Medical Ultrasound Equipment Market Analysis | 2022-2028

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.

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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.

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

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?

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 [email protected].