Ultrasound Devices Market size is poised to cross USD 15 Billion by the end of 2035, growing at a CAGR of 5% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of ultrasound devices was over USD 9 Billion. The growth of the market can be attributed to the rising need for ultrasound reports by medical practitioners to gain valuable information for diagnoses and treatment. The device also helps in examining an unborn child in pregnant women. Moreover, according to data published by Beth Israel Deaconess Medical Centre, most healthy women receive at least two ultrasound scans in their overall pregnancy period which is one of the prominent reasons for the growing demand for ultrasound devices. It is found that on average, every minute approximately 250 babies are born across the globe.The rising prevalence of various diseases worldwide as well as the growing number of patients along with the surge in the number of diagnostic centers worldwide are major factors expected to boost the market in the forecasted period.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
5% |
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Base Year Market Size (2022) |
USD 9 Billion |
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Forecast Year Market Size (2035) |
USD 15 Billion |
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Regional Scope |
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End-user (Hospitals, Clinics, Research Centers)
The global ultrasound devices market is segmented and analyzed for demand and supply by end-user in hospitals, clinics, and research centers. Out of these segments, the hospital segment is anticipated to hold a notable share in the global ultrasound devices market by 2035, on account of rising patient flow in hospitals worldwide, driving the need for more hospitals equipped with the latest medical equipment & technology. The National Centre for Biotechnology Information states that 1 in 3 adults is suffering from multiple chronic conditions, which is one of the most common reasons that hospitals are witnessing unprecedented patient flow.
Our in-depth analysis of the global market includes the following segments:
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By Application |
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By Technology |
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By End-User |
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Asia Pacific Market Forecast
The Asia Pacific market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035, on the back of the growing expenditure on healthcare infrastructure owing to the rising need for healthcare facilities in the region with the burgeoning population. The region consists of highly populous nations such as China and India. According to the data, every day more than 65,000 babies are born in India. Therefore, the global ultrasound device market in the Asia Pacific region is projected to grow significantly during the forecast period.
Siemens Healthcare GmbH – along with Penta Hospitals International announced a valued partnership to enhance healthcare in Slovakia.
Koninklijke Philips N.V. - joins hands with DiA Imaging Analysis for enhancing ultrasound with AI-based image quantification.
Author Credits: Radhika Gupta, Shivam Bhutani
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