This site uses cookies, including third-party cookies, that help us to provide and improve our services. Read More

Ultrasound Systems Market

Ultrasound Systems Market

Ultrasound Systems Market, Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2021 to 2031

Ultrasound Systems Market
FACT60MR
  • Apr-2021
  • List of Tables : 317
  • List of Figures : 105
  • 170 Pages
  • Healthcare

About the Report

The global ultrasound systems market is growing steadily and is expected to ascend at over 6% CAGR through 2031. Rise in application in cardiology, radiology, vascular, and other sectors coupled with growing demand from hospitals and diagnostic centers is spurring the growth of ultrasound system manufacturers.

The recent revised edition of the report on ‘ultrasound systems’ by Fact.MR provides a detailed analysis of the global industry, while giving insights on the demand-supply patterns and emerging trends in ultrasound imaging, and the future of the ultrasound market during the forecast period of 2021 to 2031. According to the report, North America and Europe will hold major share of the global industry, while Asia Pacific will exhibit the fastest growth rate during the forecast period.

This edition (2021-2031) brings readers up-to-date with key market developments, providing analysis on how manufacturers and other stakeholders are reacting to change. The study also expands on the previous competitive landscape section, and readers will get to know the key strategies of established players as well as new entrants.

Historical Vs. Future Outlook on Ultrasound System Manufactures

Demand for ultrasound systems grew steadily over the past years, while the incorporation of cutting-edge technologies by manufacturers further catered to market growth. With advancements in hospitals and diagnostic centers and increase in preference for 2D, 3D, and 4D ultrasound, suppliers of ultrasound systems experienced significant growth during the last 5 years from 2016 to 2020.

As requirement in diverse application sectors such as cardiology, radiology, gynecology, and vascular, to name a few, is rising rapidly, profit for ultrasound system manufacturers is subject to rise further over the coming years. With demand for tabletop, standalone, and portable ultrasound systems predicted to rise further, the market is set to witness substantial growth during the forecast period of 2021 to 2031, expanding at a CAGR of over 6% over the next ten years.

Know More Details About the Report

How is Demand from Medical Diagnostics Sector Fuelling Sales of Ultrasound Systems?

Ultrasound systems are highly sought-after in the medical diagnostics sector for the diagnosis of various body parts and diseases, such as-

  • Blockage in arteries
  • Kidney stones
  • Cysts

According to a report published by the European Commission (EC) on 20th May 2020, the European Union (EU) medical diagnostics industry is highly potential, while in January 2020, the EC launched an emergency call through which EUR 38.2 million was awarded to 18 research projects in this sector. This indicates the new opportunities awaiting ultrasound system manufacturers around the world.

What are the Key Challenges Faced by Ultrasound System Suppliers?

Despite having high demand, suppliers of ultrasound systems face a few restraining factors, such as-

  • Expensive production process
  • Complex process cycle
  • Requirement for expert handling
  • Additional operational & maintenance costs

However, the overall advantages of ultrasound systems outweigh these restraints, and hence, ultrasound system providers are expected to experience lucrative growth scope in the foreseeable future.

ultrasound systems market

Avail customized purchase options for your needs

Country-Wise Analysis

What Makes the United States Highly Sought-after by Ultrasound System Manufacturers?

The United States has been a prominent market for ultrasound systems since the past decade, and is expected to exhibit hegemony throughout the forecast period. High demand from hospitals and diagnostic centers and increase in application in diverse sectors are spurring the growth of ultrasound system manufacturers in the country.

According to a report titled “Industries at a Glance- Hospitals”, published by the Bureau of Labor Statistics, the United States hospitals industry is highly progressive and is set to expand further over the coming years. As stated in the report, employment in U.S. hospitals grew to 5,174.8 thousand in December 2020, and is likely to grow further. This indirectly indicate the lucrative growth scope for ultrasound system providers in the U.S.

Why is Demand for Ultrasound Systems High in Germany?

Backed by highly advanced healthcare sector and growing adoption of cutting-edge technologies, Germany is the hotspot for manufacturers of ultrasound systems. According to Fact.MR, Germany is set to remain dominant in Europe throughout the forecast period.

According to a report titled “Germany- Healthcare”, published by SelectUSA on 29th August 2019, Germany has a long history of producing high quality medical equipment, with an emphasis on diagnostic imaging, precision medical, and other medical instruments and technologies. This implies the high opportunities awaiting ultrasound system suppliers in Germany.

What’s Bolstering Demand for Ultrasound Devices across China?

China is the epicenter of the world’s fastest-growing ultrasound systems industry - Asia Pacific, and expected to maintain its lead throughout the forecast period. Advanced healthcare and diagnostics sector and growing requirement in diverse application sectors are driving sales in China.

According to a report titled “China- Healthcare”, published by the International Trade Administration on 4th February 2021, China is the world’s second-largest healthcare industry. As stated in the report, China had 34,354 hospitals that offer over 6.8 million beds and, on an average, has 3.84 billion patient visits. No doubt that ultrasound system manufacturers are targeting China in order to increase their profit margins.

Why are Manufacturers of Ultrasound Systems Targeting India?

India has emerged as another lucrative market for ultrasound imaging systems, and is likely to sustain this position in the near future. Highly developed manufacturing units and advanced hospitals are augmenting demand growth in India.

According to a report published by IBEF, the hospitals industry in India is forecast to increase to US$ 132.84 billion by FY22 from US$ 61.79 billion in FY17 at a CAGR of 16-17%. As stated in the report, the Government of India is planning to increase public health spending to 2.5% of the country’s Gross Domestic Product (GDP) by 2025. This explains why suppliers of ultrasound systems are eyeing India in order to increase their sales footprint.

Category-Wise Insights

Which Portability Type is the Most Preferred in Ultrasound Systems?

Presently, standalone ultrasound systems are dominating in terms of portability, and are expected to lead over the forecast period owing to their various advantages, such as-

  • Ease of installation
  • Hassle-free maintenance
  • Operational flexibility
  • Diverse applicability

Other key segments in term of portability are table-top ultrasound systems and portable ultrasound systems, which are adding to the sales of manufacturers across the world. Demand for high-intensity focused ultrasound machines has also been witnessing a surge across regions. Particularly, portable ultrasound machine manufacturers will comes across lucrative opportunities over the coming years.

Which Application of Ultrasound Systems is Fueling Sales?

According to Fact.MR, application in cardiology and urology is boosting the sales of ultrasound systems. According to CDC, in the United States, one person dies every 36 seconds due to cardiovascular diseases. This gives an estimation of the high demand from the cardiology segment. Ultrasound systems are also widely used in gynecology - ultrasound machines for pregnancy diagnosis.

Other key segments driving sales in terms of application are radiology, vascular, gynecology, and others.

An Adaptive Approach to Modern-day Research Needs

Competitive Landscape

With the competition getting stricter in the medical ultrasound devices market, ultrasound system manufacturers are focusing on both, the quality and quantity of their products.

For instance,

  • Siemens AG recently launched its new ACUSON Sequoia Ultrasound System, Redwood Ultrasound System, and others.
  • Hitachi Ltd. launched its new ARIETTA 850, ARIETTA 850 SE, and others a couple of years back.

Some of the key players supplying ultrasound systems are-

  • General Electric Company
  • Koninklijke Philips N.V.
  • Toshiba Corporation
  • Siemens AG.
  • Hitachi Ltd.
  • Fujifilm Holdings Corporation.
  • Esaote SpA.
  • Shimadzu Corporation
  • Analogic Corporation
  • Samsung Electronics Co. Ltd.

*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report

Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

USD Million for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Middle East & Africa, and Oceania

Key Countries Covered

  • US
  • Canada
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Poland
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Malaysia
  • Vietnam
  • Indonesia
  • Australia
  • New Zealand
  • GCC Countries
  • Turkey
  • Northern Africa
  • South Africa

Key Segments Covered

  • Portability
  • End User
  • Application
  • Technology
  • Region

Key Companies Profiled

  • General Electric Company
  • Koninklijke Philips N.V.
  • Toshiba Corporation
  • Siemens AG.
  • Hitachi Ltd.
  • Fujifilm Holdings Corporation.
  • Esaote SpA.
  • Shimadzu Corporation
  • Analogic Corporation
  • Samsung Electronics Co. Ltd.

Report Coverage

  • Market Forecasts
  • Brand Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Market Segmentation by Category

  • Portability

    • Standalone Ultrasound Systems
    • Table-Top Ultrasound Systems
    • Portable Ultrasound Systems
  • End User

    • Ultrasound Systems for Hospitals
    • Ultrasound Systems for Diagnostic Centers
    • Ultrasound Systems for Ambulatory Surgical Centers
    • Others
  • Application

    • Ultrasound Systems for Cardiology Diagnostics
    • Ultrasound Systems for Radiology Diagnostics
    • Ultrasound Systems for Urology Diagnostics
    • Ultrasound Systems for Vascular Diagnostics
    • Ultrasound Systems for Gynecology Diagnostics
    • Others
  • Technology

    • 2D Ultrasound Machines
    • 3D Ultrasound Machines
    • 4D Ultrasound Machines
    • Doppler Ultrasound Systems
    • High-intensity Focused Ultrasound Systems
    • Extracorporeal Shockwave Lithotripsy Systems
  • Region

    • North America
    • Latin America
    • Europe
    • Middle East and Africa (MEA)
    • East Asia
    • South Asia
    • Oceania

Ultrasound Systems Market - Scope of Report

A recent study by Fact.MR on the ultrasound systems market offers a 10-year forecast from 2021 to 2031. The study analyzes crucial trends that are currently determining market growth. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders and emerging players associated with ultrasound systems. The study also provides the dynamics that are responsible for influencing the future status of the market over the forecast period.

A detailed assessment of the value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the ultrasound systems market, along with their product portfolios, enhances the reliability of this comprehensive research study.

Report Summary

The study offers comprehensive analysis on diverse features, including demand, product development, revenue generation, and sales of ultrasound systems across regions.

A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account sales during the forecast period. Price point comparison by region with global average price is also considered in the study.

Key Questions Answered in Report

  • Which are the most lucrative markets for ultrasound systems?
  • Which factors will impact demand for ultrasound systems?
  • How will changing trends impact the strategies of market players?
  • How can market players capture the low-hanging opportunities across regions?
  • Which companies are leading the ultrasound systems market?
  • What are the winning strategies of stakeholders in the ultrasound systems landscape?

Inspected Assessment on Regional Segments

Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the market during the forecast period.

Country-specific valuation on demand for ultrasound systems has been offered for each regional market, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value for emerging countries has also been included in the report.

Research Methodology

In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the ultrasound systems market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.

Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.

Need an Exclusive Report for your Unique Requirement?

Talk Show:

The Rise of Intelligent Packaging

Personalized, Connected and Sustainable

November 18, 2021 11:00-11:45 AM PST (USA & Canada)
This is a LIVE session
Future Market Insights MarketNgage Spring

- Our Clients -

Report Client

- Evaluate How Fact.MR's Report Can Help. -

Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

Who are the respondents for primary research?

Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

Is a sample of this report available for evaluation?

Yes, you can request a sample, and it will be sent to you through an email.