Ultrasound Probes Market Analysis

Ultrasound Probes Market Analysis

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Based on product, the market is divided into probe, software & services, and accessories. The probe segment is further bifurcated into linear probe, convex probe, phased array/cardiac probe, transesophageal (TEE) probe, endocavitary probe, cerebrovascular doppler, and other probes. The probe segment is estimated to account for USD 2.8 billion by the end of 2032.

• This surge is driven by several key factors, including continuous technological advancements that have enhanced probe efficiency and imaging capabilities.

   

• The rising adoption of point-of-care ultrasound (POCUS) in various clinical settings, fueled by its portability and real-time imaging capabilities, is contributing to increased demand.

   

• Furthermore, the shift towards minimally invasive procedures, guided by ultrasound technology, is driving the demand for ultrasound probes across diverse medical specialties.

Based on application, the ultrasound probes market is bifurcated into musculoskeletal, oncology, cardiovascular, obstetrics & gynecology, general imaging, and other applications. The general imaging segment accounted for USD 1 billion in 2023.

• The general imaging application encompasses a wide range of medical conditions and diagnostic needs, making it a versatile and indispensable tool for healthcare providers. From abdominal scans to evaluating soft tissue structures, the general imaging application caters to a diverse array of patient cases, thereby driving its demand.

   

• For instance, ultrasound probes have been extensively used for lung imaging, particularly in the diagnosis and monitoring of COVID-19 pneumonia. They provide real-time imaging of lung tissue, allowing healthcare professionals to assess the severity of lung involvement and monitor disease progression. This has been invaluable in triaging patients and making timely treatment decisions.

   

• Thus, such aforementioned factors are expected to augment the segmental growth.

   

Based on end-use, the ultrasound probes market is bifurcated into hospitals and clinics, diagnostic centers, ambulatory surgical centers, and other end-users. The hospitals and clinics companies segment accounted for USD 1.6 billion in 2023.

• Hospitals and clinics typically receive a significant portion of healthcare expenditure in many countries. As healthcare spending has been on the rise globally, more funds are allocated towards hospital infrastructure and medical equipment procurement, including ultrasound probes.

   

• Their versatility, non-invasive nature, and real-time imaging features make them invaluable assets for diagnostic examinations, guiding interventions, and patient monitoring within hospital settings.

   

• Moreover, increasing awareness among healthcare providers and patients about the benefits of ultrasound imaging further drives its adoption in hospitals and clinics, solidifying the segment's significant contribution to the market.

The ultrasound probes market in North America accounted for a significant market share of 40.8% in 2023, and this trajectory is set to continue upwards.

• The surge is primarily fueled by the rising incidence of chronic ailments such as cancer cardiovascular diseases, and diabetes. For instance, heart disease stands as the primary cause of mortality across various demographics in the U.S., affecting both men and women from diverse racial and ethnic backgrounds.

   

• Statistics from the Centers for Disease Control and Prevention (CDC) reveal that cardiovascular disease claims a life in the U.S. approximately every 33 seconds. In 2021 alone, around 695,000 individuals in the U.S. succumbed to heart disease, translating to one out of every five deaths.

   

• Thus, as the population ages and chronic disease rates continue to rise, the demand for ultrasound probes is expected to grow steadily in the region.

   

UK is anticipated to witness robust growth in the global ultrasound probes market.

• The aging population in the UK is driving the demand for healthcare services, including diagnostic imaging procedures. With the elderly population more prone to various health conditions requiring medical imaging, the demand for ultrasound probes is expected to grow significantly.

   

China ultrasound probes market is anticipated to witness lucrative growth between 2024 – 2032.

• China has been investing significantly in upgrading its healthcare infrastructure, aiming to provide advanced medical services to its vast population. This includes the integration of cutting-edge diagnostic technologies such as ultrasound systems, driving the demand for ultrasound probes in the country.

   

South Korea ultrasound probes market is expected to grow significantly over the years.

• South Korea has been consistently increasing its healthcare expenditure, reflecting a growing emphasis on improving healthcare infrastructure and services. As healthcare facilities expand and upgrade their equipment, there's a parallel surge in the demand for ultrasound probes to support diagnostics and monitoring across various medical specialties.