Ultrasound Equipment Market to Record CAGR of 7.3% Over 2025-2032; Growing Incidence of Chronic Ailments and Increasing Geriatric Population to Bolster Market Growth

The ultrasound equipment market size was valued at USD 9.63 billion in 2024 and is predicted to reach USD 10.32 billion in 2025. The market is anticipated to touch USD 16.91 billion by 2032, recording a CAGR of 7.3% over 2025-2032.

Fortune Business Insights™ presents this information in its latest report titled “Ultrasound Equipment Market Size, Share & Industry Analysis, By Product (Compact, and Tabletop), By Application (Radiology, Gynecology, Cardiology, Point of Care, Urology, Surgery, and Others), By End User (Hospitals and Clinics), and Regional Forecast, 2025-2032”.

Ultrasound equipment refers to devices that use high-frequency waves to capture images of a specific part of patient’s body to help healthcare professionals identify any abnormalities that can lead to chronic health conditions. They are capable of diagnosing a wide range of diseases related to vital body parts, such as blood vessels in the stomach, the heart, and joints. Ultrasound is considered one of the most non-invasive and safest diagnostic procedures that most patients opt for to get a regular checkup of their internal organs. The rising prevalence of chronic medical conditions is one of the key factors propelling the market growth.

The COVID-19 pandemic had a negative influence on the market’s growth as government-imposed lockdowns led to supply chain disruptions in the healthcare industry, which caused a major shortage of key raw materials. The shortage of these materials led to a decline in the production of advanced ultrasound equipment. However, post-pandemic, several hospitals resumed their routine medical diagnosis, which caused a rebound in the demand for ultrasound devices and ultimately helped the market recover.

Growing Incidence of Chronic Ailments and Increasing Geriatric Population to Bolster Market Growth

The incidence of chronic diseases, such as cancer, cardiovascular disorders, and kidney diseases is increasing every year due to various lifestyle and age-related factors. This factor has augmented the number of patient visits at hospitals, surgeries, and hospital admissions. This has also led to an increase in the adoption of ultrasound devices. These devices are adept in creating high-quality images to detect any symptom or abnormality in a patient’s body that can be linked to kidney disease, heart ailment, or even cancer. Moreover, the percentage of the elderly population is on the rise across the world, which has increased their susceptibility to age-related diseases. This factor will also boost the demand for ultrasound equipment to identify the symptoms in the early stages.

However, rising number of product recalls and dearth of availability of skilled professionals can hamper the ultrasound equipment market growth.

Shenzhen Mindray Bio-Medical Electronics Introduced New Handheld Ultrasound System to Offer High-Quality Ultrasound Imaging

Shenzhen Mindray Bio-Medical Electronics Co., Ltd. announced the launch of a brand new handheld ultrasound system, TE Air. This device claims to offer high-quality point-of-care ultrasound imaging and a wide range of practical benefits for radiologists.

Leading Players to Launch Novel Products to Penetrate Untapped Regions and Expand Business Operations

Some of the top companies dominating the global ultrasound equipment market share are focusing on developing and launching a wide range of ultrasound devices that are equipped with innovative technologies, such as AI. These products will help improve patient outcomes by accurately diagnosing a chronic health condition early on. The launch of such cutting-edge devices will also help the market players tap into untapped market and thereby, expand their business operations.

Notable Industry Development:

• August 2023: GE Healthcare announced the launch of Vscan Air SL. This is a new wireless ultrasound imaging system that helps medical professionals conduct rapid assessment of their patients. This assessment will help them diagnose chronic diseases in their early stages.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/ultrasound-equipment-market-100515

List of the Companies Profiled in the Report:

• GE Healthcare (U.S.)
• Koninklijke Philips N.V. (Netherlands)
• CANON MEDICAL SYSTEMS CORPORATION (Japan)
• FUJIFILM Corporation (Japan)
• Siemens Healthcare (Germany)
• Shantou Institute of Ultrasonic Instruments Co., Ltd (China)
• Butterfly network Inc. (U.S.)
• Konica Minolta, Inc. (Japan)
• Esaote SPA (Italy)
• BD (Becton, Dickinson and Company) (U.S.)

Further Report Findings

• Asia Pacific dominated the global market in 2024 as the region is witnessing a robust rise in the sales of ultrasound devices. China is emerging as a promising producer of this cost-effective equipment, which will further help the region maintain its dominance in the global market.
• North America accounted for the second-largest market share in 2024 as several market players across the region are focusing on developing and launching novel ultrasound imaging devices in the U.S. and Canada.
• Based on end-user, the hospitals segment held a dominant position in the global market in 2024 as there has been a rapid increase in the number of patient visits and hospital admissions in recent years, especially in developing countries. Moreover, these medical settings have an advanced infrastructure, which helps patients gain access to innovative ultrasound devices.

Table of Segmentation