Ultrasound Market Analysis

Portability (Cart/Trolley, Handheld, Compact)

Cart/trolley segment is poised to dominate ultrasound market share of around 59.1% by the end of 2036, impacting the landscape of ultrasound revenue share. Cost-effectiveness and growing adoption of ultrasound systems with features such as improved picture quality, high-grade battery capacity, and user-friendly interfaces are driving this segment's growth. Moreover, cart/trolley ultrasounds enable clinicians to provide point-of-care imaging directly to critical patients, particularly in emergency rooms and intensive care units (ICUs). Additionally, it facilitates prompt diagnosis, decision-making regarding treatment, and administration, all of which improve patient satisfaction and recovery. In July 2023, Konica Minolta Healthcare Americas, Inc. unveiled the PocketPro H2, a cutting-edge cordless handheld ultrasonic device. The company collaborated with Healcerion to distribute the device to offer an affordable and versatile ultrasound imaging device, across the U.S. for human and animal applications.

Application (Radiology, Cardiology, Obstetrics/Gynecology, Orthopedic, Anesthesia, Emergency Medicine, Primary Care, Critical Care)

The radiology segment in ultrasound market is expected to be the fastest-growing segment with a staggering CAGR during the forecast period. The number of radiology centers is rising, and general imaging & medical complication diagnosis are using this technology more, which is propelled to fuel this revenue share. For instance, GE Healthcare in 2022 estimated that radiology had experienced more than 31% of gain in Magnetic Resonance Imaging (MRI) between 2007 and 2018.

Moreover, radiology uses ultrasound technology extensively for diagnostic imaging in different medical specialties, such as cardiology, musculoskeletal imaging, oncology, and obstetrics and gynecology. Owing to its versatility, radiologists can assess a wide range of medical conditions, making it an indispensable tool. Furthermore, unlike other imaging modalities like CT and X-rays, ultrasound imaging is non-invasive and it does not use ionizing radiation. This lowers the risk of radiation exposure and makes it safer for patients, especially elderly patients and pregnant women. Growth in this sector will boost the diagnostic imaging value in the near future.

Our in-depth analysis of the global market includes the following segments: