Hyderabad, July 17, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Ultrasound Transducer Market Report (2023-2028)," the market is estimated at USD 3.88 billion in 2023. It is expected to register a CAGR of 3.83% during the forecast period.
Ultrasound transducers are probes that produce sound waves and echoes. These devices are used in diagnostic, surgical, and non-invasive procedures. Researchers are developing ultrasonic imaging for navigation because of the device’s radiation- and user-friendly benefits. The rising demand for minimally invasive therapies is driving the growth of the market.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 3.88 billion |
| Market Size (2028) | USD 4.68 billion |
| CAGR (2023-2028) | 3.83% |
| Study Period | 2019-2027 |
| Fastest-Growing Market | Asia-Pacific |
| Largest Market | North America |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Increasing demand for minimally invasive therapies. |
| Increasing adoption of ultrasound for diagnosing abdominal conditions. |
Which are the Top Companies in the Ultrasound Transducer Market?
The ultrasound transducer market is moderately competitive in nature and consists of various major market players. The players are expanding their businesses by launching new products to increase their market presence.
Notable players in the ultrasound transducer market are:
- Koninklijke Philips NV
- Siemens Healthineers
- GE Healthcare
- Fujifilm Holdings Corporation (Fujifilm Sonosite)
- Shenzhen Mindray Bio-Medical Electronics Co. Ltd
- Canon Medical Systems Corporation
- ESAOTE SpA
- Samsung Electronics Co. Ltd (Samsung Medison)
- Telemed Ultrasound Medical System
- Alpinion Medical Systems Co. Ltd
- Broadsound Corporation Information
- Ezono AG
Other Reports That Might Be of Your Interest:
- North America Ultrasound Devices Market Report - The North American ultrasound devices market size is estimated at USD 3.37 billion in 2023. It is expected to reach USD 4.43 billion by 2028, registering a CAGR of 5.58% during the forecast period (2023-2028).
- South America Ultrasound Devices Market Report - The South American ultrasound devices market size is estimated at USD 417.37 million in 2023. It is expected to reach USD 568.35 million in 2028, registering a CAGR of 6.37% during the forecast period (2023-2028).
Key Highlights from the Ultrasound Transducer Market Report:
Convex Segment is Likely to Witness Prominent Growth
- The convex segment is expected to witness growth due to the benefits of convex transducer devices, like high efficiency and their ability to focus on deeper organs than other transducers.
- The increasing adoption of convex transducers for diagnosing abdominal, transvaginal, and transrectal conditions may fuel the growth of this segment.
North America to Hold Significant Market Share
- North America is likely to hold a significant market share due to the rising demand for advanced medical devices, growing prevalence of chronic diseases, rising preference for early diagnosis, and growing investment in R&D.
- The United States occupied the largest share of the market studied in North America. Many market players in the country are implementing strategic initiatives that are boosting the growth of the market.
What are the Latest Developments in the Ultrasound Transducer Market?
- In October 2022, Abdul Latif Jameel Health, which is part of the international business of Abdul Latif Jameel, partnered with Wellesta Holdings, a Singapore-based marketing and commercialization services company, for the marketing and distribution of Butterfly iQ+ point-of-care ultrasound devices in India.
- In June 2022, Mindray launched the TEX20 series, its best-in-class point-of-care ultrasound system. The series includes voice commands, wireless charging, and wireless transducers to enhance workflow and elevate the customer experience in demanding clinical scenarios.
Mordor Intelligence has Segmented the Ultrasound Transducer Market Based on Product, Application, End User, and Geography:
- By Product (Market Size and Forecast based on Value (USD billion), 2019-2027)
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- Convex
- Linear
- Endocavitary
- Phased array
- CW Doppler
- Others
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- By Application (Market Size and Forecast based on Value (USD billion), 2019-2027)
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- Musculoskeletal
- Cardiovascular
- OB/GYN
- General Imaging
- Others
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- By End User (Market Size and Forecast based on Value (USD billion), 2019-2027)
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- Hospitals
- Diagnostic Centers
- Ambulatory Surgical Centers
- Others
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- By Geography (Market Size and Forecast based on Value (USD billion), 2019-2027)
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- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- GCC
- South Africa
- Rest of Middle East and Africa
- South America
- Brazil
- Argentina
- Rest of South America
- North America
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In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Ultrasound Transducer Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- United Kingdom Ultrasound Devices Market Report - The UK ultrasound devices market size is estimated at USD 406.35 million in 2023. It is expected to reach USD 514.93 million in 2028, registering a CAGR of 4.85% during the forecast period (2023-2028).
- South Korea Ultrasound Devices Market Report - The South Korean ultrasound devices market size is estimated at USD 154.70 million in 2023. It is expected to reach USD 203.25 million in 2028, registering a CAGR of 5.61% during the forecast period (2023-2028).
- Germany Ultrasound Devices Market Report - The German ultrasound devices market size is estimated at USD 602.99 million in 2023. It is expected to reach USD 795.58 million by 2028, registering a CAGR of 5.70% during the forecast period (2023-2028).
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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