Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Ultrasound Transducer market.
Trusted Business Insights presents an updated and comprehensive analysis of Ultrasound Transducer Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Ultrasound Transducer market during the forecast period (2021-2026).Our research analyst have analysed at the short-term stress in the industries subsectors as well as long-term impacts. Analyst have also examined the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Abstract, Snapshot, Market Analysis & Market Definition: Global Ultrasound Transducer Market
The global Ultrasound Transducer market size is projected to reach US$ 4.25 billion by 2026, from US$ 3.43 billion in 2020, at a CAGR of 3.6% during 2021-2026. Increasing applications of ultrasound devices in diagnostic imaging of various conditions and introduction of advanced transducers are some of major factors driving the growth.
Ultrasound transducers are used in diagnostic testing, surgical procedures, and in noninvasive procedures including lithotripsy. Major diagnostic uses of these devices include the examination of cardiac, maternity, abdominal, gynecological, cerebrovascular and urological, breast examination and small pieces of tissues and in pediatric and operational review.
Rising frequency of product launches is expected to propel the ultrasound transducer market. Key players are focusing on development of high-powered, handheld, single-use ultrasound transducers. Moreover, companies are launching ultrasound devices incorporated with advanced transducer. These advanced products are specially designed for various applications including vascular and muscular skeletal. Introduction of novel devices such as EPIQ Elite ultrasound system, SiliconWave L38-22 linear array transducer, and mi-ultra with both linear & convex offering is anticipated to boost the market during the forecast period.
Increasing use of ultrasound machines owing to its high efficiency and safety is expected to drive the market. These devices offer accurate diagnosis and real time data to the physicians for better diagnosis. Owing to these advantages, the demand for these systems is expected to be on steep rise during the forecast period.
Market Segmentation, Outlook & Viewpoint: Global Ultrasound Transducer Market
Product Type Market Segmentation & Outlook (Revenue, USD Million, 2014 – 2026)
- Phased Array
- CW Doppler
Application Market Segmentation & Outlook (Revenue, USD Million, 2014 – 2026)
- General Imaging
End Use Market Segmentation & Outlook (Revenue, USD Million, 2014 – 2026)
- Diagnostic center
- Ambulatory Surgery Centers (ASCs)
Key Players, Recent Developments & Regional Insights: Global Ultrasound Transducer Market
General imaging segment accounted for the largest market share in 2018 owing to high demand for radiation free and non-invasive diagnostic modalities. Usage of ultrasound is becoming prominent for general imaging as it helps in capturing effective images of soft tissue.
Cardiovascular segment is expected to showcase the fastest growth owing to rise in demand for accurate diagnostic options, introduction of specially designed products, rising prevalence of heart conditions, and growing awareness among individuals regarding timely treatment.
Others (urology, transrectal) segment is expected to capture significant market share in the forecast period owing to the high demand for ultrasound devices in diagnostic as well as surgical procedures. Recently, a study found that ultrasound can be used to assess risks of deep vein thrombosis (DVT) after ablation procedures. Applications of ultrasound are expected to expand significantly during the forecast period
End Use Insights
Hospital segment is anticipated to lead the market in the next seven years owing to high adoption of ultrasound systems as the primary imaging option. Availability of portable ultrasound systems and usage of this modality in each department is anticipated to boost the demand for ultrasound transducers.
Rising number of healthcare facilities in the emerging economies is one of the major demand drivers of the ultrasound transducers. Increasing number of skilled professionals in hospitals and growing awareness regarding innovative devices are few other driving factors affecting the segment growth.
Clinics segment is expected to grow considerably during the forecast period owing to increasing number of professionals and growing number of clinics in both developing and developed economies. Availability of affordable ultrasound systems which can be used in small clinics settings is expected to play an important role in segment growth.
North America is anticipated to lead the market owing to high adoption of ultrasound modality in general diagnostics and rising prevalence of lifestyle associated chronic diseases. In addition, high demand for technologically advanced medical devices is also expected to propel the market growth in the region.
Asia Pacific is anticipated to grow significantly in the forthcoming years owing to rapidly growing geriatric population, improving healthcare facilities for treating heart disorders, and growing healthcare expenditure. Blooming medical tourism in Asia Pacific economies is also expected to fuel the ultrasound transducer market in the region.
Prospering medical tourism in developing countries such as India, Thailand, Brazil, Mexico, and Philippines is boosting the demand for world class healthcare services. This is expected to fuel the number of imported ultrasound devices in these countries. Major market players are strategizing to increase their presence in these regions and offer products at competitive prices.
Ultrasound Transducer Market Share Insights
The major players profiled in the market comprise GE Healthcare, Koninklijke Philips N.V., Siemens, FUJIFILM SonoSite, Samsung Medison, Hitachi, Esaote, Mindray, SIUI, Shenzhen Ruqi Technology, SonoScape Medical, and Shenzhen Jiarui Electronic Technology.
These players are focusing on adopting various growth strategies such as new product launches, innovations in the existing products, and mergers and acquisitions for introduction of more efficient medical diagnostic devices and strengthening their market presence. Lately, Philips acquired Shanghai Apex Electronics Technology (Apex), a China-based manufacturer of ultrasound transducers for an undisclosed fee. The acquisition aims at strengthening Philips portfolio of manufacturing transducers that are essential for determining the image quality of these systems.
Key Insights Covered: Global Ultrasound Transducer Market
1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Ultrasound Transducer industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Ultrasound Transducer industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Ultrasound Transducer industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Ultrasound Transducer industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Ultrasound Transducer industry.
Research Methodology: Global Ultrasound Transducer Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other
Quick Read Table of Contents of this Report @ Ultrasound Transducer Market Size, Share, Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)
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