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Report Scope & Overview:

The Ultrasound Equipment Market size was valued at $8.30 Bn in 2022 and is expected to reach $14.80 Bn by 2030 and grow at a CAGR of 7.2% over the forecast period of 2023-2030.

Medical equipment utilised for diagnostic imaging is referred to as ultrasound equipment. These tools create real-time photographs of internal human body structures using high-frequency sound waves. Sonography, another name for ultrasound imaging, is a non-invasive procedure that is frequently utilised in a variety of medical disciplines.

Ultrasound Equipment Market Revenue Analysis

The transducer is a portable gadget that transmits and receives sound waves. It transforms sound waves from electrical energy and the other way around. For particular applications like abdominal, cardiac, obstetric, or vascular imaging, several transducers are created.

The control panel enables the operator to change the depth, focus, gain, and image optimisation settings and parameters of the ultrasound examination. The operator of the ultrasound machine can enter orders and change settings using a keyboard and a variety of controls. These controls could consist of knobs, buttons, a trackball, or a touchpad. Modern ultrasound equipment frequently feature the ability to electronically store patient data and images that have been obtained. In order to enable data sharing and remote consultations, they can also be connected to a network. Some ultrasound devices include a built-in printer to print out ultrasound images on paper. When making physical records or sharing photographs with patients or other healthcare providers, this function is especially helpful.

Market Dynamics :

Driver

  • The benefits associated with the ultrasound equipment.

Healthcare practitioners can view and evaluate internal structures in real-time thanks to the unique diagnostic capabilities of ultrasound equipment. Ultrasound is a useful diagnostic Application for a range of medical diseases because it allows non-invasive examination of organs, tissues, and blood flow. Use of ultrasound technology is greatly influenced by the potential for early disease detection and monitoring.

Restrain

  • The limited access in certain cases.

Opportunity

  • The rising technological advancement in the healthcare industry

The functionality of ultrasound devices has been improved, the image quality has increased, and processing times have sped up. The creation of more sophisticated transducers, upgraded imaging algorithms, and the incorporation of features like 3D/4D imaging, elastography, and contrast-enhanced imaging are a few examples of these developments. The development and use of ultrasound technology are both still being driven by technological advancements.

Challenge

  • The need of skilled professionals.

Impact of Russia-Ukraine War :

Hospitals, clinics, and other healthcare facilities may sustain damage as a result of the war. The availability and efficiency of ultrasound equipment in certain places may be directly impacted by this damage. Due to the conflict environment, repairing or replacing damaged equipment may be difficult.

In conflict-affected areas, access to the most recent developments in ultrasound technology may be restricted. The availability of state-of-the-art ultrasound machines in places afflicted by armed conflict may be reduced if manufacturers give priority to selling equipment to regions with reliable infrastructure and markets. Healthcare professionals might be forced to use outdated or less sophisticated equipment.     

Impact of Recession :

Due to economic downturns, job losses, or decreased earnings, people and healthcare facilities may have less purchasing power during a recession. As healthcare providers focus their spending on necessary goods and services, this may result in a drop in the demand for new ultrasound equipment.

Healthcare facilities frequently set aside money in their budgets for capital expenditures, which might include the acquisition of medical equipment like ultrasound machines. Healthcare organisations may delay or scale back capital investments during a recession in order to conserve funds and lower financial risks. This can slow down the purchase of new ultrasound technology.

Market Segmentation :

By Product

  • Compact

  • Table-Top

By Application

  • Radiology

  • Cardiology

  • Surgery

  • Point of Care

By End User

  • Hospitals

  • Clinics

Ultrasound Equipment Market Segmentation Analysis

Regional Analysis :

One of the biggest markets for ultrasound equipment is in North America due to the developed healthcare system and high cost of healthcare. The market is dominated by the United States, where there is a high demand for cutting-edge diagnostic imaging technology. High adoption rates of technologically advanced ultrasound equipment, such as 3D/4D imaging and portable devices, define the industry.

APAC is the region with the highest growth rate because of the rising technological advancement and the development in the infrastructure.

Key Players

The major key players are GE Healthcare, Hitachi, Siemens healthcare, Samsung Medison, Esaote, Canon Medical Systems Corporation, and others.

Hitachi-Company Financial Analysis

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Recent Development :

GE Healthcare : The company has integrated the advanced AIR technologies with the SIGNA PET/MR AIR system and is set to unveil the new system at SNMMI annual meeting 2023.

Samsung Medison : The company has announced its new products and solutions of Obstetrics and Gynecology at WCFM 2023.

Ultrasound Equipment Market Report Scope:
Report Attributes Details
Market Size in 2022  US$ 8.30 Bn
Market Size by 2030  US$ 14.80 Bn
CAGR   CAGR of 7.2 % From 2023 to 2030
Base Year  2022
Forecast Period  2023-2030
Historical Data  2020-2021
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Product (Compact, Table-Top)
• By Application (Radiology, Cardiology, Surgery, Point of Care)
• By End User (Hospitals, Clinics)
Regional Analysis/Coverage North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America)
Company Profiles GE Healthcare, Hitachi, Siemens healthcare, Samsung Medison, Esaote, Canon Medical Systems Corporation
Key Drivers • The benefits associated with the ultrasound equipment.
Market Restraints • The limited access in certain cases.

 

Frequently Asked Questions

Ans:  The Ultrasound Equipment Market is expected to grow at a CAGR of 7.2 %.

Ans: The Ultrasound Equipment Market size was valued at $8.30 Bn in 2022 and is expected to reach $14.80 Bn by 2030 and grow at a CAGR of 7.2% over the forecast period of 2023-2030.

Ans: The benefits associated with the ultrasound equipment.

Ans: The limited access in certain cases.

Ans: North America overtook other regional markets as the largest market for Ultrasound Equipment, with the highest revenue share.  

Table of Contents

1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges

4. Impact Analysis
4.1 Impact of Russia-Ukraine war
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World

5. Value Chain Analysis

6. Porter’s 5 forces model

7. PEST Analysis

8. Ultrasound Equipment Market, By Product
8.1 Compact
8.2 Table-Top

9. Ultrasound Equipment Market By Application
9.1 Radiology
9.2 Cardiology
9.3 Surgery
9.4 Point of Care

10. Ultrasound Equipment Market, By End User
10.1 Hospitals
10.2 Clinics

11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 North America Ultrasound Equipment Market by Country
11.2.2North America Ultrasound Equipment Market by Product
11.2.3 North America Ultrasound Equipment Market by Application
11.2.4 North America Ultrasound Equipment Market by End User
11.2.5 USA
11.2.5.1 USA Ultrasound Equipment Market by Product
11.2.5.2 USA Ultrasound Equipment Market by Application
11.2.5.3 USA Ultrasound Equipment Market by End User
11.2.6 Canada
11.2.6.1 Canada Ultrasound Equipment Market by Product
11.2.6.2 Canada Ultrasound Equipment Market by Application
11.2.6.3 Canada Ultrasound Equipment Market by End User
11.2.7 Mexico
11.2.7.1 Mexico Ultrasound Equipment Market by Product
11.2.7.2 Mexico Ultrasound Equipment Market by Application
11.2.7.3 Mexico Ultrasound Equipment Market by End User
11.3 Europe
11.3.1 Eastern Europe
11.3.1.1 Eastern Europe Ultrasound Equipment Market by country
11.3.1.2 Eastern Europe Ultrasound Equipment Market by Product
11.3.1.3 Eastern Europe Ultrasound Equipment Market by Application
11.3.1.4 Eastern Europe Ultrasound Equipment Market by End User
11.3.1.5 Poland
11.3.1.5.1 Poland Ultrasound Equipment Market by Product
11.3.1.5.2 Poland Ultrasound Equipment Market by Application
11.3.1.5.3 Poland Ultrasound Equipment Market by End User
11.3.1.6 Romania
11.3.1.6.1 Romania Ultrasound Equipment Market by Product
11.3.1.6.2 Romania Ultrasound Equipment Market by Application
11.3.1.6.4 Romania Ultrasound Equipment Market by End User
11.3.1.7 Turkey
11.3.1.7.1 Turkey Ultrasound Equipment Market by Product
11.3.1.7.2 Turkey Ultrasound Equipment Market by Application
11.3.1.7.3 Turkey Ultrasound Equipment Market by End User
11.3.1.8 Rest of Eastern Europe
11.3.1.8.1 Rest of Eastern Europe Ultrasound Equipment Market by Product
11.3.1.8.2 Rest of Eastern Europe Ultrasound Equipment Market by Application
11.3.1.8.3 Rest of Eastern Europe Ultrasound Equipment Market by End User
11.3.2 Western Europe
11.3.2.1 Western Europe Ultrasound Equipment Market by Country
11.3.2.2 Western Europe Ultrasound Equipment Market by Product
11.3.2.3 Western Europe Ultrasound Equipment Market by Application
11.3.2.4 Western Europe Ultrasound Equipment Market by End User
11.3.2.5 Germany
11.3.2.5.1 Germany Ultrasound Equipment Market by Product
11.3.2.5.2 Germany Ultrasound Equipment Market by Application
11.3.2.5.3 Germany Ultrasound Equipment Market by End User
11.3.2.6 France
11.3.2.6.1 France Ultrasound Equipment Market by Product
11.3.2.6.2 France Ultrasound Equipment Market by Application
11.3.2.6.3 France Ultrasound Equipment Market by End User
11.3.2.7 UK
11.3.2.7.1 UK Ultrasound Equipment Market by Product
11.3.2.7.2 UK Ultrasound Equipment Market by Application
11.3.2.7.3 UK Ultrasound Equipment Market by End User
11.3.2.8 Italy
11.3.2.8.1 Italy Ultrasound Equipment Market by Product
11.3.2.8.2 Italy Ultrasound Equipment Market by Application
11.3.2.8.3 Italy Ultrasound Equipment Market by End User
11.3.2.9 Spain
11.3.2.9.1 Spain Ultrasound Equipment Market by Product
11.3.2.9.2 Spain Ultrasound Equipment Market by Application
11.3.2.9.3 Spain Ultrasound Equipment Market by End User
11.3.2.10 Netherlands
11.3.2.10.1 Netherlands Ultrasound Equipment Market by Product
11.3.2.10.2 Netherlands Ultrasound Equipment Market by Application
11.3.2.10.3 Netherlands Ultrasound Equipment Market by End User
11.3.2.11 Switzerland
11.3.2.11.1 Switzerland Ultrasound Equipment Market by Product
11.3.2.11.2 Switzerland Ultrasound Equipment Market by Application
11.3.2.11.3 Switzerland Ultrasound Equipment Market by End User
11.3.2.1.12 Austria
11.3.2.12.1 Austria Ultrasound Equipment Market by Product
11.3.2.12.2 Austria Ultrasound Equipment Market by Application
11.3.2.12.3 Austria Ultrasound Equipment Market by End User
11.3.2.13 Rest of Western Europe
11.3.2.13.1 Rest of Western Europe Ultrasound Equipment Market by Product
11.3.2.13.2 Rest of Western Europe Ultrasound Equipment Market by Application
11.3.2.13.3 Rest of Western Europe Ultrasound Equipment Market by End User
11.4 Asia-Pacific
11.4.1 Asia-Pacific Ultrasound Equipment Market by country
11.4.2 Asia-Pacific Ultrasound Equipment Market by Product
11.4.3 Asia-Pacific Ultrasound Equipment Market by Application
11.4.4 Asia-Pacific Ultrasound Equipment Market by End User
11.4.5 China
11.4.5.1 China Ultrasound Equipment Market by Product
11.4.5.2 China Ultrasound Equipment Market by End User
11.4.5.3 China Ultrasound Equipment Market by Application
11.4.6 India
11.4.6.1 India Ultrasound Equipment Market by Product
11.4.6.2 India Ultrasound Equipment Market by Application
11.4.6.3 India Ultrasound Equipment Market by End User
11.4.7 Japan
11.4.7.1 Japan Ultrasound Equipment Market by Product
11.4.7.2 Japan Ultrasound Equipment Market by Application
11.4.7.3 Japan Ultrasound Equipment Market by End User
11.4.8 South Korea
11.4.8.1 South Korea Ultrasound Equipment Market by Product
11.4.8.2 South Korea Ultrasound Equipment Market by Application
11.4.8.3 South Korea Ultrasound Equipment Market by End User
11.4.9 Vietnam
11.4.9.1 Vietnam Ultrasound Equipment Market by Product
11.4.9.2 Vietnam Ultrasound Equipment Market by Application
11.4.9.3 Vietnam Ultrasound Equipment Market by End User
11.4.10 Singapore
11.4.10.1 Singapore Ultrasound Equipment Market by Product
11.4.10.2 Singapore Ultrasound Equipment Market by Application
11.4.10.3 Singapore Ultrasound Equipment Market by End User
11.4.11 Australia
11.4.11.1 Australia Ultrasound Equipment Market by Product
11.4.11.2 Australia Ultrasound Equipment Market by Application
11.4.11.3 Australia Ultrasound Equipment Market by End User
11.4.12 Rest of Asia-Pacific
11.4.12.1 Rest of Asia-Pacific Ultrasound Equipment Market by Product
11.4.12.2 Rest of Asia-Pacific Ultrasound Equipment Market by Application
11.4.12.3 Rest of Asia-Pacific Ultrasound Equipment Market by End User
11.5 Middle East & Africa
11.5.1 Middle East
11.5.1.1 Middle East Ultrasound Equipment Market by country
11.5.1.2 Middle East Ultrasound Equipment Market by Product
11.5.1.3 Middle East Ultrasound Equipment Market by Application
11.5.1.4 Middle East Ultrasound Equipment Market by End User
11.5.1.5 UAE
11.5.1.5.1 UAE Ultrasound Equipment Market by Product
11.5.1.5.2 UAE Ultrasound Equipment Market by Application
11.5.1.5.3 UAE Ultrasound Equipment Market by End User
11.5.1.6 Egypt
11.5.1.6.1 Egypt Ultrasound Equipment Market by Product
11.5.1.6.2 Egypt Ultrasound Equipment Market by Application
11.5.1.6.3 Egypt Ultrasound Equipment Market by End User
11.5.1.7 Saudi Arabia
11.5.1.7.1 Saudi Arabia Ultrasound Equipment Market by Product
11.5.1.7.2 Saudi Arabia Ultrasound Equipment Market by Application
11.5.1.7.3 Saudi Arabia Ultrasound Equipment Market by End User
11.5.1.8 Qatar
11.5.1.8.1 Qatar Ultrasound Equipment Market by Product
11.5.1.8.2 Qatar Ultrasound Equipment Market by Application
11.5.1.8.3 Qatar Ultrasound Equipment Market by End User
11.5.1.9 Rest of Middle East
11.5.1.9.1 Rest of Middle East Ultrasound Equipment Market by Product
11.5.1.9.2 Rest of Middle East Ultrasound Equipment Market by Application
11.5.1.9.3 Rest of Middle East Ultrasound Equipment Market by End User
11.5.2 Africa
11.5.2.1 Africa Transfusion Diagnostics Market by country
11.5.2.2 Africa Ultrasound Equipment Market by Product
11.5.2.3 Africa Ultrasound Equipment Market by Application
11.5.2.4 Africa Ultrasound Equipment Market by End User
11.5.2.5 Nigeria
11.5.2.5.1 Nigeria Ultrasound Equipment Market by Product
11.5.2.5.2 Nigeria Ultrasound Equipment Market by Application
11.5.2.5.3 Nigeria Ultrasound Equipment Market by End User
11.5.2.6 South Africa
11.5.2.6.1 South Africa Ultrasound Equipment Market by Product
11.5.2.6.2 South Africa Ultrasound Equipment Market by Application
11.5.2.6.3 South Africa Ultrasound Equipment Market by End User
11.5.2.7 Rest of Africa
11.5.2.7.1 Rest of Africa Ultrasound Equipment Market by Product
11.5.2.7.2 Rest of Africa Ultrasound Equipment Market by Application
11.5.2.7.3 Rest of Africa Ultrasound Equipment Market by End User
11.6 Latin America
11.6.1 Latin America Ultrasound Equipment Market by country
11.6.2 Latin America Ultrasound Equipment Market by Product Type
11.6.3 Latin America Ultrasound Equipment Market by Application
11.6.4 Latin America Ultrasound Equipment Market by End User
11.6.5 Brazil
11.6.5.1 Brazil America Ultrasound Equipment by Product Type
11.6.5.2 Brazil America Ultrasound Equipment by Application
11.6.5.3 Brazil America Ultrasound Equipment by End User
11.6.6 Argentina
11.6.6.1 Argentina America Ultrasound Equipment by Product Type
11.6.6.2 Argentina America Ultrasound Equipment by Application
11.6.6.3 Argentina America Ultrasound Equipment by End User
11.6.7 Colombia
11.6.7.1 Colombia America Ultrasound Equipment by Product
11.6.7.2 Colombia America Ultrasound Equipment by Application
11.6.7.3 Colombia America Ultrasound Equipment by End User
11.6.8 Rest of Latin America
11.6.8.1 Rest of Latin America Ultrasound Equipment by Product
11.6.8.2 Rest of Latin America Ultrasound Equipment by Application
11.6.8.3 Rest of Latin America Ultrasound Equipment by End User

12 Company profile
12.1 GE Healthcare
12.1.1 Company Overview
12.1.2 Financial
12.1.3 Products/ Services Offered
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 Hitachi
12.2.1 Company Overview
12.2.2 Financials
12.2.3 Product/Services Offered
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 Siemens healthcare
12.3.1 Company Overview
12.3.2 Financials
12.3.3 Product/Services Offered
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 Samsung Medison
12.4.1 Company Overview
12.4.2 Financials
12.4.3 Product/Services Offered
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 Esaote
12.5.1 Company Overview
12.5.2 Financials
12.5.3 Product/Services Offered
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 Canon Medical Systems Corporation
12.6.1 Company Overview
12.6.2 Financials
12.6.3 Product/Services Offered
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 Others
12.7.1 Company Overview
12.7.2 Financials
12.7.3 Product/Services Offered
12.7.4 SWOT Analysis
12.7.5 The SNS View

13. Competitive Landscape
13.1 Competitive Bench marking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions

14. Use Case and Best Practices

15. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.

 

The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

Step 3: Data Bank Validation

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Data Bank Validation

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