Global Ultrasound Devices Market Poised to Cross USD12.5 Billion by 2031 Amid Growing Healthcare Demand- TMR Analysis

The global ultrasound devices market is experiencing a significant transformation, driven by technological advancements and novel applications in medical imaging and therapy. Ultrasound devices, which use ultra-frequency sound waves to visualize internal organs, are integral to diagnostic and therapeutic procedures across various medical fields. Increasing demand for non-invasive diagnostic tools, coupled with a growing prevalence of chronic disorders, is propelling market expansion.

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Key Market Drivers

• Low-Intensity Ultrasound for COVID-19 Pneumonia: Research spearheaded by Giovanni Durando (National Institute for Metrological Research) and neurosurgeon Francesco Prada (Istituto Neurologico Carlo Besta) highlights the potential of low-intensity ultrasound in treating interstitial pneumonia associated with COVID-19. This breakthrough is expected to open new revenue streams for companies in the ultrasound devices market.
• Regulatory Support for Frequency Measurement: The U.S. FDA’s Therapeutic Ultrasound Program is addressing regulatory challenges by improving acoustic and thermal measurement techniques, enhancing device safety and performance.
• Innovation in Handheld Ultrasound Technology: App-based handheld ultrasound devices, such as Philips Lumify, are gaining traction for point-of-care (POC) diagnostics, particularly in remote areas. Their affordability and portability contribute to the market's growth at a projected CAGR of ~6% through 2031.
• Advancements in Ultrasound Debridement Technology: The development of non-contact low-frequency (NCLF) ultrasound is enhancing chronic wound care by reducing pain and accelerating healing, further expanding the scope of ultrasound applications.

Key Takeaways for Investors and Industry Leaders

• The global ultrasound devices market is projected to surpass USD 12.5 billion by 2031, driven by increasing adoption in radiology, cardiology, and gynecology.
• Companies investing in handheld and portable ultrasound devices will gain a competitive edge, as demand for compact solutions rises.
• Regulatory advancements and FDA approvals for dual-probe handheld ultrasound technology will unlock new growth opportunities.
• Research into therapeutic ultrasound for pulmonary and chronic disease treatment presents untapped market potential.

Market Trends Shaping the Industry

• Integration of AI and Machine Learning: AI-powered ultrasound devices improve diagnostic accuracy and automate image analysis, reducing dependency on specialized personnel.
• Wearable Ultrasound Devices: Emerging technologies in wearable ultrasound enable continuous monitoring of patients, particularly in critical care and home healthcare settings.
• Rising Adoption of Telemedicine and Remote Diagnostics: The COVID-19 pandemic has accelerated the use of remote ultrasound solutions, facilitating medical imaging in underserved regions.

Market Scope and Growth Drivers

The ultrasound devices market is segmented into diagnostic ultrasound (2D, 3D/4D, and Doppler) and therapeutic ultrasound (high-intensity focused ultrasound and extracorporeal shockwave lithotripsy). The diagnostic segment dominates, attributed to its widespread use in disease detection and prenatal imaging. Trolley/cart-based ultrasound devices continue to hold the largest market share, but handheld ultrasound devices are expected to witness exponential growth.

FDA Clearance for Handheld Devices Boosts Market Potential

With the introduction of GE Healthcare’s Vscan Air, a wireless handheld ultrasound device, the market is witnessing a surge in compact, battery-powered devices. FDA approvals for dual-probe designs facilitate quick transitions between shallow and deep imaging, further fueling adoption.

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Regional Insights

• North America leads the market, driven by technological advancements and high healthcare expenditure.
• Europe is witnessing growth due to increasing demand for portable ultrasound solutions and government initiatives.
• Asia Pacific is expected to emerge as the fastest-growing region, fueled by rising healthcare investments in China and India.

The leading players analyzed in the report are:

• GE Healthcare
• Koninklijke Philips N.V
• Canon Medical Systems Corporation
• Hitachi Ltd.
• Siemens Healthineers
• Mindray Medical International Limited
• Samsung Medison Co., Ltd.
• Fujifilm Holdings Corporation
• Esaote SpA
• Neusoft Corporation
• CHISON Medical Technologies Co., Ltd.
• Konica Minolta, Inc.
• Hologic, Inc.
• Shantou Institute of Ultrasonic Instruments Co., Ltd.
• Terason
• Analogic Corporation

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