The global ultrasound devices market is projected to grow at a CAGR of 4.73% from USD 7.2 billion in 2021 to USD 9.5 billion by 2027, driven by a rise in the prevalence of chronic disorders such as cancer tumors, gallstones, fatty liver disease, and high spending on the healthcare industry. Increased awareness of early disease diagnosis and technological advancements in ultrasound imaging devices are also contributing significantly to market growth.
These are the latest findings of Research and Markets (Dublin, Ireland), a provider of market research reports.
Over the decades, ultrasound use has expanded beyond radiology, OB/GYN and cardiology to a wide range of clinical specialties, including surgery, gastroenterology and musculoskeletal. Ultrasound is one of the medical industry's various medical imaging modalities; it has recently experienced a revolution due to modern electronics' increasing computer power. It is described as a device that captures the internal organ images using high-frequency sound waves. Ultrasound devices consist of an ultrasound detector or probe and transducer.
The increasing number of pregnancies has generated demand for diagnostic ultrasound systems. It is one of the standard effective and dynamic imaging technologies used in pregnancy to monitor the growth and development of the fetus. There are also several other uses of diagnostic ultrasound systems, including monitoring the growth and development of blood vessels, imaging the heart, eyes, thyroid, brain, breast, abdominal organs, skin, and muscles.
Based on image display, color ultrasound devices hold the highest market due to an increase in technological advancements, rising incidence of chronic diseases, surge in the number of diagnostic ultrasound devices in the obstetrics and gynecology field, and increase in awareness of early disease diagnosis.
Based on application, the critical care segment holds the largest market share due to the rising prevalence of chronic diseases. The number of patients needing emergency care due to various health ailments such as urology problems, acute abdominal pain and immense chest pain would drive the demand for critical care devices. Further, the radiology application is one of the leading segments, owing to the growing number of radiology centers and increasing adoption of this technology in general imaging and diagnosis of medical complications.
Geographically, North American leads the global ultrasound devices market due to a large number of healthcare providers, government and private funding for R&D in ultrasound imaging, rising geriatric population, and increasing incidence of chronic diseases in the region.
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