Global Ultrasound Devices Market, By Product Type (2D Ultrasound, 3D Ultrasound, 4D Ultrasound, Doppler Ultrasound, and High Frequency Focused Ultrasound), By Application (Cardiology, Radiology, Musculoskeletal, Obstetrics/Gynecology, and Others), By Device Portability (Trolley/Stationary Devices and Portable/Compact Devices), By End User (Hospitals, Diagnostic Centers, and Ambulatory Surgical Centers), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 7.44 Bn in 2023, and is expected to exhibit a CAGR of 5.4% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Key market players are focusing on research and development activities, in order to receive product approvals from the regulatory authorities, and this is expected to drive the global ultrasound devices market growth. For instance, in October 2020, GE Healthcare, a medical technology company, announced that it had received U.S. FDA 510k clearance for its Ultra Edition package on Vivid cardiovascular ultrasound systems, which has been updated with artificial intelligence (AI)-based capabilities that let doctors do more accurate and timely tests.
Global Ultrasound Devices Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spreads quickly, and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries, such as India, China, Brazil, and others, faced problems regarding the transportation of things from one place to another.
However, the COVID-19 had positive impact on the global ultrasound devices market. For instance, in November 2020, GE Healthcare expanded AI, digital, and imaging solutions and launched a slate of new intelligently efficient solutions that include the LOGIQ E10 Series, ultrasound systems that harness artificial intelligence (AI) technology to drive workflow productivity during the COVID-19 crisis.
Global Ultrasound Devices Market: Key Developments
On July 27, 2023, UltraSight, a digital health pioneer transforming cardiac imaging through the power of artificial intelligence, announced that it had been granted FDA clearance for its AI-powered ultrasound guidance technology. The UltraSight real-time AI guidance software can assist medical professionals without sonography experience in acquiring cardiac ultrasound images at the point of care in multiple settings, allowing for more widespread detection of heart disease and providing patients easier access to cardiac monitoring.
In September 2022, Koninklijke Philips N.V., a medical device company, announced it had received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for its newest compact ultrasound system, the innovative 5000 Compact Series.
Browse 44 Market Data Tables and 39 Figures spread through 165 Pages and in-depth TOC on “Global Ultrasound Devices Market”- Forecast to 2030, Global Ultrasound Devices Market, By Product Type (2D Ultrasound, 3D Ultrasound, 4D Ultrasound, Doppler Ultrasound, and High Frequency Focused Ultrasound), By Application (Cardiology, Radiology, Musculoskeletal, Obstetrics/Gynecology, and Others), By Device Portability (Trolley/Stationary Devices and Portable/Compact Devices), By End User (Hospitals, Diagnostic Centers, and Ambulatory Surgical Centers), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/ultrasound-devices-market-438
Key Takeaways of the Global Ultrasound Devices Market:
- The global ultrasound devices market is expected to exhibit a CAGR of 5.4% during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the global ultrasound devices market .
- Among device portability segment, prtable/compact devices segment is expected to exhibit highest CAGR in the global ultrasound devices market during the forecast period. For instance, in November 2022, Koninklijke Philips N.V., a medical device company, announced the global launch of a next-generation compact portable ultrasound solution at the Radiological Society of North America (RSNA) annual meeting at Chicago, U.S. Philips’ new Compact 5000 Series aims to bring the diagnostic quality associated with premium cart-based ultrasound systems to more patients.
- Among region, North America is estimated to account for the largest market share in the global ultrasound devices market due to product launches by key market players. For instance, in March 2021, GE Healthcare launched Vscan Air, a cutting-edge, wireless, pocket-sized ultrasound that provides crystal clear image quality, whole-body scanning capabilities, and intuitive software-all in the palm of the clinician's hands.
- Major players operating in the global ultrasound devices market are GE Healthcare, Koninklijke Philips N.V., Toshiba Medical Corporation, Hitachi Medical Corporation, Analogic Corporation, Fujifilm Corporation, Siemens Healthcare, Samsung Medison Co. Ltd., and Esaote S.p.A.
