The Global Next-generation Ultrasound System Market Size is valued at 9.98 Bn in 2023 and is predicted to reach 19.66 Bn by the year 2031 at a 9.00% CAGR during the forecast period for 2024-2031.
Next-generation ultrasound system is a user-friendly device that combines several imaging diagnoses related to varieties of clinical segments. This device is an excellent solution to make the diagnostic work more effective. In addition to this, these devices have various advanced technologies with better quality, performance, mobility and cost. The next-generation ultrasound systems play important role in treating chronic diseases.
Currently, ultrasound imaging is one of the most prevalent diagnostic procedures in the healthcare industry. Numerous medical specialties, ranging from cardiology to obstetrics, rely heavily on this technology for timely diagnosis, disease management, and treatment planning. Through the advent of deep learning (DL), artificial intelligence (AI) has experienced remarkable growth over the past decade. What began with computer vision and language modelling has progressed to image reconstruction.
Multiple factors such as growing demand for ultrasound technologies in disease management, rapid adoption of advanced technologies, rising cases of chronic diseases, increasing government investments for development new ultrasound systems, growing awareness programs, health-conscious pregnant women, and the rising awareness regarding the next-generation ultrasound devices are projected to compel the product demand. However, the difficulties in handling the devices and the high cost of ultrasound technologies may downscale the expansion of the next-generation ultrasound systems market in the upcoming years.
Key Developments:
- In Nov 2020, Konica Minolta Healthcare Americas, Inc. unveiled the SONIMAGE HS2, a next-generation, small ultrasound system with increased picture quality and novel features designed for point-of-care applications. The HS2 System, which is based on the company's breakthrough ultrasound technology, provides higher picture quality and easier operation to enable doctors to address a wide range of therapeutic applications in musculoskeletal, vascular, pain management, interventional, and orthobiologics.
Competitive Landscape:
Some of the key Players of Next-generation Ultrasound Systems Market are:
- BK Medical ApS (Analogic Corporation)
- Butterfly Network, Inc.
- Canon, Inc.
- Clarius Mobile Health
- Esaote SpA
- Fujifilm Holdings Corporation
- General Electric Company
- Healcerion Co., Ltd.
- Hitachi, Ltd.
- Hologic, Inc.
- Koninklijke Philips N.V.
- Samsung Electronics Co., Ltd.
- Shenzhen Mindray Bio-Medical
- Electronics Co., Ltd.
- Shimadzu Corporation
- Siemens Healthineers AG
- Other Prominent Players
Market Segmentation:
The next-generation ultrasound systems market can be segmented on the basis of products, technology, application, portability, end-users, and region. on the basis of products, the market can be divided into diagnostic ultrasound systems and therapeutic ultrasound systems. The diagnostic ultrasound segment is expected to hold a larger share of the ultrasound market in future. On the basis of Technology, the market is segmented into 4D/3D ultrasound systems, 2D ultrasound systems, and others (fusion imaging tissue harmonic imaging). 2D ultrasound systems segment is expected to dominate this market due to its high use in women’s health.
In terms of portability, the market is segmented into cart/trolley-based systems, handheld devices and wearables, and portable systems. By End-Users, the market is segmented into hospitals, diagnostic centers, ambulatory surgical centers (ASCs), and others end-user. The hospitals segment is expected to grow faster in the coming days due to the increasing number of patients coupled with the easy availability of diagnoses. Application segment includes General Imaging, Cardiology Imaging, Vascular Imaging, Obstetrics and Gynecology Imaging, Lung Imaging, Urology, Orthopedics/Musculoskeletal Imaging, and Other Imaging.
Regional Analysis:
In terms of geography, the market is segmented into North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa. Out of these regions, North America is expected to dominate the market over the forecast period (2023-2031). The rising incidence of chronic illnesses, a growing requirement for reliable, portable diagnostic equipment, and the rapid adoption of cutting-edge technologies like 3D/4D and AI/IoT are the key drivers of regional demand. During the projection period, it is also anticipated that rising healthcare spending, government funding to support R&D activities, and investments in R&D by key companies involved in ultrasound monitoring systems will create lucrative expansion opportunities.
Next-generation Ultrasound System Market Report Scope:
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Report Attribute |
Specifications |
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Market size value in 2023 |
USD 9.98 Bn |
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Revenue forecast in 2031 |
USD 19.66 Bn |
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Growth rate CAGR |
CAGR of 9.00 % from 2024 to 2031 |
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Quantitative units |
Representation of revenue in US$ Billion, volume (units) and CAGR from 2023 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
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Segments covered |
Products, Technology, Application, Portability, End-Users |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
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Competitive Landscape |
BK Medical ApS (Analogic Corporation), Butterfly Network, Inc., Canon, Inc., Clarius Mobile Health, Esaote SpA, Fujifilm Holdings Corporation, General Electric Company, Healcerion Co., Ltd., Hitachi, Ltd., Hologic, Inc., Koninklijke Philips N.V., Samsung Electronics Co., Ltd., Shenzhen Mindray Bio-Medical , Electronics Co., Ltd., Shimadzu CorporationS, Siemens Healthineers AG, and other Prominent Players. |
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Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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