Categories: Tech

Diagnostic Ultrasound Market Size Will Attain USD 11.4

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LOS ANGELES, Dec. 06, 2022 (GLOBE NEWSWIRE) — The Global Diagnostic Ultrasound Market Size accounted for USD 7.2 Billion in 2021 and is projected to occupy a market size of USD 11.4 Billion by 2030 growing at a CAGR of 5.3% from 2022 to 2030.

The diagnostic ultrasound technique is used to generate images of internal body structures such as muscles, blood vessels, tendons, joints, and other internal organs. Its goal is to rule out pathology or locate the source of a disease. Pregnant women are also examined using ultrasound. North America is expected to grow at the fastest rate during the forecast period, owing to increased use of advanced electronics equipment in medical devices, rising incidences of chronic diseases, growing public awareness of early disease detection, and ongoing technological advancements.

Diagnostic Ultrasound Market Statistics

  • Global diagnostic ultrasound market value was USD 7.2 billion in 2021 and expected to grow at CAGR of 5.3% from 2022 to 2030
  • According to the GLOBOCAN data, worldwide over 19.3 million people were diagnosed with cancer in 2020
  • North America diagnostic ultrasound market share will gather around USD 2.2 billion market share in coming years
  • As per the American Cancer Society projection, the United States will record 1.9 million cancer cases by 2022
  • Asia-Pacific diagnostic ultrasound market growth registered considerable CAGR of around 6% over the projected years from 2022 to 2030
  • Among technology, 2D recorded sub-segment collected US$ 2.7 billion in revenue in 2021
  • Based on application, general imaging sub-segment recorded US$ 2.8 billion of the market revenue in 2021
  • Growing adoption of therapeutic ultrasound is a key diagnostic ultrasound market trend that fuels the industry growth

Diagnostic Ultrasound Market Growth Factors

  • Rising occurence of chronic disorders
  • Increasing number of diagnostic centers
  • Growing elderly population and increase in birth rates
  • Expansion of point-of-care ultrasound devices

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Diagnostic Ultrasound Market Coverage:

Market Diagnostic Ultrasound Market
Diagnostic Ultrasound Market Size 2021 USD 7.2 Billion
Diagnostic Ultrasound Market Forecast 2030 USD 11.4 Billion
Diagnostic Ultrasound Market CAGR During 2022 – 2030 5.3%
Diagnostic Ultrasound Market Analysis Period 2018 – 2030
Diagnostic Ultrasound Market Base Year 2021
Diagnostic Ultrasound Market Forecast Data 2022 – 2030
Segments Covered By Technology, By Portability, By Application, By End-User, And By Geography
Diagnostic Ultrasound Market Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Key Companies Profiled Canon Medical Systems, FujiFilm, GE Healthcare, Hitachi, Kalamed, Samsung Electronics, Koninklijke Philips, TELEMED Medical Systems, Siemens Healthcare, and Toshiba Medical Systems.
Report Coverage Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis

Diagnostic Ultrasound Market Dynamics

Rising chronic disease occurrences, various benefits offered by diagnostic ultrasounds, rapidly growing geriatric population base, elderly population highly susceptible to diseases to several functional and structural changes, ever-increasing birth rates in numerous countries such as Germany and Russia, and increasing technological developments are some of the fundamental factors driving diagnostic ultrasound market growth globally.

Rising Chronic Disease Incidences and Growing Public Awareness of Early Diagnosis to Drive Global Diagnostic Ultrasound Market Growth

Growing chronic disease occurrences worldwide, as well as a rapidly growing geriatric population base, are some of the factors positively influencing global market growth and are expected to boost demand for diagnostic ultrasound methods in the coming years. Because of various functional and structural changes, the elderly population is predisposed to a variety of diseases. During the forecast period, this factor is expected to drive industry growth. Furthermore, increasing investments in developing countries to improve healthcare amenities will have a positive impact on the growth of the global diagnostic ultrasound market.

Rising birth rates in various countries as a result of increased use of diagnostic ultrasound during pregnancy are expected to drive global market growth over the forecast period. The ability of diagnostic ultrasounds to detect actions inside the womb and irregularities in baby position is driving global market growth. Furthermore, rapid advances in ultrasound technology will fuel market growth. The growing demand for enhanced and precise diagnostic techniques as the occurrences of various diseases increase is expected to drive the adoption of diagnostic ultrasound techniques. The government supports a wide range of research and development activities in order to develop outstanding diagnosis and treatment methods, thereby boosting overall market growth.

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Diagnostic Ultrasound Market Segmentation

The global diagnostic ultrasound market is divided into five categories: technology, by application, by portability, by end-user, and by geography. The global ultrasound diagnostic market is divided into 2D, 3D and 4D, and doppler. Application segment is further categorized into cardiology, general imaging, OB/GYN, and others. By portability, the segmentation includes compact/handheld and trolley. Hospitals, maternity centers, and others are the categorization of end-user segment. Furthermore, the regional market is divided into North America, Europe, the Middle East and Africa, Latin America, and Asia-Pacific.

Diagnostic Ultrasound Market Share

According to our diagnostic ultrasound market forecast, the 2D sub-segment generated the most revenue in 2021 and is expected to continue on this path over the forecasted timeframe. The trolley-based ultrasound devices sub-segment gathered a significant amount of share in 2021 based on portability. In terms of applications, general imaging was the most profitable segment of the diagnostic ultrasound industry. According to our diagnostic ultrasound industry analysis, the hospitals segment is expected to dominate the market from 2022 to 2030.

Diagnostic Ultrasound Market Regional Scenario

The global diagnostic ultrasound market has been segmented geographically into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is expected to experience high growth and the highest CAGR during the forecast period due to the increasing use of advanced electronics equipment in medical devices, rising incidences of chronic diseases, growing public awareness of early disease detection, and ongoing technological advancements. The availability of advanced healthcare facilities is also assisting the regional market’s rapid growth. Rising preferences for more advanced disease diagnostic techniques, as well as rapid growth in the healthcare sector, are bolstering regional market growth. Awareness campaigns organized by various organizations are also contributing significantly to the growth of the regional diagnostic ultrasound market.

Asia-Pacific is also expected to grow significantly during the forecast period due to the presence of a large patient pool and rising disposable income. Rising disposable income in emerging economies, as well as a growing need for early and accurate diagnosis, is some of the key factors driving regional market growth.

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Diagnostic Ultrasound Market Players

The diagnostic ultrasound market is highly consolidated, with many manufacturers. Key market players’ company profiles include major business strategies, company overviews, and revenues. Key market players include Canon Medical Systems, FujiFilm, Siemens Healthcare, Hitachi, Kalamed, Samsung Electronics, GE Healthcare, TELEMED Medical Systems, Koninklijke Philips, and Toshiba Medical Systems.

Questions Answered By This Report

  • What was the market size of Diagnostic Ultrasound Market in 2021?
  • What will be the CAGR of Diagnostic Ultrasound Market during the forecast period from 2022 to 2030?
  • Who are the major players in Global Diagnostic Ultrasound Market?
  • Which region held the largest share Diagnostic Ultrasound Market in 2021?
  • What are the key market drivers Diagnostic Ultrasound Market?
  • Who is the largest end user Diagnostic Ultrasound Market?
  • What will be the Diagnostic Ultrasound Market value in 2030?

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