U.S. Ultrasound Equipment MarketU.S. Ultrasound Equipment Market 2024-2032 Overview: Trends, Competitor Dynamics, and Opportunities
U.S. Ultrasound Equipment Market by Product (Compact, Table-top), by Application (Radiology, Gynecology, Cardiology, Point of Care, Urology, Surgery, Others), by End-user (Hospitals, Clinics), by Forecast 2024-2032
Base Year: 2023
120 Pages
U.S. Ultrasound Equipment Market 2024-2032 Overview: Trends, Competitor Dynamics, and Opportunities
Key Insights
The U.S. Ultrasound Equipment Market size was valued at USD 2.42 USD Billion in 2023 and is projected to reach USD 3.71 USD Billion by 2032, exhibiting a CAGR of 6.3 % during the forecast period. Medical imaging is part of ultrasound equipment which includes types like portable models, cart-based, and handheld models. These include high-frequency sound wave transducers, Doppler features, and real-time imaging. Fields of use include obstetrics-gynecology, cardiology, and emergency medicine for diagnostic, monitoring, and therapeutic procedures guidance. Recent changes in the US market indicate rising demand for the use of more transportable and point-of-care ultrasound systems, which are fueled by technology developments, rising chronic diseases, and enhanced approaches to minimally invasive procedures. The addition of AI for improving imaging precision and the growth of telemedicine also shape the market trends.
U.S. Ultrasound Equipment Trends
- Increasing prevalence of chronic diseases
- Rising demand for minimally invasive procedures
- Advancements in ultrasound technology
- Growing adoption of AI and machine learning in ultrasound imaging
Driving Forces: What's Propelling the U.S. Ultrasound Equipment Market
- Technological Advancements: Continuous improvements in ultrasound technology, such as enhanced image quality and advanced transducers, are driving market growth.
- Increased Focus on Precision Medicine: Ultrasound provides accurate and real-time visualization, making it a valuable tool for personalized medicine.
- Aging Population: The growing number of elderly patients with chronic diseases is contributing to the demand for ultrasound examinations.
- Expansion of Applications: Ultrasound is now commonly used for various medical specialties, including obstetrics, cardiology, and urology.
Challenges and Restraints in the U.S. Ultrasound Equipment Market
- High Cost of Equipment: The purchase and maintenance of ultrasound equipment require significant financial investment.
- Competition from Alternative Imaging Modalities: Other imaging technologies, such as MRI and CT scans, may compete with ultrasound in certain applications.
- Regulatory Compliance and Reimbursement Challenges: Compliance with regulations and reimbursement policies can impact the market growth.
- Shortage of Skilled Technicians: The operation and interpretation of ultrasound images require specialized training and experience, which can create a shortage of skilled technicians.
Emerging Trends in U.S. Ultrasound Equipment
- Artificial Intelligence and Machine Learning: AI and machine learning algorithms are enhancing image processing, reducing diagnostic errors, and improving workflow efficiency.
- Miniature and Portable Ultrasound Systems: Compact and portable ultrasound devices are gaining popularity for use in point-of-care settings and remote locations.
- Integration with Other Medical Technologies: Ultrasound is increasingly integrated with technologies like PACS and EHR systems for seamless data management and improved patient care.
Growth Catalysts in the U.S. Ultrasound Equipment Industry
- Government Initiatives and Funding: Government support and funding for research and development in ultrasound technology.
- Introduction of Innovative Products: Leading players are investing in research and development to introduce advanced ultrasound equipment and expand their product portfolios.
- Expansion into New Applications: The exploration of ultrasound in emerging medical fields, such as oncology and rheumatology, creates new growth opportunities.
Market Segmentation: U.S. Ultrasound Equipment Analysis
Product
- Compact and Table-top
- Trolley-Based
- High-End
Application
- Radiology
- Gynecology
- Cardiology
- Point of Care
- Urology
- Surgery
End-user
- Hospitals and Clinics
- Ambulatory Surgical Centers
- Imaging Centers
Leading Players in the U.S. Ultrasound Equipment Market
- GE Healthcare
- Koninklijke Philips N.V.
- CANON MEDICAL SYSTEMS CORPORATION
- Hitachi
- Fujifilm Holdings Corporation
Significant Developments in the U.S. Ultrasound Equipment Sector
- June 2023: UltraSight announced a partnership with EchoNous to enable healthcare professionals to perform cardiac ultrasound and help increase patient access to cardiac care.
- February 2023: Samsung unveiled its new AI-enabled women’s health ultrasound system, the HERA W10 Elite. The platform provides 2D and 3D visualization of microcirculatory and slow blood across clinical applications such as obstetrics and gynecology.
- January 2023: Fujifilm Sonosite Inc., a part of Fujifilm Healthcare Portfolio, announced the launch of the new Sonosite PX ultrasound system. It is the next-generation device in the existing Sonosite POCUS portfolio, with advanced image clarity and features.
Comprehensive Coverage U.S. Ultrasound Equipment Market Report
Our comprehensive market report offers insights into:
- Market size and growth projections
- Key market trends and drivers
- Challenges and restraints
- Competitive landscape and industry analysis
- Emerging technologies and future outlook
- Detailed segmentation analysis
- Regional market dynamics
Regional Insight
The U.S. ultrasound equipment market is dominated by North America, followed by Europe and Asia-Pacific.
DROCT
Drivers: Technological advancements, increasing chronic diseases
Restraints: High cost, regulatory challenges
Opportunities: AI and machine learning, emerging applications
Challenges: Skilled technician shortage, competition
Threats: Alternative imaging modalities
Pricing Analysis
Ultrasound equipment prices vary depending on features, applications, and manufacturers. Compact ultrasound systems start from around USD 100,000, while high-end systems can cost over USD 1 million.
Import And Export Analysis
The U.S. is a net exporter of ultrasound equipment, with major export destinations including Europe and Asia-Pacific.
Segmentation
The U.S. ultrasound equipment market is segmented by product, application (Point Of Care), end-user, and region.
Patent/Trademark Analysis
The market report provides a comprehensive analysis of key patents and trademarks in the U.S. ultrasound equipment industry.
U.S. Ultrasound Equipment Market REPORT HIGHLIGHTS
| Aspects | Details |
|---|---|
| Study Period | 2018-2032 |
| Base Year | 2023 |
| Estimated Year | 2024 |
| Forecast Period | 2024-2032 |
| Historical Period | 2018-2023 |
| Growth Rate | CAGR of 6.3% from 2018-2032 |
| Segmentation |
|
Frequently Asked Questions
Table Of Content
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 2.1. Introduction
- 3. Market Dynamics
- 3.1. Introduction
- 3.2. Market Drivers
- 3.2.1. Regulatory Mandates for Adoption of Electronic Health Records (EHR)/Electronic Medical Records (EMR) to Assist Revenue Cycle Management Market Growth
- 3.3. Market Restrains
- 3.3.1. Increase in Product Recalls to Hamper Demand for Ultrasound Equipment
- 3.4. Market Trends
- 3.4.1. Increasing Number of Hospitals and ASCs Identified as Significant Market Trend
- 4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
- 5. U.S. Ultrasound Equipment Market Analysis, Insights and Forecast, 2018-2030
- 5.1. Market Analysis, Insights and Forecast - by Product
- 5.1.1. Compact
- 5.1.2. Table-top
- 5.2. Market Analysis, Insights and Forecast - by Application
- 5.2.1. Radiology
- 5.2.2. Gynecology
- 5.2.3. Cardiology
- 5.2.4. Point of Care
- 5.2.5. Urology
- 5.2.6. Surgery
- 5.2.7. Others
- 5.3. Market Analysis, Insights and Forecast - by End-user
- 5.3.1. Hospitals
- 5.3.2. Clinics
- 5.4. Market Analysis, Insights and Forecast - by Region
- 5.4.1.
- 5.1. Market Analysis, Insights and Forecast - by Product
- 6. Northeast U.S. Ultrasound Equipment Market Analysis, Insights and Forecast, 2018-2030
- 6.1. Market Analysis, Insights and Forecast - By Product
- 6.1.1. Compact and Table-top
- 6.2. Market Analysis, Insights and Forecast - By Application
- 6.2.1 Radiology
- 6.2.2 Gynecology
- 6.2.3 Cardiology
- 6.2.4 Point of Care
- 6.2.5 Urology
- 6.2.6 Surgery
- 6.2.7 and Others
- 6.3. Market Analysis, Insights and Forecast - By End-user
- 6.3.1. Hospitals and Clinics
- 7. Southeast U.S. Ultrasound Equipment Market Analysis, Insights and Forecast, 2018-2030
- 7.1. Market Analysis, Insights and Forecast - By Product
- 7.1.1. Compact and Table-top
- 7.2. Market Analysis, Insights and Forecast - By Application
- 7.2.1 Radiology
- 7.2.2 Gynecology
- 7.2.3 Cardiology
- 7.2.4 Point of Care
- 7.2.5 Urology
- 7.2.6 Surgery
- 7.2.7 and Others
- 7.3. Market Analysis, Insights and Forecast - By End-user
- 7.3.1. Hospitals and Clinics
- 8. Midwest U.S. Ultrasound Equipment Market Analysis, Insights and Forecast, 2018-2030
- 8.1. Market Analysis, Insights and Forecast - By Product
- 8.1.1. Compact and Table-top
- 8.2. Market Analysis, Insights and Forecast - By Application
- 8.2.1 Radiology
- 8.2.2 Gynecology
- 8.2.3 Cardiology
- 8.2.4 Point of Care
- 8.2.5 Urology
- 8.2.6 Surgery
- 8.2.7 and Others
- 8.3. Market Analysis, Insights and Forecast - By End-user
- 8.3.1. Hospitals and Clinics
- 9. Southwest U.S. Ultrasound Equipment Market Analysis, Insights and Forecast, 2018-2030
- 9.1. Market Analysis, Insights and Forecast - By Product
- 9.1.1. Compact and Table-top
- 9.2. Market Analysis, Insights and Forecast - By Application
- 9.2.1 Radiology
- 9.2.2 Gynecology
- 9.2.3 Cardiology
- 9.2.4 Point of Care
- 9.2.5 Urology
- 9.2.6 Surgery
- 9.2.7 and Others
- 9.3. Market Analysis, Insights and Forecast - By End-user
- 9.3.1. Hospitals and Clinics
- 10. West U.S. Ultrasound Equipment Market Analysis, Insights and Forecast, 2018-2030
- 10.1. Market Analysis, Insights and Forecast - By Product
- 10.1.1. Compact and Table-top
- 10.2. Market Analysis, Insights and Forecast - By Application
- 10.2.1 Radiology
- 10.2.2 Gynecology
- 10.2.3 Cardiology
- 10.2.4 Point of Care
- 10.2.5 Urology
- 10.2.6 Surgery
- 10.2.7 and Others
- 10.3. Market Analysis, Insights and Forecast - By End-user
- 10.3.1. Hospitals and Clinics
- 11. Competitive Analysis
- 11.1. Market Share Analysis 2023
- 11.2. Company Profiles
- 11.2.1 GE Healthcare (U.S.)
- 11.2.1.1. Overview
- 11.2.1.2. Products
- 11.2.1.3. SWOT Analysis
- 11.2.1.4. Recent Developments
- 11.2.1.5. Financials (Based on Availability)
- 11.2.2 Koninklijke Philips N.V. (Netherlands)
- 11.2.2.1. Overview
- 11.2.2.2. Products
- 11.2.2.3. SWOT Analysis
- 11.2.2.4. Recent Developments
- 11.2.2.5. Financials (Based on Availability)
- 11.2.3 CANON MEDICAL SYSTEMS CORPORATION (Japan)
- 11.2.3.1. Overview
- 11.2.3.2. Products
- 11.2.3.3. SWOT Analysis
- 11.2.3.4. Recent Developments
- 11.2.3.5. Financials (Based on Availability)
- 11.2.4 Hitachi (Japan)
- 11.2.4.1. Overview
- 11.2.4.2. Products
- 11.2.4.3. SWOT Analysis
- 11.2.4.4. Recent Developments
- 11.2.4.5. Financials (Based on Availability)
- 11.2.5 Fujifilm Holdings Corporation (Japan)
- 11.2.5.1. Overview
- 11.2.5.2. Products
- 11.2.5.3. SWOT Analysis
- 11.2.5.4. Recent Developments
- 11.2.5.5. Financials (Based on Availability)
- 11.2.6 Siemens Healthcare (Germany)
- 11.2.6.1. Overview
- 11.2.6.2. Products
- 11.2.6.3. SWOT Analysis
- 11.2.6.4. Recent Developments
- 11.2.6.5. Financials (Based on Availability)
- 11.2.7 Shenzhen Mindray Bio-Medical Electronics Co. Ltd. (China)
- 11.2.7.1. Overview
- 11.2.7.2. Products
- 11.2.7.3. SWOT Analysis
- 11.2.7.4. Recent Developments
- 11.2.7.5. Financials (Based on Availability)
- 11.2.8 Samsung Medison Co. Ltd. (South Korea)
- 11.2.8.1. Overview
- 11.2.8.2. Products
- 11.2.8.3. SWOT Analysis
- 11.2.8.4. Recent Developments
- 11.2.8.5. Financials (Based on Availability)
- 11.2.9 Esaote SPA (Italy)
- 11.2.9.1. Overview
- 11.2.9.2. Products
- 11.2.9.3. SWOT Analysis
- 11.2.9.4. Recent Developments
- 11.2.9.5. Financials (Based on Availability)
- 11.2.1 GE Healthcare (U.S.)
List of Figures
- Figure 1: U.S. Ultrasound Equipment Market Revenue Breakdown (USD Billion, %) by Product 2023 & 2031
- Figure 2: U.S. Ultrasound Equipment Market Value Share (%), by Product 2023 & 2031
- Figure 3: U.S. Ultrasound Equipment Market Value Share (%), by Application 2023 & 2031
- Figure 4: U.S. Ultrasound Equipment Market Value Share (%), by End-user 2023 & 2031
- Figure 5: U.S. Ultrasound Equipment Market Share (%) by Company 2023
List of Tables
- Table 1: U.S. Ultrasound Equipment Market Revenue USD Billion Forecast, by Product 2018 & 2031
- Table 2: U.S. Ultrasound Equipment Market Volume K Units Forecast, by Product 2018 & 2031
- Table 3: U.S. Ultrasound Equipment Market Revenue USD Billion Forecast, by Application 2018 & 2031
- Table 4: U.S. Ultrasound Equipment Market Volume K Units Forecast, by Application 2018 & 2031
- Table 5: U.S. Ultrasound Equipment Market Revenue USD Billion Forecast, by End-user 2018 & 2031
- Table 6: U.S. Ultrasound Equipment Market Volume K Units Forecast, by End-user 2018 & 2031
- Table 7: U.S. Ultrasound Equipment Market Revenue USD Billion Forecast, by Region 2018 & 2031
- Table 8: U.S. Ultrasound Equipment Market Volume K Units Forecast, by Region 2018 & 2031
- Table 9: U.S. Ultrasound Equipment Market Revenue USD Billion Forecast, by Product 2018 & 2031
- Table 10: U.S. Ultrasound Equipment Market Volume K Units Forecast, by Product 2018 & 2031
- Table 11: U.S. Ultrasound Equipment Market Revenue USD Billion Forecast, by Application 2018 & 2031
- Table 12: U.S. Ultrasound Equipment Market Volume K Units Forecast, by Application 2018 & 2031
- Table 13: U.S. Ultrasound Equipment Market Revenue USD Billion Forecast, by End-user 2018 & 2031
- Table 14: U.S. Ultrasound Equipment Market Volume K Units Forecast, by End-user 2018 & 2031
- Table 15: U.S. Ultrasound Equipment Market Revenue USD Billion Forecast, by Region 2018 & 2031
- Table 16: U.S. Ultrasound Equipment Market Volume K Units Forecast, by Region 2018 & 2031
- Table 17: U.S. Ultrasound Equipment Market Revenue USD Billion Forecast, by Product 2018 & 2031
- Table 18: U.S. Ultrasound Equipment Market Volume K Units Forecast, by Product 2018 & 2031
- Table 19: U.S. Ultrasound Equipment Market Revenue USD Billion Forecast, by Application 2018 & 2031
- Table 20: U.S. Ultrasound Equipment Market Volume K Units Forecast, by Application 2018 & 2031
- Table 21: U.S. Ultrasound Equipment Market Revenue USD Billion Forecast, by End-user 2018 & 2031
- Table 22: U.S. Ultrasound Equipment Market Volume K Units Forecast, by End-user 2018 & 2031
- Table 23: U.S. Ultrasound Equipment Market Revenue USD Billion Forecast, by Country 2018 & 2031
- Table 24: U.S. Ultrasound Equipment Market Volume K Units Forecast, by Country 2018 & 2031
- Table 25: Northeast U.S. Ultrasound Equipment Market Revenue (USD Billion) Forecast, by Application 2018 & 2031
- Table 26: Northeast U.S. Ultrasound Equipment Market Volume (K Units) Forecast, by Application 2018 & 2031
- Table 27: Southeast U.S. Ultrasound Equipment Market Revenue (USD Billion) Forecast, by Application 2018 & 2031
- Table 28: Southeast U.S. Ultrasound Equipment Market Volume (K Units) Forecast, by Application 2018 & 2031
- Table 29: Midwest U.S. Ultrasound Equipment Market Revenue (USD Billion) Forecast, by Application 2018 & 2031
- Table 30: Midwest U.S. Ultrasound Equipment Market Volume (K Units) Forecast, by Application 2018 & 2031
- Table 31: Southwest U.S. Ultrasound Equipment Market Revenue (USD Billion) Forecast, by Application 2018 & 2031
- Table 32: Southwest U.S. Ultrasound Equipment Market Volume (K Units) Forecast, by Application 2018 & 2031
- Table 33: West U.S. Ultrasound Equipment Market Revenue (USD Billion) Forecast, by Application 2018 & 2031
- Table 34: West U.S. Ultrasound Equipment Market Volume (K Units) Forecast, by Application 2018 & 2031
- Table 35: U.S. Ultrasound Equipment Market Revenue USD Billion Forecast, by Product 2018 & 2031
- Table 36: U.S. Ultrasound Equipment Market Volume K Units Forecast, by Product 2018 & 2031
- Table 37: U.S. Ultrasound Equipment Market Revenue USD Billion Forecast, by Application 2018 & 2031
- Table 38: U.S. Ultrasound Equipment Market Volume K Units Forecast, by Application 2018 & 2031
- Table 39: U.S. Ultrasound Equipment Market Revenue USD Billion Forecast, by End-user 2018 & 2031
- Table 40: U.S. Ultrasound Equipment Market Volume K Units Forecast, by End-user 2018 & 2031
- Table 41: U.S. Ultrasound Equipment Market Revenue USD Billion Forecast, by Country 2018 & 2031
- Table 42: U.S. Ultrasound Equipment Market Volume K Units Forecast, by Country 2018 & 2031
| Aspects | Details |
|---|---|
| Study Period | 2018-2032 |
| Base Year | 2023 |
| Estimated Year | 2024 |
| Forecast Period | 2024-2032 |
| Historical Period | 2018-2023 |
| Growth Rate | CAGR of 6.3% from 2018-2032 |
| Segmentation |
|
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STEP 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)
Top-down and bottom-up approaches are used to validate the global market size and estimate the market size for manufactures, regional segemnts, product and application.
Note* : In applicable scenarios
STEP 3 - Data Sources
Primary Research
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Secondary Research
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Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
Additionally after gathering mix and scattered data from wide range of sources, data is triangull- ated and correlated to come up with estimated figures which are further validated through primary mediums, or industry experts, opinion leader.
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