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    Medical Ultrasound Equipment Market Growth Analysis

    Medical Ultrasound Equipment Market Growth Analysis
    Report code - SR1474 Delivery - 2 Weeks
    Medical Ultrasound Equipment Market Size, Share, Growth, Forecast, & Industry Analysis See more...

    Market Insights

    The Medical Ultrasound Equipment Market is valued at USD 7.24 billion in 2021 to reach USD 10.96 billion by 2028, registering a CAGR of 6.06% during the forecast period.

    Medical Ultrasound Equipment Market Size

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    What is medical ultrasound?

    Medical ultrasound also called ultrasonography or diagnostic sonography may be a technique supported the appliance of ultrasound to visualise internal body structures like tendons, muscles, blood vessels, and others. Ultrasound devices are defined as imaging machines that use sound waves to come up with images of internal body structures to seek out the source of a specific disease or malfunction in several body parts.

    Medical Ultrasound Equipment Market Report Overview

    Market Size in 2028

    USD 10.96 billion

    Market Size in 2021

    USD 7.24 billion

    Market Growth (2022-2028)

    6.60 CAGR

    Base Year of Study

    2021

    Trend Period

    2016-2020

    Forecast Period

    2022-2028

    Key Players

    Key players operating in the medical ultrasound equipment market are-

    • General Electric Company (US)
    • Koninklijke Philips N.V. (Netherlands)
    • Siemens AG (Germany)
    • Toshiba Corporation (Japan)
    • Hitachi Medical Corporation (Japan)
    • Mindray Medical International Limited (China)
    • Fujifilm SonoSite (US)
    • Esaote SpA (Italy)
    • Samsung Medison Co., Ltd. (South Korea)
    • Konica Minolta, Inc. (Japan)
    • SonoScape Medical Corp (China)
    • Edan Instruments Inc. (China)

    Market Dynamics

    The growth of the medical ultrasound equipment market is primarily driven by:

    • Widespread use in applications including cardiology, radiology, and obstetrics & gynecology among others.
    • Increasing prevalence of chronic diseases due to changing lifestyles and unhealthy eating habits.
    • In addition, rising demand for advanced technologies in the healthcare industry is expected to create lucrative opportunities for the players operating in the global medical ultrasound equipment market in the coming years.

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    Segment Analysis

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

    The market is segmented into the following categories-

    By Type

    • 2D
    • 3D
    • 4D
    • Doppler

    By Application Type

    • Radiology/Oncology
    • Cardiology
    • Obstetrics & Gynecology
    • Mammography/Breast
    • Emergency Medicine
    • Other

    By End-Use Type

    • Hospital
    • Clinic
    • Home Care

    By Region

    • North America
    • APAC
    • Europe 
    • Rest of the World

    End-Use Trends

    The market has been bifurcated into hospital, clinic, and home care. The hospital segment accounted for the largest market share in 2021 and is projected to register significant growth during the review period. The segment growth can be attributed to the presence of required infrastructure and skilled staff.

    Regional Analysis

    The North American market accounted for the largest market share in 2021 and is projected to grow at a robust CAGR during the review period. This can be attributed to rising healthcare expenditure and early adoption of advanced healthcare technologies in the healthcare industry coupled with the presence of key market players such as General Electric Company (US) and Fujifilm SonoSite (US). The market growth in Asia-Pacific is expected to be driven by the rising number of people suffering from chronic diseases coupled with increasing investment in R&D activities in healthcare.

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    Target Audience

    Here is the list of the group of customers that the medical ultrasound equipment market hopes to have the greatest opportunity to convert-

    • Distributors
    • Suppliers
    • Manufacturers
    • Logistics organizations
    • Government bodies

    COVID-19 Impact

    The COVID-19 outbreak adversely affected the market growth of the medical ultrasound equipment industry due to the shift of medical treatment for cancer and other diseases to rising coronavirus-affected patients. Patients suffering from cancer were asked to postpone their surgery due to a rapid surge in COVID-19 cases across the globe. 

    Critical Questions Answered in the Report

    • What are the key trends in the market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of COVID-19 on the market?
    • What are the key strategies adopted by the major vendors to lead in the market?
    • What is the market share of the top vendors?

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What deliverables will you get in this report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth analysis of the Medical Ultrasound Equipment Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional and country level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    Medical ultrasound also called ultrasonography or diagnostic sonography may be a technique supported the appliance of ultrasound to visualise internal body structures like tendons, muscles, blood vessels, and others. Ultrasound devices are defined as imaging machines that use sound waves to come up with images of internal body structures to seek out the source of a specific disease or malfunction in several body parts.

    The market is projected to grow from USD 7.24 billion in 2021 to USD 10.96 billion by 2028.

    The market is expected to witness an impressive growth of 6.06% CAGR in the coming years.

    General Electric Company (US) Koninklijke Philips N.V. (Netherlands) Siemens AG (Germany) Toshiba Corporation (Japan) Hitachi Medical Corporation (Japan) Mindray Medical International Limited (China) Fujifilm SonoSite (US) Esaote SpA (Italy) Samsung Medison Co., Ltd. (South Korea) Konica Minolta, Inc. (Japan) SonoScape Medical Corp (China) Edan Instruments Inc. (China)

    The north american market accounted for the largest market share in 2021.

    The growth of the medical ultrasound equipment market is primarily driven by widespread use in applications including cardiology, radiology, and obstetrics & gynecology among others. The increasing prevalence of chronic diseases due to changing lifestyles and unhealthy eating habits are likely to drive the market growth at a significant rate during the review period. In addition to this, rising demand for advanced technologies in the healthcare industry is expected to create lucrative opportunities for the players operating in the global medical ultrasound equipment market in the coming years.

    The hospital segment accounted for the largest market share in 2021 and is projected to register significant growth during the review period.