Ultrasound devices (world market)

Ultrasound (Ultrasound)

• Ultrasound (Ultrasound)

2024: Portable ultrasound scanner released to assess lung condition

On September 4, 2024, Butterfly Network announced the release of a portable ultrasound scanner iQ3, suitable, among other things, for assessing the condition of the lungs. The device, according to the developer, provides high image quality and advanced 3D capabilities. Read more here

2023

Global Portable Ultrasound Scanner Market Size Up 10% Year-on-Year to $3.88 Billion

In 2023, the global market for portable ultrasound scanners amounted to $3.88 billion. For comparison, a year earlier, expenses in this area were estimated at $3.55 billion. Thus, growth was recorded at 10%. This is stated in a study by Market Research Future, the results of which were published in early September 2024.

The authors of the report identify several key factors that contribute to the development of the industry in question. One is technological advances. For example, 3D- and 4D ultrasound could be used to create more detailed images of the fetus during pregnancy, which could help identify potential abnormalities. Such scans also allow parents to see their child's facial features, facial expressions and observe their life in utero in real time.

The development of more compact ultrasound systems has made them convenient and accessible for use in a variety of settings, such as remote areas and clinics with limited space. Another stimulating factor is the integration of artificial intelligence and machine learning algorithms, which expand the capabilities of equipment. AI tools in particular can be used to analyze ultrasound images and provide guidance to health care providers, helping them make more accurate diagnoses and make optimal treatment decisions. The aging population also contributes to an increase in demand for portable ultrasound devices: as people get older, the number of chronic and age-related diseases that require ultrasound devices to diagnose increases. Additional potential opportunities for compact ultrasound devices are emerging in areas such as telemedicine, home health care, and point-of-care diagnostics.

In 2023, obstetrics and gynecology accounted for the largest share of revenue (about 35%) in the portable ultrasound scanner market, which was due, among other things, to the growing use of such equipment for prenatal observation and minimally invasive procedures. This is followed by cardiology and vascular diseases with a share of about 28% in total revenue. The segment of studies of the abdominal cavity and gastrointestinal tract accounted for about 22%, the sector of the musculoskeletal system - about 10%. Another 5% of revenue was provided by research in the field of urology and nephrology.

The portable ultrasound scanner market by imaging technology is segmented into 2D-, 3D/4D methods, and Doppler imaging. In 2023, more than 50% of revenue fell on the 2D segment: dominance is explained by the wide availability and ease of using this approach. Among the leading players named, Philips Healthcare,, Siemens Healthcare,, Canon Medical Systems, Esaote GE Healthcare Hitachi Medical Systems Edan Samsung Medison Instruments, Shenzhen Mindray BioMedical Electronics, iU2 Imaging, Zonare Medical Systems,, Chison Fujifilm SonoSite Medical Imaging, and. Mindray Geographically, Alpinion Medical Systems it occupies North America the largest share due to the high level of adoption of advanced medical technologies and the presence of major players. Europe is the second largest market, followed by Asia Pacific.

Analysts believe that in the future the industry will develop steadily. The CAGR (compound percentage CAGR) is expected to be 9.51%. As a result, by 2032, the global market for portable ultrasound scanners will rise to $8.8 billion.^[1]

Named 5 main trends in the market of ultrasound devices

As of 2023, the global ultrasound diagnostics market is at the stage of active development. New technologies and devices are emerging, such as ultrasonic patches and wearable sensors, which opens up wider possibilities in terms of ultrasound. This is stated in a report by Signify Research, released in mid-October 2023. Analysts highlight five main trends in the field of ultrasound diagnostics.

1. Rising prices

Despite the good prospects, the global market for ultrasound devices has experienced several difficult periods. Supply chain problems in 2022 have led to delays in lead times. And this provoked an increase in the cost of equipment. On average, prices rose by about 5-10%, but in some regions the growth was up to 20%.

Global Ultrasound Diagnostics Market Is at an Active Stage

2. Chinese manufacturers

Thanks to the production localization policy introduced by the government China in May 2021, local companies have strengthened their positions by squeezing out foreign suppliers. Moreover, manufacturers from the PRC are striving to enter new international markets, focusing primarily on countries Europe and. USA

3. Artificial intelligence

Many manufacturers of ultrasound devices implement AI tools in one form or another, and some suppliers see this as a competitive advantage. However, more AI applications beyond workflow automation are required to develop this segment more effectively.

4. Portable devices

Technical improvements in portable ultrasound devices expand the scope of ultrasound. Such devices are increasingly used in places of medical care, as well as for veterinary purposes. While the market for portable ultrasound devices remained consolidated in 2022, new players are emerging that could make a difference in the future.

5. Local markets

Governments are increasingly seeking to encourage local production of ultrasound systems sold in their country. This policy is designed to support the development of the local health sector and reduce dependence on foreign products. Similar measures are being implemented in China, Indonesia, India, etc.^[2]

2018

Sales of devices for ultrasound of the mammary glands amounted to $1.11 billion - Frost & Sullivan

The global market for ultrasound systems used to examine dairy glands reached $1.11 billion in 2018, according to research company Frost & Sullivan. About 42.7% of such equipment was sold in North America. This data was released on July 8, 2019.

According to experts, the market in question is on the rise, helped by the use of new scanning techniques, machine learning algorithms and deep learning to obtain high-quality images. In addition, the development of digital technologies, such as cloud computing and data analysis tools, which increase the efficiency of ultrasound devices, helps.

Sales of devices for ultrasound of the mammary glands in 2018 are calculated - $1.11 billion

Another market growth factor is due to the fact that manufacturers are actively introducing applications and the most profitable equipment for themselves, which fits the requirements of certain regions.

Frost & Sullivan analyst Purnima Srinivasan says that the launch of automated ultrasound systems for breast examination (ABUS) has expanded the scope of such equipment and led to the development of healthcare that contributes to the growth of manufacturers' business.

Innovations, for example, related to compactness, non-invasiveness and higher availability of technologies, painless diagnostics and other digital capabilities, will further expand the use of ultrasound scanners, the expert is sure.

Frost & Sullivan predicts global sales of breast ultrasound machines will rise to $1.71 billion by 2023. Manufacturers will strive to create solutions that are cost-effective, improve clinical outcomes and save doctors time, the report said.^[3]

Sales of 115,592 devices worth $6.12 billion - Frost & Sullivan

At the end of 2019, the analytical company Frost & Sullivan published some results of a study in which it reported the rapid growth of the ultrasonic apparatus market, which is facilitated by the spread of AI, cloud and portable systems. According to experts, in 2018, 115,592 ultrasound devices were sold worldwide in the amount of $6.12 billion. How much more or less this is relative to 2017 is not specified.

AI-based systems, high-resolution digital systems and portable ultrasound devices were the driving force behind this growth in established markets, while ultrasound and contrast elastography are the main factors in emerging markets. Developing countries (Eastern Europe, India, China and Southeast Asia) are investing in the development of ultrasound systems for clinical use in new sectors - for example, in anesthesiology, endocrinology and the diagnosis of musculoskeletal diseases.

The market for ultrasound scanners for the year was estimated at $6 billion

The adoption of portable and ultra-portable systems, cloud computing and artificial intelligence is expected to drive market growth, creating an environment in which domestic manufacturers can compete with major equipment manufacturers based on the characteristics, prices, and maintenance capabilities of new equipment.

Although access to CT, MRI and radioisotope medicine may be limited in many regions, ultrasound systems remain an important diagnostic tool available worldwide. In addition, the use of ultrasound potentially reduces the costs of the health care system by reducing the need for better and more expensive imaging techniques. Additional growth opportunities include identifying potential markets willing to use portable or ultra-portable devices.

Investors can also create cross-functional partnerships as part of continuous development, expand maintenance opportunities through virtual assistance and online tools, and purposefully serve emerging markets such as emergency medicine.^[4]

Recovery of the Russian market

In mid-January 2018, the analyst company Signify Research, an independent provider of marketing information for the global healthcare technology industry, presented a forecast for 2018 trends in the ultrasound diagnostics market. The study also mentions Russia: the market is recovering from a long-term regression.

Although 2017 has not been set for this area of ​ ​ services, 2018 should justify all promises. The company assumes that the three main geographical markets - Europe, the Middle East and Africa (EMEA), North and South America and Asia - will expand faster than in 2017, and the growth rate of the global ultrasound diagnostics market should grow by 5.1% (in 2017 it amounted to 3.2%).

2018 Ultrasound Market Forecast, Signify Research Data

After a serious economic downturn over the past few years, the Russian ultrasound diagnostics market has begun to gradually restore growth. This is due to an increase in the share of public funding amid rising oil and gas prices and the expansion of the private sector. It is expected that this year the Russian market will develop steadily at a fairly high speed.

In the countries of the near abroad, the situation is not so smooth, and with a decrease in the level of investment in healthcare projects, the market is expected to slow down, but in the countries of Eastern Europe it will still be higher than in the Western European market.

But the Indian market will develop at a very fast pace in 2018, which is facilitated by the government's efforts to expand the healthcare sector, increase private sector spending and grow the medical tourism industry. India's overall health budget was increased by 22% in 2017, although most of these funds were for salaries and personnel education rather than infrastructure development and equipment procurement.

At the same time, it is worth noting that the US market in 2017 almost did not develop due to reduced government spending and a decrease in the pace of purchases in the private sector. The Trump administration's policies have led to an uncertain market situation, with many health care providers delaying decisions on large purchases. However, the change in the economic course has led to the fact that in 2018 demand for medical equipment is expected to increase, which will be from 3% to 4%.^[5]

2015

Handheld segment volume of $1.39 billion

In mid-May 2016, the analytical company P&S Market Research released the results of a study of the global market for portable equipment for ultrasound diagnostics of patients. These devices are in greatest demand in Europe.

According to P&S Market Research, sales of portable ultrasound devices on a global scale reached $1.39 billion in 2015. Experts predict that in the period from 2016 to 2022 this market will increase in volume by an average of 8.8% per year.

Global sales of portable ultrasound devices amounted to $1.39 billion in 2015

The growing demand for non-stationary ultrasound solutions at P&S Market Research is attributed to increased medical costs worldwide, an increased proportion of people in age, and improved healthcare infrastructure in developing countries. One of the factors hindering the development of this market is the strict requirements for certification of equipment by regulators.

In 2015, the largest sales of portable ultrasound devices fell on Europe. However, from 2016 to 2022, the Asia-Pacific region will lead in terms of growth dynamics, where sales will rise by an average of 9.5% annually, the study said.

Analysts called hand-held devices the fastest growing segment of the portable ultrasound equipment market: here the total revenue of manufacturers will grow by 13.1% annually in 2016-2022, P&S Market Research expects.^[6]

Volume of $6.8 billion

In May 2016, the analytical company Grand View Research published the results of a study of the market for ultrasound equipment (ultrasound).

The volume of sales of such devices on a global scale reached $6.8 billion in 2015. The largest share of the market under consideration came from diagnostic sonography machines due to their widespread use in obstetrics, radiology and oncology. Such devices sold $2.85 billion in 2015. In 2024, sales will be measured at $4.77 billion due to the growing demand for scanners for advanced diagnostics, researchers predict.

Japanese ultrasound device market, Grand View Research forecast for the period 2014-2024 ($ million)

They also expect an increase in sales of portable ultrasound scanners - by 6.4% from 2016 to 2024 to $3.9 billion. Analysts cite the development of remote medicine and home health services as the main factors contributing to this rise.

Grand View Research ranks the following companies among the largest manufacturers of ultrasound equipment:

• Toshiba Medical Systems
• SonaCare Medical
• Analogic
• GE Healthcare
• Philips Healthcare
• Siemens Healthcare
• Hitachi Medical
• Samsung Medison
• Mindray Medical International

A huge number of global and local players work in the market of ultrasound devices. Their number will increase as new technologies develop, including cloud and software systems for connecting equipment to smartphones and tablets, analysts say.

As for the regions, the largest sales of ultrasound scanners in 2015 fell on North America - more than 25% of the global value. At the same time, experts predict the highest growth dynamics in the Asia-Pacific region - by 9.6% annually from 2016 to 2024.^[7]

See also

Notes