Ultrasonic Technology Global Market Opportunities And Strategies To 2032

“Ultrasonic Technology Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on ultrasonic technology market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis
• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for ultrasonic technology ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The ultrasonic technology market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

1) By Type: Ultrasonic Proximity Sensor; Ultrasonic Retro-Reflective Sensor; Ultrasonic Through-Beam Sensor

2) By Technology: Ultrasonic Medical Technology; Ultrasonic Processing Technology; Ultrasonic Testing Technology

3) By Application: Welding; Cleaning; Inspections; Other Applications

4) By End User: Automotive; Food and beverage; Medical and healthcare; Aerospace and defense; Industrial; Other End Users

Companies Mentioned: GE Healthcare; Philips; Olympus Corporation; Siemens Healthineers; Hitachi

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time series: Five years historic and ten years forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

Delivery Format: PDF, Word and Excel Data Dashboard.

Executive Summary

Major players in the ultrasonic technology market are: GE Healthcare, Philips, Olympus Corporation, Siemens Healthineers, Hitachi, Canon Medical, Carestream, Mindray Medical, Samsung Electronics, Fujifilm, Esaote, Boston Scientific, Crest Group, Tokyo Keiki, Baumer Electric, Branson Ultrasonic, Cameron Measurement Systems, DPR Ultrasonic Technologies, and MS Industries AG.

The global ultrasonic technology market grew from $1.86 billion in 2022 to $2.1 billion in 2023 at a compound annual growth rate (CAGR) of 13.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The ultrasonic technology market is expected to grow to $3.3 billion in 2027 at a CAGR of 12.0%.

The ultrasonic technology market includes revenues earned by entities by cubic sensors, cylindrical sensors, chemically resistant ultrasonic sensors, hygienic sensors and double sheet sensors. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

Ultrasonic technology is the technique of transmitting digital data utilizing barely audible and inaudible sound waves. The ultrasonic technology is used to detect objects and measure distances.

Asia-Pacific was the largest region in the ultrasonic technology market in 2022. The regions covered in the ultrasonic technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The main types of ultrasound technology are ultrasonic proximity sensor, ultrasonic retro-reflective sensor, and ultrasonic through-beam sensor. The term ultrasonic proximity sensor refers to sensors that are utilized in a variety of packaging applications for object detection and distance measurement. The different technologies include ultrasonic medical technology, ultrasonic processing technology, and ultrasonic testing technology and are used in various applications such as welding, cleaning, inspections, and others. It is employed in several sectors including automotive, food and beverage, medical and healthcare, aerospace and defense, industrial, and others.

The growing demand from the medical sector is expected to propel the growth of the ultrasonic technology market going forward. Businesses that provide medical services, manufacture medical equipment or medications, provide health coverage, or otherwise enable the provision of healthcare to patients make up the healthcare sector. In medicine, ultrasound imaging, also known as sonography, is employed frequently. Ultrasound is used to discover unseen faults in products and structures during non-destructive testing. For instance, according to PolicyAdvice, an insurance company, global healthcare spending is expected to reach $10 trillion by 2022. In addition, McKesson is the largest healthcare firm in the United States, with $208.3 billion in yearly revenue. Therefore, the growing demand from the medical sector drives the growth of the ultrasonic technology market.

The integration of artificial intelligence has emerged as a key trend gaining popularity in the ultrasonic technology market. Major companies operating in the ultrasonic technology sector are focused on incorporating artificial intelligence in ultrasonic devices to reinforce their position. For instance, in September 2020, GE Healthcare, a US-based manufacturing company launched an AI-based Women's Health ultrasound system, Voluson SWIFT. The Voluson SWIFT incorporates Intelligent Ultrasound's ScanNav Assist AI technology and includes SonoLyst, the world's first fully integrated AI tool that recognizes the 20 views recommended by the International Society of Ultrasound in Obstetrics and Gynecology mid-trimester practice guidelines for fetal imaging.

In October 2021, Bioventus, a US-based medical device company acquired Misonix for an undisclosed amount. Through this acquisition regenerative medicine and minimally invasive therapeutic ultrasonic technologies are added to the Bioventus portfolio. Misonix is a US-based company that provides ultrasonic technologies.

The countries covered in the ultrasonic technology market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The ultrasonic technology market research report is one of a series of new reports from The Business Research Company that provides ultrasonic technology market statistics, including ultrasonic technology industry global market size, regional shares, competitors with a ultrasonic technology market share, detailed ultrasonic technology market segments, market trends and opportunities, and any further data you may need to thrive in the ultrasonic technology industry. This ultrasonic technology market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.