Ultrasound Probes Market

Ultrasound Probes Market Size

Ultrasound Probes Market size was valued at USD 3.7 billion in 2023 and is estimated to grow at 3.7% CAGR from 2024 to 2032. Ultrasound probes, also known as transducers, are handheld devices used in medical imaging to generate and receive ultrasound waves. These probes consist of piezoelectric crystals that convert electrical energy into mechanical vibrations (sound waves) and vice versa.

Chronic diseases, such as cardiovascular diseases, diabetes, cancer, and respiratory disorders, are becoming more prevalent globally due to factors such as aging populations, sedentary lifestyles, poor dietary habits, and environmental factors. Ultrasound imaging plays a crucial role in diagnosing and monitoring these conditions. According to the World Health Organization (WHO), noncommunicable diseases (NCDs) account for a staggering 74% of global fatalities, with 17 million occurring prematurely before age 70, predominantly in low- and middle-income countries.

Among these, cardiovascular diseases are the primary cause, claiming 17.9 million lives yearly, followed by cancer (9.3 million), chronic respiratory diseases (4.1 million), and diabetes (2.0 million, including diabetes-related kidney disease deaths). Thus, as the burden of chronic diseases grows, the demand for ultrasound probes increases correspondingly, driving ultrasound probes market growth.

Technological innovations, such as the development of more compact, high-resolution probes, as well as features such as 3D/4D imaging, contrast-enhanced imaging, and elastography, enhance the diagnostic capabilities and usability of diagnostic ultrasound which is estimated to reach USD 11 billion by the end of 2032 , further driving its adoption.

Ultrasound Probes Market Trends

Traditionally, ultrasound imaging was primarily performed in specialized imaging centers or hospitals. However, advancements in technology have led to the development of portable and handheld ultrasound devices, making it feasible to use them in point-of-care settings such as clinics, physician offices, emergency rooms, and even in remote or resource-limited areas.

• This expansion of ultrasound applications beyond traditional settings increases accessibility to medical imaging services, facilitates early diagnosis, improves patient outcomes, and reduces healthcare costs associated with referrals to imaging centers or hospitals.
  
• Further, as healthcare expenditure rises globally, there's an increased focus on investing in advanced medical technologies to improve patient care and outcomes. For instance, as per estimates, healthcare spending in the U.S. reached USD 4.5 trillion in 2022, marking a 4.1% rise compared to the preceding year. This increase was more rapid than the 3% growth observed in 2021.
  
• Therefore, ultrasound probes, being an integral part of diagnostic imaging, benefit from this trend as healthcare providers seek to upgrade their equipment and facilities.
  

Ultrasound Probes Market Analysis

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Based on product, the market is divided into probe, software & services, and accessories. The probe segment is further bifurcated into linear probe, convex probe, phased array/cardiac probe, transesophageal (TEE) probe, endocavitary probe, cerebrovascular doppler, and other probes. The probe segment is estimated to account for USD 2.8 billion by the end of 2032.

• This surge is driven by several key factors, including continuous technological advancements that have enhanced probe efficiency and imaging capabilities.
  
• The rising adoption of point-of-care ultrasound (POCUS) in various clinical settings, fueled by its portability and real-time imaging capabilities, is contributing to increased demand.
  
• Furthermore, the shift towards minimally invasive procedures, guided by ultrasound technology, is driving the demand for ultrasound probes across diverse medical specialties.

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Based on application, the ultrasound probes market is bifurcated into musculoskeletal, oncology, cardiovascular, obstetrics & gynecology, general imaging, and other applications. The general imaging segment accounted for USD 1 billion in 2023.

• The general imaging application encompasses a wide range of medical conditions and diagnostic needs, making it a versatile and indispensable tool for healthcare providers. From abdominal scans to evaluating soft tissue structures, the general imaging application caters to a diverse array of patient cases, thereby driving its demand.
  
• For instance, ultrasound probes have been extensively used for lung imaging, particularly in the diagnosis and monitoring of COVID-19 pneumonia. They provide real-time imaging of lung tissue, allowing healthcare professionals to assess the severity of lung involvement and monitor disease progression. This has been invaluable in triaging patients and making timely treatment decisions.
  
• Thus, such aforementioned factors are expected to augment the segmental growth.
  

Based on end-use, the ultrasound probes market is bifurcated into hospitals and clinics, diagnostic centers, ambulatory surgical centers, and other end-users. The hospitals and clinics companies segment accounted for USD 1.6 billion in 2023.

• Hospitals and clinics typically receive a significant portion of healthcare expenditure in many countries. As healthcare spending has been on the rise globally, more funds are allocated towards hospital infrastructure and medical equipment procurement, including ultrasound probes.
  
• Their versatility, non-invasive nature, and real-time imaging features make them invaluable assets for diagnostic examinations, guiding interventions, and patient monitoring within hospital settings.
  
• Moreover, increasing awareness among healthcare providers and patients about the benefits of ultrasound imaging further drives its adoption in hospitals and clinics, solidifying the segment's significant contribution to the market.

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The ultrasound probes market in North America accounted for a significant market share of 40.8% in 2023, and this trajectory is set to continue upwards.

• The surge is primarily fueled by the rising incidence of chronic ailments such as cancer cardiovascular diseases, and diabetes. For instance, heart disease stands as the primary cause of mortality across various demographics in the U.S., affecting both men and women from diverse racial and ethnic backgrounds.
  
• Statistics from the Centers for Disease Control and Prevention (CDC) reveal that cardiovascular disease claims a life in the U.S. approximately every 33 seconds. In 2021 alone, around 695,000 individuals in the U.S. succumbed to heart disease, translating to one out of every five deaths.
  
• Thus, as the population ages and chronic disease rates continue to rise, the demand for ultrasound probes is expected to grow steadily in the region.
  

UK is anticipated to witness robust growth in the global ultrasound probes market.

• The aging population in the UK is driving the demand for healthcare services, including diagnostic imaging procedures. With the elderly population more prone to various health conditions requiring medical imaging, the demand for ultrasound probes is expected to grow significantly.
  

China ultrasound probes market is anticipated to witness lucrative growth between 2024 – 2032.

• China has been investing significantly in upgrading its healthcare infrastructure, aiming to provide advanced medical services to its vast population. This includes the integration of cutting-edge diagnostic technologies such as ultrasound systems, driving the demand for ultrasound probes in the country.
  

South Korea ultrasound probes market is expected to grow significantly over the years.

• South Korea has been consistently increasing its healthcare expenditure, reflecting a growing emphasis on improving healthcare infrastructure and services. As healthcare facilities expand and upgrade their equipment, there's a parallel surge in the demand for ultrasound probes to support diagnostics and monitoring across various medical specialties.
  

Ultrasound Probes Market Share

The ultrasound probes sector is competitive in nature, with a mix of major global and smaller to medium-sized companies competing for market share. A pivotal aspect of market strategy involves the continual introduction of innovative products leveraging diverse technologies. Notably, prominent industry players command significant influence in this dynamic landscape, often driving forward advancements through substantial investments in research and development. Additionally, strategic alliances, acquisitions, and mergers are instrumental in fortifying market positions and expanding global footprint amidst evolving regulatory landscapes.

Ultrasound Probes Market Companies

Some of the eminent market participants operating in the ultrasound probes industry include:

• Canon Inc.
• Esaote SPA
• Fujifilm Holdings Corporation
• GE HealthCare Technologies Inc.
• Hitachi, Ltd.
• Koninklijke Philips NV
• Mindray Bio-Medical Electronics Co., Ltd.
• Samsung Electronics Co., Ltd.
• Siemens Healthineers AG
• SonoScape Medical Corp
• Terason Division Teratech Corporation
  

Ultrasound Probes Industry News

• In February 2023, GE HealthCare announced its acquisition of Caption Health, Inc., a leading innovator in artificial intelligence (AI) healthcare. Caption Health specialized in creating clinical applications that utilize AI to enhance early disease detection, particularly in the realm of ultrasound scans. The incorporation of Caption AI applications streamlined ultrasound examinations, making them more efficient and accessible, enabling a broader spectrum of healthcare professionals to conduct basic echocardiogram exams with greater ease and speed. This strategic acquisition was anticipated to grant GE HealthCare a competitive edge in the market.
  
• In June 2022, Mindray introduced its top-tier point of care ultrasound system, known as the TEX20 Series. This series integrates a comprehensive range of wireless solutions, including voice command functionality, wireless charging capabilities, and wireless transducers, aimed at improving workflow efficiency and enhancing the user experience in high-pressure clinical settings. The launch of this product not only enriched the company's product portfolio but also contributed to a boost in the company's revenue.
  

The ultrasound probes market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments:

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Market, By Product

• Probe
  • Linear probe
  • Convex probe
  • Phased array/cardiac probe
  • Transesophageal (TEE) probe
  • Endocavitary probe
  • Cerebrovascular doppler
  • Other probes 
• Software & services
• Accessories

Market, By Application

• Musculoskeletal
• Oncology
• Cardiovascular
• Obstetrics & gynecology
• General imaging
• Other applications

Market, By End-use

• Hospitals and clinics
• Diagnostic centers
• Ambulatory surgical centers
• Other end-users

The above information is provided for the following regions and countries:

• North America 
  • U.S.
  • Canada 
• Europe 
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Netherlands
  • Rest of Europe 
• Asia Pacific 
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific 
• Latin America 
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America 
• Middle East and Africa 
  • Saudi Arabia
  • South Africa
  • UAE
  • Rest of Middle East and Africa