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Diagnostic Ultrasound Market size to exceed $10bn by 2030

  • Published Date: October 21, 2022

Diagnostic ultrasound market is set to reach USD 10 billion by 2030, according to a new research report by Global Market Insights Inc.

A significant rise in the prevalence of acute kidney and liver disorders, as well as cancer has increased the importance of early diagnosis. This is prevalent mainly across middle-and low-income nations, owing to a lack of healthcare infrastructure. Consequently, the use of diagnostic tools and devices including diagnostic ultrasounds has surged significantly in such regions, to facilitate effective diagnosis.

Effective detection of abnormalities to increase adoption of 3D & 4D ultrasounds

3D and 4D technology segment held 29% business share in 2021. Advanced scanning using 3D and 4D ultrasounds is performed through high-processing devices that offer high-resolution images in comparison to 2D ultrasounds. The technology can effectively identify abnormalities that are usually left undetected by 2D scans.

Furthermore, 4D ultrasounds offer multiple benefits including effective skeletal diagnosis, improved visualization of fetal heart structures, and detection of defects in neural tubes. These advanced scanning methods also offer live motion images and help in real-time fetus monitoring to identify abnormalities from various angles, thereby increasing product acceptance.

Browse key industry insights spread across 210 pages with 105 market data tables & 15 figures & charts from the report, “Diagnostic Ultrasound Market Analysis By Technology (2D, 3D and 4D, Doppler), Portability (Trolley, Compact/Handheld), Application (General Imaging, Cardiology, Obstetrics/Gynecology), End-use (Hospitals, Maternity Centers), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:

Widespread applicability of handheld ultrasounds to augment market trends

Diagnostic ultrasound market share from the compact/handheld segment was worth USD 1.5 billion in 2021. Handheld ultrasound devices are ultra-portable which increases their adoption for therapeutic and diagnostic procedures. These devices are preferred by a wide range of customers, from cardiologists to emergency medicine physicians. Apart from their portability, compact ultrasound scans provide clear images and detect abdominal aortic aneurysms. Additionally, compact ultrasound systems allow healthcare professionals to view and analyze structures more accurately, further favoring product consumption.

Non-invasiveness of ultrasound method to boost usage in obstetrics & gynecology

Diagnostic ultrasound market from the obstetrics/ gynecology segment is projected to depict 4% CAGR through 2022-2030. Ultrasound devices provide a non-invasive, painless, and safe option to help parents view their unborn child, and even discover the sex in some cases. Furthermore, diagnostic ultrasounds are used across many middle- and low-income nations for identifying anomalies in pregnancies. These devices help in detecting amniocentesis, fetal abnormalities, and chorionic villus sampling, making them ideal imaging options in obstetrics and gynecology applications.

Introduction of healthcare regulatory initiatives to influence industry dynamics in Europe

Europe diagnostic ultrasound market accounted for 26% revenue share in 2021. The rising establishment of R&D units and increase in financial assistance initiatives for the healthcare industry has bolstered the demand for advanced diagnostic devices in the region. The program will contribute to long-term health issues and increase the accessibility of health systems across the European Union. Regulatory initiatives such as these will promote the use of healthcare solutions such as diagnostic ultrasounds over the forthcoming years.

Product approvals from major authorities to expand competitive landscape

Some of the key players operating in the diagnostic ultrasound industry include Canon Medical Systems Corporation, Esaote SpA, Fujifilm Holdings Corporation, General Electric Healthcare, Hologic, Inc., Konica Minolta Inc., Koninklijke Philips N.V., Mindray Medical International Limited, Samsung Electronics Co. Ltd., Siemens Healthineers AG. Companies are receiving product approvals from regulatory bodies which enhances their brand recognition.

Authors: Sumant Ugalmugle, Rupali Swain