The Ultrasound Transducers Market is projected to reach $5.5 billion by 2030, at a CAGR of 5.4% from 2023 to 2030. The ultrasound transducers market comprises advanced products and technologies used by medical professionals for patient management, from diagnosis to treatment, primarily focusing on areas such as infectious disease and cancer.
The growth of this market is driven by factors such as the rising prevalence of cardiovascular and abdominal disorders, technological developments in ultrasound, growing incidences of orthopedic injuries and musculoskeletal disorders, the rising geriatric population, and the increasing number of hospitals. However, the high cost of ultrasound products and the lack of skilled professionals hamper the growth of this market to a notable extent.
Increasing Geriatric Population Coupled With Chronic Illnesses Drives the Demand for Ultrasound Procedures
According to the World Population Ageing 2020 report released by the Department of Economic and Social Affairs, United Nations, globally, there were 727 million people aged 65 or above in 2020. It is estimated that by 2050 this number will reach 1.5 billion.
The aging population and changes in social behavior are major factors driving a steady increase in the number of people suffering from chronic diseases, increasing the demand for ultrasound as a standard part of the assessment procedure for the elderly population. The ultrasound modality can be used for assessing various disorders in the elderly population, such as pericardial effusions, pulmonary symptoms or infection, pleural sealing, aortic aneurysms, urinary tract obstructions and gallstones, as well as the investigation of the vessels of the neck and lower limbs, and infectious pathologies of the digestive tract among others.
Moreover, gallbladder ultrasound is a recommended method for diagnosing Acute Acalculous Cholecystitis (AAC) in critically ill elderly patients. Additionally, knee pain is highly prevalent in the older population and is commonly associated with knee osteoarthritis (OA), which can be diagnosed using ultrasound. The Power Doppler (PD) ultrasound modes provide a unique opportunity to detect indirect signs of increased vascularization observed in elders' joint inflammatory activity. Also, lung ultrasound (LUS) showed a promising role in diagnosing and monitoring COVID-19 in senior patients. The elderly also suffer from malnutrition, leading to increased frailty risk, reduced quality of life and increased mortality. Malnutrition involves a reduction of muscle mass that can impact muscle strength. In this situation, muscle thickness, measured by ultrasonography, has been investigated for nutritional assessment in older adults.
Also, the emergence of the point of care (PoC) ultrasound systems provides practical advantages to performing examinations. PoC devices restrict the movement of a patient from one room to another examination room. Also, the time taken by the PoC device is less than the conventional modalities. Hence, bedside examination is beneficial for older people who cannot move.
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Key Findings of the Ultrasound Transducers Market Study
In 2023, the Convex Segment is Expected to Dominate the Ultrasound Transducers Market
Based on product, in 2023, the convex segment is expected to account for the largest share of the ultrasound transducers market. Convex transducers help in in-depth investigations due to their curved arrangement of a piezoelectric crystal, used for diagnosing abdominal, transvaginal, and transrectal conditions. The high prevalence of abdominal and transvaginal conditions has fueled the demand for convex transducers, contributing to the largest share of the segment.
In 2023, the Diagnostics Segment is Expected to Dominate the Ultrasound Transducers Market
Based on application, in 2023, the diagnostics segment is expected to account for the largest share of the ultrasound transducers market. An increase in awareness of the early diagnosis of diseases, technological developments in diagnostic imaging devices, and wide scope for the use of diagnostic applications of ultrasound devices contribute to the largest share of the segment.
In 2023, the Hospitals & Clinics Segment is Expected to Dominate Ultrasound Transducers Market
Based on end user, in 2023, the hospitals & clinics segment is expected to account for the largest share of the ultrasound transducers market. Factors attributing to this segment's share include increased hospitalizations due to various diseases and the high burden of the geriatric population requiring ultrasound for diagnostic and therapeutic purposes.
Asia-Pacific: Fastest-growing Regional Market
Based on geography, Asia-Pacific is slated to record the highest growth rate during the forecast period. The growth of this regional market is mainly driven by the growing geriatric population, rising healthcare expenditure, and the presence of supportive initiatives for improving vision care.
Key Players
The key players profiled in the ultrasound transducers market study are GE Healthcare (U.S.), Seimens Healthineers AG (Germany), Koninklijke Philips N.V. (Netherlands), FUJIFILM Sonosite, Inc. (U.S.), Canon Medical Systems Corporation (Japan), Hitachi Medical Corporation (Japan), Samsung Medison Co., Ltd. (South Korea), Esaote SpA (Italy), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), Carestream Health, Inc (U.S.), and ALPINION MEDICAL SYSTEMS Co., Ltd. (South Korea).
Scope of the Report:
Ultrasound Transducers Market, by Product
Ultrasound Transducers Market, by Application
Ultrasound Transducers Market, by End User
Ultrasound Transducers Market, by Geography
Key questions answered in the report:
The ultrasound transducers market study covers the market sizes & forecasts for various ultrasound transducer products used in the healthcare sector. The report involves the value analysis of various segments and subsegments of the ultrasound transducers market at the regional and country levels.
The ultrasound transducers market is projected to reach $5.5 billion by 2030, at a CAGR of 5.4% during the forecast period.
Based on product, in 2023, the convex segment is expected to account for the largest share of the ultrasound transducers market. However, the linear segment is projected to register the highest CAGR during the forecast period.
The diagnostic imaging centers segment is slated to register the highest CAGR during the forecast period. The expansion of diagnostic imaging centers and the installation of advanced systems in these centers drive the growth of this segment.
The growth of this market is driven by factors such as the rising prevalence of cardiovascular and abdominal disorders, technological developments in ultrasound, growing incidences of orthopedic injuries and musculoskeletal disorders, the rising geriatric population, and the increasing number of hospitals.
In addition, the emergence of POC ultrasound devices and emerging economies are expected to provide significant opportunities for the growth of this market.
The key players operating in the ultrasound transducers market are GE Healthcare (U.S.), Seimens Healthineers AG (Germany), Koninklijke Philips N.V. (Netherlands), FUJIFILM Sonosite, Inc. (U.S.), Canon Medical Systems Corporation (Japan), Hitachi Medical Corporation (Japan), Samsung Medison Co., Ltd. (South Korea), Esaote SpA (Italy), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), Carestream Health, Inc (U.S.), and ALPINION MEDICAL SYSTEMS Co., Ltd. (South Korea).
Emerging economies from Asia-Pacific, such as China and India, are projected to offer significant growth opportunities for vendors operating in this market due to the growing awareness about chronic diseases and their diagnosis, increasing geriatric population, growing number of healthcare settings, and increasing investment in the healthcare sector.
This report provides pre & post COVID-19 market estimates.
1. Introduction
1.1. Market Definition
1.2. Market Ecosystem
1.3. Currency
1.4. Key Stakeholders
2. Research Methodology
2.1. Research Process
2.2. Data Collection & Validation
2.2.1. Secondary Research
2.2.2. Primary Research
2.3. Market Assessment
2.3.1. Market Size Estimation
2.3.1.1. Bottom-up Approach
2.3.1.2. Top-down Approach
2.3.1.3. Growth Forecast
2.4. Assumptions for the Study
2.5. Limitations for the Study
3. Executive Summary
4. Market Insights
4.1. Introduction
4.2. Drivers
4.2.1. Rising Prevalence of Cardiovascular and Abdominal Disorders
4.2.2. Technological Developments in Ultrasound
4.2.3. Growing Incidences of Orthopedic Injuries and Musculoskeletal Disorders
4.2.4. Rising Geriatric Population
4.2.5. Increasing Number of Hospitals
4.3. Restraints
4.3.1. Lack of Reimbursement for Ultrasound Procedures
4.4. Opportunities
4.4.1. Emergence of POC Ultrasound Devices
4.4.1. Emerging Economies
4.5. Challenges
4.5.1. High Cost of Ultrasound Product
4.5.2. Lack of Skilled Professionals
4.6. The Impact of COVID-19 on the Global Ultrasound Transducers Market
5. Global Ultrasound Transducers Market, by Product
5.1. Introduction
5.2. Convex
5.3. Linear
5.4. Endocavitary
5.5. Phased array
5.6. CW Doppler
5.7. Others
6. Global Ultrasound Transducers Market, by Application
6.1. Introduction
6.2. Diagnostic Applications
6.2.1. Cardiovascular
6.2.2. General Imaging
6.2.3. Orthopedic & Musculoskeletal
6.2.4. Obstetrics & Gynecology (OB-GYN)
6.2.5. Other Applications
6.3. Therapeutic Applications
7. Global Ultrasound Transducers Market, by End User
7.1. Introduction
7.2. Hospitals & Clinics
7.3. Diagnostic Imaging Centers
7.4. Ambulatory Surgical Centers
7.5. Other End Users
8. Ultrasound Transducers Market, by Geography
8.1. Introduction
8.2. North America
8.2.1. U.S.
8.2.2. Canada
8.3. Europe
8.3.1. Germany
8.3.2. France
8.3.3. U.K.
8.3.4. Italy
8.3.5. Spain
8.3.6. Rest of Europe
8.4. Asia-Pacific
8.4.1. China
8.4.2. Japan
8.4.3. India
8.4.4. Rest of Asia-Pacific
8.5. Latin America
8.5.1. Brazil
8.5.2. Mexico
8.5.3. Rest of Latin America
8.6. Middle East & Africa
9. Competitive Landscape
9.1. Introduction
9.2. Key Growth Strategies
9.3. Competitive Benchmarking
9.4. Market Share Analysis (2021)
10. Company Profiles
10.1. GE Healthcare
10.2. Philips Healthcare
10.3. Seimens Healthineers
10.4. FUJIFILM SonoSite
10.5. Canon Medical Systems Corp.
10.6. Hitachi Medical Corporation
10.7. Samsung Medison Co. Ltd.
10.8. Esaote SpA
10.9. Mindray Medical International
10.10. ALPINION MEDICAL SYSTEMS Co., Ltd.
10.11. Carestream Health, Inc
11. Appendix
11.1. Questionnaire
11.2. Available Customization
List of Tables
Table 1 Global Ultrasound Transducers Market: Impact Analysis of Market Drivers (2023–2030)
Table 2 Global Ultrasound Transducers Market: Impact Analysis of Market Restraints (2023–2030)
Table 3 Global Ultrasound Transducers Market Size, by Product, 2021–2030 (USD Million)
Table 4 Global Convex Ultrasound Transducers Market Size, by Country/Region, 2021–2030 (USD Million)
Table 5 Global Linear Ultrasound Transducers Market Size, by Country/Region, 2021–2030 (USD Million)
Table 6 Global Endocavitary Ultrasound Transducers Market Size, by Country/Region, 2021–2030 (USD Million)
Table 7 Global Phased Array Ultrasound Transducers Market Size, by Country/Region, 2021–2030 (USD Million)
Table 8 Global CW Doppler Ultrasound Transducers Market Size, by Country/Region, 2021–2030 (USD Million)
Table 9 Global Other Ultrasound Transducers Market Size, by Country/Region, 2021–2030 (USD Million)
Table 10 Global Ultrasound Transducers Market Size, by Application, 2021–2030 (USD Million)
Table 11 Global Ultrasound Transducers Market Size for Diagnostic Applications, by Type, 2021–2030 (USD Million)
Table 12 Global Ultrasound Transducers Market Size for Diagnostic Applications, by Country/Region, 2021–2030 (USD Million)
Table 13 Global Ultrasound Transducers Diagnostic Market Size for Cardiovascular Application, by Country/Region, 2021–2030 (USD Million)
Table 14 Global Ultrasound Transducers Diagnostic Market Size for General Imaging, by Country/Region, 2021–2030 (USD Million)
Table 15 Global Ultrasound Transducers Diagnostic Market Size for Orthopedic & Musculoskeletal Application, by Country/Region, 2021–2030 (USD Million)
Table 16 Global Ultrasound Transducers Diagnostic Market Size for Obstetrics & Gynecology, by Country/Region, 2021–2030 (USD Million)
Table 17 Global Ultrasound Transducers Diagnostic Market Size for Other Applications, by Country/Region, 2021–2030 (USD Million)
Table 18 Global Ultrasound Transducers Market Size for Therapeutic Applications, by Country/Region, 2021–2030 (USD Million)
Table 19 Global Ultrasound Transducers Market Size, by End User, 2021–2030 (USD Million)
Table 20 Global Ultrasound Transducers Market Size for Hospitals & Clinics, by Country/Region, 2021–2030 (USD Million)
Table 21 Global Ultrasound Transducers Market Size for Diagnostic Imaging Centers, by Country/Region, 2021–2030 (USD Million)
Table 22 Global Ultrasound Transducers Market Size for Ambulatory Surgical Centers, by Country/Region, 2021–2030 (USD Million)
Table 23 Global Ultrasound Transducers Market Size for Other End Users, by Country/Region, 2021–2030 (USD Million)
Table 24 Global Ultrasound Transducers Market Size, by Country/Region, 2021–2030 (USD Million)
Table 25 North America: Ultrasound Transducers Market Size, by Country, 2021–2030 (USD Million)
Table 26 North America: Ultrasound Transducers Market Size, by Product, 2021–2030 (USD Million)
Table 27 North America: Ultrasound Transducers Market Size, by Application, 2021–2030 (USD Million)
Table 28 North America: Ultrasound Transducers Market Size for Diagnostic Applications, by Type, 2021–2030 (USD Million)
Table 29 North America: Ultrasound Transducers Market Size, by End User, 2021–2030 (USD Million)
Table 30 U.S.: Ultrasound Transducers Market Size, by Product, 2021–2030 (USD Million)
Table 31 U.S.: Ultrasound Transducers Market Size, by Application, 2021–2030 (USD Million)
Table 32 U.S.: Ultrasound Transducers Market Size for Diagnostic Applications, by Type, 2021–2030 (USD Million)
Table 33 U.S.: Ultrasound Transducers Market Size, by End User, 2021–2030 (USD Million)
Table 34 Canada: Ultrasound Transducers Market Size, by Product, 2021–2030 (USD Million)
Table 35 Canada: Ultrasound Transducers Market Size, by Application, 2021–2030 (USD Million)
Table 36 Canada: Ultrasound Transducers Market Size for Diagnostic Applications, by Type, 2021–2030 (USD Million)
Table 37 Canada: Ultrasound Transducers Market Size, by End User, 2021–2030 (USD Million)
Table 38 Europe: Ultrasound Transducers Market Size, by Country/Region, 2021–2030 (USD Million)
Table 39 Europe: Ultrasound Transducers Market Size, by Product, 2021–2030 (USD Million)
Table 40 Europe: Ultrasound Transducers Market Size, by Application, 2021–2030 (USD Million)
Table 41 Europe: Ultrasound Transducers Market Size for Diagnostic Applications, by Type, 2021–2030 (USD Million)
Table 42 Europe: Ultrasound Transducers Market Size, by End User, 2021–2030 (USD Million)
Table 43 Germany: Ultrasound Transducers Market Size, by Product, 2021–2030 (USD Million)
Table 44 Germany: Ultrasound Transducers Market Size, by Application, 2021–2030 (USD Million)
Table 45 Germany: Ultrasound Transducers Market Size for Diagnostic Applications, by Type, 2021–2030 (USD Million)
Table 46 Germany: Ultrasound Transducers Market Size, by End User, 2021–2030 (USD Million)
Table 47 France: Ultrasound Transducers Market Size, by Product, 2021–2030 (USD Million)
Table 48 France: Ultrasound Transducers Market Size, by Application, 2021–2030 (USD Million)
Table 49 France: Ultrasound Transducers Market Size for Diagnostic Applications, by Type, 2021–2030 (USD Million)
Table 50 France: Ultrasound Transducers Market Size, by End User, 2021–2030 (USD Million)
Table 51 U.K.: Ultrasound Transducers Market Size, by Product, 2021–2030 (USD Million)
Table 52 U.K.: Ultrasound Transducers Market Size, by Application, 2021–2030 (USD Million)
Table 53 U.K.: Ultrasound Transducers Market Size for Diagnostic Applications, by Type, 2021–2030 (USD Million)
Table 54 U.K.: Ultrasound Transducers Market Size, by End User, 2021–2030 (USD Million)
Table 55 Italy: Ultrasound Transducers Market Size, by Product, 2021–2030 (USD Million)
Table 56 Italy: Ultrasound Transducers Market Size, by Application, 2021–2030 (USD Million)
Table 57 Italy: Ultrasound Transducers Market Size for Diagnostic Applications, by Type, 2021–2030 (USD Million)
Table 58 Italy: Ultrasound Transducers Market Size, by End User, 2021–2030 (USD Million)
Table 59 Spain: Ultrasound Transducers Market Size, by Product, 2021–2030 (USD Million)
Table 60 Spain: Ultrasound Transducers Market Size, by Application, 2021–2030 (USD Million)
Table 61 Spain: Ultrasound Transducers Market Size for Diagnostic Applications, by Type, 2021–2030 (USD Million)
Table 62 Spain: Ultrasound Transducers Market Size, by End User, 2021–2030 (USD Million)
Table 63 RoE: Ultrasound Transducers Market Size, by Product, 2021–2030 (USD Million)
Table 64 RoE: Ultrasound Transducers Market Size, by Application, 2021–2030 (USD Million)
Table 65 RoE: Ultrasound Transducers Market Size for Diagnostic Applications, by Type, 2021–2030 (USD Million)
Table 66 RoE: Ultrasound Transducers Market Size, by End User, 2021–2030 (USD Million)
Table 67 Asia-Pacific: Ultrasound Transducers Market Size, by Country/Region, 2021–2030 (USD Million)
Table 68 Asia-Pacific: Ultrasound Transducers Market Size, by Product, 2021–2030 (USD Million)
Table 69 Asia-Pacific: Ultrasound Transducers Market Size, by Application, 2021–2030 (USD Million)
Table 70 Asia-Pacific: Ultrasound Transducers Market Size for Diagnostic Applications, by Type, 2021–2030 (USD Million)
Table 71 Asia-Pacific: Ultrasound Transducers Market Size, by End User, 2021–2030 (USD Million)
Table 72 China: Ultrasound Transducers Market Size, by Product, 2021–2030 (USD Million)
Table 73 China: Ultrasound Transducers Market Size, by Application, 2021–2030 (USD Million)
Table 74 China: Ultrasound Transducers Market Size for Diagnostic Applications, by Type, 2021–2030 (USD Million)
Table 75 China: Ultrasound Transducers Market Size, by End User, 2021–2030 (USD Million)
Table 76 Japan: Ultrasound Transducers Market Size, by Product, 2021–2030 (USD Million)
Table 77 Japan: Ultrasound Transducers Market Size, by Application, 2021–2030 (USD Million)
Table 78 Japan: Ultrasound Transducers Market Size for Diagnostic Applications, by Type, 2021–2030 (USD Million)
Table 79 Japan: Ultrasound Transducers Market Size, by End User, 2021–2030 (USD Million)
Table 80 India: Ultrasound Transducers Market Size, by Product, 2021–2030 (USD Million)
Table 81 India: Ultrasound Transducers Market Size, by Application, 2021–2030 (USD Million)
Table 82 India: Ultrasound Transducers Market Size, for Diagnostic Applications, by Type, 2021–2030 (USD Million)
Table 83 India: Ultrasound Transducers Market Size, by End User, 2021–2030 (USD Million)
Table 84 RoAPAC: Ultrasound Transducers Market Size, by Product, 2021–2030 (USD Million)
Table 85 RoAPAC: Ultrasound Transducers Market Size, by Application, 2021–2030 (USD Million)
Table 86 RoAPAC: Ultrasound Transducers Market Size for Diagnostic Applications, by Type, 2021–2030 (USD Million)
Table 87 RoAPAC: Ultrasound Transducers Market Size, by End User, 2021–2030 (USD Million)
Table 88 Latin America: Ultrasound Transducers Market Size, by Country/Region, 2021–2030 (USD Million)
Table 89 Latin America: Ultrasound Transducers Market Size, by Product, 2021–2030 (USD Million)
Table 90 Latin America: Ultrasound Transducers Market Size, by Application, 2021–2030 (USD Million)
Table 91 Latin America: Ultrasound Transducers Market Size for Diagnostic Applications, by Type, 2021–2030 (USD Million)
Table 92 Latin America: Ultrasound Transducers Market Size, by End User, 2021–2030 (USD Million)
Table 93 Brazil: Ultrasound Transducers Market Size, by Product, 2021–2030 (USD Million)
Table 94 Brazil: Ultrasound Transducers Market Size, by Application, 2021–2030 (USD Million)
Table 95 Brazil: Ultrasound Transducers Market Size for Diagnostic Applications, by Type, 2021–2030 (USD Million)
Table 96 Brazil: Ultrasound Transducers Market Size, by End User, 2021–2030 (USD Million)
Table 97 Mexico: Ultrasound Transducers Market Size, by Product, 2021–2030 (USD Million)
Table 98 Mexico: Ultrasound Transducers Market Size, by Application, 2021–2030 (USD Million)
Table 99 Mexico: Ultrasound Transducers Market Size for Diagnostic Applications, by Type, 2021–2030 (USD Million)
Table 100 Mexico: Ultrasound Transducers Market Size, by End User, 2021–2030 (USD Million)
Table 101 RoLATAM: Ultrasound Transducers Market Size, by Product, 2021–2030 (USD Million)
Table 102 RoLATAM: Ultrasound Transducers Market Size, by Application, 2021–2030 (USD Million)
Table 103 RoLATAM: Ultrasound Transducers Market Size for Diagnostic Applications, by Type, 2021–2030 (USD Million)
Table 104 RoLATAM: Ultrasound Transducers Market Size, by End User, 2021–2030 (USD Million)
Table 105 Middle East & Africa: Ultrasound Transducers Market Size, by Product, 2021–2030 (USD Million)
Table 106 Middle East & Africa: Ultrasound Transducers Market Size, by Application, 2021–2030 (USD Million)
Table 107 Middle East & Africa: Ultrasound Transducers Market Size for Diagnostic Applications, by Type, 2021–2030 (USD Million)
Table 108 Middle East & Africa: Ultrasound Transducers Market Size, by End User, 2021–2030 (USD Million)
Table 109 Recent Developments, by Company, 2020—2023
List of Figures
Figure 1 Research Process
Figure 2 Key Secondary Sources
Figure 3 Primary Research Techniques
Figure 4 Key Executives Interviewed
Figure 5 Breakdown of Primary Interviews (Supply-side & Demand-side)
Figure 6 Market Size Estimation
Figure 7 Global Ultrasound Transducer Market Size, by Product, 2023 VS. 2030 (USD Million)
Figure 8 Global Ultrasound Transducer Market Size, by Application, 2023 VS. 2030 (USD Million)
Figure 9 Global Ultrasound Transducer Market Size, by End User, 2023 VS. 2030 (USD Million)
Figure 10 Ultrasound Transducer Market, by Region
Figure 11 Market Dynamics
Figure 12 Global Ultrasound Transducer Market Size, by Product, 2023–2030 (USD Million)
Figure 13 Global Ultrasound Transducer Market Size, by Application, 2023–2030 (USD Million)
Figure 14 Global Ultrasound Transducer Market Size, by End User, 2023–2030 (USD Million)
Figure 15 Global Ultrasound Transducer Market Size, by Region, 2023–2030 (USD Million)
Figure 16 North America: Ultrasound Transducer Market Snapshot
Figure 17 Europe: Ultrasound Transducer Market Snapshot
Figure 18 Asia-Pacific: Ultrasound Transducer Market Snapshot
Figure 19 Latin America: Ultrasound Transducer Market Snapshot
Figure 20 Key Growth Strategies Adopted by Leading Players, 2020—2023
Figure 21 Ultrasound Transducers Market: Competitive Benchmarking, by Product
Figure 22 General Electric Company: Financial Overview (2021)
Figure 23 Koninklijke Philips N.V.: Financial Overview (2021)
Figure 24 Siemens Healthineers AG: Financial Overview (2022)
Figure 25 FUJIFILM Holdings Corporation: Financial Overview (2021)
Figure 26 Canon: Financial Overview (2021)
Figure 27 Hitachi, Ltd.: Financial Overview (2021)
Figure 28 Samsung Electronics: Financial Overview (2021)
Figure 29 Shenzhen Mindray Bio-Medical Electronics Co., Ltd: Financial Overview (2021)
Figure 30 ILJIN Group: Financial Overview (2021)
This report provides pre & post COVID-19 market estimates.
This report provides pre & post COVID-19 market estimates.
Published Date: Aug-2023
Published Date: Jan-2023
Published Date: Feb-2019
