PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1322291
PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1322291
India Ultrasound Devices Market size was valued at USD 451.28 million in FY2023 which is expected to reach USD 782.37 million in FY2031 with a CAGR of 7.12% for the forecast period between FY2024 and FY2031. The India Ultrasound Devices Market has witnessed remarkable growth and transformation in recent years, primarily fueled by advancements in medical technology and the escalating demands in the healthcare sector. As non-invasive and versatile tools, ultrasound devices have become indispensable for medical professionals across diverse specialties. The market's expansion can be attributed to various factors, including the increasing prevalence of chronic diseases, a burgeoning elderly population, and the government's steadfast commitment to improving healthcare infrastructure. A key driver influencing the market's trajectory is the surging adoption of point-of-care ultrasound (POCUS) devices. These portable and handheld devices have gained immense popularity owing to their user-friendly nature, cost-effectiveness, and ability to offer real-time imaging in various clinical settings.
Furthermore, the continuous technological advancements in ultrasound devices have led to substantial improvements in imaging quality, diagnostic accuracy, and expanded applications. Innovations such as high-resolution imaging, 3D/4D capabilities, and seamless integration of artificial intelligence have significantly broadened the scope of ultrasound usage, thereby driving further market growth. In addition, the growing awareness regarding the advantages of early disease detection and prenatal screening has significantly spurred the demand for ultrasound devices in India. With consumers becoming increasingly proactive about their health, there is a rising preference for preventive medical services, which in turn, is propelling the market further. The future of the India Ultrasound Devices Market looks promising as it continues to evolve and contribute to improved healthcare outcomes nationwide.
For example, Fujifilm Sonosite in 2023 has introduced an advanced Point-of-Care Ultrasound (POCUS) system in India, as per their recent announcement. This new ultrasound system is designed to provide real-time imaging at the patient's bedside and in remote areas, offering portability and ease of use.
Growing awareness of early disease detection is one of the key drivers of the India Ultrasound Devices Market. As the Indian population becomes increasingly aware of the benefits of early disease detection, there is a greater demand for diagnostic imaging technologies, including ultrasound devices. Ultrasound technology is a non-invasive and safe diagnostic tool that can be used to detect a variety of medical conditions at an early stage.
In particular, ultrasound is widely used for prenatal screening, cancer detection, and cardiovascular disease diagnosis. With an increasing emphasis on preventative healthcare in India, there is a growing demand for ultrasound devices for routine health check-ups and screening. The availability of portable and handheld ultrasound devices has further increased the accessibility of ultrasound technology in remote and underserved areas of India.
The India ultrasound devices market is experiencing a significant upswing in adopting handheld ultrasound devices. These portable and compact devices offer numerous advantages, making them increasingly popular among healthcare professionals. Handheld ultrasound devices are user-friendly, cost-effective, and provide real-time imaging at the point of care, which is especially beneficial in remote and underserved areas. They enable quick and accurate diagnoses, allowing medical practitioners to make informed decisions promptly. The growing adoption of handheld ultrasound devices enhances patient care by facilitating bedside assessments and reducing the need for traditional bulky ultrasound systems. As these devices continue to improve in terms of image quality and functionality, and their increasing availability and affordability are expected to drive the India ultrasound devices market further.
For example, in 2022, The revolutionary Butterfly iQ+ point-of-care ultrasound solution has made its entry into the Indian market. Developed by Butterfly Network, this innovative handheld ultrasound device offers exceptional portability and ease of use, providing healthcare professionals with real-time imaging capabilities at the patient's bedside. With its advanced technology and user-friendly interface, the Butterfly iQ+ aims to transform the way ultrasound imaging is conducted in India, enabling quicker and more accurate diagnoses, ultimately improving patient care and healthcare outcomes.
The India ultrasound devices market is witnessing a notable surge in the demand for 3D and 4D ultrasound imaging. The adoption of these advanced imaging technologies has transformed the diagnostic landscape, offering healthcare professionals enhanced visualization and detailed insights into anatomical structures and fetal development during pregnancy. 3D and 4D ultrasound imaging provide more comprehensive and realistic images, improving the accuracy of diagnoses and facilitating better treatment decisions. Patients and expectant parents increasingly prefer these imaging modalities due to their ability to create a deeper emotional connection with the unborn baby. Furthermore, ongoing technological advancements and increasing accessibility of these imaging techniques in medical facilities across India is further expected to drive the demand for 3D and 4D ultrasound devices in the country.
For example, The ARIETTA continues to impress with its ability to produce high-quality ultrasound images launched in 2022. Developed by Hitachi Healthcare, this ultrasound system boasts advanced transducer technology and image processing algorithms, ensuring top-notch diagnostic precision. Healthcare professionals rely on the ARIETTA for clear and detailed imaging, enabling accurate diagnoses and informed treatment decisions. Its capabilities contribute to enhanced patient care and improved healthcare outcomes.
The COVID-19 pandemic had a significant impact on the India ultrasound devices market. The market experienced a significant decline in demand due to the suspension of non-essential medical procedures and elective surgeries during the lockdown period. Additionally, the disruptions in the global supply chain and manufacturing activities caused by the pandemic also affected the production and distribution of ultrasound devices. However, with the gradual lifting of restrictions and the increasing demand for diagnostic imaging equipment in the healthcare sector, the market is expected to recover in the coming years. The growing demand for point-of-care ultrasound devices and the increasing adoption of 3D and 4D ultrasound imaging technologies are expected to further drive the market in India.
The India ultrasound devices market is highly competitive, with several global and local players competing for market share. The companies offer various ultrasound devices, including portable and compact ultrasound machines, cart-based systems, and handheld devices. They are also investing in research and development to develop innovative products with advanced imaging technologies, such as 3D and 4D ultrasound, to meet the increasing demand for high-quality diagnostic imaging. In addition to these established players, several emerging players are entering the market, offering low-cost ultrasound devices, which are gaining popularity in the country.
For example, in 2022, Trivitron Healthcare, a medical devices company, established its second ultrasound manufacturing unit in India, situated in the Patalganga Industrial Area, Mumbai. This facility is geared towards producing a diverse array of advanced ultrasound devices and accessories to cater to the domestic and international markets. Under the 'Make in India' initiative, the ultrasound products manufactured here will be branded as SonoRad, reflecting the company's commitment to contribute to the local manufacturing sector while meeting the growing demand for cutting-edge medical equipment in India and globally.