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The global ultrasound equipment market size was USD 7.26 billion in 2020. The market is anticipated to grow from USD 7.80 billion in 2021 to USD 12.93 billion by 2028 at a CAGR of 7.5% in the 2021-2028 period.
This information is provided by Fortune Business Insights™, in its report, titled, “Ultrasound Equipment Market Size, Share & COVID-19 Impact Analysis, By Product (Compact, and Table-top), By Application (Radiology, Gynecology, Cardiology, Point of Care, Urology, Surgery, and Others), By End User (Hospitals & Clinics), and Regional Forecast, 2021-2028.”
According to our researchers, the mounting occurrence of chronic conditions as well as the extension of the uses of ultrasound systems are some of the principal aspects that are projected to thrust the growth of the market during the forthcoming years.
COVID-19 Pandemic Set to Impede Sales of Ultrasound Device and Other Medical Gadgets
The global outburst of COVID-19 has resulted in a completely adverse influence on the global market. The pandemic has further created severe interruptions in the supply chain cycle of clinical apparatuses across the world. Among few of the fundamental players working in the ultrasound market have experienced supply chain interventions, particularly from suppliers in brutally impacted developing nations such as India, China, and Brazil, among others.
On the contrary, the production capability of some of the companies has been influenced owing to the inaccessibility of domestically obtained raw materials or fragments.
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Canon Medical Unveils Aplio A-Series at AIUM 2019
Canon Medical Systems USA, Inc. announced the introduction of the Aplio a-series, which is a novel series of ultrasound systems offering elevated performance for numerous medical applications at a reasonable cost.
Moreover, the product line is structured with the ergonomics, imaging, and workflow competencies of the premium ultrasound systems by Canon Medical in notice. The Aplio a-series, which comprises of the a550 and a450, is capable of covering an extensive assortment of medical fragments, right from cardiology to women’s health and also for regular day-to-day superiority.
Growing Occurrence of Chronic Conditions among Geriatric Patients to Support Market Growth
Universally, the increasing occurrence of prolonged ailments has occasioned in an elevation in the demand for healthcare facilities such as surging quantity of patient appointments, hospital admittances, and operative surgeries. For example, in 2019, as per a data report issued by the CDC, there were approximately over 900 million doctor office appointments taken, 155 million registered visits to the emergency department, and nearly 45 million casualty surgical procedures accomplished in the U.S.
Additionally, pooled with the upsurge in the number of geriatric patients worldwide going through chronic conditions, has resulted in considerable growth in the requirement for medical imaging devices comprising of ultrasound equipment intended for identification and treatment courses. This is projected to sustain the ultrasound equipment market growth in the forthcoming years.
Novel Presentations and Acquisitions Set to Bolster Market Growth
The leading and important players in the market frequently come up with proficient tactics that consist of partnership deals, procurement and collaboration strategies, product unveilings, and many more approaches. These strategies boost their position as dominating players and also gains advantage to the other involved corporations as well.
List of Key Players Covered in this Market Report
Table of Segmentation
Value (USD billion), and Volume (Units)
Product; Application; End User; and Region
By End User