Diagnostic Ultrasound Market Size By Technology (2D, 3D and 4D, Doppler), By Portability (Trolley, Compact/Handheld), By Application (General Imaging, Cardiology, Obstetrics/Gynecology), By End use (Hospitals, Maternity Centers), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027

Industry trends

Diagnostic Ultrasound Market size surpassed USD 6.7 billion in 2020 and is expected to witness over 4.4% CAGR between 2021 to 2027. The growing prevalence of chronic diseases and increasing birth rate are some of the major factors to facilitate the market growth. Additionally, rapid innovations and technological advancements in diagnostic ultrasound devices are propelling the market expansion.
 

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The impact of COVID-19 on the market has been moderate. During the initial phases of the pandemic, the sales of stationary ultrasound systems dropped drastically. At the same time, the demand for compact and handheld ultrasound systems grew significantly due to its usage in lung assessment and subsequent monitoring of COVID-19 patients. The usage of compact diagnostic ultrasound grew even though the WHO and CDC had not recommended the use of ultrasound as a primary diagnostic imaging tool for COVID-19 detection.
 

Rising birth rate in Asian countries will create demand for diagnostic ultrasound systems

Rising birth rate is one of the major factors that are driving the market progression. For instance, the global population is anticipated to increase to 9.7 billion by 2050. This represents a 24% increase compared to the world population in 2020. India to see a dramatic surge in its population size than any other country between 2021 and 2050. The rising birth rate will create the demand for obstetric and gynaecological services.

The increasing number of pregnancies will generate demand for diagnostic ultrasound systems, as it is one of the most effective and efficient imaging technologies used in pregnancy to check the health and development of the baby and screening abnormalities in the fetus. Also, physicians prefer ultrasound over other imaging techniques as it does not use ionizing radiation and has no known harmful effects.
 

Increasing use of doppler systems will boost the diagnostic ultrasound market demand

Doppler segment captured around 34% of the market share in 2020 led by its increased demand in diagnosing chronic cardiovascular conditions. The doppler echocardiogram helps in screening the abnormalities in the heart valves efficiently. Moreover, doppler ultrasound is used in high-risk pregnancies.
 

Owing to a sedentary lifestyle, most pregnant women suffer from high blood pressure, obesity, diabetes, epilepsy, and thyroid disease. These factors lead to complications in pregnancy. Doppler ultrasound is used in such cases to detect the movement of blood in vessels and study blood circulation in the baby, uterus, and placenta to avoid any complications during birth. Increasing applications of doppler ultrasound and its growing usage will promote the segment growth.
 

Growing demand for portable ultrasound devices to supporting the compact/handheld ultrasound device market value

The compact/handheld segment was valued at USD 1.7 billion in 2020 on account of its increasing use due to the compactness and convenience in use in case of bedridden and severely ill patients. Furthermore, portability increases device usability in various healthcare settings such as hospitals, remote healthcare settings, and ambulatory care centers.
 

In addition, handheld devices help physicians in quick patient examination and initial screening. Increased use by office-based physicians in various medical specialties, such as urology, and gastroenterology has created high demand for handheld ultrasound devices, thus fostering the business growth.
 

Rising prevalence of cardiac diseases will stimulate the overall diagnostic ultrasound market revenue

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The cardiology segment held around 19.2% of revenue share in 2020 driven by the increasing usage of diagnostic ultrasound in cardiovascular disease diagnosis. The burden of cardiac diseases is increasing in developed as well as developing regions. Diagnostic ultrasound devices, along with other diagnostic tools play a crucial role in the timely diagnosis of arterial blockages and other cardiovascular problems. Also, the non-invasive nature of the cardiac ultrasound procedure with no known side effects is the biggest advantage that augments its demand.
 

High investments in medical devices and advanced medical infrastructure in hospitals will accelerate the industry growth

The hospital segment dominated more than 50% of the market share in 2020 impelled by the increasing demand for minimally invasive procedures and high investment in advanced medical devices and healthcare infrastructure. The rising number of hospitals will generate demand for advanced medical devices including diagnostic ultrasound devices, thus spurring the industry expansion.
 

Increased funding for the advancement of medical devices in North America to enhance the industry progression

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North America diagnostic ultrasound market accounted for over 34% of revenue share in 2020 owing to the rising prevalence of chronic diseases in the region. Additionally, the technological advancements fueled by government and private funding, and the presence of established key leaders such as GE Healthcare, Siemens, and Philips are poised to propel the industry demand.
 

Presence of numerous companies developing advanced ultrasound systems will boost the market expansion

Some of the prominent players operating in the market include GE Healthcare, Koninklijke Philips N.V., Siemens Healthineers AG, FUJIFILM Holdings Corporation, Canon Medical Systems Corporation, Mindray Medical International Limited, Samsung Electronics Co. Ltd., Konica Minolta Inc., ESAOTE SPA, and Hologic, Inc. These market participants are implementing various growth strategies to sustain competition in the industry.
 

The market research report on diagnostic ultrasound includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2027, for the following segments:

Market, By Technology, 2016-2027 (USD Million)

• 2D
• 3D and 4D
• Doppler

Market, By Portability, 2016-2027 (USD Million)

• Trolley
• Compact/Handheld

Market, By Application, 2016-2027 (USD Million)

• General Imaging
• Cardiology
• Obstetrics/Gynecology
• Others

Market, By End-use, 2016-2027 (USD Million)

• Hospitals
• Maternity Centers
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • Saudi Arabia
  • South Africa