
- EsaoteSpA
- Samsung Medison Co., Ltd.
- Fujifilm Holdings Corporation
- Neusoft Corporation
- CHISON Medical Technologies Co., Ltd.
- Shantou Institute of Ultrasonic Instruments Co., Ltd.
- Konica Minolta, Inc.
- Hologic, Inc.
- Analogic Corporation
Market Segmentation:
By Product
- Table-top
- Compact
By End User
- Hospitals
- Clinics
By Application
- Gynecology
- Cardiology
- Radiology
- Urology
- Point of Care
- Surgery
- Others
Regional Analysis:
The geographical analysis of the global ultrasound equipment market has been done for North America, Europe, Asia-Pacific, and the Rest of the World.
The North American Market is again segmented into the US, Canada, and Mexico. Coming to the European Market, it can be segmented further into the UK, Germany, France, Italy, Spain, and the rest. Coming to the Asia-Pacific, the global ultrasound equipment Market is segmented into China, India, Japan, and Rest of Asia Pacific. Among others, the market is segmented into the Middle East and Africa, (GCC, North Africa, South Africa and Rest of the Middle East & Africa).
Key Questions Answered by the Report:
- What will be the size of the global ultrasound equipment market in 2030?
- What is the expected CAGR for the ultrasound equipment market between 2021 and 2030?
- Which are the top players active in this global market?
- What are the key drivers of this global market?
- How will the market situation change in the coming years?
- Which region held the highest market share in this global market?
- What are the common business tactics adopted by players?
- What is the growth outlook of the global ultrasound equipment market?
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Ultrasound Equipment Market
5.1. COVID-19 Landscape: Ultrasound Equipment Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Ultrasound Equipment Market, By Product
8.1. Ultrasound Equipment Market, by Product Type, 2021-2030
8.1.1. Table-top
8.1.1.1. Market Revenue and Forecast (2019-2030)
8.1.2. Compact
8.1.2.1. Market Revenue and Forecast (2019-2030)
Chapter 9. Global Ultrasound Equipment Market, By Application
9.1. Ultrasound Equipment Market, by Application, 2021-2030
9.1.1. Gynecology
9.1.1.1. Market Revenue and Forecast (2019-2030)
9.1.2. Cardiology
9.1.2.1. Market Revenue and Forecast (2019-2030)
9.1.3. Radiology
9.1.3.1. Market Revenue and Forecast (2019-2030)
9.1.4. Urology
9.1.4.1. Market Revenue and Forecast (2019-2030)
9.1.5. Point of Care
9.1.5.1. Market Revenue and Forecast (2019-2030)
9.1.6. Surgery
9.1.6.1. Market Revenue and Forecast (2019-2030)
9.1.7. Others
9.1.7.1. Market Revenue and Forecast (2019-2030)
Chapter 10. Global Ultrasound Equipment Market, By End User
10.1. Ultrasound Equipment Market, by End User, 2021-2030
10.1.1. Hospitals
10.1.1.1. Market Revenue and Forecast (2019-2030)
10.1.2. Clinics
10.1.2.1. Market Revenue and Forecast (2019-2030)
Chapter 11. Global Ultrasound Equipment Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Product (2019-2030)
11.1.2. Market Revenue and Forecast, by Application (2019-2030)
11.1.3. Market Revenue and Forecast, by End User (2019-2030)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Product (2019-2030)
11.1.4.2. Market Revenue and Forecast, by Application (2019-2030)
11.1.4.3. Market Revenue and Forecast, by End User (2019-2030)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Product (2019-2030)
11.1.5.2. Market Revenue and Forecast, by Application (2019-2030)
11.1.5.3. Market Revenue and Forecast, by End User (2019-2030)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Product (2019-2030)
11.2.2. Market Revenue and Forecast, by Application (2019-2030)
11.2.3. Market Revenue and Forecast, by End User (2019-2030)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Product (2019-2030)
11.2.4.2. Market Revenue and Forecast, by Application (2019-2030)
11.2.4.3. Market Revenue and Forecast, by End User (2019-2030)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Product (2019-2030)
11.2.5.2. Market Revenue and Forecast, by Application (2019-2030)
11.2.5.3. Market Revenue and Forecast, by End User (2019-2030)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Product (2019-2030)
11.2.6.2. Market Revenue and Forecast, by Application (2019-2030)
11.2.6.3. Market Revenue and Forecast, by End User (2019-2030)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Product (2019-2030)
11.2.7.2. Market Revenue and Forecast, by Application (2019-2030)
11.2.7.3. Market Revenue and Forecast, by End User (2019-2030)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Product (2019-2030)
11.3.2. Market Revenue and Forecast, by Application (2019-2030)
11.3.3. Market Revenue and Forecast, by End User (2019-2030)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Product (2019-2030)
11.3.4.2. Market Revenue and Forecast, by Application (2019-2030)
11.3.4.3. Market Revenue and Forecast, by End User (2019-2030)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Product (2019-2030)
11.3.5.2. Market Revenue and Forecast, by Application (2019-2030)
11.3.5.3. Market Revenue and Forecast, by End User (2019-2030)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Product (2019-2030)
11.3.6.2. Market Revenue and Forecast, by Application (2019-2030)
11.3.6.3. Market Revenue and Forecast, by End User (2019-2030)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Product (2019-2030)
11.3.7.2. Market Revenue and Forecast, by Application (2019-2030)
11.3.7.3. Market Revenue and Forecast, by End User (2019-2030)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Product (2019-2030)
11.4.2. Market Revenue and Forecast, by Application (2019-2030)
11.4.3. Market Revenue and Forecast, by End User (2019-2030)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Product (2019-2030)
11.4.4.2. Market Revenue and Forecast, by Application (2019-2030)
11.4.4.3. Market Revenue and Forecast, by End User (2019-2030)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Product (2019-2030)
11.4.5.2. Market Revenue and Forecast, by Application (2019-2030)
11.4.5.3. Market Revenue and Forecast, by End User (2019-2030)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Product (2019-2030)
11.4.6.2. Market Revenue and Forecast, by Application (2019-2030)
11.4.6.3. Market Revenue and Forecast, by End User (2019-2030)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Product (2019-2030)
11.4.7.2. Market Revenue and Forecast, by Application (2019-2030)
11.4.7.3. Market Revenue and Forecast, by End User (2019-2030)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Product (2019-2030)
11.5.2. Market Revenue and Forecast, by Application (2019-2030)
11.5.3. Market Revenue and Forecast, by End User (2019-2030)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Product (2019-2030)
11.5.4.2. Market Revenue and Forecast, by Application (2019-2030)
11.5.4.3. Market Revenue and Forecast, by End User (2019-2030)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Product (2019-2030)
11.5.5.2. Market Revenue and Forecast, by Application (2019-2030)
11.5.5.3. Market Revenue and Forecast, by End User (2019-2030)
Chapter 12. Company Profiles
12.1. Canon Medical Systems Corporation
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. GE Healthcare
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Koninklijke Philips N.V
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Terason
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Mindray Medical International Limited
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Hitachi Ltd.
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Siemens Healthineers
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. EsaoteSpA
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Samsung Medison Co., Ltd.
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Fujifilm Holdings Corporation
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
12.11. Neusoft Corporation
12.11.1. Company Overview
12.11.2. Product Offerings
12.11.3. Financial Performance
12.11.4. Recent Initiatives
12.12. CHISON Medical Technologies Co., Ltd.
12.12.1. Company Overview
12.12.2. Product Offerings
12.12.3. Financial Performance
12.12.4. Recent Initiatives
12.13. Konica Minolta, Inc.
12.13.1. Company Overview
12.13.2. Product Offerings
12.13.3. Financial Performance
12.13.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
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