PUBLISHER: Renub Research | PRODUCT CODE: 1463189
PUBLISHER: Renub Research | PRODUCT CODE: 1463189
Global ultrasound device market is expected to reach around US$ 12.92 billion by 2030, with a CAGR of 5.61% between 2024 and 2030. According to Renub Research, the market was valued at US$ 8.82 billion in 2023.
Ultrasound devices are increasingly used worldwide due to the rising prevalence of chronic ailments like cancer and HIV. WHO statistics in 2022 revealed staggering figures of cancer cases, with breast, lung, colon, rectum, prostate, and stomach cancers being the most prevalent types. Globocan 2020 reported approximately 1.41 million new prostate cancer cases worldwide in 2020, with projections indicating an increase to 2.24 million by 2040.
The worldwide ultrasound device industry is rising because of technological advancements and the demand for minimally invasive procedures. Ultrasound is used in various medical fields, including cardiology, obstetrics/gynecology, vascular, orthopedic, and general imaging. Cardiovascular diseases and heart ailments are significant causes of global mortality, claiming around 17.9 million lives every year. This has led to a surge in cardiac disorders, contributing to the overall market expansion.
The World Health Organization has reported that around 17.5% of adults worldwide face infertility issues, increasing the need for accessible and high-quality fertility care. The American Society of Clinical Oncology has predicted that by 2023, there will be 66,200 cases of uterine and endometrial cancer diagnoses in the US. Ultrasound devices play a vital role in the Market's growth by assessing pelvic anatomy, including the uterus, uterine lining, and bilateral ovaries.
Recent Expansion and Acquisitions in the Ultrasound Devices Market
United States Ultrasound Devices Market
The US is set to dominate the global ultrasound device market due to factors like rising chronic diseases, technological advancements, an aging population, and increased product launches. In 2023, The American Cancer Society Journals predicted that there would be approximately 1,958,310 new cases of cancer in the U.S., leading to an estimated 609,820 deaths. NCDs kill 41 million people every year, while new cancer cases will go up and reach by 24% in men and 21% in women by 2030. The rising adoption of ultrasound devices in the country will increase demand for diagnoses that use these devices, providing a conducive growth environment for the US ultrasound device market. Local product development activities are also expected to boost the market.
China Ultrasound Device Market
China's ultrasound device industry is anticipated to grow due to new government investment, diversifying clinical use, and a changing product mix. China's ultrasound device market is also expected to benefit from improving the quality of healthcare services in rural and metropolitan areas. The revenue growth of ultrasound in China is predicted to exceed that of other global territories. The country has a rising incidence of severe chronic diseases, rapid technological development, and an increasing geriatric population. Butterfly Network, Inc. and Ambra Health have partnered to improve the accessibility and sharing of ultrasound information across hospitals and health systems.
Ultrasound Device Market Company Analysis:
The companies leading in the global ultrasound device market are GE Healthcare, Siemens Healthcare, Philips, Canon INC., Fujifilm Holdings Corporation, Samsung Medison Co. Ltd. (Samsung Electronics Co. Ltd.), and Hitachi Ltd.
Company News:
Products - Global Ultrasound Device Market breakup in 2 viewpoints:
Portability - Global Ultrasound Device Market breakup in 2 viewpoints:
Application - Global Ultrasound Device Market breakup in 6 viewpoints:
Display type - Global Ultrasound Device Market breakup in 2 viewpoints:
End-Users - Global Ultrasound Device Market breakup in 6 viewpoints:
Country - Global Ultrasound Device Market breakup of 25 Countries:
All the Key players have been covered from 3 Viewpoints:
Company Analysis: