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  • Published On : Aug 2023
  • Code : CMI4212
  • Pages :175
  • Formats :
      Excel and PDF
  • Industry : Medical Devices

Global phased array ultrasonic transducer market is estimated to be valued at US$ 599.7 million in 2023, and is expected to exhibit a CAGR of 5% during the forecast period (2023-2030).

Analysts’ Views on Global Phased Array Ultrasonic Transducer Market:

Increasing use of phased array ultrasonic transducers in a variety of medical applications including gynaecology, neurological, cardiovascular, and renal may offer tremendous growth potential. Global phased array ultrasonic transducer market may can experience growth due to widespread usage of these devices by end users including academic and research institutions, hospitals, specialist clinics, and others.

Figure 1. Global Phased Array Ultrasonic Transducer Market Share (%), By End User, 2023

PHASED ARRAY ULTRASONIC TRANSDUCER MARKET

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Global Phased Array Ultrasonic Transducer Market – Driver

Increasing approval of product by regulatory authority

Approval of phased array ultrasonic transducer technology has opened up new possibilities in non-destructive testing and medical imaging. It has revolutionized the way practitioners inspect and diagnose defects in materials and organs. Phased array ultrasonic transducer technology offers enhanced flexibility and precision in directing ultrasonic waves by allowing accurate detection and characterization of flaws or abnormalities. This advanced technology has significantly improved the efficiency and reliability of inspections and diagnoses, and thus, leading to better outcomes in various industries such as aerospace, automotive, and healthcare. For instance, on September 28, 2022, Fujifilm Medical Systems, a medical device company, received the regulatory approval for its latest generation Endoscopic Ultrasound endoscope (EG-740UT), and achieved compatibility of its Ultrasound endoscope line-up with Fujifilm Healthcare's flagship ARIETTA Ultrasound system (ARIETTA 850 FF ENDO).

Figure 2. Global Phased Array Ultrasonic Transducer Market Share (%), By Region, 2023

PHASED ARRAY ULTRASONIC TRANSDUCER MARKET

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Global Phased Array Ultrasonic Transducer Market- Regional Analysis

Among region, North America is estimated to hold a dominant position in the global phased array ultrasonic transducer market over the forecast period. North America is estimated to hold 38.2% of the market share. The phased array ultrasonic transducer is in greater demand as the prevalence of cardiovascular disease rises In the U.S., it has been noted that peoples has a heart attack every 40 seconds. Every year, about 805,000 people in the U.S. have heart attack. Of these, 605,000 are a first heart attack, 200,000 incidents happen to people who have already had a heart attack, and about 1 in every 5 people have heart attacks that  are silent, but the damage is already done, and  the person is not aware of it.

Global Phased Array Ultrasonic Transducer Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others faced problems with the transportation of drugs from one place to another.

Phased Array Ultrasonic Transducer Market Report Coverage

Report Coverage Details
Base Year: 2022 Market Size in 2023: US$ 599.7 Mn
Historical Data for: 2018 to 2022 Forecast Period: 2023 to 2030
Forecast Period 2023 to 2030 CAGR: 5% 2030 Value Projection: US$ 843 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Type: Linear Array, Annular Array, Circular Array
  • By Application: Cardiovascular, Neurological, Renal, Gynecology, Others
  • By End User: Hospitals, Specialty Clinics, Advance and Research Institutes, Others 
Companies covered:

B K Medical Systems Inc., Koninklijke Philips N.V., GE Healthcare, Spacelabs Healthcare, SonoScape Medical Corp, Edan Instruments Inc., Samsung Healthcare, Mindray Medical International Limited, Esaote, FUJIFILM Medical Systems, Siemens Healthineers AG, Canon Medical Systems Corporation, Butterfly Network Inc., Vermon NDT, EagleView Technologies, Inc., Yembo, Qorvo, Sofant Technologies, and WaveArray Antifouling Systems, LLC.

Growth Drivers:
  • Approval of product by regulatory authority
Restraints & Challenges:
  • Lack of knowledgeable and qualified sonographers

Global Phased Array Ultrasonic Transducer Market- Segmentation

Global phased array ultrasonic transducer market report is segmented into  type, end user, Application.

By type, the market is segmented into linear array, annular array, and circular array. Out of which, the linear array segment is expected to hold a dominant position in the global phased array ultrasonic transducer market during the forecast period due to technological advancements in the field of phased array ultrasonic transducer.

By application, the market is segmented into cardiovascular, neurological, renal, gynecology, and others. Out of which, the cardiovascular segment is expected to hold a dominant position in the global phased array ultrasonic transducer market during the forecast period due to increasing prevalence rate of cardiovascular disease.

By end user, the market is segmented into hospitals, specialty clinics, advance and research institutes, and others. Out of which, the Hospital segment is expected to dominate the market over the forecast period due to increasing cardiovascular patient for treatment and diagnosis.

Among all the segmentation, the application segment has the highest potential due to the increasing technology advancement over the forecast period. Increasing cardiovascular disease prevalence rate worldwide is the main factor for the market expansion. Cardiovascular diseases (CVDs) are the leading cause of death globally, accounting for an estimated 17.9 million lives each year. CVDs are a group of disorders of the heart and blood vessels and include coronary heart disease, cerebrovascular disease, rheumatic heart disease, and other conditions. More than four out of five CVD deaths are due to heart attacks and strokes, and one third of these deaths occur prematurely in people under 70 years of age.

Global Phased Array Ultrasonic Transducer Market- Cross Sectional Analysis

Utilizing its great spatial and temporal resolution and by analysing the geometry and function of the heart, ultrasound (US) imaging is utilised to diagnose cardiac illness. The limitations of the US, however, include its small field of view, refraction, poor resolution, and contrast anisotropy. These problems cannot be solved by a single probe. A new interleaved multi-perspective 2-D US imaging system was presented here with the goal of improving imaging of the left ventricle (LV) of the heart by collecting US data from two different phased array probes concurrently at a high frame rate. A study from 2022 that used two phased array probes to demonstrate multi-perspective high frame rate ultrasound imaging of the heart in a configuration with an ex-vivo beating pig heart can help you comprehend this better. This method's advantages in terms of image quality have been illustrated by an increased field of vision, improved image contrast, and improved image resolution.

Global Phased Array Ultrasonic Transducer Market: Key Trends

Research funding for phased array transducer

Research funding for the phased array ultrasonic transducer plays a major role in the advancement of the technology and research expansion. Phased array ultrasonic transducers have gained significant attention in various industries, due to their ability to provide precise and detailed imaging for non-destructive testing and medical applications. Therefore, acquiring sufficient research funds is essential for expanding the technology's capabilities and investigating new research directions. Increased research funding can facilitate collaborations between academia and industry, and thus, leading to faster technology adoption and commercialization. For instance, on April 25, 2023, WaveArray Antifouling Systems, LLC, a U.S.-based marine electronics company, received US$ 999,122 National Science Foundation (NSF) Small Business Innovation Research (SBIR) Phase II award. The 16-month project will provide funds to support WaveArray's continued development of the SlipArray technology platform thatuses ultrasonic transducer arrays submerged in slips to prevent the attachment of barnacles and other unwanted biofouling species to boats and other submerged surfaces.

Global Phased Array Ultrasonic Transducer Market: Restraint

Lack of knowledgeable and qualified sonographers

A professional sonographer is necessary when using an ultrasound transducer to provide an accurate, artifact-free recording, with good clinical quality and diagnostic utility. A trained sonographer is required to use an ultrasound transducer to take real-time pictures of the internal organs' movement and structure as well as blood flow through their blood arteries. However, an image is produced by the ultrasonic transducer's high-frequency sound waves as these pass from the probe through the gel and into the body. The imaging technology and soundwaves must therefore be operated by trained and experienced sonographers.

Counterbalance: Proper skilled sonographers should be hired who are professionally well-trained in using phased array ultrasonic transducers, so that , they can operate the imaging technology and sound wave properly.

Global Phased Array Ultrasonic Transducer Market - Key Players

Major players operating in the global phased array ultrasonic transducer market include B K Medical Systems Inc., Koninklijke Philips N.V., GE Healthcare, Spacelabs Healthcare, SonoScape Medical Corp, Edan Instruments Inc., Samsung Healthcare, Mindray Medical International Limited, Esaote, FUJIFILM Medical Systems, Siemens Healthineers AG, Canon Medical Systems Corporation, Butterfly Network Inc., Vermon NDT, EagleView Technologies, Inc., Yembo, Qorvo, Sofant Technologies, and WaveArray Antifouling Systems, LLC.

*Definition: Phased Array Ultrasonic Testing (PAUT), also known as phased array UT, is an advanced non-destructive inspection technique that uses a set of ultrasonic testing (UT) probes made up of numerous small elements. Each of these is pulsed individually with computer-calculated timing to create the phased aspect of the process, while the array refers to the multiple elements that constitute a PAUT system. The beam forms a phased array probe that can be focused and electronically swept across an inspection piece, without moving the probe itself. This differs from single element probes (also known as monolithic probes). In order to cover greater areas, these more traditional probes must be manually twisted or relocated, which is not necessary with PAUT. The concepts of wave physics, which also have applications in fields like optics and electromagnetic antennas, form the foundation of phased array ultrasonic testing.

Frequently Asked Questions

Global phased array ultrasonic transducer market is estimated to be valued at US$ 599.7 million in 2023, and is expected to exhibit a CAGR of 5% between 2023 and 2030.

The approval of new products is the key factors to expand the market growth.

Application is the leading segment in the market.

Lack of knowledgeable and qualified sonographers is expected to hinder the market growth over the forecast period.

Major players operating in the market include B K Medical Systems Inc., Koninklijke Philips N.V., GE Healthcare, Spacelabs Healthcare, SonoScape Medical Corp, Edan Instruments Inc., Samsung Healthcare, Mindray Medical International Limited, Esaote, FUJIFILM Medical Systems, Siemens Healthineers AG, Canon Medical Systems Corporation, Butterfly Network Inc., Vermon NDT, EagleView Technologies, Inc., Yembo, Qorvo, Sofant Technologies, and WaveArray Antifouling Systems, LLC.

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