Global Ultrasound Probe Market, By Type (Linear Type, Convex Type, Phased Array Type, Endocavitary Type, Others), Applications (OB-Gyn, Urology, Vascular and Nervous System, Renal / Digestive, Musculoskeletal, Abdominal, Gynecology, Cardiology, Vascular, Others), End- Users (Hospitals, Clinics, Diagnostic Centers, Ambulatory Surgical Centers, Others), Product Type (Wireless Ultrasound Probe, Wired Ultrasound Probe), Channel (Direct Sales, Distributor) – Industry Trends and Forecast to 2029.
Ultrasound Probe Market Analysis and Size
The World Health Organization (WHO) estimates that 9.4 million deaths worldwide occur each year as a result of cardiovascular diseases (CVD). By 2030, there will probably be 23.3 million more. As a result, the need for ultrasound devices to diagnosis various CVDs is growing as image quality has improved. Demand for ultrasound devices for lung imaging is also anticipated to increase as more individuals have pulmonary artery-related illnesses.
Data Bridge Market Research analyses that the ultrasound probe market which was USD 369.74 million in 2021 would rocket up to USD 502.14 million by 2029, and is expected to undergo a CAGR of 3.90% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Ultrasound Probe Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Linear Type, Convex Type, Phased Array Type, Endocavitary Type, Others), Applications (OB-Gyn, Urology, Vascular & Nervous System, Renal / Digestive, Musculoskeletal, Abdominal, Gynecology, Cardiology, Vascular, Others), End- Users (Hospitals, Clinics, Diagnostic Centers, Ambulatory Surgical Centers, Others), Product Type (Wireless Ultrasound Probe, Wired Ultrasound Probe), Channel (Direct Sales, Distributor),
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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GENERAL ELECTRIC (U.S.), Koninklijke Philips N.V. (Netherlands), Siemens (Germany), FUJIFILM Corporation (Japan), Samsung healthcare (South Korea), Hitachi Ltd. (Japan), ESAOTE SPA (Italy), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), FUKUDA DENSHI (Japan), Hologic, Inc. (U.S.), Analogic Corporation (U.S.), TOSHIBA CORPORATION (Japan), Trivitron Healthcare (India)
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Market Opportunities
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Market Definition
Ultrasound probes are made to send high frequency sound waves through biological tissues, creating echoes in the process. Healthcare professionals working in hospitals, clinics, diagnostic labs, and other healthcare facilities strongly demand these gadgets.
Ultrasound Probe Market Dynamics
Drivers
- Rise in the use of ultrasound technology
Increased use of ultrasound technology is anticipated to accelerate market expansion. Other factors that are expected to boost the ultrasound probe market over the forecast period of 2022 to 2029 include the rise in chronic diseases, technological advancements, an increase in pulmonary artery-related disorders cases, an increase in ultrasound probe usage, particularly in low- and middle-income countries, and an increase in government initiatives.
- Technological advancements in ultrasound techniques
The growth can be attributed to the technological advancements, increasing number of ultrasound imaging techniques, rising prevalence of hospital-acquired Infections (HAIs), and growing adoption of diagnostic imaging.
- Increasing investment for healthcare infrastructure
Another significant factor influencing the market growth rate is the rising healthcare expenditure which helps improve its infrastructure. Also, various government organizations aim to improve the healthcare infrastructure by increasing funding, which will further influence the market dynamics.
Opportunities
- Increase in in-vitro fertilization
The market's growth is fuelled by rising number of in-vitro fertilization treatments. This will provide beneficial opportunities for the market growth.
Restraints/Challenges
On the other hand, the high cost of the ultrasound probe, lack awareness about ultrasound probe and limited availability of ultrasound probe will obstruct the market's growth rate.
This ultrasound probe market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the ultrasound probe market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Ultrasound Probe Market
Ultrasound probe is in higher demand due to the COVID 19 pandemic, which propels market expansion. This is because the need for medical goods like personal protection equipment is rising. Additionally, while ultrasound probe disinfection could lower the risk of infections among doctors and patients, the unexpected rise in COVID-19 infection rates may benefit the industry. Additionally, the COVID-19 pandemic presents a significant problem for medical personnel worldwide due to the rise in nosocomial infections.
Recent Development
- In June 2021, WHO also released a list of 500 medical devices that are essential in all types of healthcare settings, from primary care clinics to highly specialised hospitals, for the management of cardiovascular illnesses.
Global Ultrasound Probe Market Scope
The ultrasound probe market is segmented on the basis of type, application, end-users, product type and channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Linear Type
- Convex Type
- Phased Array Type
- Endocavitary Type
- Others
Application
- OB-Gyn
- Urology
- Vascular and Nervous System
- Renal / Digestive
- Musculoskeletal
- Abdominal
- Gynecology
- Cardiology
- Vascular
- Others
End- Users
- Hospitals
- Clinics
- Diagnostic Centers
- Ambulatory Surgical Centers
- Others
Product Type
- Wireless Ultrasound Probe
- Wired Ultrasound Probe
Channel
- Direct Sales
- Distributor
Ultrasound Probe Market Regional Analysis/Insights
The ultrasound probe market is analysed and market size insights and trends are provided by country, type, application, end-users, product type and channel as referenced above.
The countries covered in the ultrasound probe market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the ultrasound probe market due to the rising cases of breast cancer, increasing demand for technologically advanced procedures.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to the increasing investments on healthcare facilities by the developing countries, growing awareness regarding in-vitro fertilization procedures.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The ultrasound probe market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for Global ultrasound probe market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the ultrasound probe market. The data is available for historic period 2010-2020.
Competitive Landscape and Ultrasound Probe Market Share Analysis
The ultrasound probe market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to ultrasound probe market.
Some of the major players operating in the ultrasound probe market are:
- GENERAL ELECTRIC (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- Siemens (Germany)
- FUJIFILM Corporation (Japan)
- Samsung healthcare (South Korea)
- Hitachi Ltd. (Japan)
- ESAOTE SPA (Italy)
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China)
- FUKUDA DENSHI (Japan)
- Hologic, Inc. (U.S.)
- Analogic Corporation (U.S.)
- TOSHIBA CORPORATION (Japan)
- Trivitron Healthcare (India)
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